5 tips for new pet owners

There’s no “kitten” around when it comes to adding a new furry member to your family. New pets are exciting and sure to bring tons of laughter and love into your household. However, they also come with a significant financial investment. Preparing ahead of time can help you focus less on the cost and more on your new best friend.

When adopting a new pet, you should have a good sense of the costs associated with owning a pet. Some of these can include:

• Microchipping
• Vaccinations
• Desexing
• Vet bills
• Food and treats
• Kitty litter
• Flea, tick and worming medications
• Collars, crates and toys
• Grooming
• Cute little outfits

Of course, the last one may or may not be a necessary expense, but who doesn’t love seeing a puppy in a hat? Check out some additional tips to financially plan for your new pet below.

As you’re preparing to welcome a new pet into your home, you should take some time to sit down and revise your monthly budget. Having a realistic expectation of the monthly costs will help you prepare in advance for expenses like food, litter, toys and vet bills. By building ongoing costs into your budget, you can be sure to allocate those funds and avoid surprises while also making sure you can afford a pet at this time in your life.

Just like saving and having an emergency account for things like car or home repairs, having an account dedicated to emergency pet care costs can be a good idea. We all know that curiosity killed the cat, and the last thing we want is for your new furry friend to start cashing in some of their nine lives. 

Unfortunately, playful new pets are going to get into trouble, and unforeseen veterinary expenses could pop up. By having a cash reserve in place, you’re able to offset some or all of the costs. Try building a monthly amount into your budget dedicated solely to saving for emergency pet costs.

Pet insurance works similarly to health insurance for humans. However, it often will not offer coverage for preexisting conditions. Pet insurance can be valuable for protecting you from the costs of sudden illness or injury, but it won’t cover things like preventive care and vaccines. 

Considering the monthly cost of carrying a pet insurance policy should be part of your overall budget planning. Depending on your situation, having this type of coverage for your pet could save you a lot of money in the long run. Make sure to compare providers as well as understand your deductible and out-of-pocket expenses.

Part of owning a pet is creating an environment in your home that is suitable and welcoming for your new furry friend. Things like crates, toys, cat trees and litter boxes are all made to be durable and stand up to some abuse. What this also means is that they often can be purchased secondhand via an online marketplace or thrift store. Saving on nonperishable items like these can help reduce the overall cost of owning a pet.

For many, this can be a contentious topic, but there are real benefits to adopting a pet instead of buying one from a breeder. Breeder fees are often much higher and typically will not include things like initial vaccines and desexing. Whereas most shelters will provide these services at low to no cost upon adoption.

Choosing to adopt from a local shelter or animal rescue is an incredible way to both make a positive impact in your community and save a notable amount of money when bringing a new family member into your home.

The bottom line

Having a pet is an incredible experience. It will bring you hours of joy, laughter and companionship. There’s nothing better than coming home after a long day and seeing your furry best friend waiting to greet you. But pets also cost a lot of money. Being prepared in advance will make adding a new family member to your household seamless and will set you up for success in the long run.