interest

Apache is functioning normally

Earning an MBA, or a Masters of Business Administration, degree can increase your salary, teach you specialized skills, and provide you with new career opportunities. But getting your MBA is expensive, with an average cost of $62,600 for a two-year program vs. $59,684 for a master’s degree in general. A degree from a top-tier school can be considerably more, with tuition and living expenses totaling $200,000 for the program.

Just how big of an MBA pay increase you’ll get in return depends on a number of factors, including the school you attend, the field you’re in, and your previous work experience. Here’s what to know about an MBA salary increase and how much you might expect to receive.

Value of an MBA Degree

An MBA degree can make you more marketable to employers, which can in turn help you land a better job and a higher salary, research shows. And while earning your degree can come with a hefty price tag, taking out MBA loans is one option to help you pay for it.

The median starting salary of recent MBA graduates in the U.S. is $120,000, according to the 2024 Corporate Recruiters Survey from the Graduate Management Admission Council (GMAC). That’s significantly more than the $69,320 starting salary of grads with a bachelor’s degree. Knowing how much you might earn could help you determine if an MBA is worth it.

An MBA can also help you advance in your career. The majority of employers in the GMAC survey said that MBA grads typically perform better and move up the ladder faster than other employees. That places them in high demand in the workplace. One-third of employers from across the globe reported that they plan to hire more MBA graduates in 2024 than they did in 2023.

Average Salary Increase with an MBA

Overall, MBA grads reported a median salary increase of 33% after earning their degree, according to the GMAC’s most recent Enrolled Students Report. Full-time MBA students had a 42% increase in salary, while those who worked and studied for their MBA at the same time said their salary increased by 29%.

However, the amount your salary might increase once you have an MBA depends on the field you’re in. Here’s a closer look.

Salary By Industry and Job Function

The following industries tend to pay well for those who have earned an MBA, making them some of the best jobs for MBA graduates.

Finance

Many MBA grads pursue a career in finance, and it can be lucrative. The average salary for an individual with an MBA in finance is $145,257, but the amount can be as much as $195,000, and that’s not counting possible commissions and bonuses.

Technology

Another hot field for those with an MBA is technology, especially as AI becomes more prevalent. The average salary for MBA grads in tech is about $118,000 a year. However, your MBA salary increase could run higher still and may even include a signing bonus.

Consulting

Those who work as consultants and have their MBA average about $83,797 annually, but the base pay can be as much as $117,000. A consultant’s salary may go up dramatically within a few years, especially if they work at a big firm.

Healthcare

Healthcare management is a popular job for MBA graduates. The average earnings are $88,000 per year, although it’s not uncommon for those in healthcare management to bring home a six-figure salary.

Marketing

After graduating with an MBA in marketing, your annual earnings will be approximately $130,721 on average, and they could be as much as $165,000. That’s well above the average marketing salary for those without a degree, which is $81,330.

Business

The salary for a business analyst with an MBA is $104,629 a year, although it can be as much as $128,000.

Accounting

If you earn an MBA in accounting, you could earn an average starting salary of $126,598. Your pay could even be as high as $166,000.

Factors Influencing MBA Salary Potential

In addition to the field you choose to work in, how much you’ll earn after getting your degree is influenced by such things as the MBA program you choose and your previous work history and salary.

These are the three major factors that can affect MBA salary potential.

School Reputation and Rankings

Although it’s likely to be pricier, going to a top-rated school to get your MBA can pay off in multiple ways. These schools tend to have robust networking programs and employer recruitment opportunities. Some colleges may help prospective graduates find internships and jobs. Also, grads from top 10 schools tend to earn more than those who attend other programs.

Before applying to an MBA program, do your research to see where recent alumni have ended up and which companies have recruitment relationships with the school. For instance, certain coveted employers might always attend a particular school’s job fairs. If a university has connections to companies you might be interested in working at, you may want to apply to their MBA program.

Specialization and Concentration

Every MBA program offers different classes, internships, and hands-on opportunities, and it’s important to look for ones tailored to your goals and career path. Choose a program with specialized concentrations in the field you’re most interested in. For instance, some MBA programs specialize in healthcare while others focus on finance.

If you’re currently in a field that you want to pivot out of — moving from marketing to consulting, say — an MBA could help with career change without going back to an entry-level job.

Work Experience and Performance

The more work experience you have, the more likely you are to score a higher salary once you get an MBA. This is especially true if that experience is relevant to the area of study you’re pursuing. Most people going for their MBA have about five years of experience on the job. And some MBA programs require students to have a certain number of years of work experience before they apply.

Your work performance is also a key factor in what you might earn after you obtain your degree. As mentioned above, employers in the GMAC survey found that MBA grads tended to be better performers on the job. High achievers are more likely to command a higher salary.

Maximizing Your MBA Salary Prospects

In addition to choosing the right MBA program, there are other steps you can take to land a good job and a higher salary when you graduate. Here are a few strategies that can help you get ahead.

•   Take advantage of networking opportunities. Get to know your fellow classmates and connect with teachers and faculty members. Go to school gatherings, job fairs, and networking events. Find people who are in the field you’re in, and get to know them.Then make a point to stay in touch with the contacts you make. These people can be valuable resources over the course of your career.

•   Apply for internships. Many MBA schools offer internship programs, and they typically expect students to take advantage of them if possible. An internship can give you real-world experience and also connect you to key contacts who may be able to help you find a job when the time comes.

•   Seek out alumni. Make a list of the companies you’re interested in working for, and then search out any alumni of your school who work there. Ask to meet with them for coffee or an informational interview. Solicit their career advice. If you make a solid connection, they may keep you in mind for future job openings.

Choosing the Right MBA Program

It’s important to find an MBA program that fits your interests and goals. Look for programs that offer concentrations in the areas and fields you want to pursue. Then review the curriculum and the courses offered to make sure they appeal to you.

In addition, learn where graduates of the MBA program have ended up. What companies do they work for and what kinds of jobs do they have? You might even reach out to ask how they felt about the program and if they would recommend it.

Location

Where the school is located is also a prime consideration. If you’re working and going to school at the same time, you’ll need to find a program in your area. You could also explore top online MBA programs if you want to take advantage of a particular school’s offerings when you’re unable to attend it in person. These programs tend to cost $10,000 less than in-person ones, but you may miss out on networking opportunities.

If you’re a full-time student and you have the opportunity to move to attend school, you could choose an MBA program near the area where you hope to work. For instance, if you’d like to be employed in Silicon Valley, a school nearby might be a good choice for you. It may be easier to get an internship there as well as a job after graduation.

Cost

Of course, the cost of an MBA program is likely to be one of the most important factors in your decision. Beyond the tuition, find out the true cost of getting an MBA at any school you’re interested in. This includes living expenses, books, transportation, and so on.

How to Pay for Your MBA

There are a number of ways to pay for your MBA, such as scholarships, grants, and student loans. You may want to consider both federal and private student loans. Federal loans include Federal Direct PLUS loans for graduate students from the Department of Education. The maximum amount you can borrow with these loans is the cost of attendance, which is determined by the school minus any other financial aid you may have, and the loan’s interest rate is fixed.

Private student loans may have fixed or variable rates, and the MBA loan rates you might qualify for depend on your credit history, among other factors. These loans are offered by banks, credit unions, and online lenders. Be aware, though, that with private student loans, you will not have access to the same federal protections and programs you would with federal loans, including income-driven repayment plans. Also, if you refinance federal student loans with a private loan, you could pay more interest over the life of the loan, depending on its rate and term length.

Recommended: Scholarship Search Tool

The Takeaway

Earning an MBA may help you fulfill your career dreams and earn a higher salary. Research shows that the degree can increase your salary by about 33%, depending on such variables as the school you attend and the field you work in. But getting an MBA can be costly, averaging more than $60,000 for a two-year program, up to $200,000 for top-tier schools. So you’ll want to weigh the pros and cons.

If you decide that earning an MBA makes sense for you, there are ways to help cover the costs and develop a solid budget. You can explore all options, including scholarships, grants, and federal and private student loans, as well as refinancing your existing loans.

Looking to lower your monthly student loan payment? Refinancing may be one way to do it — by extending your loan term, getting a lower interest rate than what you currently have, or both. (Please note that refinancing federal loans makes them ineligible for federal forgiveness and protections. Also, lengthening your loan term may mean paying more in interest over the life of the loan.) SoFi student loan refinancing offers flexible terms that fit your budget.

With SoFi, refinancing is fast, easy, and all online. We offer competitive fixed and variable rates.

FAQ

What is the average starting salary with an MBA?

The median starting salary with an MBA is $120,000, according to the Graduate Management Admission Council’s 2024 Corporate Recruiters Survey. That’s far higher than the $69,320 starting salary of graduates with a bachelor’s degree.

Is an online MBA worth the investment?

Whether an online MBA program is worth the investment depends on the program you choose and what you hope to get out of it. Online programs offer greater flexibility and are typically less expensive than in-school programs. According to one estimate, online MBA programs tend to cost about $10,000 less. However, with an online program, you may not have access to all possible networking opportunities or the opportunity to speak with professors face to face. You may also feel less connected to the school and the overall experience.

How long does it take to recoup MBA program costs?

How long it takes to recoup MBA program costs is different for everyone, depending on the price of the program and the salary increase they enjoy after earning their degree. According to the Graduate Management Admission Council, it takes grads of two-year full-time MBA programs about three and a half years of working to recoup the cost. Those who enroll in online MBA programs recoup the cost in about two and a half years of work.

Photo credit: iStock/Xavier Lorenzo

SoFi Student Loan Refinance
If you are a federal student loan borrower, you should consider all of your repayment opportunities including the opportunity to refinance your student loan debt at a lower APR or to extend your term to achieve a lower monthly payment. Please note that once you refinance federal student loans you will no longer be eligible for current or future flexible payment options available to federal loan borrowers, including but not limited to income-based repayment plans or extended repayment plans.

SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.

Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.

Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

SOSLR-Q324-023

Source: sofi.com

Apache is functioning normally

Ensuring your home is safe and comfortable for your pet involves more than just providing food and water. A truly pet-friendly home requires thoughtful planning and adjustments to create an environment where your pet can thrive. Whether you are looking at homes for sale in Seattle, already renting an apartment in Boston, or moving to a rental house in Little Rock, here’s a comprehensive guide to pet-proofing your home, covering everything from furniture choices fit for your established dog to safety measures and grooming practices for your new kitten.

The basics: creating space for your pet

First and foremost, your pet needs a space to call their own. “To make your home more pet-friendly, it’s essential to create a safe and comfortable environment for your furry friend. Start by using pet-friendly furniture and flooring that can withstand wear and tear,” shared the team at Purrfect Grooming. 

One tip for ensuring that your pet is comfortable is to designate specific areas for your pet in your home. Vânia Boto from 4EveryPet suggests that you “provide a comfortable and secure environment for your pet to relax in, such as a cozy bed, a place to hide when they feel insecure, fresh water, and safe toys. For cats, add scratching areas where they can have fun.” Regular maintenance of your pets’ areas will promote cleanliness and comfort.

Invest in flooring and furniture for a pet-friendly home

Choosing the right materials when furnishing and designing your home can have great benefits for maintaining its integrity when you have pets. “Invest in pet-friendly furniture and flooring that can withstand scratches and stains, such as leather or microfiber couches and tile or laminate floors,” suggests Michael Darville from Burns Court Veterinary Care. 

Klarice from Georgia Carpet Industries provided great insights on the best flooring options for pet parents: 

“When choosing pet-friendly flooring, it’s essential to consider three key factors: maintenance, durability, and sound absorption. If you’re looking for carpet, Shaw Pet Perfect Plus Collection excels in sound absorption and is easy to maintain, making it a top choice. 

If you’re looking for hard surface flooring there are two options depending on your budget and needs: Mohawk RevWood Premiere Laminate stands out for its durability and ease of cleaning and COREtec Soft Step Luxury Vinyl Collection combines all three elements — ease of maintenance, durability and sound absorption.”

Choosing the right flooring can prevent unnecessary wear and tear and is a great solution to aid in creating a pet-friendly home.

Don’t overlook pet-safe decor 

Caleb Kidwell, owner of Pet Care for the Palm Beaches, chimed in with some additional tips for pet-safe decor for your home: “Swap out low-hanging drapes for cordless blinds to prevent potential accidents, and consider installing scratch-resistant flooring and stain-resistant fabrics for furniture, which not only protect your home but also reduce the stress of constant cleaning.” 

Outfitting your home with pet-safety in mind can be challenging, however Dr. Sarah Wooten suggests that you “Get down on all fours and view your home from your pet’s point of view – you will see the world from a different perspective that may allow you to see hazards that you would otherwise miss.” Furniture and floors aren’t the only things to keep in mind when making your home pet-friendly, be sure to take note of the above advice when renovating and decorating your home for your pets safety!

Photo of Charles in Louie de Coton cooling sun shirt courtesy of Louie de Coton, shares some tips on how to choose the proper apparel for your furry friend:

“Puppies and small breeds: Puppies and smaller dog breeds often need extra warmth, especially in cooler climates. Sweaters and cozy jackets can help maintain their body temperature. Louie de Coton provides high-quality, soft, chemical-free
clothing with body temperature regulators that are perfect for keeping your new pet comfortable during chilly days. Their sweaters and jackets are made from gentle, hypoallergenic materials that are both stylish and functional.

Protection from the elements: New pets, particularly those with short coats or sensitive skin, may benefit from raincoats or waterproof clothing to stay dry during walks in the rain. Louie de Coton’s raincoats are designed with both practicality and fashion in mind. They feature waterproof and windproof fabrics and comfortable fits to protect your pet from getting soaked, while still looking chic.”

Prioritize maintaining a safe environment

Pets are inquisitive creatures that can often find their noses sniffing in places that they shouldn’t be, so it’s important to keep this in mind when making a pet-friendly home. Josh Nolasco from Honest Renovations shared his thoughts on how to best create a hazard-free space for your pet: “Hide or secure electrical cords to prevent chewing, consider using cord protectors or cable management products. Also, using trash cans with secure lids or placing them in cabinets can help prevent pets from rummaging through them.”

Tori Levitt, Chief Kindness Officer & Concierge at Doolittle’s Doghouse notes that “Providing a safe haven for the family pet is as critical as proper nutrition, daily exercise, mental stimulation and affection. Some tips for keeping them safe include: removing toxic plants, both indoors and out, and storing medications and cleaning products in high cabinets. Small objects can be choking hazards, especially those with batteries (like remote controls), and non-toxic cleaners are best for floors and surfaces pets are in close contact with. For pet parents looking to expand their knowledge on the best ways to care for their pets, the American Animal Hospital Association (AAHA) has great resources to explore.” 

The team at DoggyLoveandMore also weighed in with their thoughts on this topic, as well as sharing some best practices for getting a new puppy acquainted with things outside of their new home: “Bringing a new fur baby home is so exciting but also overwhelming. Our top tips for new pet parents are to puppy proof your home by making sure kitchen cabinet doors are always closed, and placing plastic bags or anything they could choke on out of reach.”

Some other best practices include creating “designated spaces for your fur baby to eat, sleep, and play, which will help them to feel more comfortable & secure in their new home. Be sure to keep any potentially harmful items out of reach. Lastly, consider using baby gates to restrict access to certain areas, and pay close attention to household plants as some can be toxic to pets,” shared Bryten Hanson from Revive HQ. Zach from Romingo is also a proponent of using baby gates, adding that they help “prevent your pet from chewing on valuable furniture and support potty training. During the first few weeks, it’s important to limit your pup’s access to the entire home until they begin to learn the rules.” 

Exercise consistency and patience

While bringing a new pet home is an exciting time for us humans, sometimes the adjustment period for your new buddy can be stressful. Being patient and exercising consistency are important for the long-term health and happiness of your pet. See the tips from our experts below to understand more:

Consistency is key: “When raising a puppy, consistency is key. While their cuteness can make it tempting to bend the rules, sticking to a routine helps your pup understand expectations and feel secure. Whether it’s meal times, potty training, or obedience commands, being consistent ensures your puppy develops good habits and grows into a well-behaved adult dog,” shares Siyen from Co Pet Parent.

Be patient: Jennifer from Unleashed with Love notes that “Bringing a new pet home is a lot like waiting for the mailman — patience is a must!  While it might be familiar territory for you, it’s a whole new world for your furry friend. Set up a cozy, designated area where your pet can retreat to feel safe and secure. As little space and patience now will help build a tail-wagging, lifelong bond.”

Maintain your pet’s health through regular grooming

Another prudent tip is to ensure that your pet is on a grooming schedule. Sarah Hayden from Mobile Pet Shine details some important things to know about the benefits of keeping a tight grooming schedule for your fur baby: “Denver’s premier grooming service, Mobile Pet Shine, recommends setting your pets up on a grooming schedule. Regular bathing and brushing removes dirt, debris, and dead hair to prevent matting and reduce the likelihood of skin infections. Not only does routine grooming help keep your dogs and cats feeling their best, but it keeps your home clean as well. Pet hair and dander can cause air quality issues that affect your family’s health, along with clogging HVAC filters that impede your system’s efficiency.” 

Grooming needs may vary depending on your pet and what they require. When determining a grooming schedule, there are variables to consider to make certain that you are providing your pet with optimal care. “Is your cat an indoor buddy, outdoor adventurer, or both? An outdoor cat will require baths more frequently,” notes Barbara Nyke from Barara Nyke Interiors & Design.

Barbara also shared that “The fur length of a longhaired cat requires more maintenance. My Betty, no longer prancing about on earth, was a gorgeous Maine Coon and needed regular brushing to prevent matting. Persian cats do as well.” Lastly, some conditions like skin problems, ticks and fleas may require additional grooming practices like bathing. However Barbara warns that bathing a cat may be more of a challenge than you are prepared to take on: “Personally, I only recommend bathing a cat if you have nerves of steel and you’re wearing body armor!!!”

In addition to maintaining the cleanliness of your home, ensuring that your pet is groomed is also crucial to your pets health. Our amazing experts at Purrfect Grooming, a prime resource for those local to the Florida area, recommend “Regular grooming, such as bathing and brushing, which helps maintain your pet’s hygiene and reduces shedding, keeping your home cleaner,” with Michael Darville from Burns Court Veterinary Care adding that “Grooming and bathing are essential to maintain your pet’s health and reduce shedding, but be cautious with over bathing, as it can dry out their skin. Lastly, avoiding using products with harsh chemicals or strong scents is crucial. This mindful approach to pet care protects your pet’s sensitive systems and shows your commitment to their well being.”

It’s not all about the fur. Trim their nails, too

When thinking about grooming your pet, don’t overlook the importance of keeping their nails trimmed, both for the health of your pet and your home. “If you have hardwood floors, rugs or nice couches, one of the best ways to keep them from getting damaged by your pups is to consistently trim their nails. 

Long nails can scratch your floors, and they also make it easier for your pup to slide and get injured on slick surfaces. Dogs’ nails have a vein in them, so it’s important to keep them trimmed on a regular basis to make it easier to keep them short. The longer they grow, the harder they are to trim. If you’re uncomfortable trimming your own nails, check out your local groom shop like Paws ‘n’ Rec – your furry family member will love their s’paw day,” suggests Madison Velez from Paws ‘n’ Rec.

Avoid strong scents

As mentioned above, avoiding strong scents around your home is in your dog’s best interest. A dog’s nose is incredibly sensitive, with approximately 220 million olfactory receptors in their noses, compared to around 5 million in humans.

“When bringing a new dog home for the first time, it’s important to sniff out certain products to keep things safe and comfy. Strong-scented cleaning products can make your dog’s sensitive nose do backflips (and not the fun kind). Stick to pet-safe, unscented, or lightly scented cleaners to avoid turning your home into a nose-wrinkling zone,” notes Jennifer from Unleashed with Love.

Choose the right food

Choosing a nutritionally balanced food is imperative to ensuring the long-term health of your pet. With so many options on the market, making this decision can be a tough one. Luckily, pet expert Melinda Meltzer from Stay and Play Pet Sitting shared some tips to aid in picking the proper food for your pet: “The right food is imperative. Choosing the food that is complete nutritionally and offers all the vitamins – A, C, and E – that was formulated by a holistic vet is a sure fire way to reduce vet visits and the cost of being a pet parent. 

With so many options on the market, it can be confusing on which is best for your pet-friendly home. A pet food without fillers, corn, or artificial colors is a great start. But changing food can cause stomach upset and a mess to clean up. So I recommend Life’s Abundance pet food, supplements and treats. The company has been around for over 20 years and never had a recall. As a pet care professional, with a good conscience and my expertise, I highly recommend it”

Positive reinforcement through toys and treats

Making sure that your pet stays entertained and amused will go a long way in creating a pet-friendly home. But don’t worry, great toys can be provided with a very modest investment on your part:

“You don’t have to break the bank to keep your new dog entertained — sometimes the best toys come from everyday items! Toilet paper rolls can be transformed into fun, DIY toys that will have your pup wagging with joy. Simply stuff them with treats or use them for a game of fetch, and watch as your dog enjoys a budget-friendly playtime. Creativity and a little bit of resourcefulness can turn simple items into hours of tail-wagging fun!” notes Jennifer from Unleashed with Love.

For cats, provide “Standard carpet covered posts with no levels, or multiple levels with scratching posts,” suggests Barbara Nyke from Barara Nyke Interiors & Design. She also shared that for an economical alternative, you can “make your own using twine wrapped around a post nailed down to a 12 x 12 covered plyboard. My Bullitt loves his recycled cardboard scratching board. When it’s all scratched out, it goes into the blue bin!”

Photo of Boone courtesy of Tara Lynn & Co.

To be sure that your pet is as satisfied as possible, tailor your toy and treat selections specifically to fit your pet. Tara Lynn, pet photographer at Tara Lynn and Co., advises to “Make sure you have age-appropriate toys and chew sticks or treats available. Puppies naturally love to chew as they lose their puppy teeth and older dogs can get bored. Having dog-specific chews available will encourage them to leave your shoes and furniture intact. For cats, a scratching post is a must to help them sharpen their claws without ruining your furniture.” 

It’s no secret that pets love a good snack, healthy treats are a great source of pleasure and amusement for your furry friend. Melissa, owner of Dough ReMia has great advice for treating your pup:

“My words of advice for pet-proofing your home would be to make sure you stock up on healthy dog treats! I would make sure you have a designated area to keep your dog treats so that you are always prepared to reward their good behavior! As well, I would recommend that you store your dog treats in a cool, dry, safe place to maintain freshness. When you move into your new home, gradually offer dog treats to help your pup get acclimated more easily. This will help your dog feel more relaxed and have less stress/anxiety in their new environment. BONE Appetit!”

All in all, maintaining your pets health and well-being with engaging toys and tasty treats is a great practice!

Exercise your pet to keep them fit and fab

In the vein of keeping your pet adequately entertained, ensuring that they take part in a lot of exercise is a great way to fulfill both their mental and physical needs. Madison Velez shared additional information on the importance of keeping your dog tired. “A tired dog is a happy and less destructive dog. Many behavioral issues that impact our homes are the result of dogs with pent up energy. Coming home to a chewed up couch or new pair of shoes can often be avoided with longer walks, training sessions, or a few days a week at your local doggy daycare like Paws ‘n’ Rec, where dogs go to chase their dreams, not their tails.”

There are many ways to ensure that your pet gets adequate exercise, one of which is a walk around your neighborhood. Though we might not like doing it, one non-negotiable aspect of walking your dog is picking up their waste. Beth from the dooloop shares best practices for handling this challenging part of walking your dog: 

“Making your dog a welcome addition to the neighborhood is all about training and responsibly dealing with their poop out on walks! Having a dooloop bag poop holder shows your neighbors that you’re taking care of your dog’s poo and maintaining leash control. The harsh truth is that there are many lazy reasons that people don’t scoop. Don’t be that person, it’s bad for the environment, neighborliness, and will make your beloved dog less welcome. Spread peace, not poo!”

The dooloop is a hands-free bag holder designed to keep your hands free of poop when out walking your furry companion, and is a great way to responsibly handle your dog’s waste on a walk.

Photo of the cavalier sisters sporting Louie de Coton courtesy of @coco_thecavie

Check out these additional suggestions from Fay Anderson on the best ways to keep your pet safe when walking: “Visibility is key for safety during evening or early morning walks. Reflective clothing or accessories can help ensure your pet is seen by others. Louie de Coton offers products with reflective properties that enhance visibility during low-light conditions. Their apparel and accessories are designed to be functional while maintaining the brand’s signature stylish look. Whether your pet needs protection from the elements, comfort for sensitive skin, or simply wants to look their best, Louie de Coton provides high-quality options that cater to every need.

Don’t turn a blind eye to socialization and training

Key aspects of owning a pet are adequate socialization and training. Ensuring that your dog is comfortable interacting with other humans and pets, especially when they are outside of the safe environment that you’ve built for this at home, will go a long way in contributing to your pets well-being. Below the team at DoggyLoveandMore share insight on some proven ways to socialize your pet: 

“We recommend slowly introducing your pup to neighbors, other dogs and parks. Some pups and rescues love those things right away but others take time to build up their confidence. Let your pup test the waters at their own pace and before you know it, they’ll be leading you around the neighborhood instead of the other way around!”

Socialization and training go hand in hand when you are focused on welcoming a new pet for your home. Take heed of these important tips from Pet Parent Playbook when training your pet:

  • “Potty Training Basics: Start potty training right away! Take your puppy outside often, especially after meals and playtime. When they go potty outside, reward them with praise and treats.
  • Crate Training: Crate training can help with house training and give your pup a safe space. Introduce the crate slowly with positive reinforcement and never use it as a punishment.
  • Schedule and Routine: Set a regular schedule for feeding, playtime, and potty breaks. This will help your puppy feel secure and know what to expect.”

Utilize technology for a pet-friendly home

While caring for a pet can be incredibly fulfilling for pet parents, it most definitely comes with unique challenges. Fortunately, technology in this day and age makes this task easier than it ever has been in the past. “To truly pet-proof your home, think beyond the basics. Invest in smart technology like pet cameras to keep an eye on your furry friend even when you’re away. suggests Caleb Kidwell from Pet Care for the Palm Beaches. 

Jennifer from Unleashed with Love also recommends pet cameras, noting that “For pet owners who find themselves missing their new furry friend when they’re away, interactive pet cameras are a game-changer. Not only can you check in on your pet’s adorable antics, but these cameras also help ensure they’re not turning your home into their own personal chew toy amusement park. With a quick glance, you can enjoy seeing those wagging tails and mischievous glances without the worry of a little canine chaos!  One of our personal favorites is Furbo — it lets you toss treats and chat with your pups even when you’re not home!” 

Cameras are not the only pet technology that can make your life easier when making a pet-friendly home; appliances like specialized vacuum cleaners and automatic feeders are other handy appliances to have around: “Regular grooming and bathing will help keep your pet comfortable and your home free from excess fur, but also investing in a high-quality vacuum specifically designed to handle pet hair will ensure your floors stay clean and fur-free! We also advise that you be cautious and keep any chocolate chip cookies out of reach!” shares Laurie Harris, founder of Maliko.

Barbara Nyke from Barara Nyke Interiors & Design also recommends investing in a feeder. “Automatic pet feeders are purrfect for both cat and dog kibble and come with a range of awesome features such as a variety of styles, different price points, and a common type are machines that dispense specified amounts of food- while other styles use multiple slots that you fill with food. In addition, some feeders can be programmed for several feedings per day. These feeders may have cameras, two-way audio, and other smart features! If an automatic pet feeder sounds like the perfect addition to your pet routine, we’d love to help you find the best fit.”

If you need some extra assistance maintaining the health of your pet, smart technology has many viable options to consider!

Create the perfect outdoor space for your pet

While making the interior of your home fit for habitation by your pet is of utmost importance, don’t forget to make necessary adjustments to any outdoor spaces that your dog may have access to. Steve from Fetch the Sun advises that “If you plan to have your dog spend a significant amount of time in your yard, ensure that they have access to adequate shade and water. Also, create a spot where they can lie down comfortably. 

Consider building or purchasing a doghouse and keep their water bowl filled with clean, cool water. Always keep an eye on the weather if you plan on keeping your dog outside for extended periods; dogs can overheat easily, and colder temperatures can be dangerous for your pup.” Steve also warns to mitigate dangers in your outdoor space, sharing the following tips to keep your pet safe:

  • “Store chemicals away from areas your dog can access. These include, but are not limited to, pesticides, rat poison, weed killers, hot tub/pool chemicals, etc…
  • Remove toxic plants. Many types of lilies, daffodils, berries, and decorative flowers are dangerous for dogs to ingest.
  • If you live in an area where there is dangerous wildlife (coyotes, snakes, racoons, etc…), ensure you are taking steps to keep them out of your yard. 
  • Clean up sharp tools and garden items when not in use.
  • Fill in holes.
  • Cover any outdoor wiring.”

Take measures to make travel and moving pet-friendly

Pets become accustomed to their surroundings and routines, and disruptions can cause them stress and unhappiness. Unfortunately, maintaining a completely stress-free environment is not possible at all times, so when events like travel and moving arise, do your best to make the changes as seamless as possible. “Moving is a very stressful time and pets feel your emotions.  When you are stressed, they feel it. Try to keep your pets bed, and food in the same place until it is time to pack them up.  Pack up your pets’ things last.” advises Rebeca Hennie from Dog Gone Taxi. 

Rebeca also has you covered with suggestions to keep your pet as happy as possible during travel: “If flying with a pet – purchase a travel kennel 2-3 weeks in advance. Put your pets bedding inside so it knows this is a safe place. When it is time for the actual pet move day [this can be a different date than your move day]  stay calm and don’t get too excited or emotional. 

If you show that you are high on emotions, your pet will think something is wrong and that the kennel is not a safe place. If you are moving overseas, we recommend using a professional IPATA pet shipper like Dog Gone Taxi. By following these pet-proofing tips, you can create a safer, more comfortable environment for your pet.” Take some of the stress out of travel and moving with your pet by using the above tips and tricks!

Making a pet-friendly home: in a nutshell

Setting up a pet-friendly home is an essential step in creating a safe and welcoming environment for your furry friends. As is spelled out above by our knowledgeable experts, by incorporating the right furniture, flooring, and safety measures, you ensure that your pet’s space is both comfortable and secure. Take initiative to ensure that regular grooming and careful management of potential hazards are a part of your pet care routine, and embrace smart technology to aid in maintaining a well-organized space. With these strategies, you’ll be well on your way to making your home a happy haven for your beloved pets.

Source: rent.com

Apache is functioning normally

A new paper from Yale professor Kelly Shue argues that consumers mistakenly wait to take out mortgages and other long-term loans when the Fed is expected to cut rates.

Their confusion seems to be related to conflating short-term and long-term rates, which don’t necessarily move in tandem.

In fact, short-term rate moves are typically already baked in to long-term rates, meaning there’s no need to wait until the cut is official for an even lower interest rate.

The savings of short-term rate cuts should already be reflected in the interest rate of a long-term loan such as a 30-year fixed mortgage.

Despite this, home buyers and even professional forecasters tend to get this wrong according to the research.

Short-Term Rates vs. Long-Term Rates

Consumers have long misunderstood the relationship between the Fed and mortgage rates.

Many incorrectly believe that the Fed directly controls mortgage rates. So when the Fed announces a rate cut, prospective home buyers expect mortgage rates to come down as well.

For example, the Fed is widely expected to lower its fed funds rate by 25 (or maybe 50 basis points) at its September 18th meeting.

When this takes place, there will be a slew of articles written about how “mortgage rates fall” and the like.

Some may even assume that the 30-year fixed fell by the same amount, whether it’s 0.25% or .50%.

So if the 30-year fixed was 6.50% the day before the meeting, a hypothetical home buyer might think the going rate is 6.25% or even 6% the next day.

In all likelihood, they’ll probably be disappointed if and when they speak to their loan officer or mortgage broker.

Chances are mortgage rates won’t budge much at all. And perhaps worse, they could actually rise after the Fed announces a rate cut!

This all has to do with short-term and long-term rates, with the fed funds rate a short-term rate and the 30-year fixed a long-term rate.

While they can impact one another, there isn’t a direct correlation. This is why you don’t hear mortgage rate experts telling you to use the fed funds rate to track mortgage rates.

Instead, the 10-year bond yield is a good way to track mortgage rates, since historically they have a very strong correlation.

Simply put, they are both long-term rates and function fairly similarly because many home loans are paid off in a decade or so despite being offered a full 30 years .

Should You Wait for the Fed to Cut Rates Before Refinancing (or Buying a Home)?

That brings us to consumer behavior surrounding rate cuts and hikes. Before we talk about rate cuts, which are finally on the table, let’s talk about rate hikes.

When the Fed is expected to hike rates, people tend to rush out and lock their loan before rates go up even more.

The researchers, which include Professor Shue, Richard Townsend, and Chen Wang, argue that this too is “a mistake.”

They note that knowing “that the Fed plans to gradually increase short rates does not mean that long rates will gradually increase in tandem.”

Conversely, they say “the long rate jumps immediately in response to such an announcement,” meaning there isn’t a rush to lock your rate before the Fed acts.

Now when we flip the script and consider a rate cut, the same logic applies. If you’re waiting to buy a home or refinance your mortgage due to an impending rate cut, it might be a mistake.

The Fed rate cuts are mostly telegraphed in advance and known to market participants. So there won’t be a big surprise on the day of the announcement that leads to a significant improvement.

At least not with regard to the rate cut announcement itself. This is why mortgage rates often defy logic on the day Fed announcements take place.

Sometimes the Fed raises its rate and mortgage rates fall. And sometimes the opposite happens.

And again, this is due to the disparity between short-term and long-term rates.

What About Long-Term Monetary Policy?

While I agree with the researchers on the point of short-term rate cuts already being baked in to longer-term rates like 30-year mortgages, there’s one other thing to consider.

The expected long-term monetary policy of the Fed. If they are just beginning to cut short-term rates, there is a chance long-term rates continue to improve over time.

I know, the researchers already debunked this with their talk about gradually increasing rates, saying people “fail to recognize that the current long rate already reflects future expected changes in short rates.”

And at the moment, the consensus is for the Fed to cut rates 200 basis points or more over the next year, per CME.

By the September 17th, 2025 meeting, the fed funds rate could be in a range of 3% to 3.25%, down from 5.25% to 5.50% currently.

Sure, you could argue that this too is somewhat baked in to long-term rates at the moment, but there’s still a degree of uncertainty.

If and when the Fed does actually begin cutting rates, instead of merely hinting at it, we could see longer-term rates trickle down further.

Of course, that will depend on economic data and things like inflation and unemployment, which will only reveal themselves over time.

But if you look at the rate tightening cycle, which involved 11 Fed rate hikes between early 2022 and mid-2023, you’d see that mortgage rates kept getting worse and worse.

Granted that too was driven by the underlying economic data, namely out-of-control inflation.

Still, the 30-year fixed surged from roughly 3% in early 2022 to around 8% during that span of time. So those who did go out and lock their rate ASAP were rewarded.

Even someone who chose to take out a 30-year fixed in March 2022 was able to snag a ~3% rate versus a rate of nearly 6% by as early as June of that same year.

In other words, what the Fed has already indicated might be baked in to rates today, but what we’ve yet to find out could push rates even lower as time goes on.

There’s no guarantee mortgage rates will continue to decrease from here, but it’s decently likely if economic data continues to come in cold.

Before creating this site, I worked as an account executive for a wholesale mortgage lender in Los Angeles. My hands-on experience in the early 2000s inspired me to begin writing about mortgages 18 years ago to help prospective (and existing) home buyers better navigate the home loan process. Follow me on Twitter for hot takes.
Latest posts by Colin Robertson (see all)

Source: thetruthaboutmortgage.com

Apache is functioning normally

The bachelor party decided to go to the casino. I happily went along for the ride. The behavioral finance nerd in me was ready to witness fascinating behavior. Gambling can certainly be entertaining, but it’s not financially savvy. As long as you know that, you’ll be ok – albeit a little lighter in the wallet.

This particular casino had an engaging “loss leader.”* They offered $15 in free casino credit to new gamblers. The scheme, of course, is cynical. They hope those free bets hook you, knowing that a regular gambler will surely lose back more than the free $15 over a long period of time.

*a strategy where a product is sold at a price below its market cost to stimulate other sales of more profitable goods or services.

And all it takes is one true addict to make up for hundreds of free giveaways. Like I said…cynical.

Most of our friends went to the blackjack table (where the per-hand odds are ~42% for the player, 50% for the house, and 8% ending in a tie), betting in their own cash on top of the free $15 credit.

My buddy, Trey, and I cheaped out. We took our $15 casino cards and went to the dollar slots. Let’s push some buttons and have free fun until the $15 disappears.

But we got lucky.

Trey turned his $15 into ~$80 of real money, and I left with ~$200. Our $30 in free credit became $300 real dollars. We counted our blessings and walked away. Appetizers are on us, fellas!

Meanwhile, the blackjack players ultimately played until their chips disappeared. They had fun but they lost their money. And yes – a few of them learned of our “success” at the slots and felt aggrieved by our dumb luck.

But if we look strictly at the financials, I see a clear takeaway:

  • Trey and I “played” in a way that was literally impossible to lose. As long as we didn’t succumb to any impulse to wager our own money, we had a 0% chance of losing. Granted, we got lucky to leave with gains. But we weren’t going to lose money.
  • The blackjack guys played in a way guaranteed to lose, barring any luck. The more hands they played – each a bet with odds against them – the more likely their loss.

It’s true – I’m not the most fun guy at the casino.

But implore you to apply a similar idea to your investing.

The Market Ain’t A Casino

First things first: the market isn’t a casino, and investing isn’t (or shouldn’t be) gambling.

I understand why it can feel that way, especially when we hear stories about GameStop, AMC, or Enron. Big bets, big wins, and big losses over short periods.

The market, as a whole, isn’t roulette, though. It simply represents the ownership of businesses—a small slice of the global economy that we each own. Owning a business is not the same as blind gambling. You’re not depending on dice or cards to fall your way.

Stock investing involves exchanging money today for the future income stream of a particular business. Or, in the case of a broad fund of stocks, the future income stream of the global economy. The economy doesn’t over- or under-perform based on dice or cards.

Investing in stocks – at least the way I implore us all to approach it – isn’t gambling.

Bets in the Market

But the stock market isn’t a guarantee, either. There will be times when we invest on Monday only to see our investments decline in value on Tuesday. In fact, the shorter our investment period, the more likely we’ll lose money.

I don’t want to play blackjack with my retirement. I don’t want to make coin-flip bets.

But the more the odds are in my favor, the more I’m willing to wager. In one of Berkshire Hathaway’s annual meetings, Warren Buffett says something akin to, “If you give me 5:7 odds, we’d be willing to wager a very large sum of money.”

FYI: That’s a ~58% chance of winning.

Personally, I don’t have enough extra money to make too many 58% bets. I’d much rather make 90% bets. Or even better, I’d rather bet with the casino’s money. I want to feel really sure that I’ll walk away a winner.

The longer you invest in the stock market, the more likely you’ll walk away with profits. That’s a wager I’m willing to make.

Some Bets I’m Willing to Make

As of writing this very sentence, the S&P 500 is at 5526.

Will the S&P 500 be higher or lower in one month? I don’t know, and I don’t care. I don’t want that bet.

Will the S&P hit 5626 (100 points up from now) before it hits 5426 (100 points down)? I don’t want that bet, either.

Both those bets—involving short periods and small changes (~2%) in the market—are too close to 50/50 bets. I’m not willing to take those odds. It’s too risky. That’s why, in my opinion, stock investing is inappropriate over short periods. One month, 6 months, even out a few years – stocks aren’t appropriate.

But will the S&P be higher or lower in 10 years? Or 20 years? Or more? I’m willing to make that bet, and it’s a sizable bet at that. I’ve got a lot of money on the line. I’m not sure it will pay off, but I like my odds.

Will the S&P hit 8300 (50% up from now) or 2750 (50% down)? I’m not sure. 50% declines do happen, but not too frequently. 50% increases are much more common. I’m an optimist on this one, too.

I care about long periods and steady compounded returns over those periods. The odds are clearly in the investor’s favor when looking at those time scales.

Those are some bets I’m willing to make.

Thank you for reading! If you enjoyed this article, join 8500+ subscribers who read my 2-minute weekly email, where I send you links to the smartest financial content I find online every week. You can read past newsletters before signing up.

-Jesse

Want to learn more about The Best Interest’s back story? Read here.

Looking for a great personal finance book, podcast, or other recommendation? Check out my favorites.

Was this post worth sharing? Click the buttons below to share!

Source: bestinterest.blog