Watch out when people selling stuff try to get you to feel sentimental about their products.
Use of the word “dreams” is a clue you’re being softened up for a sales pitch. Here’s another example I came across in our mailbox the other day. It’s a flyer from a company called Chewy that offers delivery of pet care products. “There’s more to pet parenting than pet supplies,” it says.
Chewy sounds pretty handy as a way to ensure you always have food and other supplies. But, pet parenting? It’s a cute phrase at first, but ultimately cloying and a bit manipulative in that it implies a level of care and obligation that goes above and beyond the normal pet-owner relationship.
I get pets – growing up, we had two dogs over the years and my own family has owned a dog and a cat. Our dog, a cairn terrier, lived 16 great years. Pets in our household were members of the family, but not on the same level as humans. They received lots of attention and exercise, good food, proper vet care and toys, all within financial reason.
The pet-industrial complex taking shape today wasn’t as big a thing when we had our family pets, so that helped us. Today, there are ways to pamper pets that didn’t exist in the past – luxury beds, toy subscriptions and exotic food. Chewy, for example, sells dog food with a real salmon and sweet potato recipe. Heck, add some green beans and I’m there.
Pets have clearly taken on new significance in recent years, partly as a reaction to pandemic isolation. We continue to have broader loneliness issues in society, and pets are an obvious answer.
If you feel a parent-like bond with your pet, I wish you all happiness. Just be mindful of marketing that exploits this bond to sell you things. You can be a loving owner without buying a $259.99 leatherette sofa pet bed.
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Rob’s personal finance reading list
Keep politics out of your portfolio
Strong arguments against making changes in your portfolio on the expectation of a certain outcome in politics. Okay, the U.S. election.
Can your credit line be a lifeline
Thoughts on using your credit line to pay off high-rate debts like a credit card balance. Not an ideal solution by any means, but there are some pros outlined here. The key is that you don’t start accumulating more debt after the consolidation on your credit line.
Life with Wealthsimple Cash
A first-hand look at what it’s like to bank using Wealthsimple Cash, a saving and spending account linked to a prepaid Mastercard. I’ve used my Wealthsimple Cash account while travelling outside the country because, unlike most credit cards, no foreign exchange fees apply to purchases.
Attention, GIC investors
A look at target maturity bond funds, which are an alternative to guaranteed investment certificates for investors who want the comfort of knowing they will get their money back at the end of a fixed term. Regular bond funds never mature – they simply rise and fall in price in reaction to interest rate trends. Here’s something I wrote a while ago on target maturity bond exchange-traded funds.
Podcast fans
Subscribe to Stress Test on Apple podcasts or Spotify.
Reader Comment
“Today, I received fantastic news from Air Canada. My flight to Portugal from Calgary was delayed by 12 hours in March, 2024. I lost a visit with my family in Toronto, which was why I picked that long layover flight in Toronto (12 hours) plus arrived in Portugal later than originally planned and lost a half day of sightseeing time. When I got back to Calgary two weeks later, I submitted a claim for flight disruption with Air Canada, which was rejected. I expected this, as they said it was for some safety issue. On July 3, I received an e-mail saying that my claim was reassessed and was compensated $700, which is amazing because the round trip flights to Portugal from Calgary were $1,300. I travelled with my wife and daughter, so that’s $2,100 compensation. The lesson here: submit a claim, you might get lucky. Great job with the column, I have been reading you for years.”
Do you have a question for me? Send it my way. Sorry I can’t answer every one personally. Questions and answers are edited for length and clarity.
Today’s financial tool
A rundown on penalties for over-contributions to TFSAs, and RRSPs, and how to correct the problem.
In the social sphere
Social media: A Reddit discussion on getting a discount on your cellphone bill.
Watch: A TikTok finfluencer on why she never pays attention to sales.
Money-Free Zone: In memory of the recently deceased Duke Fakir, last original member of the Four Tops, I give you Baby I Need Your Loving. The way the band hammers the word “Got” in the chorus, as in “Got to have all your loving,” is pure Motown craftsmanship.
ICYMI
- Naming a guardian in your will is key to a child’s well-being
- When travelling with your child’s friend, who pays for what?
- Should Melissa, 60, sell her condo or keep it as an investment property?
- Used cars are no longer such a bad deal