Owning pets can enrich your home with joy and companionship, but it’s paramount to acknowledge their associated financial implications. Pet ownership doesn’t come cheap, with costs often continuing throughout the pet’s lifespan no matter what. However, cost-effective strategies are available to minimize these expenses.
The American Kennel Club reports varying annual costs for dog ownership, ranging from $14,480 to $93,520, which covers expenses like food, toys, beds, and routine veterinary check-ups, among others. Cats, on the other hand, have an average annual cost of about $634 or approximately $53 per month, as per the ASPCA. This estimate includes costs for cat food, healthcare, toys, and more.
Ponder over these 10 practical tips below to save money while taking care of your pets:
GET PET INSURANCE
Pet insurance can effectively mitigate costs pertaining to routine care, accidents, illnesses and other health issues. The average premium for a comprehensive pet insurance policy ranges from $30 to $50 a month, varying depending on factors like the pet’s age, species and breed. Prudent policy selection could thus drastically cut down your pet-related expenditures in the long run.
OPT FOR GENERIC PET FOOD
Shift to generic or store-brand pet food as an alternative to costly name brands. If your pet favors a specific food, search online for a lower-cost equivalent or check with your vet. This could potentially halve your pet food expenses. Ensure the food’s ingredient list still meets nutritional requirements, with meat as an ideal first ingredient and an absence of meat by-products and corn.
PURCHASE IN BULK
This strategy is especially beneficial for multiple pet owners. Buying larger quantities of pet food, treats or litter can afford significant savings while reducing shopping frequency. For instance, opting for a 35-pound bag of kibble over a 20-pound one, despite negligible price difference, ensures economic efficiency.
REGISTER IN A LOYALTY PROGRAM
Membership in loyalty programs can inform you about exclusive promotions, coupons or other discounts. Some noteworthy examples include the Chewy Autoship discount program and PETCO Pals Rewards.
STAY UPDATED ON VACCINATIONS AND PREVENTATIVE CARE
Investing in preventative care can actually save money over time. Regular veterinary visits for important treatments like heartworm or flea and tick prevention can circumvent costly emergency medical situations.
DIY PET CLOTHES
Pet clothes can often be pricey. To save money, consider crafting your pet’s outfits yourself using repurposed materials like old T-shirts. Even if sewing isn’t your strong suit, this is a fun project to attempt.
LIMIT USE OF PET SITTERS/WALKERS
Adjusting your schedule, waking up earlier or sharing pet care duties with friends and family can significantly reduce pet sitting or walking costs. Planning ahead in this regard can ensure financial savings.
CUT DOWN ON PET DAYCARE
Although pet daycare centers offer a lively environment for your pets, you can save a lot by simply socializing your pet yourself. Frequent visits to the dog park, especially for puppies, could largely replace the need for daycare.
RECYCLE FURNITURE TO MAKE PET BEDS
Engage your creativity to build snug spaces for your pet. Something as simple as turning an end table or chair into a pet bed can save a fortune usually spent on high-end pet furniture.
KEEP YOUR PET ACTIVE AND HEALTHY
The healthier your pet, the less you’ll spend on medical care. Proactive steps, like regular exercise, can reduce vet visits. Even for older pets, incorporate fun and unique ways to keep them active, such as a homemade obstacle course in your backyard or living room.
What are some tricks you employ to save money while caring for your pet?
