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الأربعاء، 23 ديسمبر 2015

A Real-Life Elf on the Shelf: This Man Might Have Accidentally Launched the Most Brilliant Holiday Side Hustle Ever

Could a Craigslist joke be the key to your next side hustle?

A Boston man “broke the Internet” last week when he posted an anonymous Craigslist ad, offering to pose as a real-life version of mysterious holiday helper “Elf on the Shelf.”

“For $100/hour I will come to your holiday party dressed as the Elf on the Shelf and sit in any location you assign me while I stare emptily at your guests for the duration of the event… ”

After days of mystery, the man revealed himself in a Huffington Post interview as 28-year-old Jesse Brower.

Brower is not in the accompanying photo. Instead, it’s a photo posted to Facebook in 2012 by a man named Jim Clark. Brower found the photo through a Google search when he created the ad.

But what started as a joke might have real earning potential!

“I was thinking about how funny it would be to hire a really creepy guy to sit around … to just weird everyone out,” Brower told Huffington Post.

Apparently, everyone agrees.

The ad spiked to the top of Reddit last week and caught heat on several news sites, including a satirical interview with BostInno under the pseudonym “Chris N. Kringle.”

The ad’s since been flagged for removal, and we’re taking Brower’s (and “Kringle’s”) claims of income with a grain of salt.

But we can’t deny the popularity of the idea.

If you need a little extra cash as the holidays close in, maybe the Elf on the Shelf is your ticket?

Santa and Mrs. Claus may be the classic characters invited to holiday parties, but the Elf on the Shelf has claimed a big piece of the holiday pie in recent years.

This may be a sign it’s time to turn in your fluffy white beard and black boots for red footie pajamas and rosy cheeks.

While you’re at it, get the whole family involved — it’ll at least make for some crazy-adorable holiday cards!

Your Turn: Would you dress as the Elf on the Shelf and hang out at holiday parties for $100 an hour?

Dana Sitar (@danasitar) is a staff writer at The Penny Hoarder. She’s written for Huffington Post, Entrepreneur.com, Writer’s Digest and more, and she is officially too old to understand what’s going on with these kids and their Elves on their Shelves.

The post A Real-Life Elf on the Shelf: This Man Might Have Accidentally Launched the Most Brilliant Holiday Side Hustle Ever appeared first on The Penny Hoarder.



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9 Fun Ways This Mom is Raising Future Penny Hoarders

It’s tough being a frugal parent. But here’s my secret: Make it so fun, your kids don’t even know you’re being thrifty!

My toddler loves bargain-hunting at the store and “helping” in the kitchen, and my 8-year-old niece loves rolling up loose change while looking for “coin treasures.”

Want to get started teaching your kids about money? Try these suggestions:

1. Get Kids Involved in Cooking

Making homemade food is one of the easiest ways to save your family money.

Getting your kids in on it can be a bonding experience for everyone — instead of just a chore for mom and dad! Not only will you have fun and save money in the kitchen, you’ll pass on an essential life skill to your kids.

To keep things engaging, make sure you give kids age-appropriate kitchen tasks.

Little kids are great at mixing and stirring, and older kids can get involved with chopping vegetables and actual cooking. Young kids can practice reading skills deciphering recipes, while older kids can work on math and fractions by measuring ingredients.

My toddler loves sitting in his highchair and listening to me host the Mommy Cooking Show.

2. Make Bargain-Hunting an Adventure

We have a running list at our house of things we’re hoping to find secondhand — a toddler-sized winter coat, a reading light, sweaters for me for work, etc. But finding those things can take time, and little kids can be impatient!

Here’s a way to get kids to help in the quest for a good deal: The next time you go to garage sales or Goodwill, have a scavenger hunt.

Give your kids a list of things to find (a stuffed animal that’s not a bear, a book with the word “summer” in the title, an orange shirt, etc.). Tell them the first kid to find five of the items on the list gets a prize… which brings me to number three!

3. Reward Kids with Something Free

When you reward kids for winning a game or accomplishing something exciting, opt for something free.

Let the winner choose what you’ll cook for dinner, or the movie you’ll watch or game you’ll play at your next Family Night.

4. Find Free Family Events

Some zoos and museums offer free admission all the time, while others only do so on certain days.

In St. Louis, we have tons of awesome free resources, like free admission to the zoo and art museum. The public library offers a whole bunch of events for kids of all ages, including a story hour for babies.

To keep up with what’s available in your area, Google your city plus “events” and bookmark the best page (often maintained by the Chamber of Commerce or local tourism board).

Take advantage of opportunities to enjoy family time without worrying about breaking the bank!

5. Pack Exciting Lunches or Snacks

Make interesting, unusual lunches and snacks for road trips and family outings.

Pinterest is full of great ideas for cute and cheap packed lunches, like this DIY Lunchable or these homemade hot pockets.

If your kids have an exciting snack, they’re less likely to be bummed about passing all the McDonalds and Taco Bells along your route.

I estimate we save between $3 and $4 per person for every meal we pack — and our meals are much healthier.

6. Set Up a Savings Account or College Fund for Your Child

When the kids are old enough, teach them some finance basics, like how interest works.

Login to the account you started and let your child see the balance growing over time. This will help instill some financial sense in them, and might encourage them to make their own contributions (like using some of their birthday or Christmas money from relatives).

7. Put an Older Child in Charge of Rewards Codes

There are lots of great rewards programs out there.

Put a child in charge with finding rewards codes from your groceries, and allow them to enter the codes online. You could even let them choose their own reward from the catalog.

This is a free way for kids to learn about willpower and saving up for something. The longer they wait and more they save, the better the prizes they can get.

8. Organize a Clothing, Book or Toy Swap

Plan one with other kids close to your child’s age (and their parents, of course). Have everyone bring things they no longer want, pile everything up in the middle of the floor and swap.

It’s a great excuse for kids and parents to get together and hang out, and a wonderful opportunity for your kids to get some “new” stuff.

It’s also nice for kids who might be having trouble parting with toys they no longer play with — tell your child they might be able to “visit” their toy at their friend’s house.

9. Turn Money-Making Activities Into Fun Family Time

Try coin-roll hunting or one of these other activities with your spare change.

Encourage kids to pursue their entrepreneurial ideas – help them set up a lemonade stand or start a leaf-raking business with friends.

Younger kids may not be able to do anything quite so sophisticated, but they could have fun entering contests with exciting prizes. Look for coloring contests at the local library or check out bigger competitions like the Doodle4Google.

Before your kids earn any money, have a discussion with them about your expectations.

Do you plan to let them spend it however they want? Or do you expect them to put some of it away in their piggy bank or savings account?

This is a good opportunity to teach kids financial responsibility — it’s also nice to make sure they won’t spend all their cash on a candy bar shopping spree!

Whatever you do, keep it fun and light! Your kids might resent your frugal nature if you’re always harping about the high cost of everything. But if you approach saving money as a fun adventure, they’ll probably do the same!

Your Turn: How do you make frugal living a family affair?

Crystal Koenig has learned lots of strategies for saving money while living on a graduate student income. She has previously blogged at Crystal and Bryan in Singapore.

The post 9 Fun Ways This Mom is Raising Future Penny Hoarders appeared first on The Penny Hoarder.



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My Budget Doesn’t Keep Me From Going Out to Eat. Here’s How I Saved $526 This Year on Restaurant Meals

Food: The one item in your budget you can’t seem to cut.

Or can you?

I saved $526 on food this year while going out to eat each week — and I live in New York City.

It all began when I realized just how big a portion of my budget I was blowing on food. Although I’m currently drowning in student loan debt, I don’t like the idea of missing even a minute of my 20s by declining a night out with friends.

I decided there had to be a way to make this work.

I made it my goal to figure out how to continue going out with friends (and/or ordering in!), while also bringing down my overall food expenses.

And I did — here’s how:

Eating Out

We’ve covered restaurants where kids eat free and those with loyalty programs.

But you might be wondering: Is there a way to avoid paying full price at restaurants you already regularly go to? You bet.

Use OpenTable for Reservations

OpenTable is an app for reserving a table at a restaurant, even if you’re already en route. You‘ll earn 100 or 1,000 points each time, depending on your timing.

I eat out most when I’m travelling with my family, so I’ll make all our reservations for the whole week (in any given city) and rack up the points.

Then, you can redeem 2,000 points for $20 at any participating restaurant.

You can log into your account whenever you want to check your points, and they usually send an email when you have enough to begin redeeming them for meals.

Redeeming points is fun and easy: You just log into your account and follow the links.

Although OpenTable is rapidly expanding into new cities and countries, bigger cities usually have higher restaurant participation rates and, of course, more dining options.

Some areas, of course, have better coverage than others. But if your area has no participants at the moment, it could change soon — so keep checking back.

Total Savings: $120 (through points earned via weekly date night reservations)

Coupons and Gift Certificates

Next, come armed with a coupon. Here’s how to find them.

First, Google the restaurant. It may be offering a coupon on its website, Facebook page or elsewhere online.

Second, buy a $25 gift certificate at Restaurant.com. It costs $4 during almost-weekly “flash sales.”

Check the site daily until you see a sale prominently advertised. There’s usually only one catch: The bill has to be over $50 — but that’s usually not an issue when I eat out with friends.

Third, use Groupon and Living Social to browse for restaurants currently offering 50% off coupons.

When you use these sites, get there through a rebate site like Ebates or other similar site for even more cash back. Ebates currently offers 6% cash back at Groupon.

Total Savings: $91 (four Restaurant.com coupons)

Cash-Back Credit Card Rewards

Pay your bill with a credit card that offers cash back rewards.

I usually use my Chase Freedom card for 1% cash back — it jumps up to 5% cash back for about three months each year, since the “special 5% purchase categories” change each quarter.

Another Penny Hoarder favorite is the Barclaycard CashForward World Mastercard, which banks you 1.5% cash rewards year-round.

Total Savings: about $15

More Cash Back from iDine

Get up to 15% cash back (in American Express gift cards) on restaurant bills by simply registering your credit card for free on  iDine.

You’ll start by earning 5% cash back at one of the thousands of participating restaurants. Once you’ve spent $500 within a year, it goes up to 10% cash back, and then 15% for annual spending over $750.

The catch: You have to fill out a 30-second survey about the restaurant, which you’ll get by email about a week later.

I recently paid for a work-related meal at an iDine-participating restaurant. The bill was nearly $400. My company reimbursed the full amount, and I earned extra cash back from iDine.

Total Earned: $50.64 (so far this year)

Combine Everything

True Penny Hoarders will combine all the strategies above.

With solid planning, it’s entirely possible — especially in big cities with lots of competing restaurants.

In New York City, for example, all of the following restaurants were recently listed as participants in everything listed above: 212 Steakhouse, Basera Indian Bistro, Goodfella’s Brick Oven Pizza, Grotta Azzurra Ristorante, KTCHN NYC, Mumbles Restaurant, Onegin and Pietrasanta Italian Restaurant.

Let us know if you find others!

Eating In

If you live in a big city like NYC, you probably know of a number of competing food-delivery apps. Each one offers first-time-user credits, referral credits and restaurant-specific discounts.

Begin by signing up for one of the apps and pay for your first order with a first-time-order credit. Be sure to combine that with a first-time-user discount if available, then order from a restaurant with a restaurant-specific discount.

Earn referral credits by getting friends to sign up for each app. It’s an easy sell because the other person gets a credit towards their first order, too.

I refer every friend that visits NYC from out of town. I’ve also referred roommates, siblings and at least four fellow penny-hoarding friends.

Recently, my parents visited the Big Apple — and the apps aren’t available in their suburb. But I signed each of them up, then ordered food for myself using their first-time referral credits (they wanted to eat out that night).

I got six free meals (two parents times three apps). Plus, I earned six referral credits to use on my own later on!

Here’s a quick roundup of some of the popular apps:

Seamless

  • Referral credit: $10/person (though it’s on hiatus right now)
  • Combine it with a restaurant-specific discount (often 20%).
  • One of NYC’s most popular food delivery apps with the most restaurant listings

Total Saved: approx. $96 ($60 referral credits + $20 parents’ credits + $16 in discounts).

Delivery.com

  • Referral credit: $7/person
  • Combine with a first-time-user percentage discount using a promo code.
  • Combine with a restaurant-specific discount (often 20%).
  • Earn redeemable points each time you use the app.

Total Saved: $87 ($42 referral credits + $14 parents’ credits + $11 in discounts + $20 points credits)

Sharebite

  • Referral credit: $7/person
  • Get $10 off your first order with promo code TFC10.
  • Combine with a restaurant-specific discount (often 20%).
  • Earn a $1 credit if you send in a photo of the food you ordered.
  • As a brand-new app, this app doesn’t have wide coverage yet, but keep checking back.

Total Saved: $67 ($42 referral credits + $14 parents’ credits + $11 in discounts)

Your Turn: Do you have any tips for saving on food? What’d we miss?

Disclosure: Some of the links in this post are affiliate links. We would have shared them with you anyway, but a true “penny hoarder” would be a fool not to take the company’s money. :)

Jared Markowitz is a freelance contributor and working professional in New York City. While not at the office, he’s made it his mission to find ways of making up for his crushing student loan debt payments and always-too-high NYC rent.

The post My Budget Doesn’t Keep Me From Going Out to Eat. Here’s How I Saved $526 This Year on Restaurant Meals appeared first on The Penny Hoarder.



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Interest free loans for pet owners launched, but is there a catch?

Pet owners can now get interest-free loans to pay for emergency medical treatment. Moneywise analyses how it works, and if it’s worth it.

Pet owners can now get interest-free loans to pay for emergency medical treatment. Moneywise analyses how it works, and if it’s worth it. 

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6 Ways to Improve Your Twitter Quality Score and Make Your Ads Profitable

Inbound marketing is all the rage these days, but that doesn’t mean that traditional outbound marketing (a.k.a. advertising) can’t still be effective.

In fact, it has a huge advantage over most content marketing efforts…

It’s fast.

Really fast.

With content marketing, the average campaign takes at least a few months to see any real results.

You invest money upfront, but need to wait for the return. 

With advertising, on the other hand, you spend money upfront, but you see the results almost immediately.

Additionally, there’s no reason why you can’t use both types of marketing.

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That way, you get both immediate and long-term results.

I write a ton about content marketing. If you want to learn more about it, I’ve got you covered.

What I haven’t written about a lot is paid advertising.

In particular, there are a few advertising networks that provide you with a better opportunity than most.

One of those is Twitter.

And that’s what I want to teach you about today.

Twitter has a global advertising revenue share of 0.84%, which makes them one of the top 10 largest advertising networks on the planet.

You can reach just about any audience on the social network, and the ad platform is really simple to work with (and you can scale up easily when needed).

The cost of your Twitter ads depend mostly on one factor: their quality scores.

I’m going to show you how to optimize your Twitter ads’ quality scores, which will have a huge impact on whether or not your campaigns are profitable.

The key ingredient of a great quality score and how it saves you money

In case you haven’t used Twitter ads much in the past, let me give you a quick refresher on the quality score factor.

Twitter, like all businesses, has a great interest in making its users’ experience as good as possible.

On social media, this means engagement.

If users on Twitter find posts useful, they will favorite them, comment on them, re-share them, and click on links contained within them.

From Twitter’s perspective, the more users are engaging with posts, the happier they are.

Enter ads…

Twitter allows businesses to show specific Tweets to a certain audience even if that audience doesn’t follow them. All they have to do is pay. This is also known as advertising.

But as you and I know, most ads suck.

And while they are necessary for Twitter’s business model, they can have a negative effect on the average user experience—that’s a problem.

In order to encourage businesses to create ads that users actually like, Twitter introduced a quality score.

It’s a simple concept:

The more engagement your ad gets, the less you pay. The less engagement your ad gets, the more you pay.

Larry Kim revealed some interesting numbers from experimental campaigns he ran:

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You can see the engagement rate in the picture right next to the cost per engagement column:

  • a 68% engagement rate resulted in a cost of $0.01 per engagement 
  • a 37% engagement rate resulted in a cost of $0.02 per engagement 
  • a 21% engagement rate resulted in a cost of $0.03 per engagement 
  • a 7% engagement rate resulted in a cost of $0.08 per engagement 

Those are big differences.

Those numbers show that an effective ad gets 8 times the engagement of a poor one.

In practical terms: You aren’t going to have a profitable campaign if your engagement rate sucks.

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Got it?

That’s all you really need to know about the quality score.

While you can’t currently see what the quality score of any of your ads is, it is mainly affected by your engagement rate, so focus on optimizing that.

1. Always use Twitter cards when possible

If you’ve used Twitter much, you’ve probably noticed that some Tweets stand out more than others.

That’s because smart users have taken advantage of Twitter cards.

Here’s what a regular Tweet looks like:

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And here’s what a Twitter card looks like:

image09

Obviously, having images and videos embedded into Tweets is going to not only increase the attention they draw but the engagement as well.

There are a few different types of Twitter cards, all of which have their own purpose. For example:

  • Summary card (optional w/image) - Typically used to share links. Shows a description, title, and thumbnail. You can also configure it to use a large image instead of the thumbnail.

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  • App card – You can promote an app on a Twitter card, and users can install the app directly from it.
  • Player card - embed a video (like the first picture I showed you above)

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There are few times where it makes sense not to use a Twitter card in your ad. But as a rule of thumb, always include one because it will improve your quality score.

How to make your own Twitter card: Regular users can create Twitter cards by including the right meta tags on the pages they link to.

For advertisers, it’s much easier (at least now it is).

When you first log in to Twitter ads and create a new campaign, you’ll need to select an objective.

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Most often, you’ll want to use one of the first two: Tweet engagements or website clicks/conversions.

Once you select that, you’ll be taken to a page with four main sections where you fill out all the details of the ad.

If you scroll down to the Compose Tweets section, you’ll see a form where you can create a new Tweet to promote.

In this form, there is another form specifically designed for a “card”:

image01

It’s pretty straightforward to use. You can customize the picture, headline, and call to action. The card description will be taken from your website if available.

Or promote an existing Twitter card: It’s also possible that you already have a Tweet (or Tweets) that you’d like to show to a larger audience.

To do that, just click the “select an existing Tweet” button to the right of the above form:

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I’ll show you why you might want to do this later in the post.

2. How to use “tailored audiences” to only reach users you care about

It’s marketing 101: You need to show your message to the right audience in order for it to be effective.

It’s difficult to sell ice to someone in Alaska, but not too difficult in Florida. Same product, different audience.

More commonly, it’s called targeting in advertising.

Twitter has millions of users, and you don’t want to target all of them with your ad.

Instead, you want to show it—target it—to a small percentage of those users who are actually interested in your product.

If you’re promoting a local event, you want to show it only to the users interested in your industry who also live in your area.

This is something else that Larry Kim tested. Specifically, he tested an ad targeted to people who live in the South Florida area against an ad with no location targeting.

Not surprisingly, the one that was more targeted had an engagement rate three and a half times higher than the other.

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That’s a big difference.

The more accurately you choose your ad settings, the higher the engagement rate (and quality score) you will get.

Targeting on Twitter: When you create a new campaign, you’ll be taken to a long page to set up your ads.

The targeting options are contained in step 2 of the process. At any point, you can see an “estimated audience size” on the right hand side:

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As a rule of thumb, you want to target under 100,000 people with an ad. If your audience is much bigger, it probably isn’t targeted enough.

How do you decrease your audience size? You start picking different aspects of the targeting system.

For example, I specified that I only wanted to target users in the United States with my campaign. Instantly, the audience was reduced from 316 million to 66 million users:

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In addition to the obvious targeting options such as location and gender, there are several other criteria you can pick from. Once you start adding them, the audience size will decrease further.

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Knowing which options to pick is what separates beginner advertisers from experienced ones.

Here’s a hint: You don’t need to use them all.

Many beginner advertisers start by trying to use every targeting option available. Then, when something works well or doesn’t work well, they don’t know which targeting option actually helped or hurt.

Instead, keep it simple, and focus on the main things that separate your target audience.

Overall, however, this is one of the most difficult parts of advertising, so expect to get better at it over time.

One reason why this can be difficult is because ideal targeting options can (and should) be different for every business.

For example, if you sell a fitness course, you can target all of the main countries (US, UK, Canada, etc.). Location isn’t a big issue, but you still may want to filter out countries that you can’t accept payment from.

However, you’d probably want to start by adding an interest. You could browse the “health” section of the interests and then target users interested in weight loss:

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In addition, you might want to target only followers of certain Twitter users who are in the fitness niche.

You can do some really in-depth targeting with the Twitter campaign creator. Invest the time upfront to explore all the different options so that you can find a way to describe your ideal audience.

Find more of your ideal users with a tailored audience: There’s one specific option that can take your quality score to the next level.

Under the “add interests” option, there’s one that says “add tailored audiences.”

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When you click it, it will expand to give you two different options.

Tailored audiences can be really powerful. Essentially, they allow you to create a list of ideal users and let you target them on Twitter.

So back to your two options. For either one, you will need to have some sort of an audience already because you need those ideal users on your list. So, if you have a brand new business, you won’t be able to take advantage of this yet.

Otherwise, let’s walk through what you can do.

The list is pretty self-explanatory. If you upload a spreadsheet with the email addresses of people (probably your existing subscribers), Twitter will see if any of them are associated with existing Twitter accounts.

Then, you can add that tailored audience to your campaign settings and target them with specific Tweets.

Where might you want to use this? Well, say you’re in the process of selling a new product.

It would probably be useful to use Twitter (in addition to emails) to keep the product in your prospects’ minds.

Alternatively, and more useful in most cases, you can target your website visitors.

First, you click that second option, which will show you a screen like this:

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Give it a name, select “site visit” from the dropdown menu, and make sure the tailored audience box is checked.

Then, save the tag and generate the code:

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This tracking code can be pasted into the HTML of any page on your website. Twitter will check if a visitor is a user, and if so, they will be added to your tailored audience.

There are a few situations where this could be really useful:

  • To spread your content – If you tweet a link to a blog post to a random Twitter user (interested in the subject), they have to first click the link (which only a small portion will do), and then decide to engage after. But if you target people who have already seen the content, they already know whether it’s good or not, and you’ll get a much higher percentage of shares.
  • To improve conversions - You can also put the code on specific landing pages. Then, you can offer those users a different bonus (on Twitter) to get them to go back to your site and opt in to your list. This is very similar to remarketing and is a great way to get high quality subscribers for low cost.

Note that it can take a while to create a large enough list to target. If you have a low-medium traffic site, you might have to let it run for a few weeks.

Once you’ve created a tailored audience, it will be available under the “tailored audience” section of the main setup page.

When you have a tailored audience, you don’t need to use any of the other targeting options on the page because you already have a highly targeted audience. Aside from that, your tailored audience list size likely won’t come anywhere near a hundred thousand people.

3. Be selective and reap the rewards

It can be incredibly difficult to predict which of your Tweets will get a ton of engagement.

That’s why you might not want to just jump into creating new Tweets as ads and spending money on them. That’s because if they don’t end up getting much engagement, it’ll hurt your quality score and, therefore, your budget.

Instead, you can first test Tweets by posting them on your account and then use only the very best ones for advertisements (or create similar ones).

Once again, Larry Kim did a pretty cool experiment that shows how effective this can be.

He had a Tweet that was already getting good engagement with his followers. He then promoted that Tweet using Twitter ads. He ended up getting over 100,000 visits and 1,500 retweets from his advertising.

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Guess how much it cost him?

About $250.

In practical terms, he was able to get 400 visits per dollar he spent.

Just about anyone can find a way to get this many fairly high quality visitors for that cheap.

So, if you have a few Tweets that have already gained some good engagement, you can choose “select an existing Tweet” in the campaign option:

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4. Advertising to get more followers? Testing comes first

I briefly mentioned it earlier, but there are many types of ads on Twitter.

Most businesses will focus on just one or two of them.

One common type is an ad to get more followers.

This is good if you plan to continue to use Twitter in the future and would like to get more followers so that you wouldn’t have to pay to show them your content every time you tweet.

If you go with one of these ads, engagement still matters, of course.

When you post one of these ads, this is what users will see:

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In the sidebar, there’s a section for suggested people to follow, and there’s a little “promoted” icon on it if you paid for your profile to be there.

Can you optimize this? Absolutely.

There are two types of reactions that users have after they see this type of ad:

  1. I recognize that name or picture in a good way, so I’ll follow this person.
  2. I’m not sure who that is. I’ll either ignore it, or I’ll look at their profile for more information.

There’s nothing you can do about the first one other than keep building your business and brand. Brand recognition will come into effect eventually.

But the second scenario brings up a great opportunity.

First, your image needs to hook users’ attention. If it looks spammy or uninteresting, the users aren’t going to bother learning more about you.

You should either use a really good-looking logo, or better yet (if possible), use your picture—people are interesting to other people. 

The big opportunity to raise your engagement, and quality score, here is to optimize your profile.

When someone clicks on your name, they see your profile, which consists of your picture, description, Tweets, and background profile picture.

Too many businesses ignore this area, but it can make a big difference in converting the users who visit your page into followers.

I’ll use Brian Dean’s Twitter page as an example of how to create an attractive one:

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Of course, this will perform better than a run-of-the-mill profile page.

As I’ve pointed out in the screenshot, there are three main areas in your control:

  1. The big background area – a chance to display your brand/logo as well as social proof (i.e., the reason why someone should follow you).
  2. Your profile icon – which also shows up in sidebars.
  3. Your description - a little bit about you and why someone might want to follow you.

You should optimize all three areas.

How do you do that?

You split-test.

Essentially, you change one part at a time, run an ad to get followers, and measure the conversion rate.

Then, you try a different description or picture, and see which one’s better.

For example, you use your logo as the small profile picture for one test and see that you end up paying $0.05 per follow.

Then, you use a picture of yourself, keeping the background image and description the same, and see that you only pay $0.03 per follow.

You can test whether you have a large enough sample size by using this simple and free sample size validator.

If you did have a valid sample size in that experiment, you could conclude that the picture of you was more effective. Next, you could test another element on the profile page.

5. How to study the competition and learn from them

Coming up with the perfect Tweet to advertise isn’t easy.

You basically have two options…

You can create Tweets from scratch and run them as ads, and if they aren’t working well, you stop them.

Or you can look at what is already working and create your ads based on that information.

The second option is far superior, and you’ll save a lot of money by finding out which ads work and don’t work before you create your own.

The next question is where do you find these Tweets to base yours on?

Well, you want to make sure that your advertisement Tweets will be well received by your target audience. Therefore, you want to look at the Tweets of your competitors.

They have largely the same audience, which is perfect.

If one of their Tweets is really popular, it would likely perform well as an ad. Conversely, if they get no engagement at all on certain Tweets, try to figure out why your audience doesn’t like them.

If you were running a blog on social media, one of your biggest competitors would probably be Social Media Examiner.

So, your first step would be to find their Twitter page, which you can do with a simple search on Google or Twitter.

Then, look through their past Tweets, and note down which ones have more shares, favorites, and comments than the rest. These are the high performers.

image08

You’ll want to gather at least 5-10 popular Tweets in the past few weeks/months.

These will tell you three things:

  • What types of Twitter cards perform best - i.e., videos, pictures, galleries, apps, etc.
  • What topics perform best for your audience – The above picture clearly shows that the audience likes social media tools (which I would agree with from personal experience)
  • Any particular format that works best - Some audiences like Tweets with questions, others like descriptions, yet others just like a good headline. Mimic the writing style of the most popular posts.

When you take those three factors into account, you’re much more likely to produce a Twitter ad with a high engagement rate (and quality score) than if you randomly created one from scratch.

6. On Twitter, everything moves fast (this affects ads as well)

There are many reasons to like Twitter as a user.

But one of the most common is that there’s always new content.

Even if you return to Twitter an hour after you visited it, chances are you’ll see a completely different feed.

Users on Twitter like this rapid state of change and expect to see new content constantly. If they see old Tweets or similar to old Tweets, they just skip them.

This has implications for your Twitter ads as well.

The first few days you run your ad, it will likely perform as well as it’s going to.

Then, it quickly goes stale, and your engagement rate continues to drop.

image06

This is common on just about every advertising platform, but it happens even faster on Twitter.

If your ad is shown to the same person, it will often be ignored, which can have a serious impact on your engagement rate.

On top of that, the ads will be shown to the most active users in your target audience first. As you approach the last parts of your audience, the less enthusiastic members of Twitter, your engagement rate will, of course, be lower.

How often should you change Tweets? Twitter itself recommends using at least three different ads for a campaign to slow down the speed at which they go stale.

But even if you create several Tweets at the start, they’ll still go stale—it might just take a few weeks.

The only way you’ll know how often to create new Tweets is by monitoring the performance of your ads.

Once the cost per engagement of a specific ad reaches a level that you don’t think is profitable, stop running that ad.

Then, create a new ad.

Here, you have two main options:

  • Immediately create a new, similar ad - You can create a new description and use a new image in your Tweet. Even though you’ll link to the same content, it’ll seem like a new Tweet to users.
  • Switch to a different topic - You don’t want to show the same users the same content right away even if the Tweet is different. Instead, you can switch to a different topic and come back to promoting the first piece of content in the future.

The second option is better in most cases. If you target a similar audience you targeted with the first ad, some people who engaged with the first ad will also engage with the second ad.

If you show them the exact same content, you can’t blame them for not being very interested.

However, if you show them new content, they’ll be as interested as they were the first time.

Then, when you start promoting the first piece of content a few weeks later, it won’t be so fresh in their minds. They won’t mind getting a quick refresher and still might retweet or engage with your Tweet in some way.

Conclusion

Twitter is one of the biggest social media sites on the Internet.

It has hundreds of millions of users, which means it can be used to engage with the target audiences of almost any business.

And while growing an organic presence on Twitter is a good idea, it can take many months to see real results (traffic, shares, conversions, etc.).

Instead, you can get those results a lot faster by using Twitter advertising, which is a fairly well developed advertising platform at this time.

But if you don’t understand the effect the quality score of each of your ads has on the cost of your advertising, you’ll have a difficult time creating a profitable campaign.

If you understand everything I covered in this post, you should know enough to get started with Twitter advertising and be successful.

If there are any parts of the quality score that you don’t fully understand, just let me know in a comment below, and I’ll try to clear things up.



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Here’s a Free One-Year Subscription to Better Homes and Gardens. No, Really

Who doesn’t want a better home? Gardens are pretty nice, too.

If you’ve been waiting to subscribe to “Better Homes and Gardens” magazine, now’s the perfect time to try it out: The new year’s on its way, so it’s time to get healthier, happier and better-decorated.

Oh yeah, and it’s free.

Get a Free Subscription to Better Homes and Gardens

Just click here to sign up for your free one-year subscription. You’ll have to answer a few questions about yourself, but that’s it.

Then sit back and wait for your issues to arrive — and take advantage of all the awesome repair, decoration and nutrition tips you find inside!

Your Turn: Will you sign up for this free magazine subscription?

Jamie Cattanach is a junior writer at The Penny Hoarder. She also writes other stuff, like wine reviews and poems — you can read along at http://ift.tt/1RiB7sH.

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The Danger of the Word “Deserve”

I deserve to go out and have a nice dinner.

Deserve.

It’s a word that implies a pretty high opinion of oneself. It means that you inherently believe that you have done something or have the qualities worthy of a particular reward.

I deserve a shiny, fancy car.

It’s a word that says that you believe whatever sacrifices and choices you made in life ought to result in some sort of a greater reward than what you have already achieved.

I deserve that promotion at work.

It’s also a word that is perhaps the most damaging of all to one’s personal finances and one’s career progress.

First of all, it often ties itself to a reward that will cost you in ways you’re not seeing in the moment.

Let’s say that you’ve decided for whatever reason that you “deserve” a new car. If you go right out and buy that car, you’re taking on a big expense. You’re also likely taking on some auto loans, which will gobble down even more money in the form of interest, and you’re also probably seeing a bump in the cost of insurance.

That money gets taken away from the other goals you hold dear in life. If you go out and buy a new car because you “deserve” it, you’re not receiving that new car as some sort of bonus in life. You’re just stripping money away from other things in your life out of a sense of “deserving” a new car.

In that sense, “deserve” becomes something different. It becomes a reason to indulge greatly in something, even if it causes financial damage in the rest of your life.

It also usually overlooks completely the rewards and benefits you’ve already received for what you’ve achieved in life. Believing that you deserve something more than what you already have implies that you’re overlooking many of the things that you already have and are taking them for granted in your life.

The truth is that most of us are already rewarded beyond our wildest dreams for the things we have achieved in life. The average American lives in a state of perpetual pleasure and affluence that King Solomon would have been deeply jealous of. We have homes and devices and access to amazing nutritional foods and time to spend on leisure of our own choosing.

For the vast majority of Americans, life is amazing compared to anything that has existed before in the world. The work of our lives has earned us things that would leave pretty much anyone in human history stunned at the incredibly affluent lives that we have. To believe that you deserve more is incredibly arrogant.

It also often far exceeds what you have actually earned with your achievements. There is no question that some of us have worked very, very hard in our lives. However, we’ve already received our rewards for those efforts in the form of pay, in the form of greater skills, and so on.

In that sense, believing that you deserve more means that you think you should have more than what you already agreed to receive in exchange for your efforts. You may have worked hard for ten or twenty years, but you did that in exchange for pay or exchange for a degree, not for some other additional reward. You’re using that effort as an excuse or a crutch to allow you to indulge in something that you know isn’t necessary or warranted.

The truth is that believing that we deserve anything is the opposite of a healthy personal finance or even a life perspective.

For starters, it takes away the sense of wonder and gratefulness for the amazing bounty that life gives us. Each of us already has so much, far more than almost anyone else in human history. We have access to libraries of information at our fingertips. We have infinite amazingly nutritional foods available at our convenience for incredibly low costs. We have more leisure opportunities than can even be counted or considered. We have tools for staying in easy touch with loved ones on the other side of the country or the world, people we would likely never see again even 100 years ago. There are more books, more films, more experiences than we can ever fill the free time in our lives with. Almost every job in the world is safer and less demanding physically than almost anything that has existed before in human history. We have devices that provide incredible abilities in our home with just the touch of a button or a flick of the wrist, from coffee machines to refrigerators. We have so much, and simply saying that we “deserve” more undercuts all of that. It says that all of that bounty isn’t good enough.

It also takes the focus away from the abundance we do have and focuses instead on scarcity, the things we don’t have. I’ve written about the idea of scarcity and abundance mindsets before on The Simple Dollar. I found that this quote from Stephen Covey’s book The 7 Habits of Highly Effective People on the scarcity mindset is really insightful:

Most people are deeply scripted in what I call the Scarcity Mentality. They see life as having only so much, as though there were only one pie out there. And if someone were to get a big piece of the pie, it would mean less for everybody else.

The Scarcity Mentality is the zero-sum paradigm of life. People with a Scarcity Mentality have a very difficult time sharing recognition and credit, power or profit – even with those who help in the production. The also have a a very hard time being genuinely happy for the success of other people.

On the abundance mindset, he writes:

The Abundance Mentality, on the other hand, flows out of a deep inner sense of personal worth and security. It is the paradigm that there is plenty out there and enough to spare for everybody. It results in sharing of prestige, of recognition, of profits, of decision making. It opens possibilities, options, alternatives, and creativity.

Believing that you “deserve” something for your efforts (or “just because”) is deeply ingrained in the scarcity mindset. It’s all about having a perspective that there is only one pie, you have a small slice of it, and you should have a bigger slice of it for some reason or another. That inherently makes it very hard to be happy for the success of others, because that means less success for you, so you’re rather uninterested in helping others celebrate or reach their success.

On the other hand, part of the abundance mindset is a sense that you already have “enough.” You are secure in who you are and having more stuff isn’t going to change that. Sure, it might be okay to have something new and different, but you certainly don’t deserve it.

A third problem is that it encourages sacrificing preparations for the future in exchange for unnecessary things in the present. When you decide you deserve a trip or a really expensive meal or a new car, that money has to come from somewhere and, in all honesty, the place it ends up coming from is savings for the future. It’s money that you’re spending now on something largely unnecessary instead of saving it for the future in preparation for a time when you may need it for something more fundamental in life or may want to use it to genuinely improve your life. It takes money out of an emergency fund. It takes money out of retirement savings. It takes money out of saving for a career or a job change.

What do you really “deserve” more? Do you “deserve” that special treat? Or do you deserve to be able to put food on the table and keep the lights on if an employer hands you a pink slip? What about being able to switch to a career that’s much more meaningful for you? What about a stable retirement where you can do the things you enjoy?

All of those things are sacrificed when you “deserve” some expensive thing in the moment.

In the end, whenever you catch yourself thinking or saying that you deserve something, stop yourself. You already have an abundant life, filled with so many good things. Do you really deserve more? Furthermore, if you were to take that money for the thing that you “deserve” and apply it to securing the great life you have now or building toward a genuinely better life down the road, wouldn’t that make things genuinely better instead of just applying a bandage to the problem?

Deserve is a dangerous word. Whenever you see yourself using it or thinking it, stop for a minute. You’re probably about to make a move that isn’t beneficial to your life.

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The Gift That (Really) Keeps on Giving: 21 Subscription Boxes to Give Anyone on Your List

Everyone loves getting presents — they’re a huge part of why the holidays are so exciting!

But most gifts are only given once. Even if they’ll be useful throughout the year, the anticipation of unwrapping something new is a singular event.

Want a way to keep the thrill alive? Try giving the gift of a subscription box or specialty membership.

The subscriber — your giftee — will open a new package every month or two, extending the holiday cheer well past Jan. 1.

Plus, if funds are tight, you’ll benefit from spending a little bit over the course of multiple months. It’s probably easier than plunking down the whole amount on an expensive gift right now.

The Best Subscription Box Gifts for Everyone on Your List

Sound like a cool idea, right? If you’re not sure where to start, read on.

We’ve compiled this list of 21 smart subscription boxes for any personality on your shopping list this year — even the hard-to-buy-for.

The Health Nut

Got someone on your list who’s already beat you to your New Year’s resolution? The vegan, gluten-free, organic, no-GMO type?

Your friend is probably spending tons of cash shopping every week at specialty grocery stores that sell those items.

With a Thrive Market membership, they can get all the goodies that usually line their cart delivered to their door — for just a fraction of the price.

Since Thrive Market’s organic goodies are 20-50% off retail price, they cost about the same as their conventional counterparts. And a one-year membership is just $59.95 — less than five bucks a month.

Plus, rather than receiving a monthly box of surprise goodies, the recipient does all their own shopping, so you know they’ll use everything they receive!

Talk about bang for your buck.

The “OMG, Shoes!” Friend

Tired of being yanked into the nearest shoestore every time you go shopping with that one girl on your list?

Surprise her with a VIP Membership to ShoeDazzle.

She’ll take a style quiz — then a stylist will put together a personalized showroom of shoes she can choose from to purchase each month.

The monthly fee is $39.99, which she can either use toward her next purchase or save if nothing catches her eye (unlikely).

Plus, there’s an option to skip any month as long as you log in before the 6th.

Even if a monthly subscription isn’t your thing, ShoeDazzle is a great place to find a pair of shoes to leave under your friend’s tree — or your own!

Just find the perfect pair and purchase as you would at Zappos or Amazon.

The Sommelier in Training

Mmm, wine.

I love wine so much. Robust reds, crisp whites, perfect-by-the-poolside dry rosé…

What was I talking about?

Oh, right! You probably have a wine lover on your list this year, too! Want a gift that’ll make her happier than a bottle of the good stuff would?

Try three bottles, delivered monthly, hand-picked to suit her evolving tastes.

Club W starts at $39 plus $6 shipping for a monthly box of three wines. Plus, members get access to other steeply-discounted bottles whenever they want — with free shipping on boxes of six or more.

If the savings mean bottles start stacking up, skipping a month is easy.

My favorite part? Every bottle comes with a short video complete, complete with tasting notes. Club W is a great way to become the resident wine snob of any office or circle of friends.

Psst — make sure she checks out this list of 10 surprisingly awesome wines under $15 that totally won’t blow her growing wine cred when she brings them to a ritzy holiday party.

The Girl Who Wears Yoga Pants to the Office — and Pulls It Off

No matter how much pilates I do or how in shape I think I am, I’m never going to be one of those girls who can wear leggings and a slouchy tee and look ***flawless.

Do you know one of these women? Are you able to get over your (understandable) envy enough to buy her a holiday gift?

Consider the FabFitFun subscription box. It comes filled with health, beauty and fitness products for the Instagram queen on your list.

It’s pricier at $49.99 per delivery, but only ships once per season. Since each box contains a $200 value, at four deliveries per year, you’re basically buying one box and getting three free!

The Coffee Snob

Remember when your uncle scoffed at the bag of ground Dunkin Donuts coffee you picked up at the grocery store while he was in town for Thanksgiving?

Whatever, man — you just need a way to get through the morning.

But your uncle might really enjoy a subscription to BeanBox, a gourmet coffee subscription that delivers monthly, fresh-roasted, whole bean Seattle coffee.

And when I say fresh, I mean their beans are shipped within 48 hours of roasting. You can be sure there’ll be no scoffing at this holiday gift.

Plus, it’s only $20 a month — even less if you buy a six month or one year package!

The Proud Nespresso Owner

Got a friend who keeps inviting you over for shots — from their Nespresso machine?

While making espresso at home is a great way to save cash on a latte-a-day habit, the average 65 cents per capsule price of isn’t that stellar. I know lots of coffee shops where an extra shot of real espresso is only 50 cents!

Gourmesso’s capsules start at 45 cents, and they’ll deliver monthly discounted, Fairtrade-Certified Nespresso-compatible capsules to the recipient of your choice.

There are a ton of subscription options for every budget and level of caffeine addiction, so check them out!

The Token Tea Drinker

The tea-folk among us need their fix, too.

Tea Sparrow delivers four hand-picked teas from across the globe every month — enough for 35 afternoon cups. The recipient reviews his favorites, and can be connected directly with the blenders of the teas he wants to buy in larger quantities.

It’s just $20 per month and easy to stop and start. Shipping’s also included for Canada and the continental U.S.!

The Cubicle Dweller Who Never Takes Lunch

We all know someone who lives off snacks, whether they’re too busy to leave their work desk or too footloose to get off the road for a real meal. (“But we’ll be there in five more hours… why stop?”)

Keep that person out of the Cheetos and M&Ms with Graze.

Each box is just $11.99, and comes with eight healthy snacks the recipient chooses themselves — so you know she’ll enjoy them! You can even get them sent straight to her workplace — in case she’s sleeping there, too.

The Mom with Ambition — or the Kid Who Keeps Taking Stuff Apart

Know a mom who keeps talking about how her kid’s definitely going to be an astronaut — before they even hit kindergarten?

Maybe your dear daughter keeps beating you to the breakfast table… only to show you the disassembled parts of the toaster you were planning on using.

If either of these scenarios sound familiar, check out subscription boxes from Kiwi Crate. There’s an option for every curious kid on your list ages 3-16 — or even older. They range in activities from art to engineering, and start as low as $16.95 per month.

Shopping for multiple kids? Check out our list of 20 educational holiday gifts under $35.

The Wanderluster

One of the best-loved parts of traveling is trying all the exotic foreign foods. If there’s someone on your list who’s equal part foodie and footloose, keep reading.

Try the World will deliver a box filled with seven goodies from different countries every other month. Celebrity chefs curate the boxes to help receivers discover and appreciate exotic new cuisines.

Bonus: It features free shipping and tax, and it’s easy to pause or cancel at any time.

Pay $39 every two months, or save by paying for six or 12 months at a time ($105 and $198, saving you 10% or 15%, respectively).

The Do-Gooder

Everyone likes snacks — especially all-natural, organic snacks without trans fats or high-fructose corn syrup.

But your friend who’s always busy at the soup kitchen to hang out on weekends will really love this subscription box.

Every time a snack box is delivered, Love With Food donates at least one meal to an American food bank.

Talk about a feel-good gift!

Boxes start as low as $7.99 per month. Once he discovers them, the recipient can buy any of their favorite snacks through Love With Food’s online portal.

The Busy Professional

Do you know someone who loves to make healthy, home-cooked meals — but spends too much time at the office (or freelancing, or chauffeuring the kids from school to soccer to sleepovers) to hit the store, read the recipe and get dinner on the table before 8 p.m.?

Enter meal subscription plans like Plated and Hello Fresh.

Both of these services operate on a similar model. They put together healthy, delicious recipes and deliver the ingredients in exactly the correct amounts, as well as the instructions to subscribers’ homes.

Basically, it’s a DIY restaurant meal delivery service.

While it’s more expensive than doing buying groceries, it could offer some savings if you’re having takeout most nights. And it will definitely save you time running to the store.

Plus, you get to learn a new recipe to add to your repertoire!

Pricing for either service starts at about $11 per plate. Both services offer diet-friendly menus and the ability to swap meals that aren’t to your taste. See their websites for full details.

The Outdoor Adventurer

Got a friend who always brings her hiking gear to work on Friday so she can get the earliest possible start on her weekend camping trip?

She might be an awesome candidate for a subscription to the Cairn box.

It’s $25 per month, and includes a variety of gear like compasses and cookware, portable foods, apparel like beanies and gloves and skin care/first aid products.

You’ll also get the added satisfaction of knowing you’re help her stay safe and comfortable out there.

The Bookworm

For the family member who’d bring her book to the holiday dinner table if she were allowed, check out the Book Riot subscription box.

This one’s shipped every three months, so you have time to actually read what they send you, and it’s $50 per shipment.

The box is filled with — you guessed it — books! But it also includes bookworm swag like notebooks, genre map posters and even a bookish flask.

As an ex-English major, I’ve gotta say, it looks pretty cool.

Bonus: If said bookworm is a young adult — or full-grown adult with a penchant for supernatural romances and dystopian narratives — they’ve got a YA option, too.

The Pet Parent Who Never Shuts Up About Spot or Fluffy

Guilty as charged: My dog, Odin, is in 90% of my photos. Including one of my headshots. That I use professionally.

The good thing is, animal freaks are easy to cross off your holiday shopping list.

Check out BarkBox for the dog-lover on your list — or KitNipBox for the resident cat lady (no judgments, only purrs)!

The lucky recipient (and furry friend) will receive a monthly box of treats and toys — both start under $20 a box.

The One Whose Manicure is Always On Point

Keep the beauty geek in your life well-bedecked and happy with a subscription to Julep’s Maven program. She’ll receive a monthly box of cosmetics and nail polishes — fully customizable to her sense of style.

Even better, she’ll get 20% off on any Julep product she buys outside her shipments!

Memberships start at just $19 a month.

The Geek

Your favorite nerd will love a subscription to Loot Crate — a monthly delivery of four to eight geeky goods and collectables worth over $45 for under $20 a month.

The recipient also gets first access to specialty crates like Fallout 4 and Mass Effect. Choose from a variety of themed crates — like an anime-specific crate, apparel crates and even goods for pets.

Literally Anyone

Pretty much everyone shaves some of their hair.

Help anyone on your list save a ton of pennies with a subscription to Dollar Shave Club.

That’s right — this super-simple subscription service isn’t just for guys.

Just because it isn’t pink doesn’t mean it can’t shave legs! I’ve been a subscriber for months, and I love how easy it is to upgrade or downgrade your package. You can even request shipments more slowly if you don’t use your blades in time.

Choose from three razor packages — the $1 dual-blade carries a $2 shipping fee, but the quad-blade middle option is just $6 a month. The six-blade “executive” razor is just $9.

The subscriber receives a free razor handle and four fresh blades a month — a huge discount from the replacement-blade drugstore price!

Need More Great Gift Ideas?

These subscription packages are pretty great — but keep your eye on our blog for lots of other gift ideas, no matter who’s on your list!

We even found 100 free gift ideas your friends and family will actually want.

Your Turn: Who on your list will love opening these subscription boxes? Did we miss any of your favorite monthly boxes? Let us know in the comments!

Disclosure: We appreciate you letting us include affiliate links in this post. It helps keep the beer fridge stocked in the Penny Hoarder break room.

Jamie Cattanach is a junior writer at The Penny Hoarder and a native Floridian. She’s passionate about learning, literature, chocolate and finding ways to live the good life as cost-effectively as possible. You can wave hi to @jamiecattanach on Twitter.

The post The Gift That (Really) Keeps on Giving: 21 Subscription Boxes to Give Anyone on Your List appeared first on The Penny Hoarder.



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How Much Should You Spend on Your Pet?

Fluffy and Fido cost a pretty penny, according to a recent report from the American Pet Products Association (APPA). After crunching the numbers, the APPA projected that Americans will spend an astounding $60.59 billion on food, veterinary care, and supplies in 2015 — up more than $2 billion from the $58 billion spent on pets in 2014.

All of this begs the question: Where is all this money going? The report shows overall pet spending is spread across a number of expenses, such as food, supplies, veterinary care, live animal purchases, and pet services such as grooming and boarding.

About 80 million American households (65%) owned a pet in 2015, and dogs were the most popular household pet by far, at 54.4 million households, with cats (42.9 million) close behind. Other common pets included freshwater fish (12.3 million), birds (6.1 million), and other small animals such as gerbils, guinea pigs, and hamsters (5.4 million).

On average, dog- and cat-loving households spent approximately $551 and $398, respectively, on surgical vet visits for dogs and cats, plus $239 and $196 for dog- and cat-related routine veterinary care. In total, the APPA estimates that the average family will spend $1,641 on each dog and $1,125 per cat in 2015 — more than the median savings rate in the U.S. last year, which happens to be zero.

What’s Driving Up the Costs of Pet Ownership?

While the cost of kibble, a rope, and a tennis ball hasn’t risen significantly in years, the costs of veterinary care have risen faster than inflation, notes the report. Further, an array of “luxury” pet services have driven up costs as well, from in-home dog-walking to doggy day care, pet wellness classes, and upscale grooming and boarding services.

A December 2015 report from IBIS World predicts that pet owners will continue to invest in these premium services and products as the economy improves. Where the family dog was once an addition to the family, many people are now calling themselves “pet parents” and treating their four-legged friends as if they were their own offspring. From the report:

“The emerging trend of pet parents has bolstered demand for price-premium pet products and services. Since pets are treated as family members, pet owners frequently lavish them with all-natural and organic pet foods and treats, in addition to high-end services. Examples of pet services go beyond the traditional grooming, dog walking and training; today, premium services, such as pet therapy sessions and pet-only flights, are available for four-legged family members. This is the case particularly for dog and cat owners.”

Because of these trends and a predicted increase in disposable income, IBIS World predicts that profit margins in the pet-care industry could increase from 5.5% in 2010 to 8.2% in 2015.

dogs in stroller wearing hats

Pets are part of the family, and it can be tempting to spoil them with largely unnecessary new products, from gourmet doggie snacks to upscale accessories. Photo: Rain0975

How Much Should You Really Spend on Your Pet?

While luxury pet care is readily available, it doesn’t mean you have to use — or pay for — these “extra” services. Doggy day care while you work might be nice, but it’s probably not necessary in the real world.

If you really want to save on your pets, you should look for ways to make your animals feel special (and perhaps ease your pet-parent guilt) without relying on high-dollar services to make it happen. Trent wrote about his experience saving money on pet care a few years ago, and the lessons he shared still ring true. Here are a few top tips for saving on your pet without sacrificing quality of care:

Adopt, don’t ‘buy’ a pet.

With millions of pets sitting in shelters each year, it’s a shame to not at least consider one of these low-cost, ready-to-adopt animals. The APPA predicts Americans will spend around $2.19 billion on live animals in 2015. You can dramatically cut the cost of acquiring a pet by adopting a homeless animal from a shelter instead of buying a pet from the store or a breeder.

As a bonus, rescue animals often have their shots already taken care of when you adopt them, saving you an extra expense. More importantly, you can be proud of the fact that you saved a life. Check out PetFinder.com to see dogs and cats available for adoption in your area.

When you buy food, stock up.

Whether you buy regular pet food or opt for an organic brand, you can save money by buying in bulk.

“Once you figure out the best food for your pet, don’t hesitate to buy it in bulk and store it somewhere out of the pet’s reach,” writes Trent. “Depending on what you choose as the optimum food, you may find it at your local warehouse store or you may find a bulk seller in your area.”

Groom your pet yourself.

Unless your animal requires excessive grooming, it’s more than possible to groom your pet yourself. YouTube offers how-to videos on grooming nearly any kind of pet, and you can buy needed supplies at your local pet store.

“Taking your pet to a pet salon might be an easy way to get the pet clean, but almost everything done there can be done quite quickly at home and a lot cheaper,” writes Trent. “Don’t be afraid to get your hands dirty and clean your pet yourself.”

Consider boarding options other than fancy dog day cares.

While fancy dog hotels and doggy day cares abound, there are other options to consider when it comes to boarding your pet while you’re away.

We wrote about Rover.com earlier this year — essentially an Airbnb for pets — and highlighted how it is often cheaper than using a traditional boarding service. For as little as $19 per night, someone in your area may be willing to watch your pet in their own home. You can also offset some of your own pet’s costs by hosting another animal for a weekend.

Treat simple things -like fleas, ticks, and heartworm – yourself.

While you might have to read up on how to treat your pet before you get started, taking care of pet-care maintenance yourself is one way you can save. If you’ve actually invested the time to know how to properly care for the pet, then you’ll know what simple ailments you can treat yourself instead of paying a vet to treat,” writes Trent. “It’s much less expensive to order the treatment yourself than to consult a vet for the most common ailments.”

Again, YouTube is an excellent place for how-to videos on basic pet care. You can even buy your veterinarian’s recommended heartworm pills online anywhere from Walmart.com to 1-800-Pet Meds.com.

Consider pet insurance.

Like health insurance for people, pet insurance provides financial protection in the event your pet becomes sick or needs expensive surgery. While many believe pet insurance isn’t a good value, others swear by it. Either way, pet insurance may be worth considering if you’re worried about paying expensive veterinary bills.

The Bottom Line

Thanks to an array of new pet products, higher-quality veterinary care, and luxury pet-care services, the cost of owning a pet continues to surge. Still, you can avoid much of the added costs by taking care of the bulk of your pet’s needs on your own and avoiding flashy luxury services you (and your pet) can probably live without.

At the end of the day, pets can be as inexpensive or expensive as you make them. It’s up to you to decide what kind of lifestyle your pet lives — and how much that lifestyle is worth.

How much do you spend on your pet each year? Do you spring for any pet luxuries? 

The post How Much Should You Spend on Your Pet? appeared first on The Simple Dollar.



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