We love our furry friends... but how much does it really cost to keep one (or more!) AND are you ready to commit to it?
At some point or another, we all get the feeling that we’re meant to be a pet owner (and if you don’t, keep scrolling—because something’s clearly wrong with you!).
It might be the irresistible eyes of a fluffy puppy or the sudden urge to kidnap your friend's cat because you swear you share a special bond, but welcoming a furry friend into your life is no small commitment!
But if you do decide to lean into these fantasies, it's important to get the lowdown on the real cost of pet parenthood... before you commit to a pet-lifetime of financial responsibility.
From surprise vet bills to luxury snacks pricier than your own, here are the financial commitments you may want to consider:
🐶 Adoption or purchase fees: Obtaining your pet is the very first step! While adoption fees can range from $29-$800, purchasing a specific pet breed can cost anywhere between $1,500 to $6,000 or more if there is high demand!
🐱 Supplies: If you are first time paw-parents, you’ll likely have to set up your space which includes purchasing things like pet collars, food bowls, pet beds, crates, toys, and grooming tools. Estimated cost: up to $500 in the first year.
🐾Vet bills: For pets under 1 year, a higher number of vet visits are often required for vaccinations and spaying/neutering. Adopting a street animal may also incur higher upfront vet costs because there could be potential health problems that should be checked and monitored. Estimated cost: up to $1,000 in the first year, or potentially free if you adopt from an animal shelter.
Estimated upfront costs: $500 - $7,500
🥫Food and supplies: Pets don’t feed themselves! Now you have an extra mouth to feed, you’ll also have to add it to your budget. If you have a cat, you’ll also have to regularly purchase new litter. Estimated cost: up to $2,024 each year for premium food, plus treats.
🧑🏽⚕️ Routine vet visits: An annual vet visit is ideal for check ups, vaccinations, flea prevention and dental care. Keeping your pet healthy will avoid bigger bucks spent down the track! Estimated cost: Vet visits may cost up to $630 each year, depending on your pet’s health. Flea, tick and worming medications may cost up to $320 each year.
🏥 Pet insurance: Just like humans, pets can also get cover for unexpected medical expenses. Pet insurance is optional, so weigh up the pros and cons for your situation to decide if it’s worth investing in. Estimated cost: $60 to $120 per month.
🏡 Pet sitting: If you’re a big traveller you may need some extra budget to hire a trustworthy pet sitter for your furry friend while you’re away. Or… try enlist your friends and family for voluntary pet sitting to save some coin. Estimated cost: $25 to $125 per night.
Estimated monthly costs: $275 per month, not including travel or medication
🚑 Emergency vet bills: Every paw-parents worst nightmare is an accident or unexpected health problem.. If you don’t have pet insurance or an emergency pet fund to cover these costs, it can make the situation even more stressful! Budget accordingly, and ensure you have a financial plan for any emergency event. Estimated cost: from $200 (for just a consultation) to a minimum of $1,659 (requiring hospitalisation) depending what condition your pet is in.
🛋️ Damaged property: Untrained pets can resort to playful actions to get human attention, and sometimes that involves causing damage to furniture and household items. Accept that it’s part of the process and don’t get too mad if your favourite sneakers become your pets favourite toy. Estimated cost: $0 to thousands! (bonus tip: hide your valuable/fragile goods)
The next time you lock eyes with a fluffy street cat or let yourself get swept up in puppy-fever, consider all the upfront, ongoing and hidden costs of pet-parenthood. If after doing so, your bank account is still in the green, it’s a good sign you’re ready to welcome a furry companion into your life!
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