Are You Financially Ready to Own a Four-Legged Friend?
Are you thinking about bringing home a new four-legged friend, but aren’t sure you are financially ready? It’s important to consider the initial investment and the annual cost of owning a pet. With a little research and planning, you will be able to make an educated decision if you are ready to commit to a FURever friend.
Make a List and Compare Prices
Make a list of your new furry friend’s needs. Separate the list into essential items and wanted items. After you’ve finished compiling the list of items, compare prices. Amazon, Petco, PetSmart, Walmart, and Chewy are just a few places you can begin price checking. Making a list will also give you a general idea of pricing one-time pet expenses (crate, food bowls, leashes) and reoccurring expenses (food, toys). You can also call around to area veterinary offices and request the estimated cost of annual well visits, vaccines, spay/neuter costs, and other expected vet costs.
The Cost of the Unexpected
Unexpected events are the hidden costs of owning a pet. An unexpected cost can be paying to board your pet while on vacation because your original pet sitter had an unexpected change of plans. Another unexpected cost can be purchasing a new couch because your new puppy mistakes it for a giant chew toy. Vet bills for a life-or-death surgery can also fall into this category. Having an annual budget or setting aside between $1,000 and $2,000 for said expenses is ideal.
The Big Decision
After researching and planning, you are now ready to make your decision. Adding a pet to your family is a big responsibility. It is not only a financial commitment, but it is also a time commitment. Being a pet owner takes lots of love, patience, and more patience. If you are ready for the time commitment, double check the math before you bring home your new furry friend.