A pet is a wonderful and joyful addition to your family and can bring you happiness, peace, and lots of love. However, owning a pet isn’t as affordable as people may think. There are a lot of expenses when you get a pet, whether that be a dog, cat, rabbit, or even hamster. With a rise in pet ownership and risks of pets being abandoned due to costs, it is vital to budget for a pet. If you’re thinking about getting a pet to join your family, then ensuring you budget for it is pivotal. Use these budgeting tips for your pets to care for them responsibly and ensure you can provide for them.
Budget for initial pet costs
Without budgeting for the initial pet costs, your family pet can become part of your financial stress. The upfront cost of a pet is a one-time expense that can be very pricey. This is particularly the case for puppies and kittens as they are popular and highly sought after. It’s a good idea to thoroughly research and clearly understand the initial expenses of a pet. Do this regardless of if you’re buying or adopting.
For example, a dog from a pet store or breeder can cost on average around $1300 but, depending on the breed, can be a lot more than this. A cat can range from $300 to $2000 or more. Spaying or neutering a dog can range from $250 to $2000 plus; for a cat, it can be from $200 to $350 plus.
Plan for recurring pet costs
When it comes to having a pet, there are many recurring costs that are essential for your furry friend. For example, the most common recurring cost is pet food as this is essential to give your pet a healthy diet. Pet food costs around $100 and $500 or even more monthly depending on your pets’ dietary needs. It also depends on your pet’s size, age, breed, and other health factors and issues.
Medications can also be another recurring cost for your pet and prescription medications tend to come in three-, six-, and twelve-month supplies. This all depends on what your pet needs. If they have certain health conditions, they may need quite a bit of medication to improve their health. However, if they don’t have health conditions, they will still need medications such as flea treatment and worming tablets, especially for pooches and cats. The price varies depending on what medications your furry friend needs, but you should budget around $100 a month for routine prevention. It is always best to chat with your veterinarian about the cost of specific medications related to treatments.
You should also consider miscellaneous costs every month and set a realistic budget for them. This could be anything from toys to training. If you want a subscription box for your pet then put aside $30- $40 a month and if you want training, this can be $20- $75 per group class or around $210-$600 for private sessions. If your pet goes through toys daily or weekly, it’s best to put aside $40 to replace them.
Waste disposal also comes into this recurring budget for any pet. Cat owners need around $14 to $30 a month while dog owners need around $20 for puppy pads if needed. On top of this, dog owners need waste bags which can be an extra $10 or more. For rabbits, hamsters, guinea pigs, and any pet that needs sawdust plan around $5 to $15 per five-pound bag.
Don’t forget pet insurance will come into this budget too every month, but this price varies heavily.
Factor in other pet costs
As well as monthly expenses and one-time costs, other expenses come up often when owning a pet. These are things like vaccines, treatments, checkups, and other expenses that are often forgotten about. It is best to be prepared for everything, especially when it comes to your furry friend’s health! If you don’t factor in these health essentials, then you can easily get unpleasant surprises or a huge bill when you next visit the vet. These other pet costs do occur infrequently, but they should still be remembered and budgeted for. These can be:
- Core vaccinations for every three years. Costs around $90-$360.
- Preventative medications for every six months. Costs around $130-$190.
- Routine check-ups every year. Costs around $45-$250.
- Other vaccinations for every year or three years. Costs around $90-$360.
Remember, not all vaccinations are required, but vets highly recommend your pet to have the core vaccinations!
Be prepared for the unexpected
Unexpected costs can often arise when you have a pet. They surprise you and don’t usually fit into the budget, leaving you unprepared when they arise. To prevent this, it is ideal to put money aside each month for the unexpected. These costs can be a hotel fee if you travel with your pooch and other expenses such as clothing, food delivery, grooming, and pet furniture.
Have emergency pet funds
As well as preparing for the unexpected, it is best to prepare for emergencies too. These can happen at the drop of a hat, especially with dogs and cats. Even if you think you won’t, it’s inevitable at some stage you will visit the vet in an emergency with your furry friend. For cat owners, this could be UTIs as they can quickly become an emergency that requires immediate attention. For pets that have adventures outdoors, poison and unfortunate encounters with wildlife can result in an emergency.
An emergency vet visit typically costs around $300 and can easily jump to $10000 or more. This is why pet insurance is crucial as it can help you with the cost.
Consider pet insurance
Implementing pet insurance in your pet budget is vital for your furry friend. While it isn’t essential or mandatory to have pet insurance, it can be a lifesaver when emergency expenses arise. It aids you with high costs that you need to pay to help your furry friend. In the long run, this monthly cost can save you money when huge expenses are needed.
Leave some budget to give back to animal charities
Help animal charities by budgeting donations to keep them going and saving animals’ lives. This is like when Muslims Pay Zakat as they can sometimes budget to prepare for their payment. Giving back to animal charities is a wonderful way to ensure that other animals are safe and looked after, ready to find a new home. A monthly donation can go a long way and help keep the adoption industry thriving, so all pets can find a new home and get the medical attention they need.
Budgeting is vital when it comes to owning a pet. It is important to remember that it isn’t going to predict every expense, but it will help you be prepared for any unexpected and emergency costs that typically arise. Use these budgeting tips for your pets to care for them responsibly and provide them with everything they need.
