Why You Should Open a Savings Account for Pet Expenses Well Before Getting a Dog
Dogs bring lots of energy, fun and love to our lives. But, while getting a dog is an exciting thought, don’t be so blinded by excitement that you neglect to count the actual cost. Owning a dog is expensive and requires a lot of work. If you’re considering getting a pet, make sure you not only have sufficient funds to cover the expenses, but you are also willing to make the time and put in the effort to train and take care of them.
Expenses That Come With Owning a Dog
There’s a lot of prep work that goes into planning for a dog, which is why you should never rush into pet ownership. Improper planning can lead to the inability to take care of a dog. When you decide to get a pet, you should be prepared to have the pet for the rest of his or her life.
The costs of taking care of a dog can equal several thousand dollars monthly and vary by breed. Before you start visiting pet stores or adoption centers, consider these expenses:
- Leash & Collar
- Food & Water Bowls
- Food & Treats
- Grooming & Dental Care
- Vet Visits
- Training Classes & Tools
- Kennel/Crate & Bed
- Apartment Pet Deposits & Rent
These are just the basic things to consider in order to provide the bare minimum for your dog. Unforeseen expenses, such as emergency vet visits or replacing chewed up clothing or furniture, can arise at any time. Here are the pre-planning steps you should take to determine whether you can realistically afford a dog.
Review Your Budget
Look at your budget to determine what portion of your monthly income you can set aside for pet expenses. These funds should be separate from your normal savings. However, if it’s feasible, you may consider adjusting your savings to allow for greater pet savings.
Take Emergencies Into Account
Before getting a dog, consider what an unexpected vet bill could cost. What if your dog needs life-saving surgery or other treatment? It is not uncommon for veterinary bills to cost several thousand dollars. If you are not sure you can afford this expense, shop around for pet insurance to see how much it will cover.
Be Honest With Yourself
Dogs are full of energy and want to spend time with their owners. Take a look at your schedule to see how much time you spend at home vs. elsewhere. Do you have enough time in your day to give your dog the attention and affection they need? If not, are you willing to make adjustments to your schedule?
Additionally, are you willing to do what it takes to take care of your dog? Training them and picking up after them are not glamorous or fun. Be honest with yourself about the level of effort you are willing to put in.
Start Saving for Pet Expenses With a New Savings Account
If you want to get a dog but need to save for pet expenses, opening a new savings account at Clark County Credit Union can help. You can also use our variety of financial planning tools and resources from Banzai to help properly budget and plan for pet ownership. Contact us today at 702-228-2228 to start saving.