Last Updated: 31st October 2021
“I work hard so my dog can have a better life.” There goes the popular pet lover meme on Facebook. For some, owning or adopting pets means going as far as treating the latter like their own. They won’t give a second thought on providing not only their pets’ basic needs but also spoiling them. However, owning a pet is a big commitment.
Written by: Big Piggyy
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Pets can sweeten your bitter heart, but they can also leave a dent in your bank account! Are you financially and emotionally ready to welcome, own, or adopt pets?
Adopt, buy, or bring home a pet of your choice if you can answer “yes” to the following questions:
Will your pet suit your lifestyle? Will your lifestyle suit your pet?
If you’re active, find a pet that can tag along with you as you walk, run or jog. Low-maintenance pets like turtles, guinea pigs, goldfish, or hamsters, on the other hand, are ideal for busy people.
Can you commit?
Know the lifespan, needs, and characteristics of the pet that you plan to keep. If you intend to keep a dog, are you ready to take care of them for 10 to 15 years? Your pet can help ease your loneliness. But are you ready to face the grief once your pet is gone?
Is your home pet-proof?
Making your home pet-proof entails ensuring the safety of your pet while protecting your stuff. Keep your pets away from loose accessories while you’re not around. Birds, guinea pigs, and hamsters are safer when caged.
Can you keep your family members safe with pets around?
Pets are potential carriers of certain bacteria, viruses, parasites, and fungi that can cause illness once transmitted to humans. Infants, children, pregnant women, and those with weak immune systems are prone to these diseases.
The annual cost of owning a dog and a cat alone can be estimated at $1,391 and $1,149, respectively, based on the American Society for the Prevention of Cruelty to Animals (ASPCA) data.
Dogs and cats can be the popular choices but small house pets are also darlings to pet keepers. The estimated initial and annual costs of owning or keeping these pets are as follows:
| Pet | First-Year Cost | Annual Cost |
| Rabbit | $1,040 | $660 |
| Hamster | $345 | $260 |
| Small Bird | $295 | $185 |
| Fish | $230 | $20 |
The annual cost of owning a pet can range from hundreds to thousands of dollars. The initial cost includes adoption, vaccinations, training, and the likes, while the general costs cover your pet’s food, toys, routine vet visits, etc. Combine these costs, and you’ll get a rough estimate of the lifetime cost of owning a pet.
According to the American Society for the Prevention of Cruelty to Animals (ASPCA), the first-year cost of dog (or cat) ownership exceeds $1,000. Below are breakdowns of the average one-time and annual costs of owning a dog or a cat, specifically: Note that prices are based on adoption instead of buying a pet elsewhere.
The estimated cost of owning a dog ranges from $1,400 to $4,300 per year. First-time pet owners need to allot nearly $400 for the bare necessities alone. The total first-year costs range from $1,314 and $1,843 on average, based on the size of your dog, the ASPCA estimates.
In the first year alone, dog keeping can cost between $700 and $2,000, excluding any special needs like dog walking, pet insurance, and grooming, which can raise the cost by more than $7,000.Your annual expenses may slightly decrease or significantly increase in the following years depending on various factors such as any medical conditions that arise, whether you purchase pet insurance, your pet’s size, and how much they eat. Be prepared for a big vet bill if your dog gets sick.
Dr. Louise Murray, vice-president of the ASPCA Bergh Memorial Animal Hospital in New York City, confirmed that mixed-breed, 10- to 20-pound dogs are typically the least expensive canines to own.
So, before getting a dog, ensure that you have saved enough to cover at least three months’ worth of your future pet’s living expenses.
According to the Prudent Pet, the following are the top 10 most expensive dog breeds to own in 2021:
Listed here are the cheapest dog breeds you can own:
Initial Costs
Your insurance premiums can vary depending on the breed of dog you own. It costs a little more to insure those breeds prone to health issues than others. Aside from the breed, your pet’s age and location influence the cost.
Older pets are more likely to need veterinary care; hence, pet insurance companies charge more to cover them.
Small dogs: $210/year
Medium dogs: $235/year
Large dogs: $260/year
To give you an idea of what to expect when you need to schedule your dog’s vet visits, here is an estimate of each of those priority services:
Analysts at Petbreeds, a pet research site powered by Graphiq, worked with Veterinary Pet Insurance Co. (VPI) to find the breeds that rack up the most in medical costs per year. Researchers looked at breeds with at least 2,000 policies with VPI and found these dogs with the largest amount in injury and illness claims, on average, from 2011 to 2013.
Most Expensive Dog Breeds in Medical Costs:
High-quality dog food and healthy dog treats cost somewhere from $20 to $60 per month ($250 to $700 per year). Food expenses vary based on the size and energy level of your dog as well as the quality of the food:
Small dogs: $55/year
Medium dogs: $120/year
Large dogs: $235/year
Dry dog foods are cheaper than canned dog foods. A 30- lb bag of dry Taste of the Wild, for example, costs $47 on Amazon, compared to twelve 13.2 oz cans (i.e., 10 lbs) of wet Taste of the Wild for $43. Each pound of canned food is $2.73 more expensive.
A food and water bowl will cost you no more than $40.
Tip: Always consult your vet to determine the best diet for your dog.
Be ready to pay around $40-$75 for dog grooming, depending on your dog’s size. A mobile dog groomer can come to you for an average of $75 for an average size dog. Also, you can groom your dog at the self-service facility for $11-$23.
Nail Trimming – The cost is around $10 or less. Trimming a dog’s nails is a delicate task; cut it too short, and you can injure them, resulting in pain and bleeding. The last thing anyone wants to do is hurt their pet. Luckily, the cost for trimming a dog’s nails is around $10 or less.
Bathing Costs – The average cost of a full grooming treatment, including a hair trim and a bath, is $30 to $90.
Obedience training benefits you and your dog. You can build a stronger bond with your dog, and you’ll appreciate dog ownership more knowing you’re with a well-trained, obedient, happy, relaxed, responsive pet.
Group Training Costs. Allowing your dog to join a group of other dogs in group training will help them learn to listen, obey and learn new skills. Group training costs can range from $40 to $125 and sometimes higher. Puppy training classes will cost less than adult training classes.
Private Training Costs. Dogs with behavioral issues or need particular care will benefit from joining private training where the trainer will spend one-on-one time with your dog and help correct whatever behavior needs correcting. An hour-long session costs anywhere from $30 to $100.
Premium Training Costs Premium training is similar to puppy boarding school. During the training, your dog will live in a boarding facility for two to four weeks and receive hours of individual attention each day. Prepare to pay anywhere from $950 to $2,000 for this training type.
Dog walking. Dog walkers normally charge between $19 and $29 for a 30-minute dog walking service. In the US, the average cost for a 30-minute dog walking service is $22.56 in 2020.
Pet sitting/boarding. The cost for daily dog and cat pet sitting visits is somewhere around: $19-25 per 15-minute visit. $25-29 per 30-minute visit. $29-35 per 45-minute visit.
Pet fees if you’re renting your home. A study from PetFinder showed that the average pet deposit is between 40 and 85 percent of the rent. For instance, if the rent is $2,000 a month, the pet deposit will run you anywhere from $800 (40 percent of $2,000) to $1,700 (85 percent of $2,000).
On average, landlords normally charge a $50 pet fee and a $120 cleaning fee. This fee is to help cover the cost of hiring a professional company to clean the room and make it ready for the next guest.
There are also one-time pet fees similar to pet deposits, except that they’re non-refundable. Pet fees may range from $200 to $500, depending on the size and breed.
Microchip. Getting your dog microchipped will require you around $45. The cost includes the actual chip, the vet procedure, and the online registration process. The dog’s size does not impact the price since the procedure is the same, and the actual chip doesn’t vary much.
Living essentials (beds, dog ramps, etc.). Dog ramps provide your pets easy access to sofas, chairs, beds, and even cars. You can search and shop for these essentials online.
Pet accessories (harness, collars, toys, etc.). On average, you will spend $50-$300 annually for these.
A national pet owners survey showed that approximately 95.6 million cats lived in households in the United States in 2017. In the same year, some 68 percent of all US households owned at least one pet.
According to the ASPCA, you are expected to spend around $53 monthly on your cat or $634 annually.
Based on the 2021-2022 National Pet Owners Survey conducted by the American Pet Products Association (APPA), 45.3 million American households own a cat. Adoptions have increased in some metro areas due to COVID-19, as folks look for companionship while staying mostly at home.
According to APPA, keeping a cat will cost you $326 a year on food and treats alone. You need to consider vaccinations, food, litter, and other recurring and one-time expenses.
Most Expensive Cat Breeds
Least Expensive Cat Breeds
A routine cat checkup can cost you t between $50 to $250, while most general veterinary care costs less than $500. Be ready for unexpected health problems that can cost much to treat depending on your pet’s condition.
Choose the best food for your pet. Premium cat food is the best choice. Cats can’t thoroughly digest lower quality foods and feeding them results in more frequent stools. Prepare around $120-500 on cat food annually.
Whether it’s dry cat food or wet cat food, most commercial cat foods provide an excellent source of nutrition. Finding the best food for your cat, however, will depend on several factors, such as your cat’s weight, and health conditions, and your budget. Talk to your vet to come up with the best decision regarding your cat’s nutrition and health.
A nail trim will cost around $10. The average cost of a professional cat bath will be between $30 and $50. Cleaning a cat’s ears will cost around $5. Sanitary cleaning, which involves trimming the hair around the rectum to remove fecal matter, helps prevent infections, and bacterial growth is usually included in the cost of a bath.
Toys will help your pet fight boredom while you’re away. Cat toys are usually $10 or less. Other essentials to delight your pet include:
Cat bed and carrier – $20
Food and water bowl – $7
Cat litter – $10.00 to $40.00 per month
Cat scratching post – between $21.49 and $110.99
Cattery -$5-$6 per day in areas with less demand to as much as $20 per day in the middle of the city.
Getting familiar with the most common pet emergencies will help you decide if an immediate vet visit is needed. Here are some of those pet emergencies that need immediate attention:
If your dog, specifically, displays any of these symptoms, don’t wait. Call your vet immediately and have your dog treated right away.
These include:
If your cat starts to act strangely or looks in pain, take it to the vet right away.
Keeping your pet while sticking to your budget is challenging. So, how strategically can you manage your finances to secure your pet’s food and supplies and manage your expenses? To reduce the financial burden of owning a pet, we suggest the following:
Pet insurance can cover costs associated with certain illnesses or types of veterinary treatment. You can avoid crippling medical costs if you have pet insurance.
Once you are decided on petkeeping, go::
Who Spends the Most?
A survey conducted in 2020/21 revealed that millennials represented the biggest share of pet owners in the United States (32 percent). Next in line are the Baby Boomers (27 percent). Generation Xers, who represent some 24 percent of pet owners, came in third.
Baby Boomers
In 2018, baby spending on overall pet care dropped from 46.8% in 2017 to 37.7%. Their spending on pet food also dropped significantly by 25%. Overall, baby boomers’ spending on pets dropped by 18%.
Millennials
Millennials would love to pamper their pets. The TD Ameritrade study found that millennials are more than twice as likely to buy their pets’ clothing than Baby Boomers, and 17% of them buy their pets Halloween costumes each year.
Millennials are a generation of pet parents. YPulse’s recent survey found that 76% of millennials have a pet, with over half reporting dogs and 35% own cats. Hence, they are the target market for pet brands everywhere.
The study also revealed that 7% of Millennials had adopted a pet during COVID-19 to have company during quarantines. Three in ten said they regularly purchase presents for their pets, and nearly a quarter admitted they have been spending more than usual on their pet because of COVID.
PULSE data shows that half of these young pet owners have purchased toys for their pets during the last six months (during the pandemic), and nearly the same number have purchased special food treats.
"Show me the MONEY!!!" – Jerry Maguire
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Fluffy, sweet, and cuddly – who could ever resist the cute and funny antics of our furry friends? Not many, so many animals have come into our homes to become a part of our families. However, some owners do not have the luxury of attending to their pets, giving rise to pet care jobs.
Pets are gifts to humanity! We are responsible for nurturing and caring for them and must not immediately give up when things become difficult. But in this COVID-19 crisis, how can we fulfill this responsibility?
During a world pandemic, budgeting is especially difficult. It can be hard to budget for daily expenses when you don’t know what each day will bring. The expenses might include food costs, transportation costs, medical care, and hospital bills.
