Budgeting for a Pet
Owning a pet can have many benefits to improve your overall health and well-being mentally and physically. Pets can also come with unexpected expenses. Many people adopt animals without understanding the expenses that go along with pet ownership. Make sure you are aware of all of the expenses that go along with owning a pet and that you are financially ready to take on this responsibility.
Initial Pet expenses:
- Adoption Fee/Cost of animal – Whether you decide to adopt your pet or purchase them from a breeder, there will be an initial expense to gain ownership of your animal. Adopting is normally the less expensive option if you are looking to go the more budget-friendly route. If you would like to purchase an animal from a breeder, this can run from around $500-$4,000.
- Pet Bed – Make sure to do your research on the type of bed your animal will need. Sometimes the most expensive bed is not always the best option. Depending on your animal’s mobility and size, animal beds tend to be around $30-$50.
- Crate/Cage – Depending on how you would like to train your animal, you may need a crate or a cage for them. If you are getting a cat, you will need a crate for transportation. If you are getting a dog, you may not want to leave them alone with free reign of your home. Whatever you decide, be sure to be prepared with the route you choose.
- Training/Pet Fencing – Depending on where you live and what pet you’re planning on getting, you may want to invest in a fence around your property to prevent them from running away. Also, depending on the animal that you would like, you may want to invest in training for your pet.
- Pet Collar/Leash – If your animal is not in a cage, like a dog or a cat. Make sure that your animal has a collar on that includes your information on it. This will ensure that if your pet runs away, there is a better chance of someone finding them and knowing where they need to be returned. If you are getting an animal that needs to be walked, make sure to have a leash ready for them.
- Spaying/Neutering – If you choose to adopt, most of the animals will be spayed or neutered already. So, there is a good chance you won’t need to pay to have that done. If you purchase your animal from a breeder, there is more of a chance that you will have to pay to have your pet spayed or neutered. These surgeries can be hundreds of dollars depending on the animal and where you decide to get it done.
- Litter Box – Again, depending on the animal that you want, you may or may not have to worry about this. Litter boxes are one of the cheaper expenses and will take some research to find the litter box that works for you and your animal.
- Initial Medical Costs – Depending on where you get your animal from, they may not have all of the vaccines that they need. Or, they might not have gotten an initial examination from a veterinarian. If this is the case, you will need to take them in and get these essentials taken
care of.
Monthly Pet Expenses:
- Pet food and treats – Planning costs for food and treats will depend on what animal you have and what you want to prioritize for your pet. Do your research on your pet to determine how much a month it’ll cost to feed them.
- Pet toys – To ensure your animals’ happiness, toys are essential. It is important to budget for toys and fun for your animal every month.
- Cat litter – If you have a cat, cat litter is an expense you can’t avoid. Make sure to remember this when budgeting for a cat.
- Medicine/Preventative Veterinary Care – Some animals require medicine to prevent things like fleas and ticks. If the type of animal that you have is prone to these things. You may need to pay for medicine to be used for preventative care. Be sure to know how often you’re supposed to take them to the vet to keep them healthy.
- Pet insurance – This is optional, but if you would like your animal covered by insurance, depending on the animal it may be around $20-$50 a month. Pet insurance can help save you money if your pet needs medical care and might be a smart option for animals that are prone to needing to go to the vet.
- Grooming – Whether you decide to professionally get your animal groomed or do it yourself, both come with different expenses. Make sure to do your research to know what your particular animal needs to be adequately groomed and how often.
These expenses vary in price depending on what you would like to prioritize and what your pet needs. Understanding these expenses will help you with financial planning if you’re new to pet ownership.