The cost of owning a pet

Welcoming a pet into the family is very exciting. But it’s also a big responsibility. Often when we think about adding a cat or dog to the family, we don’t think about how much money our new family members will cost.

“The well-being of our animals not only means giving them plenty love and attention, but money and energy to make sure they live well,” said Katie Scofield, Financial Education Officer at Numerica Credit Union. “And if we are living well, don’t our pets deserve the same.”

So before getting a pet, sit down and think about whether you can afford a kitty, puppy or guppy. Before you can begin your search for your new furry friend, you have to consider which pet will be the best for you and your family.

According the to ASPCA, the estimated first-year cost of owning a dog is $1,455 and for a cat it’s $1,105.

“It’s important to keep track of how much you are spending on your pet so you can make a future budget,” says Scofield.  

Planning for the unexpected

Don’t forget to plan for the unexpected expenses like operations or other accidents. As your pet gets older, trips to the vet can become more common. Putting savings aside for your animal is important to make sure they receive the care they need. You can find out more about budgeting at numericacu.com/news.

Finding the time, money, and resources to care for our new dog or cat is a big responsibility and should definitely be discussed beforehand. Once you are done with your research and budgeting, think about beginning your search for your pet in a local shelter. There’s always a happy tail or nose ready to greet you.