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For almost two months, I’ve been paying a maid service. After the initial cleaning, I waited a few weeks, and then set up a recurring appointment for a cleaning once every two weeks. For years leading up to this arrangement, I’ve balked at hiring a cleaning service. Cleaning is not a particularly difficult task, and this is not by any means a necessary expense. Furthermore, I live only with my cat. I do not have a family to look after. When first thinking about bringing in professionals, it seemed excessive.

Several months ago, I decided it was time to bring in the professionals. I had two full-time jobs that left little time for tasks like vacuuming and scrubbing the bathroom. I asked friends and co-workers living in the area for cleaning service recommendations, but this yielded no results. I turned to the internet for suggestions, and I decided to give Maids.com a try. There is a relatively local office. I called, the company provided an estimate based on my description of my apartment, and we arranged an initial visit.

The initial visit consisted of a deeper cleaning and allows the maids to determine the scope of the job. The cleaning is deeper than usual based on the assumption that this might be the first time the location was professionally cleaned, and regular upkeep would help reduce future cleaning needs. A team of four spent an hour and a half during that initial visit handling the dirty work. They did a good job, particularly in the bathroom and kitchen. However, living with a cat, the apartment never feels fully clean without cleaning the carpets. I quickly steamed some of the more troubling spots after the maids left and was pleasantly satisfied with the apartment’s appearance.

I waited several weeks before inviting the maids back, but when I did, I agreed to a reduced price by arranging a visit every two weeks. The knowledge that the maids will be arriving within days motivates me to keep the apartment tidier throughout the week. If there is no need to clean, I could still cancel a cleaning without increasing the price. At the same time, if I found myself in the position of needing to reduce my expenses, this would be one of the first luxuries to be eliminated.

There’s often a psychological barrier that stops someone from paying for a service one could do on one’s own. Some people refuse to pay for financial advice, some don’t think it makes sense to pay someone to clean a house, and some don’t want to call the plumber when there’s a problem with the pipes. It’s not always psychological, either. Hiring a professional costs money that might not be immediately available. Some people prefer taking a do-it-yourself approach to their lives, and that’s an admirable attitude. The psychological barrier comes in the thought that it isn’t worthwhile to pay someone to do something you could do yourself.

In my case, my time is valuable, and I’m sure most people have the same opinion of their time, as well. My effort is better spent working on a project or enjoying my life than scrubbing toilets. I’m not completely averse to this type of labor; I’ll do it, but I have found that it’s worthwhile for me to hire professionals who do it better and more efficiently, while my time is free to concentrate on other aspects of my life and business.

On Twitter, @27andfrugal asked how I was able to fit this expense into my budget. This cleaning service adds up to about $250 on a monthly basis. I understand that this is a price many people would not be able to pay for a service they could theoretically manage without hiring professionals. I consider myself fortunate that I can handle this expense without much detrimental effect on my finances. The $250 comes out of my net savings. This is $250 less each month I won’t have in savings, which, depending on interest rates, could add up to tens or even a hundred thousand dollars over the next thirty years. Of course, looking at that view, it’s harder to make the argument that the expense is worthwhile, but these are the caveats:

  • I can make up some of that theoretical loss with increased productivity.
  • My quality of life increases, and that has a value that’s hard to pin down with financial terms.

Cleaning is one task of several I hope to outsource. My next step is to find a virtual assistant to help keep me organized from a business perspective.

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Paul La Monica shares my concern that today’s market is reminiscent of the dot-com bubble of 1999. The bubble, if it exists, would be evident in higher than expected valuations for private companies like Facebook ($75 billion) and Groupon ($25 billion), not to mention Huffington Post’s recent sale to AOL for $315 million. In his article, Paul also refers to a few publicly-traded companies whose valuations are extraordinarily high compared to their earning estimates.

For companies whose shares are trading on private exchanges like SecondMarket, the hypothetical bubble may not affect most investors. I’d be concerned once Facebook, Zynga, and Twitter go public, though. These companies will probably go public at some point to take advantage of an influx of cash from a wider array of investors.

It just goes to show that some things really haven’t changed since 1999. The dot-com sector, like any other, has its winners and losers. Investors have to do their homework to find the former and steer clear of the latter.

It’s easy to judge Pets.com as an imminent failure after the fact, but it’s much more difficult to identify over-exuberance when it is happening. Doing homework and studying financial reports isn’t going to be enough when and if the bubble bursts. Right now, most investments seem historically high — tech stocks, oil, and gold, for example — while the only type of asset that seems to be laying low, at least when compared to values for the past several years, is real estate.

Just as it might be the best time to buy houses, particularly as an investment, it’s more difficult to get loans to do so on a leveraged basis. Buying low and selling high isn’t always as easy as it sounds with certain forces, putting aside investor behavioral psychology, work against you.

CNN Money

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My household has almost always included pets. First, let me establish the true hierarchy. It’s very clear when you live with one cat or more that they own the place, and we humans are only permitted to share living space with them because we provide food and shelter. The only years I’ve lived in a house or apartment not “owned” by a cat were when I was living in a dorm on my university’s campus and for some time following graduation.

As a single man without a human roommate, my cat spends a lot of time with me. He greets me when I come home from work and spends the evening at my feet while I work on Consumerism Commentary and other projects. What we interpret as unconditional love from a pet like a cat is invaluable — you cannot put a price on such a thing.

That’s what we’d all like to believe, anyway. I knew this when I wrote about 10 unusual ways to save money for U.S. News & World Report. I had the apparent audacity to suggest that if you cannot afford the responsibility of fully caring for a pet, you should not have a pet. More precisely, I said, “get rid” of the pet, which may have been a more heartless way of stating the fact, but I still stand by the thought behind the words.

Pets are money drains, cute and lovable money drains. My cat happens to be a low-maintenance, frugal pet. Food and litter cost me only $50 a month or so, and that’s normally the bulk of my expense. I took my cat to the veterinarian this past weekend for a check-up and to determine whether there’s a pathological reason he lost weight over the last few months. The one visit cost more than $250. While results of the blood test are still to be determined, the vet was able to tell during the visit that my cat’s gums are not healthy. Possibly in an effort to scare me away from a procedure, he mentioned that full dental work could easily be $1,000.

He’s an older cat, and as he continues to age, I expect expenses like these to increase. But my experience so far pales in comparison to my boss’s dog. Her dog has a thyroid problem that keeps the pet on and off medication. Not only must she pay for his drugs, repeated visits to the vet, and special dietary considerations, but she also must factor in the cost to clean up after a large dog that cannot always control its bodily functions until it is let outdoors.

Taking care of a pet can be a significant expense, and it is not a responsibility that anyone should take lightly. If you’re not in a position to take care of a pet, including the ability to afford a healthy lifestyle that involves regularly visiting the veterinarian and paying for procedures that ensure the comfort of the creature’s continued existence, you should not own a pet. Living beings deserve better care, and love is not enough.

If your financial circumstances change due to forces beyond your control and caring for a pet is a major expense that you can no longer afford, then you must at least consider your options for removing the pet from your care. While adoption agencies are already overcrowded with pets who need a home, living creatures designed for domestication, as are dogs and cats, deserve families who can care for them fully, not just with love.

When my friends had baby who was determined to be allergic to cats, I agreed to adopt their pet when they were having difficulty finding a home for him. This is the cat who has lived with me for the past five years. I agreed to adopt knowing I was likely to be able to care for him through his old age, not because I selfishly wanted a pet. I would not have been able to do so several years earlier, a time I was having trouble affording necessities for just myself.

I strongly suggest considering the financial and emotional responsibilities before committing to care for a pet. The “unconditional love” we receive from pets is not worth the financial hardship we may encounter if we are not prepared for all the responsibilities. The New York Times has an insightful look at the true cost of pet ownership here. I found this link on Free Money Finance, where FMF often discusses the financial realities of pet ownership.

Update: For more on the realities of pet ownership, take a look at Donna Freedman’s article, Why You Can’t Afford a Dog. Also, PetFinder has these tips for saving money on pet care.

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It’s been a hectic weekend so far. I’ve spent many hours on the road between my home in New Jersey, Pennsylvania, and Queens. Friends of mine will be married to each other in a few weeks, and they wanted to have some wedding photographs shot including their pet guinea pigs. They were concerned about dealing with these pets on the day of the wedding, so I volunteered to put my photography skills to the test for a small assignment.

We took sets of photographs outside their house in Pennsylvania, with the bride and groom in full dress and tuxedo holding their guinea pigs. For the sake of their privacy, I won’t include a photo of my friends, but I will share a photograph of one of their three guinea pigs.

My day job requires me to work for a few minutes on Monday morning, and after leaving Pennsylvania to go to Queens on Saturday, I realized I did not have the materials I needed. Sunday afternoon I trekked back to my home, stopping at my office to pick up a necessary slip of paper. Later that evening, I drove back to New York to be in town for Monday’s Memorial Day parade, a family tradition for my girlfriend.

While enjoying your holiday, take a look at these articles. Read the full article →

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How To Handle Requests For Financial Advice

by Flexo

I don’t have to remind myself that I’m not an expert when it comes to money. While my choices have improved over the past few years, I still make mistakes at about the same rate I always have. Even recently, I thought I could outsmart the public and take advantage of Toyota’s recent bad news. ... Continue reading this article…

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Smithee’s Best Advice for Graduating Seniors

by Smithee

I’m not a financial planner, adviser, guru or anything of the sort. The reason I’m writing here today is because I screwed up big time. Fortunately for you, I think I’ve figured out where the mistake began. Recently I’ve been taking an informal poll of some of the people I would consider to be relatively ... Continue reading this article…

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My Pets’ Worth

by Smithee

The author of Free Money Finance pointed out a story highlighting how the recession is affecting the health of pets. He or she also linked to a helpful chart of estimated costs for owning various kinds of pets. Personally, my wife and I don’t even include pet care in our budget, because our affection for ... Continue reading this article…

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Cleaning Carpets Again and Daily Links

by Flexo

Four months ago, I purchased a Hoover SteamVac and used the device to clean the carpets in my apartment. I was impressed then. In order to prepare for some company this coming weekend, I cleaned the carpets again this past weekend. The results were just as great. I have a cat, and even though you ... Continue reading this article…

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