SoFi Blog

Almost 70% of U.S. households have a pet at home, with 60% of U.S. households having a dog and 47% of households having a cat. And there’s a good reason: our pets make us happier and healthier . Having a pet at home can improve self-esteem, physical fitness, and decrease loneliness. Plus, there’s pretty much nothing cuter than a newly adopted kitten or puppy.

But for all the positives of pet ownership, the costs can be overwhelming. As it turns out, 98% of pet owners seriously underestimated the cost of pet ownership. Excluding emergency and other serious vet procedures, the cost of taking care of a dog over the course of its lifetime ranges from $27,074 to $42,545. Thinking smaller?

The lifetime cost of owning a rabbit ranges between $12,893 and $19,338. Most of these costs end up concentrated at the start of adoption, when new pet owners pay for adoption fees , vaccinations, vet care, and the bulk of supplies, while the remaining costs are spread out over the animal’s lifespan and account for things like food, vet care, and supplies.

You may have noticed lately the increased incidences of extreme weather—everything from hurricanes to wildfires to a polar vortex. Of course, in the event of a natural disaster, your first obligation is to protect your family.

In advance of these events, most people think immediately of non-negotiable musts like food , water and other supplies (as well they should). However, it’s also a sound idea to make sure that your savings, investments, and other financial obligations are kept safe from the elements and the possible ravages of nature.

As more of our financial lives go online and are stored in clouds, we may tend to dismiss the possibility that natural disasters can wreak havoc on our financial records.

Should an emergency happen in your area, you and your family and friends may need to hang tight for several days before things return to a relative normal.

In this post, we suggest ways to consider how to protect your finances and investments from the physical damage caused by forces of nature. Just like your overall survival plan, protecting your money and financial records takes preparation.

Having hobbies that you enjoy can add significant pleasure to your life. From skydiving to knitting, or archaeology to photography, hobbies can provide endless possibilities for fun and engagement. Some of them can be fairly inexpensive (and there are even hobbies that cost nothing, or nearly so), while others can cost some pretty big bucks.

To add to the picture, what’s affordable for one person may be pricey for someone else. If your hobbies fall into the big-bucks category, based on your financial circumstances, you may find that you’re spending more than what you can finance from your income alone—and, in that case, you may be going into debt to continue to enjoy the hobbies you love.

So, is it worth it? Are hobbies worth going into debt for? Only you can answer that question, but we’ll provide observations and insights for you to consider in this post, including ways to budget hobbies effectively if you’d like to better manage expenses. And, if you’ve found that you’re already in more debt than you’d like from the pursuit of hobbies, and you’d like to get out of that debt, we’ll offer up some practical tips.

If you think you’ll need to apply for federal student loans to pay for your college education, filling out the Free Application for Federal Student Aid (FAFSA®) is mandatory. Filling it out is relatively straightforward, and doing so may successfully qualify you for multiple types of federal funding. But, you may find yourself needing some guidance in filling it out, and that’s perfectly normal.

To find assistance, check to see if a local high school or community college is offering a financial aid services FAFSA prep event. If so, consider attending because you may find it helpful to listen to people experienced in filling out the application. They can offer strategies and tips that can streamline the process, and answer your questions.

When you’re working on your tax return each year, it’s tempting to get through it as quickly as possible, then forget all about the stress it caused.

But tax season is actually a great time to take a look at the year that’s behind you and use that information to plan for the years ahead—especially if you’ve made some major transitions in your life.

If you’re newly married, new parents, or new homeowners, for example—or expect to be sometime soon—your tax situation may change. And so, by extension, will the ways you budget and invest for the future. Look at it as an opportunity to sit down with your spouse, maybe with a glass of wine, and strategize.