Can You Afford a Pet?

Before envisioning long walks and fur-baby snuggles, make sure you are financially prepared for what’s ahead. The ASPCA estimates the first year costs of owning a pet is at least $1,000 – and that’s not factoring in unexpected emergencies.

Here is the breakdown of the average annual costs for a medium dog (not including the adoption fee which can range from $45-$300).

One-time costs

Spaying/Neuter: $200
Initial Medical Exam: $70
Collar and leash: $30-$45
Crate: $95+
Travel Crate: $60+
Training: $110

Recurring costs

Food: $319
Annual Exams: $235
Toys/Treats: $55+
License: $15
Grooming: $264+
Pet Insurance: $225

First Year Average TOTAL: $1,723

If you have a large dog, that average total jumps to $2,008. Cats are a bit friendlier on your wallet at $1,174.

Here are a few tips to help keep costs down:

Schedule regular check-ups.
Don’t be afraid to shop around for the right vet and compare preventative care fees. Ask family or friends who have pets who they go to and if they are happy with the veterinary services.

Brush your pet’s teeth.
Just don’t use toothpaste made for people, since the fluoride may irritate your pet’s stomach. But good dental health is important for pets – believe it or not, dental disease can lead to heart and kidney problems.

Groom your pet at home.
Some grooming salons offer a fully stocked self-service room complete with a tub, blow dryer, apron, and gloves at a fraction of the cost. Bonus? You take your fresh smelling dog home without doing any post-bath clean-up. Also invest in a good brush. Setting aside daily brushing time is good for your pet and will reduce the amount of hair floating around your home.

Article Source: Myriam DiGiovanni for Financialfeed.com