If you are like most people, your dog is not simply a pet. He or she is a member of your family.

You want to provide them the best of everything.  From toys to treats, you love to spoil them rotten

But the costs. Oh, how they can quickly get out of control!

WHY CHEAP IS NOT BETTER

Your first thought may be to buy the cheap dog food.

Please, don’t.

The problem is that the lower quality food can lead to health problems for your pet, which could end up costing you more. It is not the answer.

Instead, focus on ways you can save while still getting your favorite canine the food and treats that are best for them.

STOCK UP WHEN ON SALE

When you find a great deal on the dog food you need, buy extra! There is no reason to pick up one bag when you can get a couple and save.

BUY IN BULK

Oftentimes, the larger bags result in greater savings. Compare the price per ounce of the smaller items to the bigger bags to find the lowest cost.

TRY THE STORE BRAND

Just as with the store brands you buy, sometimes the store brand of pet foods is the same – simply in different packaging.

Carefully review the ingredients before making the switch. After all, if they are the same, why are you paying for the label?

SIGN UP FOR THE STORE REWARDS PROGRAM

Loyalty has its perks. Many stores offer loyalty programs to members. You can get exclusive offers, discounts and coupons that are only offered to those who have signed up.

Some programs also reward for your purchase in the form of points. Once you accumulate the points you can cash them in towards savings or freebies.

GET ON THE LIST

Even if you are a member of their program, make sure you are also on the list!  You will get alerts for sales and may even find some awesome coupons to make their way into your inbox as well.

Tip:  Make a secondary email address to use so your inbox is not cluttered with these types of emails.

USE ONLINE SERVICES

There are online pet product providers, such as Chewy, who sell pet food and other items, often at a discount. The added perk here is that they deliver it directly to you – so no lugging home huge bags of dog food from the store.

You can use apps such as Honey or Wikibuy to compare online prices to ensure you also find the lowest possible price for the items you need.

SET UP AUTOMATED DELIVERIES

Some sites, such as Amazon, offer discounts if you sign up for automated delivery of select products. Not only will it be delivered, but you also won’t have to worry about running out.

CHECK FOR REBATE OFFERS

Sometimes, manufacturers offer product rebates. If you can find these, you’ll get money back on your purchase.

PRAISE (OR COMPLAIN)

If you have a food your pet loves, send an email letting them know. They may send you coupons or vouchers for products as a thank you.

Alternatively, if you have a problem with a product, make sure to reach out. The company may offer a refund or alternative product for your trouble.

SHOP THE WAREHOUSE

Skip the big box stores and head to your local warehouse. You may find larger bags at a lower cost sold there – saving you time and money.

BECOME A TRACKER

All stores run sales in cycles. They do this on food, clothes, and more – including pet food!  Keep track of the offers at your favorite stores.

You will start to learn their cycle and can then stock up when items are on sale.

SKIP THE STORE AND MAKE HOMEMADE DOG FOOD

You can even bypass the store and make your own dog food right at home. There are countless recipes on Pinterest that you can try.

But, before you rush to start a cooking frenzy, make sure to carefully research each ingredient to make sure it is safe for your pet to consume.

PUT COUPONS TO WORK

Before you head to the store, head online, and search for coupons for your pet’s food. You may find them on the manufacturer’s website or on coupon printing sites.

Make sure to also check the product packaging as you may find them stuck to the front of that big bag of dog food.

GET FREE SAMPLES FROM YOUR VET

Vets get free samples of the products they sell – so ask for one! The freebies do not cost them anything, so they should be more than happy to give you one if you inquire.

The post YOUR GUIDE FOR SAVING MONEY ON PET FOOD appeared first on Penny Pinchin' Mom.

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As share prices for giants like Netflix and Amazon surge, it’s easy to feel priced out of the stock market. As of Aug. 3, a single share of Netflix would cost you $502.19; for Amazon, you’d pay $3,134.82 per share.

If you’re a beginning investor, the high prices may tempt you to seek out a bargain. Enter penny stocks.

Penny stocks seem like an opportunity to buy into an up-and-coming company for dirt cheap. You can buy hundreds or even thousands of shares for the price of an S&P 500 company share.

But watch out: Investing in penny stocks could easily leave you broke.

What Is a Penny Stock? Are Penny Stocks Worth It?

The U.S. Securities and Exchange Commission defines a penny stock as one that trades for $5 or less per share. Most investors, though, take a narrower definition. Many define it as one that trades for under $1.

But it isn’t just the low trading prices that define penny stocks.

You can find stocks trading for under $5 a share on major stock exchanges, like the Nasdaq or New York Stock Exchange (NYSE). But most investors don’t consider these to be penny stocks.

Penny stocks generally trade on the over-the-counter (OTC) market. The transaction takes place between the broker-dealers for the buyer and seller. They use the OTC market to name their prices. There’s no central exchange facilitating the trade, which can happen without anyone else knowing the transaction price.

The transaction may feel the same as it does when you invest in stocks listed on a major exchange. You can typically use whatever brokerage account you normally use to trade stocks. You place the order in the same way you would for any other stock.

The only thing that may stand out: Your broker is required by the SEC to obtain your signature on a risk disclosure document before placing your first penny stock order.

Why Are Penny Stocks So Risky?

If you’re wondering, “Are penny stocks worth it?”, the answer is pretty much a resounding, “NO!” Here’s why penny stock is among the riskiest investments you can make.

They Lack Transparency

Big companies that trade on major stock exchanges are required to file lots of information with the SEC. The information is publicly available at SEC.gov.

But a company with less than $10 million in assets or 2,000 individual investors may not have to file with the SEC at all. Plus, investment analysts and news reporters scrutinize bigger publicly traded corporations. A company with under $10 million in assets is unlikely to draw any of this scrutiny.

Companies traded on over-the-counter exchanges are subject to far less oversight than companies on a big stock exchange. Most penny stocks trade on the pink sheets, an electronic stock listing service that gets its name because it used to be published on — you guessed it — pink sheets. Companies listed on the pink sheets aren’t required to disclose any information.

There’s Usually No Minimum Listing Requirements

Any stock that trades on a major exchange is subject to strict requirements.

For example, for a stock to start trading on the NYSE, these are just a few of the requirements:

• At least 400 shareholders who each own at least 100 of the company’s shares.
• A minimum of 1.1 million publicly traded shares with a value of at least $40 million.
• The stock price must be at least $4 per share.

The companies that issue penny stocks usually can’t meet these stringent listing requirements.

Maybe they have no proven track record. Or maybe they do have a track record, but it’s a troubled one. If a stock listed on the NYSE or Nasdaq falls below $1 per share and stays there for an extended period, it will be delisted. Then, you’ll see it on the OTC markets.

“Penny stocks are typically highly speculative investments,” said Matt Frankel, a certified financial planner (CFP) at The Motley Fool’s The Ascent. “Not only are many penny stocks issued by companies that are yet to achieve profitability or even revenue in many cases, but there’s a significant amount of fraud in the penny stock world.”

They’re Highly Volatile

A single piece of good or bad news can make or break your penny stock investment. The companies are so small that their success may be contingent on getting FDA approval for a single drug or obtaining a patent. A relatively small change in demand for the stock can also result in major gains or losses.

“A penny stock that goes from a few cents to a few dollars can represent massive return on

investment, sometimes in the thousands of percents,” said Evan Tarver, senior financial analyst at Fit Small Business. “However, there is a much higher likelihood that a penny stock will drop to nothing, meaning you would lose your entire investment.”

You May Not Be Able to Sell Your Shares

Most penny stocks have a low trading volume. That means they trade infrequently, which is bad news for you when you want to sell.

Let’s say you owned 5,000 shares of a company, but the trading volume is only 1,000 per day. You’d realistically have to wait five days to sell all your shares. Even then, you may have to sell for much lower than your ask price.

In investor speak, this is known as low liquidity: To quickly convert your investment to cash, it’s likely that you’ll have to do so by discounting the price.

Penny Stocks Are Rife With Fraud

The world of penny stocks is filled with fraudsters who prey on inexperienced investors. Two of the most common penny stock scams are the pump and dump and the short and distort.

Pump and dump: Scammers drum up hype about a company to drive up share prices. They may say that a company has found the cure for coronavirus or that it’s found a new gold mine.  Then they offload their inflated shares on unsuspecting investors.

“Penny stock scams use email newsletters, message boards, and bogus press releases to try to create interest in the stock,” Frankel said. “Some even pay analysts to write up legitimate looking ‘research’ reports on the company, and many even cold call unsuspecting investors to tell them about the ‘incredible opportunity.’”

Short and distort: Investors use a complicated maneuver called short selling when they’re betting a stock’s value will drop or become worthless. With the short-and-distort scam, fraudsters short the stock, then spread false negative rumors about the company. When share prices plummet, they profit.

But Couldn’t I Pick the Next Facebook?

Theoretically, yes. But that’s highly unlikely.

Most wildly successful companies were never traded as penny stocks, even though early investors who stuck around reaped huge profits.

“Most successful stocks, such as Microsoft (MSFT), Facebook (FB), and Tesla (TSLA), all first listed their shares on the NYSE or Nasdaq with prices above $10,” Investopedia reports.

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7 Rules to Follow if You’re Still Determined to Trade Penny Stocks

We hope we’ve convinced you that buying penny stocks isn’t worth the risk. You’re much more likely to profit by investing in an ETF or mutual fund that represents the entire stock market.

But what if you’re determined to do it anyway? Follow these rules to mitigate the risks.

1. Only Invest What You Can Afford to Lose

Would you be OK with losing this money at the poker table? Don’t invest it in penny stocks if the answer is “no.”

“Any money that you are prepared to invest, you should be comfortable losing 100% of that investment,” said Lou Haverty, a chartered financial analyst (CFA) with Financial Analyst Insider. “In other words, only invest money that you can afford to speculate with.”

2. Research Before You Buy

If you can’t obtain information about a company from SEC filings, that’s a sign that you should pick a different stock. Also, make sure you understand the basics of the industry and how the company makes money. A little knowledge will help you see through overhyped claims.

3. Look for Stocks With a Decent Market Capitalization

Be wary of stocks with extremely low market caps. That means the overall value of its shares is very low.

Most penny stocks are either nano-cap companies (market capitalization of $50 million or less) or microcap companies (market capitalization of $50 million to $300 million).

“As a general rule of thumb, I won’t even consider investing in stocks with market capitalizations under $200 million, which eliminates most of the penny stock world,” Frankel said.

4. Pay Attention to Trading Volume

A stock’s trading volume shows how many shares are bought or sold on a given day. Look for penny stocks with a minimum trading volume of 100,000 to 200,000 to improve your chances of having a willing buyer should you need to sell.

5. Use Automatic Stop Loss Triggers

Haverty recommends setting up stop loss triggers if you’re determined to buy penny stocks. If your share prices fall by the amount you specify, your brokerage will automatically put them up for sale.

6. Watch Out for the Hype

Look out for outrageous claims about a stock’s potential. They may pop up in investment newsletters, emails, websites and message boards.

“If an investment opportunity sounds too good to be true, it probably is,” Frankel said. “For example, if you see a penny stock discussed in a newsletter or on a message board claiming something to the effect of ‘make 200% in 1 week,’ you can be pretty sure you’re looking at a pump-and-dump scam.”

7. Put No More Than 10% of Your Portfolio in High-Risk Investments

High-risk investments should never take up more than 10% of your portfolio at the absolute max.

That’s 10% for ALL the risky investments. You don’t get 10% for penny stocks, 10% for bitcoin and 10% to invest in gold.

It’s essential to keep the other 90% in a diversified portfolio that’s invested across the stock and bond markets.

Boring? Yes.

But pretty much any experienced investor will tell you that boring is better in the long run.

Robin Hartill is a certified financial planner and a senior editor at The Penny Hoarder. She writes the Dear Penny personal finance advice column. Send your tricky money questions to [email protected].

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

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