The Secret Costs of Pets

The Secret Costs of Pets

The emotional tie between a pet and its owner is unique. For many families, pets are their only “children.” For some, they are adopted as an addition to the family. Regardless, there’s no denying that they are indeed family. And just like raising a child, there are costs associated with raising a pet.

Pets may not beg you for a Barbie Dream House or the latest Xbox gaming console, but you should be aware of the secret costs of pets that may pop up as you get your new pooch or kitty acclimated to your home. Most expenses can be put in three buckets: initial, recurring and surprise expenses.

Initial Expenses

• Adoption fees: Most pet adoption agencies are non-profit organizations, so it’s good to know that any fees you pay are going to a good cause. Fees can be different based on the size of the organization and the type of pet, but a good estimate for a dog would be $175-$200. Adoption fees for a cat could range from $50-$100.
• Supplies: A good leash and/or harness for walks will cost around $20. You want your new pet to sleep comfortably—but not on your couch—so purchase a pet bed for $25-$50. Add food and water bowls ($10-15) and you’re all set.
• Vaccinations: Some adoption agencies cover the initial vaccinations of pets, especially if the pet comes from a foster home. If you obtained your pet from a breeder, plan to spend about $100 for vaccinations.
• Initial Vet Visit: Your vet will want to see your new friend shortly after you bring it home, to review any health records you received and to perform their own exam. Some vets offer this as a complimentary service. For those that do not, expect a $50-$100 bill.
• Licensing: Part of that initial vet visit will be to register your pet in case of an unfortunate accident or if they get lost. It’s a nominal fee, often no more than $20-$25.
• Spay/Neuter: To promote smart breeding practices, most adoption agencies will not allow a pet to be adopted until it has been spayed or neutered. This is also often a complimentary service. If your pet is from a breeder and you wish to perform this procedure, expect to pay $50 for a cat and anywhere from $75-$150 for a dog (depending on the size).
• Pet Rent: Does your landlord allow pets? If so, great! But be sure to check if there is a higher rent tier if you have a pet versus what you are currently paying.

Recurring Expenses

• Vaccinations: The initial vaccines you get for your pet won’t last forever. A good vet will communicate when your furry friend is due for another shot.
• Food: Pets have to eat, right? A large bag of kibble or cat mix will last about a month and cost about $30-$35. If your pet has allergies and requires special food, expect this to double—or even triple. Save some money each month and order food by subscription. You can order directly from companies or set up a recurring delivery from Amazon.
• Licensing: Just like vaccines, licenses expire every few years. Spending $20-$25 every three or four years for renewal is worth it.
• Supply Replacement: Bones, balls and tugs will disappear and wear out over time. Buying toys or supplies isn’t a one-time expense.
• Vet Well Visits: Just like kids, your pets should visit the doctor for an annual checkup. Add $50-$100 for the appointment.
• Boarding: If you’re not taking your dog with you when you go on your summer vacation or to the shore for a long weekend, be sure to set aside about $250 per dog, per week. If you trust a neighbor to keep your cat company, refill food and water dishes and to scoop the litter box while you’re gone, this is a nominal expense.

Surprise Expenses

• Emergency Vet Visits: Be prepared for the bill from an all-night vet visit to be three or four times the cost of one during regular hours.
• Medications/Prescriptions: If your vet prescribes any medications, a monthly cost of $50-$75 is a starting point, but don’t be surprised if others cost much, much more.
• Replacement Carpet/Furniture: Your floors and furniture will show wear more quickly when you have a pet, especially if they are very playful. Wear and tear from paws, claws and accidents can speed up your timeline for new carpet, resurfacing your hardwood floors or replacement furniture.

The secret (and not-so-secret) costs of pets can really add up, and we’ve only scratched the surface of factors to consider. Be sure to take a good honest look at your budget and finances to ensure that now is the right time to welcome a new pet into your home.