9 Out Of 10 Dog Owners Are Financially Stressed
Nothing beats coming home after a long day and having your pooch greet you right at the door. Even at your worst, your best friend will still bring you much love, happiness, and joy.
But owning one definitely comes with its share of responsibilities. You must budget for a few things each year, from food to vet appointments, to keep your fur baby in good health.
That said, many dog owners are feeling the pinch. Recent surveys say a whopping 91% of them are struggling to keep up with their dogs’ expenses.
Let’s learn why pet ownership has become so expensive in recent years and how to care for your dog without breaking the bank.
The Rising Costs Of Owning A Dog
Dog ownership has also become a lot more expensive since the pandemic.
To give you some perspective, let’s take the two most basic expenses: food and vet care. Dog food prices have shot up by 25% since 2022, and vet care has increased by 11%.
It may not seem like a lot at first glance, especially if you have a healthy breed. But if your dog needs special food, extra medical care, or regular grooming sessions, you might need to shell out hundreds more than before just to keep up with the basics.
Many owners are feeling this struggle firsthand. Some have reported taking second jobs, going into debt, or even going without their basic necessities just so their dog can have enough to eat.
In extreme cases, some families might even abandon their pets altogether. Shelters have recently begun to overflow with unwanted pets because many owners simply cannot afford to care for them anymore.
How To Better Manage Your Dog’s Expenses
We know handling your dog’s needs takes a lot of work as costs keep rising. But don’t lose hope. With some planning, you can keep your pet’s expenses low while giving them everything they need. Here are a few tips to help you out:
Look Into Pet Insurance
A good pet health insurance gives you some breathing room when dealing with vet costs. Most policies cover accidents, diseases, and routine care. As long as you pay your premium each, you won’t need to shell out thousands when a medical emergency arises. Don’t forget to research different insurance companies to find one that suits your dog’s needs.
Prevention Is Better Than Finding A Cure
Keeping your dog healthy is cheaper than paying their medical bills later. Be a hands-on parent and stay on top of their vaccinations, dental care, and check-ups. Also, ensure you take your pet out for regular walks and feed them a breed-specific diet that keeps them strong for years.
Budget Ahead Of Time
Making a budget for your pet’s general expenses helps you plan and set aside some money ahead of time. Start by listing all potential costs, including food, grooming, vet visits, or doggy daycare. From there, put away a fixed monthly amount to cover these expenses. The more you stick to your budget, the less likely you’ll be caught off guard by random costs.
Create A Separate Account For Your Pet’s Needs
Want to make saving for your dog even easier? A dedicated savings account can help you do this and ensure you don’t dip into your regular savings. Some banks even have an option to automatically take money from your main account on a set date each month, so you don’t forget!
The Bottom Line
Owning a dog can enrich your life in so many ways. But it’s also a big financial responsibility that could cause you to get into financial trouble if you aren’t careful.
Remember to plan your finances and pooch’s needs ahead of time, especially with rising costs. This way, you can give your furry friend everything they need and focus on enjoying their companionship for years.
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