Before you bring home a new pet, it’s important to weigh all the factors involved in your decision, including the financial ones. As cute and irresistible as puppies, kittens and other animals are, they can be a big financial commitment. The cost of owning a pet can range from several hundred to several thousand dollars a year. Dogs and cats often live for 15 years or more. And some animals, like exotic birds, can live much longer. If you don’t have the money to keep up with that commitment, but decide to make it anyway, then you’re only doing a disservice to yourself and your pet.
Recurring and One-Time Expenses
The initial adoption fee or breeder’s fee is just the beginning. Many pet expenses, like pet food or cat litter, will recur every month. But in the first year, you’ll also encounter some additional costs. For example, your pet may require vaccinations, and you may also spend more on equipment and training. Here’s a breakdown of the average costs of owning a cat or dog, courtesy of the ASPCA:
Annual Costs
Initial/One-Time Costs
Ways to Save on Pet Costs
While owning a pet can be expensive, there are some ways to save. Here are some tricks that can help keep your budget on track:
Brush your cat or dog’s teeth. Poor dental health can lead to various health problems for your pet. Keeping their teeth clean can prevent bigger problems and reduce their dental bills.
Treat them for fleas and ticks. Fleas and ticks can cause a host of issues for your pet, like skin irritation, hair loss, bleeding and even tapeworms.
Get yearly checkups. Preventative care is usually less expensive — and less risky for your pet’s health.
Groom your pets at home. Depending on your pet’s tolerance, you may be able to do some or all of their grooming at home. These tips from the ASPCA can help you groom your cat or dog safely.
Ask friends or family to pet-sit. If you travel frequently, kennels costs can eat up your budget. See if you can exchange pet-sitting duties with friends or neighbors who also own pets rather than boarding them.
Consider pet insurance. If you feel that you can cover the basics, but you’re worried about the cost of emergency vet visits, then pet insurance could be a good solution for you.
Consider an Older Pet
With an older pet, you’ll usually save money on training, vaccinations and spaying or neutering. But you may be worried that their veterinary expenses could be higher for a senior pet — and with good reason. However, some adoption agencies that place older pets offer to cover their veterinary bills for life. This could be one way to bring a pet into your home if you’re concerned about the price of veterinary care.