Managing your Budget While Loving Your Pet

Written by The Debt Free Guys

They’re lovable, cuddly, and sometimes, they can be expensive. What are they? Our fur babies. Here’s how to care for your pet (and your budget).

Here’s a budgeting lesson we learned the hard way

For years, we wanted three French Bulldogs – two puppies and one rescue. We imagined the two puppies would be named Luca and Loki and the rescue pup would be named Lucky. During the pandemic, we applied to adopt Lucky and started saving money for our new best friends. Turns out, the rescue had two French Bulldogs available, and they needed to stick together. Suddenly, we were adopting Luca and Loki!

When the puppies arrived, we had about $2,500 saved and quickly found that wasn’t enough. The total cost for both Luca and Loki was $1,500, which left us with $1,000 left.

Being first-time pet owners, we burned through that $1,000 fast. The take-away here is to save more money and start saving earlier than we did. Here are the initial costs for which you’ll want to budget.

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Adoption or purchase fees and other fees

The average cost for adopting or rescuing a pet ranges between $50 and $350. Buying a new puppy or kitten can add up to thousands of dollars. A great alternative to purchasing a pet is adoption – adopting is less expensive and can save a life when rescuing from a shelter or organization.

Some cities and townships will require pet owners to get licenses for their dogs and cats - so that’s definitely something to look into in terms of annual budget-planning.

Pet accessories

When you finally bring your new pet to your home, you’ll want them to feel like it’s their home too. This will include having supplies such as:

• Food and water bowls
• Collar, leash, or harness and tag
• Bed and crate
• Food
• Toys
• Travel carrier

To be honest, you can spend so much money on these expenses that you ruin your budget – many pet owners do – But it doesn’t have to be that way as long as you do a little research and get creative. For example, many dog rescues and other nonprofits that serve animals sell pet toys that are great for your pet and help keep the rescues and non-profits open. This is a great way to keep your pet happy and help other animals in need.

Food will be your most recurring expense. This cost is based on the size of your pet and the quality of the food (and treats!) you buy.  

Health and wellness

Your new pet will need an initial medical exam, which oftentimes doesn’t include medications or additional medical services your pet may need.

A simple online search can help you find affordable pet medication services.

You’ll want to be sure to keep in mind the costs of dental care and spaying/neutering your pet, as well. There are services for free and low-cost pet care available for folks in need. Visit humanesociety.org for more information.

Dog-walking is another service you’ll want to consider if you buy or adopt a dog and you work away from home for many hours at a stretch. This will help ensure your dog stays active and give them relief when nature calls.

The competition for the most expensive line item in your pet budget will be between daycare/boarding and veterinary visits. Fortunately, most daycare centers have packages to lower your net cost. 

How to save money with your pet

Not keeping an eye on your pet expenses can cost you thousands of dollars a year and blow your budget. Fortunately, there are ways to love your pet and your budget.

Thrift shops, donation centers, and sometimes yard sales sell pet supplies, including gently used pet toys. These supplies are sold at a great discount from their original prices. If “yard saling” and thrifting aren’t your things, but scrolling is, online marketplaces are good sources for gently used and unused pet supplies.

You can reduce your costs further by recycling or upcycling items you already own. Old buckets and end tables can be repurposed as feeders for large dogs. Belts can become dog collars. Many things can be turned into pet toys. Don’t worry if you’re not creative; there are thousands of online videos to help you DIY all the supplies you need.

If you buy from a pet store, be sure to look for sales and coupons. Browser extensions, such as Capital One Shopping, are great for discounts and deals. Sign up for rewards programs at whichever store you’ll most frequently shop with. 

If you’re in the market for a pet, we hope our experience helps you budget better. Of course, the dogs we had growing up weren’t pampered like Luca and Loki are, and we could pamper them less. But our hearts won’t allow it. We suspect your heart won’t either.