Infographic: Paying for Pets

 
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Can you afford a pet?

A pet’s companionship is priceless, but its expenses add up fast. Like walking the dog or scooping out the litter box, budgeting is a part of basic pet care.

Pet Ownership Stats

  • 68% of US households own a pet. That equates to 89 million dogs and 94 million cats.
  • More than half of millennial pet owners buy gifts for their pets once a month or more.
  • There are now more pet-owning households than households with children.

Pet Expenses

Basic Pet Care

  • Food
  • Food and Water Dishes
  • Pet Bed
  • Toys and Treats
  • Collar and Leash
  • Travel Crate

First-Year Expenses

  • Adoption Fee
  • Pet License
  • Medical Exam
  • Vaccination
  • Surgery

Living Space

  • Pet Deposit
  • Pet Furniture
  • Gates
  • Fencing
  • Clothing Repair
  • Furniture Damage
  • “Accidents”

Medical Expenses

  • Veterinarian
  • Medical Emergency
  • Pet Insurance
  • Dental Care
  • Ear Care
  • Medication
  • Allergies

Pet Services

  • Grooming
  • Training
  • Dog Walkers
  • Pet Sitters
  • Kennels

Budgeting for Pet Care

Preparing for a pet is like budgeting for any significant milestone: preparation is key.

Set money aside monthly

Estimate your monthly pet expenses (you can use the expenses listed in the section above as a starting point—make sure you factor in annual expenses as well). Budget for that amount as you would a monthly bill.

Create a pet emergency fund

Pet owners are likely to incur at least one $2,000–$4,000 bill for emergency care at some point in their pet’s lifetime. Create a separate fund for pet-related emergencies to protect your personal savings goals.


Sources: American Pet Products Association, American Veterinary Medical Association, Money Under 30, New York Times, Statista