Pets are the perfect addition to complete any family. Your four-legged companions bring joy, comfort, and laughter to your life while showing you unconditional love. However, all this love and affection doesn’t exactly come for free. You’ll still need to budget and plan for pet expenses throughout the year.
As with any big decision—like bringing a pet into your home—it helps to know the facts about what you’re taking on. We’ve compiled a helpful list for you to understand what the average pet owner will spend on their animals every year. Of course, this will vary based on the pet breed, your personal schedule, and so much more. However, you can get a good idea of what you may be looking at as you prepare to bring in a new addition to your home.
Cover the basic costs of food.
Food is the top cost of raising a pet because you are constantly replenishing it. Depending on the dietary and individual needs of your specific animal, you may need special food or to try different kinds throughout the year. Dog owners tend to spend more on food than cat owners as an example of the two most common house pets. On average, many spend about $500 on food for their pets throughout the year.
Make sure you’re prepared for any veterinary fees.
Keeping your pets healthy will also end up costing you. On a basic level, you may want to take them in for annual checkups, which will usually cost between $100 and $300. If you need vaccinations, emergency appointments, or specialty veterinary care, this will obviously end up adding to your yearly costs. It will also help you to find a reliable vet that you can go to whenever needed. Whether it’s veterinary services in Cleveland, OH, or Malibu, CA, you need a great vet that will offer quality medical care for your beloved pets at a decent price.
Take care of your pet even when you’re not at home.
Life can get busy for everyone, including pet owners. Whether you’re going on vacation for several days or have a busy schedule for one afternoon, you may need to pay someone to watch over your pets. Budget some extra funds from a credit union in Kentwood, MI, or wherever you’re located so you can board your dog or pay a pet sitter when you’re out of town. There are even services you can use to hire someone to walk your dog if you’re away for the day. Depending on your lifestyle and the amount of traveling you do, this may cost less than $100 a year or much more.
Keep your pet looking great with grooming costs.
It’s healthy for pets to stay groomed and always look their best. Especially as a dog owner, you’ll want to factor grooming costs into your pet budget. Many owners will spend a few hundred dollars keeping their dogs groomed every year.
Consider buying pet insurance.
Just like you purchase health insurance for yourself, you may want to consider getting pet insurance for your animals. By paying a few dollars a month, you save yourself from a huge fee if you need emergency surgery for your animals. You also may need pet insurance depending on where you live to protect an apartment from any potential damage from your animals.
Budget a little extra to spoil your pets.
Of course, you need to pay for all the necessities for your pets, but you’ll want to have a little extra money to spoil them a little. Toys, splurge items, and accessories can be special treats that your pets will love and enjoy. Save anywhere from $50-$500 to give your pets a fun and exciting life with these extra items.