Who doesn’t like animals? They fill our lives with unexpected joy. The dog wakes us up in the morning with his wonderfully large tongue. The cat walks on us, and pretty much everywhere else for that matter. Oh yes, pets are wonderful things. But they’re also very expensive. How about we look at some numbers and see just how costly our furry companions can be, and whether you’re ready for pet ownership. After all, the choice could be between dog food and your rent. For the sake of numbers, we’re going to look at the high end of spending.
Please keep in mind that 78% of potential pet owners underestimate the cost of having an animal.
These are those expenses that come up during that first year of ownership. The ASPCA states that those first-year expenses can range from $1,314 to $1,843. Luckily these should only happen once. Looking past that, however, there are still more expenses that pop up annually. Those costs involve food, vaccines, medicines, etc. Those expenses will cost you somewhere between $580 and $875. And this is all for your dog. We haven’t even talked about cats.
Cat are generally less expensive to own than dogs. Your feiline friend will cost you around $900 that first year. Annual costs will land somewhere between $350 and $1,575.
Currently, the average American spends about $126 every month on their pet.
Animals cost money. Startup expenses may be a one-time deal, but you’re still looking at spending somewhere around $1,000+. After that, you need to consider the amount of money you’ll need for monthly spending.
Perhaps this doesn’t seem like much, but these numbers can be all the difference to a person struggling with money. Yes, animals are awesome, but you should make wise spending decisions. Take some time and do your homework. If it’s doable, create a budget that you can stick to every month. Pets can bring you happiness, but so can paying a bill on time.