Tax Return Idea

[MorkieMomma]

Hi,

I've noticed there are a lot of sick little babies on the board lately, some of which have skinparents who cannot afford their healthcare. While this is a very sad situation, and I DO feel for the skinparents, I feel more for the furkid that doesn't deserve to have no vetcare due to poor financial preparation.

That being said...I just wanted to say that there are TONS of vets nationwide who accept account credits, and income tax returns are coming up.

You can't just go in there and withdraw and deposit as you wish...lol..they're not banks!

But you can (at most veterinarian offices) go in with cash, and have them place it as a credit on your account! I HAD NO IDEA! We're going to save some time and effort by taking the petpurses we have for ours..and applying them to our account at the vet's instead.

Our account credit (at our vet)...stipulates that it can be withdrawn in the event of a pet passing away, being rehomed, or if you choose another vet (and will no longer be taking your pets there).

This is a GREAT idea for just about anyone whether you are well off or not. What happens if for some reason your bank is closed out of normal hours? What happens if the ATM is out of money or is broken, etc....in an emergency wouldn't it be nice to know that the money for your pet is already with your vet?

LOTS of people already knew about this, but I sure didn't! So I thought i would let you know.

What a GREAT thing to do with part of your tax return (if you're getting one).

[gemy]

Love this idea. I also love here in Canada buying CSB Canada Savings Bonds; I'm sure the US must have something similar. Automatic withdrawals from your chequing account - wkly/bimthly/monthly - whatever you choose. Then at the end of year one you have the face value of the bond plus one year of accrued interest. They are 100% guaranteed by the Government of Canada. Only slight drawback must be 24hr notice period prior cashing.

Trust me I know, if you walk into Emergency Hospital with bonds in hand, you will get the medical care you need.

[kjc]

Does the vet pay you interest on the money?

[KazzyK810]

So you deposit your money at the vet, but earn no interest....as opposed to investing your money in an interest bearing account or CD?

As for emergencies.... I thought that's what credit cards are for, and then you have a few weeks before you have to pay the balance....plenty of time to get to the bank & withdraw money

[MorkieMomma]

Well, we won't be transferring the entire petpurses to the vet's office, but I for one will definitely feel much better knowing that if something happens...at least (some) of the money set aside for them is already at the vet's office.

There are lots of people (myself included) who do not use credit cards under any circumstances. I don't like them, and never have. lol So while a credit card would be easier for some, for others it isn't an option. I think I get more mail from Visa and Mastercard than I do from anyone else. You'd think they would give up by now...lol!

In any case, no, they don't pay interest, granted, but I still think it is a very good idea, especially for people who have 'issues' keeping money where it should be, being saved for their furbutts.

[kdhawks]

I LOVE the idea of designating tax return money for furbutt emergencies, but I'd be hesitant to give it straight to a regular vet office. What if the pup needs to go to an emergency clinic, a specialist, or a different vet (like if you happened to be out of town)? I think that is a more likely scenario than not being able to access funds in a bank. Maybe I'm biased because I live in one of the biggest banking cities, but there are ATMs everywhere, even when banks are closed - and I'd gladly pay any fee to access my money through another bank's system. Also - if you have the ATM card, you could just use that straight away at the vet office - again, I'd gladly pay any overdraft fees.

Levi's money is in a separate account. I can transfer the money to my general accounts at any time. This plan works well for us - I wouldn't be tempted to touch it on a normal day - but I can access it whenever needed, and can use it at any vet office or clinic we go to.

[Teresa Ford]

JUST A Thought .... With things the way they are in the world, many are using their savings and cashing in retirement just to survive until they get a job, or business picks up.
I know in my age group many have lost much of their extra retirement income because the market is so bad. Health care costs, from prescription drugs to routine doctor visits, dental visits and treatments, health insurance, home insurance, car insurance, electric, gas, water, and food, prices have gone up and up, while income stays the same or is less because there is less money to pay interest or dividends. Even people who are responsible and conservative money managers can have things change quickly. A serious illness or losing a job can happen to anyone. Jobs are being changed, dispersed, eliminated or shipped over seas. Some local and very profitable business have been destroyed in a few months ( like Doggie day care, Hobby classes, Tree trimmers, Home Sales, Small car dealerships, Mom and Pop specialty business , antique shop, bike repair shop and even a fast food place. From personal experience I know this can happen. I hesitate to ever say or indicate that being unable to afford health care for ones self, child, or pet is just bad planning. I pray that I will always be able to have enough to take care of the ones I love and enough to share. Just a thought, no criticism intended.

[Princess10]

I've been giving the vet money here & there when I have some extra. If I put it in savings some other emergency/urgent need will come up that I can spend it on. I'd rather the vet have it and I make no interest so I know the money is there for Princess period. If I had a car emergency, outrageous utility bill or even out of food there's a way for me to get help. There's no way to get 'professional' help (loan, etc.) & justify that it's for a dog for most people. I don't qualify for Care Credit or any other loan in the world, as I desperately tried everything humanly possibly when Princess was sick.

It may not be the "smart" choice for everyone, but for me, it's a great idea & God willing I will put a chunk on my account at tax return time.

[KazzyK810]

Originally Posted by Teresa Ford

Even people who are responsible and conservative money managers can have things change quickly. A serious illness or losing a job can happen to anyone. Jobs are being changed, dispersed, eliminated or shipped over seas. Some local and very profitable business have been destroyed in a few months ( like Doggie day care, Hobby classes, Tree trimmers, Home Sales, Small car dealerships, Mom and Pop specialty business , antique shop, bike repair shop and even a fast food place. From personal experience I know this can happen. I hesitate to ever say or indicate that being unable to afford health care for ones self, child, or pet is just bad planning. I pray that I will always be able to have enough to take care of the ones I love and enough to share. Just a thought, no criticism intended.

I completely agree with that.

My concern is with those that experience monetary difficulties due to poor money management skills. To deposit your money in a non-interest bearing, Federally uninsured account, with your vet...is an example of poor money management and IMO, if you choose that method of managing your finances, you're likely to continue to have money problems.

[Princess10]

Originally Posted by KazzyK810

I completely agree with that.

My concern is with those that experience monetary difficulties due to poor money management skills. To deposit your money in a non-interest bearing, Federally uninsured account, with your vet...is an example of poor money management and IMO, if you choose that method of managing your finances, you're likely to continue to have money problems.

Agree to disagree.

[MorkieMomma]

Originally Posted by Princess10

Agree to disagree.

[Donnainohio63]

I would like to say that there are some vets out there still that will take payments and I am fortunate enough to have one of those, although the Hospital wont, they got there money up front for Sadie. It was an unexpected expense but like I told my husband, I will go sell my ___ to make sure Sadie gets what she needs. He said he didnt think there was a high demand for a 48 year old hooker lol. I guess I am just trying to say that in this day and age it is so hard to save money for your own retirement , let alone anything else.

[Princess10]

I think it's a great idea to save however you can. The important thing is that your pup gets what it needs in the end.

[mky]

I think it is a wonderful suggestion for those getting tax returns to set aside money for vet care, if they haven't already, or don't have enough. I think people need to decide for themsleves which option is best. A few have been mentioned already, paying your vet in advance (crediting your account), savings at the bank or credit union, having a charge card available (could use your return to pay down a card so that available balance is high enough), pet insurance could be purchased and money for the deductible set aside. I'm sure I missed some other ideas. Even if you aren't getting a return, this time of year, as we sit down to do our taxes, it is a good time to review our financial situations and make sure we have a plan to handle unexpected expenses (both for our pets and ourselves) as best as we can.

[DvlshAngel985]

Originally Posted by Princess10

I think it's a great idea to save however you can. The important thing is that your pup gets what it needs in the end.

That's actually not a bad idea. It's not going to be thousands upon thousands in the account, maybe just a couple of hundred. In a time of an emergency or crisis, I don't think about how I'm going to pay for Kaji's care, just that he needs to be seen by a vet.

The only teeny tiny flaw I see is what are you going to do if a pup needs care after hours? Personally, I don't agree with pet insurance. It seems illogical to me to give my money to someone else every month, and then ask them to maybe give me some of it back. I do however have a separate checking account just for Kaji. Whatever people pay for their pet insurance is what I put into that account every month. When I lost my job, the money was still there when Kaji had an emergency, and he did have an emergency. I didn't have to worry about putting up money up front, or charging something to credit and then hope for a reimbursement. I do also have care credit as a backup.