I grew up with pets. We always had a cat and sometimes a dog. I am particularly fond of cats, and without a cat, our house just feels lonelier. Still, based on my experiences growing up and now, I don’t think people should have pets if they have consumer debt.
Pets, though lovable companions, are expensive. There is just no way around it. Consider some of the following pet expenses:
Purchasing the pet. If you buy a purebred, you are looking at several hundred dollars up to thousands of dollars just to purchase the animal. Even if you get an animal from the shelter, you usually still have to pay to have it spayed or neutered.
Licensing. If you live near a large city, you will be required to pay for an annual license. This can cost $50 to $100.
Food. We have a small 10 pound cat that eats approximately $25 a month in food. Imagine feeding a large breed dog; you could be paying $50 or more just for food each month.
Accessories. Dogs need leashes, toys and chews. Cats benefit from scratching posts and kitty towers as well as toys. Each of these can cost from $20 to $200 a year.
Annual checkups. Most pets need annual check-ups including vaccinations. These can run from $50 to $300, depending on the vaccinations and treatments required, such as heartworm shots for dogs.
Dental care. Some time in a pet’s life, they will need dental work or dental extractions. These procedures are not cheap and can run $100 to $300.
Illness. Even if you have a healthy pet, as they age, pets will require more expensive procedures. I had a cat who had a thyroid problem; she had to have regular medication that cost us $20 a month. Other pets can suffer from chronic skin problems or other diseases and require monthly medication.
Care. You will likely take a vacation several times during your pet’s life and will need to pay someone to watch and care for your animal whether that is someone who comes into your house or somewhere you take the pet. Depending on how often you vacation and how long you are gone, each time you need care, you can expect to pay $75 to $500.
Grooming. Some breeds of dogs do require professional grooming or their coats will simply be matted fur. Cats may need their nails clipped at the vet. You could pay $5 to $75 for these services each time.
While most people enjoy having pets, they are expensive. If you are in debt, most likely one of two things will happen if you own a pet. If you don’t want to spend the money, your pet may not get the care and treatment he truly needs such as regular check-ups or medication that is needed to treat a chronic condition. Alternatively, you may take good care of your pet and pay all of the required expenses, but that can add up to several hundred dollars a year, which could have been money that was spent on lowering your overall consumer debt. The responsible move is to delay owning a pet until your consumer debt is paid off. Both you and your pet will be glad you waited.
I’ve resisted getting a pet for years after the last one died, instead using a surrogate pet for my fur-petting whimsies. I have a roomie, and he would get the cat.. then he would have to go to work, leaving me with a feline so I would be the ‘aunt’ of the pet.
I think that the expense of getting a pet should be weighed with the joy of waking up with claws in your arm. 🙂
I’m in the same boat as you. I absolutely love dogs and really want one, but I’m working to get out of debt and cut all non-essential spending. I can’t afford the extra expenses just to have a cute companion. It gives me more motivation to become debt free, so I can afford a pet in the future!
I’m not sure I agree with all of this. As with most things in life, you have to make the decision around whether or not you can actually afford it, but I tend to make decisions that will enhance the quality of my life and my pet certainly makes it worth it.
If you don’t have money put aside for the above-mentioned expenses then it’s probably not a great idea. But if you can afford it based on your income and other responsibilities then it shouldn’t be an issue. Even if you have debt.
I do happen to have a large Malamute and she doesn’t cost me as much as what’s listed here.
Toys-She does just fine with the 1 toy she’s had since a puppy- a Kong which we fill with peanut butter on rare occasion. Other than that she runs around with it happily for most of the evening.
Licensing- The cost where I am (DC Metro) is $23 a year. Less if you’re spayed or neutered.
Grooming-If you know Malamautes then you know they shed every April and October. But we have never taken her in to get groomed. I have my own shears that I used to shave her down Lion King style last summer. Otherwise, when she visits the vet for a checkup they cut her nails for free
Checkups-These can run a bit depending on what’s going on but they’ve been no more than $200 a year.
Care-We have a few friends that love watching her so this hasn’t been an issue. When we have paid to have someone watch her it’s been around $250 for a week. That doesn’t happen often as we don’t take many vacations where she doesn’t come along. But this happens once a year.
Food-$50 a month but that’s negligible for the experience of having her around 🙂 We also feed her rice and ground turkey with chicken broth so that’s a good money saving option as well when we’re unable to get her pet food.
Health Issues-I agree that this can get expensive. Been there done that with my cats who are no longer with us. This is what I think one should be prepared for in the event something happens but this is where pet health insurance comes in.
I don’t agree that we have to make decisions like this solely about money. But there are people who do and that’s OK. I have one life to live and having debt won’t stop me from living it. I think having a pet has really enriched my life and she’s truly a part of my family,- so this decision is very different for everyone.
I should also add that finding a good and cost effective vet is important. When Maya was a puppy we took her to a vet that cost $150 per visit if something was wrong. But now we have a vet that charges $50 per visit and that’s great! Like anything else you have to shop around and make sure that market prices fit in your budget and this definitely does.
As you can probably tell I really love my dog and the costs laid out above wouldn’t prevent me from doing it all over again 🙂 Her personality is one of a kind and whether we’re wrestling, playing hide and seek or running around at the dog park, it’s worth it.
I had a cat for years and we really loved having it around. However after we went through a couple medical procedures and had to take it to a dentist in Vernon Hills that was our last straw. It was costing us more in medical bills than our children were. I suggest making the decision based on your financial needs more than your wants.