Many of us know that pets are a huge responsibility and require a large amount of our daily time to exercise, play, train, and entertain them. We’re happy to give them our time and lots of love. However, many paw parents don’t always foresee the larger-than-you-think financial responsibility of a new fur baby.
Just calculating basic care costs, bringing home a cat or small dog will run you about $800 a year. That doubles to over $2,000 if you’re a big-dog lover, and can easily add up to tens of thousands of dollars over a lifetime. Also, these numbers don’t include emergency medical services, which put 42% of millennial pet owners into debt.
We love our pets and want to give them the best life possible, and as a responsible pet parent you have to budget for your pet’s yearly care — including everything from food to adorable new beds and the potential for less-fun medical surprises. Follow the flowchart below to decide if you’re financially ready to adopt and check-out ways you can save money with your new best friend.