💸 The rising cost of pets

Plus, 5 things to do if you're anxious about student loans

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April 21, 2025     THE SOFI SO WHAT The Rising Cost of Pets — and How to Cope By Lindsay VanSomeren Even five years after COVID quarantines, plenty of us still browse online pet adoption sites regularly. And who doesn't fall in love? (Seriously, we dare you to resist.) But getting a pet is a real lifestyle commitment, both in terms of time and money. On average, a dog costs $34,550 over their lifetime, and a cat, $32,170, according to a new 2025 cost study by the pet sitting app Rover. And along with everything else that's gotten pricier, the study shows pet owners can expect to spend more on many aspects of pet care this year: Veterinary fees: +11% Treats and chews: +85% Grooming supplies: +20% Pet cleaning supplies: +183% Cat scratching posts and trees: +68% In fact, 31% of pet owners surveyed by Rover said pet costs seem to be rising faster than other household or personal items. And just over half said they're worried that tariffs will make their furry friends even more expensive. Read more     5 THINGS TO DO 5 Things to Do If You're Anxious About Your Student Loans By Ben Kesslen As leaders in Washington look to overhaul the federal student loan system, a lot is up in the air. The Trump administration is pushing to close the Department of Education, move the $1.6 trillion student loan portfolio elsewhere, and change how many of the current programs work. At the same time, the courts have blocked implementation of the newest income-driven payment plan, and lawmakers are weighing whether to repeal time-based forgiveness options. If the uncertainty has you stressed, or you're worried about affording your monthly payments, take heart. As fluid and confusing as the situation can be, you're still in control of a lot. And you do have options. Here are five smart steps you can take right now. Read more     Separate Paths Last time, I wrote that the past few weeks had been a roller coaster. And it looks like we're still on that ride. Since that April 10 column, the S&P 500 fell to as low as 5115 and as high as 5459, while the 10-year Treasury yield has moved around considerably, with an average intraday range of 15 basis points (i.e. 0.15%). Bumpy indeed. Of course, this comes after a stretch of over two years of strong returns, so some might say that investors were "due" for a tougher year. Through April 16, the S&P 500 is down 10.3%, though it's down a larger 14.1% from the all-time high of 6144 on February 19. Is the current drawdown enough of a flush to set markets up for a durable rebound? There's no way of knowing for sure, but looking back at historical instances that resemble the current moment can give us a hint. Read more     WHAT WE’RE READING Did you miss the tax filing deadline last week? Here's what to do. (The Washington Post via MSN) Read here     Intel, insights, and inspo for your money. On the Money cuts through the noise of day‑to‑day financial news to bring you a more thoughtful point of view on what's important in this moment — and how it impacts your bottom line. We value your trust above all.     Did you find today's newsletter valuable?   INVESTMENTS ARE NOT FDIC INSURED ‑ ARE NOT BANK GUARANTEED ‑ MAY LOSE VALUE SoFi Checking and Savings accounts are offered by SoFi Bank, N.A., Member FDIC. SoFi Credit Cards are issued by SoFi Bank, N.A. pursuant to license by Mastercard® International Incorporated. Loans originated by SoFi Bank, N.A., NMLS #696891 (www.nmlsconsumeraccess.org). Equal Housing Lender. Brokerage products offered through SoFi Securities LLC, member FINRA/SIPC. Advisory services are offered through SoFi Wealth LLC, an SEC-registered investment adviser. Information as of April 2025 and is subject to change. Screen images simulated. 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