Is It Financially Responsible to Own Pets?

Financially Responsible Pet Ownership
Pet owners know what a difference having a pet makes in their lives. Pets can bring increased joy and companionship to people everyday.

But like having children, having pets also costs money.

From food and medical care to toys and grooming, plus unexpected emergencies, pets can cost a pretty penny. Although we love and care for our pets, it’s still painful to make a trip to the vet for a surgery that costs over $1,000 or simply a checkup that runs $100 or so periodically.

And pets can get sick just like people, which adds both a burden of responsibility when you must care for that animal during an illness and a financial burden.

(True story: we know of a family dog who has type I diabetes which requires everything humans with diabetes requires. Insulin shots every 12 hours, special diet, and so on. It’s not cheap or easy to provide this kind of care.)

Considering the variety of small and large costs that pets may bring, it’s worth asking if it’s a smart money move to include a pet in the home if you’re working toward a number of other financial goals like building up savings or getting out of debt. Read more

Stuff We Love: Free Financial Planning Days from CFP Board


If you’ve been waiting for a sign to start figuring out your finances, this is it.

CFP Board is helping host events around the country in October and November called Financial Planning Days. These events are for anyone looking to learn more about their personal finances — and anyone who’s ready to start working toward financial success. Consumers will have access to individual sessions with CFP® professionals as well as informational sessions and presentations conducted by CFP®s.

And it’s totally free for you to attend and receive great financial advice. Here’s more information straight from the Financial Planning Days site:

Each local Financial Planning Day features highly qualified CERTIFIED FINANCIAL PLANNER™ professionals, all volunteering their time and expertise to provide free one-on-one counseling and classroom-style educational presentations addressing key personal finance topics. Best of all, there are no strings attached – volunteer financial planners will not sell products or services, give out business cards or take down names.

XY Planning Network is thrilled about events like these, and is excited to spread the word and share them with you. These free educational sessions are directly in line with our believe that financial planning should be for anyone — not just people who already have assets. We want to provide everyone with the help they need as they work towards wealth.

Financial education and empowerment shouldn’t be reserved for a select group of people. Understanding your finances and how to reach financial success is something everyone deserves.

If you’re not sure where to start with taking action on your biggest financial goals, or are curious about working with a financial planner, check and see where a Financial Planning Days event will be located near you. Plan on attending and brign your most pressing questions with you to your session.

Planners are there and available to answer those financial questions on a range of topics, including:

  • budgeting
  • credit
  • debt
  • investing
  • taxes
  • homeownership
  • small businesses
  • saving for college

…and a whole lot more. This is an excellent opportunity for you to make progress with your money — without having to spend any of it to gain that knowledge and advice.

You can also make the most out of your time at a local Financial Planning Day by visiting their website and downloading some free worksheets and other resource material ahead of time.

This is your sign. It’s time to claim the financial education you deserve and get started on the right path to achieving your biggest financial goals.

Erin of Broke Millennial

Featured Financial Blogger: Erin Lowry of Broke Millennial

XY Planning Network is wrapping up our special feature on some of our favorite personal finance bloggers for Millennials. We enjoy these blogs for the stories they share and conversations they spark. This week, we chatted with Erin Lowry of Broke Millennial, to close our series.

Erin is a no-nonsense member of Generation Y who is determined to educate her fellow twenty-somethings on how to spend less, save more, and avoid money problems that crop up where financial literacy is low. She shares sound financial advice, and tips while injecting her writing with dry wit and sarcasm — which makes money lessons for Millennials that much more engaging.

Erin of Broke Millennial Read more

4 Tips for Setting Better Financial Goals

Financial Goals

If you want to accomplish big things with your personal finances, you need to understand where you’re starting at and where you want to go. Identifying what you want to accomplish is the first step to creating an action plan and succeeding. In other words, setting financial goals is critical if you want to make the most of your money and achieve what you want.

Goals are so instrumental to our success because they give us purpose and direction. They keep us motivated and moving towards where we want to be, and prevent us from getting distracted by other, short-term things that pop up in our daily lives.

But not all goals are created equal, and there’s a right and a wrong way to set yours. Use these 4 tips to establish financial goals that you have a better chance of reaching and achieving: Read more

Featured Financial Blogger: Michelle of Making Sense of Cents

Over the next few weeks, XY Planning Network is running a special feature on some of our favorite personal finance bloggers for Millennials. We enjoy these blogs for the stories they share and conversations they spark. This week, we chatted with Michelle of Making Sense of Cents.

Making Sense of Cents is a personal finance blog that serves as a fun resource for those just starting to explore their finances. Michelle’s site is a excellent springboard into further research on how to do more with your money (and make more of it, too). With a number of “how to” posts and tips on getting started with money management and entrepreneurship, her blog is a great read for Millennials.

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Read more

Featured Blogger: Paula Pant of Afford Anything

Featured Financial Blogger: Paula Pant of Afford Anything

Over the next few weeks, XY Planning Network is running a special feature on some of our favorite personal finance bloggers for Millennials. Up first: Paula Pant of Afford Anything!

Featured Blogger: Paula Pant of Afford Anything

Paula runs Afford Anything, a personal finance blog dedicated to helping readers leverage their money to fund their biggest dreams and goals. For Afford Anything readers, it’s all about ruthlessly eliminating expenses that don’t matter in order to spend freely on the few things that do.

Paula is strongly anti-cubicle, and believes we’re not meant to sit in offices and rush hour traffic day after day after day. Instead, she’s all about building wealth so you can use your finances to create freedom. Read more

Our 8 Favorite Personal Finance Blogs for Millennials


At XY Planning Network, we love any resource that helps Gen Y and Gen X do more with their money. We believe in the power of financial education, and love when financially savvy individuals use their knowledge to help others.

That’s why we’re honoring 8 of our favorite personal finance blogs for Millennials. If you need some inspiration, motivation, and education on how to make your money work for you in order to achieve financial success, start right here with our list. Read more

How Should You Prioritize Your Savings Goals?

savings goals

Most of us are working towards more than one savings goal at a time. After all, there’s a lot we want to accomplish: building our nest egg for retirement, creating cash reserves for emergencies, saving up for a big purchase like a home, putting away money for a child’s college education, trying to pay off the mortgage… the list goes on and on.

Of course, the trouble is that we only have so much money left over after the bills are paid.

With so many savings goals to achieve, how do you know which to prioritize? Read more

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5 Awesome and Totally Free Money Management Tools

money management tools image

XY Planning Network advisors and administrators love their apps and tools. And for good reason – as technology continues to exponentially improve, we have more and greater access to helpful programs and applications that make countless aspects of our lives easier and we’re able to work more efficiently.

Many of our financial planners make use of a variety of technologies to make their practice better for themselves and their clients. They’re able to communicate more effectively with a range of people – regardless of location. They’re able to automate less important, back-end tasks so they’re free to spend more time doing what really matters: namely, providing relationship-based services to you and me.

With a wide array of helpful tools at our disposal, it’s never been easier to manage our financial lives in between meet-ups with our financial planners. Why not take advantage of the tech that’s available? Especially if it means we find it easier to…

  • Save money
  • Track spending
  • Create budgets
  • Pay bills
  • Set financial goals
  • Earn cash or rewards

Here are 5 of our favorite, free money management tools that help us track our finances so we can focus on growing our wealth: Read more