Parents spend many years reviewing their children’s report cards. A recent study essentially turned the tables on that, with young adults reviewing their parents’ performances, particularly in regard to financial matters. The findings weren’t good: Gen Z (people between ages 12 and 27) is the least financially confident generation, and a third of them say their parents didn’t set a good example for them.

Pets show affection and can give life more meaning—but they undoubtedly become a major line item in a budget, considering the cost of insurance, vet care, food, shelter, and of course, the trendiest bandanas and leashes. Still, having a pet is considerably more affordable than having a child. Parents can expect to pay between $16,000 to $18,000 per year, according to USDA estimates. Pets, on the other hand, cost their owners a little more than $1,300 per year, according to Empower, a financial services company offering planning, investing, and advice. 

While having a pet is more affordable than having a child, these lovable furry friends actually serve as a great catalyst for financial health. Indeed, nearly 40% of people say having a pet inspires them to be more financially responsible, and another 36% says they motivate them to reach their financial goals, according to Empower’s survey of 1,000 pet owners in the U.S. 

This is particularly true for Julio Bedolla, a wealth manager with LourdMurray. He and his wife have six dogs, which “significantly impact our spending,” he tells Fortune. 

“Regular expenses for food, health care, grooming, and other consistent costs teach owners the importance of budgeting, planning for future expenses, and building emergency funds for unexpected vet trips or paying for vet insurance,” Bedolla says. “Because we plan accordingly, we are able to make it work.”

Pets can be a primer for having kids

While they’re not ready to have kids, Bedolla says caring for pets gives them “an eye-opening sense of responsibility,” and prepares them for making ongoing financial investments. However, he acknowledges that the cost of having a child is still much greater than caring for a pet, especially when you factor in childcare and education.

But pet parents still have to take into consideration their pets when making other major financial decisions, like buying or renting a home. Not all homes are suitable for pets—or even allow them there. This similarly plays into other major costs such as planning and saving for travel. 

“You need to factor in pet costs, whether it’s boarding them or taking them with you,” Bedolla says.

Good money habits—and ‘not-so-good’ money habits

Owning three cats—and planning to add a puppy to her household in the next month—has inspired millennial public relations specialist Kristi Hedrick to adopt some good money habits as well as some “not-so-good” money habits, she tells Fortune. 

The good money habits include always having money stored away in case an emergency were to happen with one of her pets. Plus, her cats are on a special diet, so she has to incorporate the cost of their food into her monthly budget. 

However, “the not-so-good money habits tend to come from wanting to spoil my pets and get them new toys or treats,” Hedrick says. “My animals have plenty of toys, so that’s not always the best way to spend some extra cash that I may have.”

Still, Hedrick and other professionals say it’s “incredibly important” for pet owners to really understand how much it costs to raise a pet. Ali Smith, CEO and founder of dog training company Rebarkable, encourages aspiring pet parents to do their research about the average costs for their breed, as well as any health issues and temperament issues that come with owning that type of animal. 

“If you choose to rescue, be aware that with unknown health and temperament issues, you could be facing large health bills and training bills in order to achieve a happy, harmonious home,” Smith says. “Budget for those.” 

Pet parents spend the most on golden retrievers, beagles, german shepherds, labrador retrievers, and dachshunds, according to Empower.

Other costs of pet ownership stem from lifestyle choices and employment. The Empower survey shows, however, that pet parents are willing to make major life changes with their pets in mind. Nearly 60% of respondents said they switched jobs for more pet-friendly benefits while the pay was the same. And more than a quarter said they would take a pay cut with flexible hours in order to spend more time with their pet.

“Think critically about your lifestyle,” Smith says. “Do you need support from a doggy daycare? Or a dog walker? All of that costs money. Making that commitment is potentially 14 years of financial commitment. Sure, there’s no college or cars to buy, but [pets] can be a costly luxury in our lives.”

TROY, N.Y. — After about 20 minutes of questions and conversations while presenting the Quarter 1 financial report for the City of Troy, the comptroller walked out of the Thursday night council meeting.

Before tackling the night’s agenda, the city’s Comptroller, Dylan Spring, Mayor Carmella Mantello and Deputy Mayor Seamus Donnelly came forward to present the Quarter 1 financial report.

There was a bit of confusion at first on whether it could or should happen; according to Council President Sue Steele, a Democrat, the council only received the report five minutes before the meeting started and had not had time to look through it. Republican Majority Leader Tom Casey said they had had enough time and should allow the comptroller to proceed with his presentation.

It moved forward, though the council asked Spring to be present at a special finance meeting on July 11 to go over the report in more detail. Mantello began the presentation as Spring returned to his office briefly to get materials for the presentation; Mantello said the council had received the report 30 minutes before.

It would have been nice to have it earlier, Mantello said, but it wasn’t done yet. Being finished in mid-June is in line with previous years’ deadlines, she said, which Steele disputed, clarifying on Friday that the report was not late but the council was always given it with proper time before meetings.

Spring’s presentation ran through the revenues and expenditures of the city, highlighting discrepancies or numbers that might look odd but had explanations. While working through it, he fielded questions from City Council members on everything from what line item City Hall rent falls under to how many buildings the city had demolished in Quarter 1.

Several times Spring responded to questions with “I’d have to get back to you on that,” or “I don’t know off the top of my head, I’m sorry.” It was acknowledged by Spring and the council members asking questions that they were almost all new.

About 20 minutes into Spring’s presentation, he finished answering a question about a line item from Councilmember Katie Spain McLaren, a Democrat, who ended her question by apologizing and saying she was “new at this.” Steele then said, “So is he.”

“You don’t have to keep stabbing me, Council President,” Spring responded during the meeting covered on the livestream feed, “It’s not very nice and it’s very, making me very anxious.”

“I’m sorry, I’m sorry,” Steele responded. “It’s just a matter of fact.”

Spring said something indiscernible in the feed before adding, “That is also a fact so I don’t sit here and argue (more indiscernible words) (a response from Steele) … panic attack most of …”

Spring then left the room.

In more back and forth that was partially indiscernible, Councilmember Ryan Brosnan, a Republican, said something relating to Steele’s decorum, Steele apologized and Mantello said Spring is new and to “have some compassion, have some respect.”

She continued and said Spring had asked them to work together. Steele responded she had asked for this presentation to be delayed. Brosnan then made a motion to enter into a brief recess.

The presentation did not continue after coming back, and the council moved forward with the agenda after Steele again apologized for any misunderstanding and that her comment was not interpreted the way she meant it.

“My point was to acknowledge that Dylan (Spring) is also new and that we have to be understanding of all new people,” she said. “There are no dumb questions, there are no dumb answers, we are just trying to get information.”

They will resume the presentation in July.

This is not the first clash the council president has had with the city administration over finances. Steele said previously that the Q1 report was due April 30 and when she requested it on May 1, was told it was not finished.

At the May finance meeting, the council went over reports from 2023 Q4, with Spring and contract-hired accounting firm ProNexus detailing the major problems with the city’s record-keeping system. They also said then that they would go over the Q1 report on June 20, which was Thursday’s cut-short meeting.

Spring has often expressed his frustration and the tremendous workload he is holding due to the city’s outdated system and his hiring in February, saying during one finance meeting that he was working more than 60 hours a week. Donnelly said Friday they are concerned that their employees have an adequate work/life balance.

He couldn’t speak for Spring about his feelings Thursday night but said that they are currently overhauling every department, including the comptroller’s, and once finished, they believe the system will run much smoother and get rid of those 60-hour weeks. That process will be finished before the work on the 2025 budget begins, which Donnelly said the administration is very excited about.

The presentation Thursday was at its conclusion when Spring left, Donnelly said, and all questions had been answered. However, Steele on Friday, said that without adequate time to review it and formulate questions, the presentation had been frivolous and uninformative.

She questioned why exactly the presentation had to happen on Thursday when she had asked to have it moved to July. Though she said she was sympathetic to Spring who seemed overwhelmed, from a professional standpoint, she was concerned at the lack of information and his inability to answer questions.

“It’s ‘I’ll get back to you on that, I’ll get back to you on that.’ Well, you know, he must’ve said that a dozen times, and after a while, I mean, there was no point in, in the presentation quite frankly,” Steele said Friday, also saying she has never seen a department head walk out of a meeting. “When we asked a question, we didn’t get an answer.

“This is very troubling if indeed he is under too much pressure now because we are going into a very critical phase of the fiscal year,” she continued, mentioning that budget preparations are upcoming. “He should’ve been prepared to give the report.”

Donnelly said they wanted to give the report that day because it was important to Mantello to provide the council with their findings, having held the council president seat for eight years prior. He also said that people have to remember, they’re not even six months into this administration and they’re doing a major revamp.

“The comptroller is a high-stress job,” Donnelly said. “It (the comptroller’s office) is adequately staffed and we are constantly reviewing and looking how to make it better…It’s not all just ‘Let’s hire more people,’ it’s how can we, how can we best serve the public with what we have and with changing the way some things are done.”

Donnelly also said that Steele’s comments were not helpful to the already high-stress Spring was under. Steele again apologized Friday for her comment about Spring being new and said it wasn’t an insult, just a comment on how it’s okay that everyone is new.

As far as the actual finances go, Donnelly said the numbers Spring presented showed how they are able to do so much in the city with much less. Steele said she had no comment yet on the numbers because she hadn’t had a chance to go through them.