Years after my husband began pleading for our first dog, I reluctantly gave in, still thinking it was a terrible decision that would ruin our house and cramp our lifestyle. But it only took a few minutes on the drive home with our soft, sleepy, 10-week-old yellow Lab on my lap to fall completely in love with her.
Dixie was our furry child for almost 17 years until she got old and just wore out. We saw her slow decline over the last few years and an accelerated exhaustion over the last couple of months. We waited for her to give us a sign that she was ready for a final rest, and on April 20 we had to say a very difficult and teary goodbye. But there were far more joyous moments with her than sad.
My only previous pet was a cat that I had begged my parents for during middle school. They didn’t want an indoor animal, so our compromise was that the cat would live outside in our spacious yard and the adjacent empty and overgrown lot.
I named her Sally and we always called her Sally Cat The Alley Cat. She was wild and independent, coming close only for food, occasional affection, and glimpses of our small family from her perch on the brick window sill outside the kitchen.
It doesn’t matter what type of animal you have, owning a pet can be an incredibly rewarding experience. But it can also be expensive and most people drastically underestimate the cost of a dog or cat.
In this post, I’ll discuss what it really costs to own a pet. You’ll get 5 tips to cut expenses for your existing or potential new furry friend so he or she is more affordable.
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How Much a Dog or Cat Really Costs
One report from the People’s Dispensary for Sick Animals (PDSA), the leading veterinary charity in the United Kingdom, found that 12% believed their pet would only cost up to $650 USD over its lifetime. A majority thought the total would never top $6,500.
The real cost is much higher. According to the PDSA, the average cost for a dog is between $27,000 and $43,000 and a cat from $22,000 to $32,000. That includes everything from the initial purchase price and spaying or neutering, plus ongoing costs of vaccinations, grooming, toys, litter, and food. Expect to pay more if you travel and need a frequent pet sitter or boarding services.
According to the PDSA, the average cost for a dog is between $27,000 and $43,000 and a cat from $22,000 to $32,000.
I ran a report for all of Dixie’s expenses, including vet visits, boarding, food, and supplies for the past five years, and the total is about $17,000 or $3,400 per year. She was incredibly healthy, so most vet visits were for routine vaccinations, checkups, and an occasional sickness or skin irritation. We fed her premium food, treats, and supplements, which made up about $4,000 of the 5-year total.
I don’t have handy records to go back for Dixie’s entire life. But if you multiply $3,400 a year by 17 years, it comes to about $58,000. That’s 9 times more than what survey respondents estimated on the high side. Yes, she lived a long time and we probably spoiled her more than most.
Should You Get a Pet?
I don’t want the economics of owning a pet to prevent you from experiencing the immense joy and benefits they can bring—or from rescuing an animal in danger. However, I do want to make you think twice about getting a pet impulsively.
If you don’t do some research about the type of pet that’s best for your lifestyle, the work they require, their longevity, and the potential cost to ensure their health and happiness, you won’t be a responsible pet owner. For instance, you may love a certain breed, but it could be prone to more health problems in the long run.
Getting a pet is a commitment that shouldn’t be taken lightly. If you’re living paycheck to paycheck or don’t have any emergency savings to cushion the blow of an unexpected vet bill, you’re not in a good position to buy or adopt a new pet.
If you’re living paycheck to paycheck or don’t have any emergency savings to cushion the blow of an unexpected vet bill, you’re not in a good position to buy or adopt a new pet.
5 Tips to Afford a Dog or Cat
It’s inherently difficult to estimate the lifetime cost of a pet because it depends on many variables such as breed, preventative care, and where you live. But here are 5 tips to help make your pet more affordable:
1. Research and save for initial expenses.
Make a list of all upfront expenses that must be paid right away or even within the first year of owning a dog or cat, which may include:
- Purchase price
- Vet exam and vaccinations
- Spaying or neutering
- Food and treats
- Heartworm medication
- Flea and tick treatment
- Collar and leash
- Crate
- Bedding
- Toys
- Training
- Litter box
- Scratching post
- Nonrefundable pet deposit if you rent
The cost of vet care is typically more expensive in large cities than in small ones because urban spaces and wages are higher. Vet bills and expenses for larger animals are bigger because they need higher doses of medicines, more food, more grooming, and larger accessories.
Certain breeds tend to need more care because they’re genetically predisposed to certain ailments and diseases. Some may also benefit from training more than others because they’re active or have anxious personalities.
Training Dixie was one of the best investments my husband and I ever made in our and her happiness. It’s a great way to bond with your new friend, help them feel at ease in a new environment, and prevent potentially destructive and expensive behaviors for years to come.
2. Budget for ongoing expenses.
While the first year of pet ownership may be the most expensive, there are many ongoing expenses you’ll need to make, such as:
- Food and treats
- Annual exam and vaccinations
- Dental care
- Heartworm medication
- Flea and tick treatment
- Litter
- Boarding
- Pet sitting
- Grooming
- Monthly pet rent
3. Don’t skimp on preventative care.
You simply can’t skimp on annual checkups because it’s kinder and cheaper to prevent illness by catching it early than to treat a bigger problem later. There are many health issues an animal could be suffering from that only a vet could detect.
You simply can’t skimp on annual checkups because it’s kinder and cheaper to prevent illness by catching it early than to treat a bigger problem later.
Also, keeping fleas and ticks under control is important for you and your pet’s health. Having a flea infestation can be expensive to get rid of. Preventative treatments and routine care cost money, but being proactive can ultimately cut lifetime costs, help your pet live longer, and be happier.
Some types of care—such as bathing, brushing, grooming, and nail trimming—you may be able to do yourself. But don’t try to be your own veterinarian. At the first sign that your pet isn’t eating normally or feeling well, don’t procrastinate—get them to a vet.
4. Get pet insurance quotes.
Think about how you’d feel if your pet became sick or injured and you couldn’t afford the vet bills. Every pet is likely to have at least one major illness or big vet bill in its lifetime.
When you think that you might lose a pet who’s truly a member of your family, most people will pay anything to prevent their suffering and keep them alive. Don’t put yourself in the position to have to choose between your finances and your pet’s life—it’s not fair for either of you. Most pet owners don’t have pet insurance, but it’s an easy way to manage an unexpected vet bill. Talk to your vet about it or shop for free quotes online. The cost varies depending on the insurer, the type and amount of coverage you choose, your pet’s age, and where you live. Premiums could be about $25 a month, which is a fixed expense you can plan for.
The bottom line is that the cost of owning a pet is completely unpredictable. Do your best to estimate costs, have an emergency fund, and have pet insurance so you’re never forced to deny your pet care or to go into debt for it. Here are some good places to shop and compare pet insurance plans:
5. Raise your personal liability limits.
Of course, there are still expenses that may not be covered by a pet insurance policy, such as soiled carpet and rugs, damaged furniture, or scratched up baseboards and doors. But the biggest potential risk of owning a pet is something most people never think about: getting sued. If your pet hurts someone or another person’s pet or property, you might get involved in an expensive lawsuit or slapped with bills.
If you own a home, you probably have homeowner’s insurance, which includes some amount of liability coverage. It pays for medical bills or lawsuits that result from unintentional actions by any member of your family—including your pets. If your dog bites the mailman or attacks another dog at the dog park, you can fall back on that liability coverage up to your policy limits. It protects you anywhere in the world. So, review your policy and be familiar with your liability limit.
Also see: 10 Facts You Should Know About Homeowners Insurance
You also get worldwide liability coverage on a standard renters insurance policy, which is incredibly affordable at less than $200 a year on average. Need more liability? Consider getting an umbrella liability policy that picks up the difference if you need more than what’s in your home or renters policy. A million-dollar umbrella policy may only cost $200 to $300 a year, which is an insurance bargain.
Our beloved dog was worth every penny to me and my husband—but we were fortunate to be able to afford her care. We’re also grateful that she never had an illness or accident that would have been very expensive to treat.
Be sure to consider all angles of pet ownership, especially your finances, before bringing home a new friend.
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