The Cost of Owning a Pet

Don’t let those puppy dog eyes fool you; owning a pet can be expensive. And before you adopt dogs or cats from your local shelter or rescue, you should first consider the long-term costs of raising them. Between medical exams, pet insurance, food and treats (never forget the treats), the costs of owning a cat or dog can add up.

Before you take the plunge into pet ownership, make sure your budget is ready to handle this kind of commitment. You may think of your finances as the cat’s meow, but a pet adds a whole new set of responsibilities to your plate. After all, this is not like buying new granite countertops or a love seat. Bringing a pet into your family comes with regular expenses.

So before you pick out which pet is right for you, ask yourself if you’re financially ready to be a pet owner. Using information from The American Society for the Prevention of Cruelty to Animals®, we’ve come up with a handy graphic for displaying the initial and ongoing costs of having a furry friend in your home.

It’s easy to get caught up in the excitement of owning a four-legged friend, but don’t let this stop you from doing your due diligence. If you want to check out more things that you should be budgeting for (but probably aren’t), check out our top-10 list and get back on track financially!