Budgeting for Your New Pet
How much is that doggy in the window? There are many costs to consider, beyond the initial investment, when adding a pet to your family. On average, households in the U.S. spend more than $500 a year on their pets. With that in mind, here are some costs to keep in mind to ensure you and your new pet will be off to a great start:
Initial costs for your new best friend: Adoption fees and the essentials like a leash and collar, food, water bowls, a bed and a crate. There will also be a fee for licensing your new pet with the animal service agency in your jurisdiction. Your new pet may also need to be spayed/neutered, vaccinated and microchipped (animals adopted from San Diego Humane Society already include these care basics).
Ongoing costs: Food, treats, toys, pet insurance and flea medication for your pet.
The little "extra" costs that may occasionally arise: Medication, grooming, pet sitting and ‘the puppy ate my glasses’ expenses your new family member could cost you in the long run.
For more information on planning financially for your new pet, visit these useful resources:
- Pet insurance: www.petfirst.com
- How to care for your pet in your will: San Diego Humane Society Pet Guardianship Program
- Budgeting for your pet: moneygeek.com/living/resources/pet-expenses/