Owning a pet, such as a dog or cat, can be one of the biggest joys of your life. However, before you make a purchase, it’s important to consider the financial impact.
Many people look at the initial cost of purchasing a pet, not realizing that this is just the start. Rather than focusing solely on this detail, it’s important to create a comprehensive list of regular expenses.
Here are some of the annual expenses associated with pet ownership:
• Medical exams
• Food
• Treats and toys
• License
• Pet insurance
• Miscellaneous items
As you can imagine, these expenses have a way of adding up over the months. Depending on the type of pet, depending on the breed, don’t be surprised if you find yourself spending approximately $1,000 per year.
Also, the above doesn’t take into consideration any emergencies you may face. For example, your dog could suffer an injury that requires specialized medical treatment. In this case, you’ll find yourself parting with hundreds (or maybe even thousands) of dollars.
These numbers are not meant to scare you away from purchasing a pet. Instead, they’re meant to show you that there are more costs than you may initially realize. By planning in advance, you’ll never find yourself in a position in which you’re surprised.
As long as you understand the true cost of pet ownership, you can decide if this is something you want to move forward with in the near future.
Your job is simple: compare the benefits of pet ownership to the expenses. If you’re okay with the financial impact, it’s time to begin your search for your new best friend!