How much does your pet cost each year?
Like re-enacting Michael Jackson’s autopsy for TV, pet ownership always seems like a better idea ahead of time.
Surely, getting a dog, for example, can provide lifelong companionship and loyalty, and one is surely a better investment than a cat, whose distant lack of personality might ultimately leave owners feeling cold (cue the cat defender comments below).
But that’s what a pet is, after all – an investment. Making the initial purchase is only a fraction of how your total costs will shape up, so we ask: how much do you pay for your pet each year?
MSN’s Liz Pulliam Weston has done a nice job detailing the economic perils of pet ownership in this piece, though one data set from the American Pet Products Association sticks out.
According to the group, U.S. pet ownership in 2010 broke down like so:
-- Food took up 38 per cent of a pet’s total cost
-- Vet care took up 27 per cent
-- Supplies and medicine took up 23 per cent
-- Grooming and boarding took up 7 per cent
-- Buying a pet took up just 5 per cent
Pretty sobering stats. Think about them for a second; if these same measures applied to, say, buying a car, the initial vehicle purchase (call it $25,000) would be dwarfed by what you’d be putting into it in gas ($190,000), maintenance ($135,000) and car washes ($35,000) annually.
That’s a crude comparison, yes – and, certainly, if applied to children (whose purchase price is often zero dollars, depending on how many Jäger bombs you may have had to buy on the night of conception) this evaluation would be even more remarkable – but it does well to highlight just how much of pet ownership, unlike most areas of consumerism, lies in the back end.
Presuming you’ve already purchased your dog, cat, bird, fish or otherwise, do the above percentages stack up to you? How much would you say is being spent on food, vet care and the like each year for your pet?
By Jason Buckland, MSN Money
Posted by: Josh | Jan 6, 2022 2:57:38 PM
Ahhh but a pet is also a dividend paying asset. In a world where we constantly seek entertainment and everything costs money a dog can SAVE you piles of dough. Instead of hitting matenay ($10) and then heading to a yoga class ($15) for excercise and destress I just take the dog for a nice long walk and come back with a calm mind and my exercise for the day. $25 saved on Friday alone. Oh she costs her fair share, but when you look at the hours of enjoyment she provides and the fact that you're motivated to get off the coach you actually come out ahead financially along with the companionship she provides.
Posted by: ALS | Jan 7, 2022 12:26:15 AM
I agree with Josh. Plus I can use the excuse "I can't go out because no one is looking after the dog at home". That alone can save money on going out to clubs for long periods of time and taking unplanned vacations. I find myself staying more at home and wanting to do more with my family rather then taking the extra effort to pay for a dog sitter or finding a friend that can watch him at the last moment.
Posted by: Richard | Jan 7, 2022 1:30:16 AM
Pet ownership costs (especially with dogs) also depends on the breed you choose. With all the sites available these days, it is relatively easy to choose a pet which suits your "budget" and/or may (long-term wise) be more economical than others, especially when dealing with food and vet costs. There's obviously a huge difference between what a 100 lb dog will consume compared to a 15 lb dog. Similarly, some dog breeds are more prone to eye/ear infections, hip/knee deterioration, etc. Grooming is also dependant on the breed (short vs. long hair) and boarding speaks to the owner's lifestyle. If you like to travel 6 months out of the year and can't take or afford to board your pet, maybe you shouldn't have one. Also, if you only see your pet 50% of the time, maybe the pet would be better off with another owner... one who will give it the time, caring, love and companionship it deserves. Quid Pro Quo Pets give so much and ask for so little.
Posted by: Fred | Jan 7, 2022 6:23:41 AM
Some people can manage their finances and have dogs and not care about the cost. I understand there are people who get dogs and have no clue how much they can cost--especially if you get one that needs costly operations. To me the thought of pet being too expensive is ridiculous--if you do your homework and utilize common sense it can be quite reasonable--I have an 8 year old poodle who eats hardly any food and goes to the vet every other year--costs nothing because I take good care of him. People who buy all that needless crap for a dog usually can't manage money in other areas of their life. If you said drinking at bars or leasing certain cars in canada is too expensive--that might be a worthy topic calling for an article. Why not show certain people how much money they are actually paying to drive that shiny car that they are leasing?
Posted by: Rachael | Jan 7, 2022 8:10:44 AM
All I can say is I am very very surprised at this article and its implications.
For starters I have three dogs and "no kids". Do you know how the costs compare???
I don't board them, and neither do I have all those costly medical and vet expenses that you mention. I "Chose" to provide my dogs with a healthy all natural diet (that I prepare for them). Do you know what that does? It sames tons of money.
I actually did the math for providing an all natural diet vs the crap in bags and cans and I can tell you, it's far more reasonable and healthy for them to purchase ingredients and do it yourself.
As far as other benefits - unconditional love, no backtalk, no clothes, school, etc. Since they need exercise, it keeps my husband and I in shape.
The problem with some pet owners is they become lazy, they no longer care for the dog. I know of a situation where some dogs had a concrete patio instead of a yard - no grass and one owner simply was too lazy to put them on leash and take them for a walk, even though this person did not have to work and simply chose to sit in front of the TV all day. The saddest part is besides the poor diet, the dogs were not healthy and some of them spent time in and out of the vets.
Far too often a vet is all too happy to prescribe a pill for a pet, only the side effects can cause other issues, which he's happy to address since he's now relying on that pet for steady income.
There are some decent vets and no, not all dogs are healthy and they do need a vet, just like we all need a doctor. But a proper diet and plenty of exercise goes a very long way.
What's the saying "prevention is worth a pound of cure" - that goes for pets and humans. Take care of them and take care of yourself.
I think Jason (who wrote this article) is clueless. I'm guessing he has no pets and loves his worldly possessions.
True pet owners put no value to their pets.
Jason, you will never know what it feels like to have that unconditional love beside you all the time. I'm sorry for you.
Posted by: Western Guy | Jan 7, 2022 10:42:52 AM
Wow Rachael that was harsh.
This is a forum that primarily discusses finances. As such discussing the cost of pets seems pretty reasonable. Many people seem to get into pet ownership without realizing the costs (both financially and timewise) and then the pet suffers. Articles like this can raise the awareness of people so that they understand the commitment they are starting.
So Rachael what exact immplications of the article surprised you? It is simply indicating that pets cost money to raise properly. I'm sure your "all natural" diet is wonderful but I'm also pretty sure it costs something in terms of time and money. Also with 3 dogs you probably have quite a few costs for leashes, grooming (even if you do it yourself you still need the clippers etc) not to mention that even the best trained dog will occasionally destroy something. Lastly as much as we wish it wasn't true, dogs will age and need vet services to extend their life / give them comfort. All of this costs $$$. I realize in your world that the love you receive greatly outweighs the money but regardless that the money is still a factor.
Personally we own 2 budgies right now. They are at all times fully supplied and have become well trained after several years of having a lot of time spent with them (fly over to us on command, can say a couple of words, often come and visit us wherever we are in the house, etc). I figure basic food is probably about $50 a year. Treats (millet, egg biscuit etc) probably run about another $50-$75. Toys run about $100 a year (this is decreasing now as we have gained a good supply of toys after a couple of years and can rotate them regularly now so it keeps them active). Also although they live together they each have separate spacious cages available (even budgies can squabble sometimes) with drop matts as well as small separate travel cages and we also keep cages at other residences for them so while that was a large upfront cost (around $600ish) there is little maintenance cost as the cages last years. Also they have vet trips each that run about $100 (general health, nails etc). Also we keep the cages stocked with cuttle bone, iodine, chewables etc for another $40 a year. All told I figure about $350 a year for 2 1.5 ounce budgies. Personally I think they are worth every dollar but I also understood going in that they would cost a lot to raise properly (yes I could do it cheaper but personally I believe that something that is my responsibility should be treated the best way possible).