It is always good to know the financial commitment of owning a pet BEFORE you make the commitment. The old song asks, “How much is that doggie in the window?” Well, let’s ask Paul Fain, president of Asset Planning Corporation to weigh in on dog ownership and our household budgets.
PAUL, THIS HITS HOME WITH YOU RIGHT NOW….YOUR DOG JUST HAD SURGERY?
Mabel is a 4-year old athletic mutt and recently tore her ACL. We elected to have her knee surgically repaired. Unexpected cost and full-time care.
LIKE YOU, MOST PEOPLE LOVE THEIR PETS AND WOULD NOT PUT A PRICE TAG ON THEIR WELL-BEING…BUT HOW MUCH DOES IT COST?
Very few people have an idea of how much owning a dog really costs! Replacing carpet? Furniture chewed on? Flower garden unearthed? Consider these estimates:
Expense Annual
- Food $120-500
- Veterinary Care $100-300
- Emergency Care $0-2000+
- Flea/Tick Prevention $200-500
- Teeth $0-500
- Pet Supplies $0-200
- Grooming $0-1200
- Stain/Odor Removers $10-100
- Boarding per day $15-40
Average: $50-200 per month
AND SOME DOGS SIMPLY COST MORE THAN OTHERS RIGHT?
- “Puppy Mills” A poorly bred dog could be very expensive – bad hips, teeth, etc.
- A high quality bred dog could cost $1000 or more.
- Do the animal kingdom a favor and get a hearty mixed breed dog.
OWNING A PET IS NOT SOMETHING TO DO ON A WHIM! WHAT ARE SOME TIPS FOR WOULD-BE OWNERS?
I often see young people get in over their heads buying a pet. Not only do they not realize the cost and responsibility they assume that mom and dad want to be doggie grandparent to save them boarding costs when they travel to Bonnaroo!
- Figure out your budget for pet care.
- Set aside funds for the unexpected.
- Decide about life-saving measures BEFORE it happens.
- Research pet insurance.
We own dogs and cats because we love dogs and cats. Their well-being should always come first. So, be aware of the cost and commitment to your budget and time.
This segment was originally aired on WBIR Channel 10 on 9/18/16.
