Pet ownership is a long-term investment with many different costs. Learn how to get a clear picture of how much pets cost from day one.
The average pet parent spends $1,400 a year on a dog. Cat ownership is usually a little less expensive, but fluctuates widely depending on whether you choose wet or dry food as canned cat food costs more.
Adopting a new puppy or kitten is exciting. But without proper planning, the latest addition to your family can become a source of financial stress. Fortunately, it doesn’t have to be that way! Here are some tips to create a practical pet budget to avoid unpleasant surprises for you and the newest addition to your family.
For some prospective owners, the upfront, one-time cost of getting a pet can be prohibitively expensive—particularly with puppies and kittens. For example, the spay/neuter surgery alone can cost over $500 depending on their size, breed, and your location. If you’re on a tight budget, reach out to your local humane society or shelter to ask if they have a low-cost medical clinic or offer spay/neuter vouchers for low-income residents.
Pet food is the most common expense new pet owners anticipate, but other items need to be part of a pet budget.
Remember that rental and homeowners association fees vary — this list is just a guideline. Consult with your landlord or HOA about any yearly or monthly pet fees.
Aside from monthly expenses and one-time pet costs, other expenses come up with pet ownership. Vaccines, checkups, treatments, and other expenses are often left out of a budget, leading to unpleasant surprises when it comes to veterinary care or a big purchase. These expenses may be infrequent but shouldn’t be forgotten when creating a pet budget.
* The average range for boarding fees is based on a five-night stay annually for a healthy pet. Those with special medical needs will likely experience a higher rate.
Most preventative medications are purchased monthly or annually. It’s also important to note that not all vaccinations are required. Most aren’t, but vets highly recommend core vaccinations. The rabies vaccination is a core vaccination required by law in many areas.
In some cases, costs that don’t fit neatly into the pet budget may come up. These might be specific to the situation. For example, if you travel with your dog, you may need to pay a hotel fee. Other miscellaneous expenses include pet furniture, clothing, food delivery fees, and grooming.
Lastly, consider adding your pets to your will to care for them. Name a willing caregiver and then update your legal documents to reflect that change. Don’t forget to include any monetary considerations for your pet’s ongoing care.
It’s inevitable with pet ownership that you’ll visit the vet at some point for an emergency. For cat owners, this may come as something like a urinary tract infection. UTIs can quickly become an emergency that requires immediate attention. For pets that venture outdoors, poison and unfortunate encounters with wildlife can also result in an emergency vet visit.
The average emergency vet visit costs about $100 and can quickly jump to $2,000 or more. Pet insurance can help with many things, but saving between $1,000 and $2,000 for an emergency visit is wise.
There are a few things you can do to make budgeting for a dog or cat a painless experience, and improve your life as a pet parent.
Bringing a new pet home is a big day. However, facing the reality that you have to pay for that pet’s care and are responsible for their wellbeing can be overwhelming. A pet budget creates a road map for financially responsible pet ownership. Ultimately, here’s what you can expect to pay monthly for your new furry friend.
Let’s face it: creating a budget isn’t the most thrilling part of getting a pet. However, it’s one of the most important things you’ll do. After all, becoming a pet parent should be a rewarding and fulfilling experience, not a stressful one.
A pet budget depends on the type of pet and what you will need. Developing a pet budget helps you estimate costs depending on individual factors, such as your pet’s size, age, and health needs. Remember to save extra money beyond the amount you allot to your pet to accommodate unexpected expenses, such as emergency vet bills.
Budgeting for a cat or dog can cost anywhere from $50 to $200 or more every month, depending on breed, size, and care requirements.
When budgeting for a new pet, the main consideration is where you’ll get your newest family member. For example, adopting a pet from the shelter is almost always less expensive than a breeder because a lot of their preliminary medical expenses are included in the adoption price, such as vaccines and spay/neuter surgery. Know what is included in your fee to determine how much to save.
For those who aren’t comfortable with the expense of a cat or dog, fish make excellent companions and may require only a small and inexpensive freshwater aquarium. For those who have their heart set on something furry, guinea pigs and rabbits are also typically affordable choices.
