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How Much Does a Pet Cost?

Jun 2, 2020, 19:06 PM

Father pushing son and dog in wheelbarrow

The cost of having a pet can add up quickly – between food, vet bills and toys. And, even though your furry friend will surely bring a lot of love and joy into your life, you’ll want to make sure you are ready for the cost. Here’s how you can financially prepare for Fido:

Consider All the Costs – It’s not just the adoption or purchasing that needs to be considered. Vet bills, food, grooming, medication, and end-of-life care all need to be factored into your budget. In order to make it easier for you to plan for your new arrival, check out this handy financial breakdown from the ASPCA of the annual costs of caring for a variety of species.

You’ll also need to factor in travel-related costs, such as pet sitting and boarding for when you’re away, and any additional rental deposits if you’re renting a home or apartment.

Pet-proofing your living space makes your home safer for your pet, which may include any combination of expenses, such as:

  • Window Screens 
  • Outdoor Fencing
  • Gates/Grates
  • Ramps/Pet Stairs 

 And, even if you’re a watchful pet parent, it’s reasonable to expect a little (or a lot!) of mischief from your new pet (especially if they are still in the puppy stage). This usually results in repairing or replacing damaged items. So, budgeting for a little extra property damage will ease the pain when Fido decides that your brand-new shoes are his new favorite chew toy.

For most, the benefits of pet ownership far outweigh the costs. So, what can you do to ensure you’re financially ready for your new bundle of fur (scales, feathers, etc.)?

 Budget, Budget, Budget

We can help you budget for your pet. Our best suggestion? Overestimate expected costs, based on the list provided above from the ASPCA and put any leftover funds right into your savings account.

 Plan for Emergencies

No one wants to think about a medical emergency. Lower the stress of a pet’s health issues – which may come with significant vet bills – by saving more today. Instead of buying a pricey pet insurance policy, we suggest making additional contributions each month to your emergency fund.

 Choose the Right Partner

In the event of unforeseen expenses concerning your pet, we’ve got your back. U.S. Eagle personal loans and credit cards offer great low rates, low fees, and lots of flexibility for unplanned expenses. 

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