Everyone is getting on the pet band wagon, these days. Pets are in the news routinely. Our local news, all stations that I've watched, feature an adoptable dog or cat at least once a week. I applaud them. It's wonderful to see folks gush over a cute dog on TV and offer it for adoption from a local shelter. And cats, they need our help the most, I think. Fewer cats get adopted than dogs.
Just last week I received an email from Jonathan at the American Institute of CPAs. About pets. About the cost of pets. And a survey they conducted about the cost of pets.
How interesting! In my exploration of the human-animal bond, I have to admit, I've only given the cost of having pets a cursory mention, here and there. I know the cost. Our local shelter actually asks folks what they think the yearly cost of having a pet is, and I always answer $1500. The survey mentioned here discovered the yearly cost is around $1560. Ha! I was so close! And, that's just what we spend on "routine care", which the survey indicates includes: feeding, grooming, and scheduled visits to the vet.
I'm not really happy with their overall tone, to be honest.
First, who doesn't know how much it costs to have a pet? I know. I always adopt older pets and expect to pay for the cost of illness or old age. It's not easy. Vet bills can cripple you, indeed. It's why we're down to one pet, at this time. We just can't afford another one, yet. Still, to adopt a pet means to bring a warm, loving creature into your home for... a lifetime. The pet's lifetime. It could be one year, it could be 15 years (or more, with some pets.) In that time, there will surely be times when the pet needs vet care beyond the yearly visit. IMBO, the bond you have with that pet demands you use whatever means you can to take care of those vet bills, and bring that pet home to live a longer, happier life.
Here's the sentence in the press release that annoys me,
"When you consider that more than half of Americans have less than $1,000 in their savings (according to a recent GoBankingRates survey), it’s clear that some pet owners are sacrificing their own financial goals to cover their pet costs."
Maybe I shouldn't be annoyed by that sentence. We do sacrifice our financial goals, sometimes. Like human children, pets can require unexpected expenses and when that happens, we need to take care of it and not just walk away!
How easy is it for me to say? Easy. I'm committed to the care of my Emily. But, I know the anguish of a sick pet that you cannot afford to spend on. I know the awful heartbreak of not having the cash to get your pet cared for. I do not say this lightly - that our pets deserve every penny we have, to keep them happy and healthy. And, I do not judge those who cannot do what needs doing. In my childhood. we had little money to spend on doctors. And hence, we children rarely went to the doctor. Whatever sickness or injury we suffered, was treated at home. So, it happens. I know.
In the survey from the AICPA, considering emergency expenses "...three-quarters of American pet owners (76 percent) said they would make financial sacrifices to pay for it. Four-out-of-five (79 percent) shared that they would stop eating at restaurants and two-thirds (67 percent) would give up their vacation to pay for pet related expenses if they were in a difficult financial situation."
Stop eating at restaurants? Give up your vacation? Those are two ways to support an injured or sick pet, I guess. I would do both... and have. But, isn't it better, doesn't the human-animal bond require us to be more prepared? Is that too much to ask? We have a larger savings than most, and it's precisely because I want to be prepared for illness - my own, my spouses, or my pet's.
And that's truly what the survey was about. Planning ahead for contingencies.
I wholly approve of their advice. Here's a bulleted list to consider:
- Be honest with yourself financially – If you are struggling to pay off your student loans and have credit debt piling up, does it really make financial sense to get a pet? Pets are great but they are meant to help relieve stress, not add to it due to financial difficulties.
- Do your research – Though the cost of routine care may be predictable, it varies widely from animal to animal, and even from breed to breed, across the full spectrum of family pets. Know ahead of time the probable cost of care that will come with your companion.
- Make a budget: “pre-pet” & “post-pet” – Include all related expenses, i.e. food, treats, leash, crates – including tank for fish, lizards, etc.—toys, vet visits, grooming and other services such as boarding and day care. If your pet will require a habitat powered by electricity, be sure to factor in the impact it will have on your utilities bill.
- Be prepared – If you’re worried about unforeseen costs, use an emergency savings calculator to help you regularly set aside funds, or consider getting pet insurance.
- Buy in Bulk – Items such as food, treats and preventive medicine can be purchased in bulk, reducing the overall cost per unit.
How do you plan ahead? What would you do for your pet? Is it worthwhile to share this kind of content? Am I going out on a limb to think it's all part of the human-animal bond and the service we do for creatures other than ourselves?
Share your thoughts in the comments. And, what do you wish I'd write more about?
Thanks go to Jonathan for sending me the content. Visit 360finlit.org for more advice.
emily they would go bad in the mail... sorry girl. You are cute. Our dogs have always cost us a mint.
Milo's shoulder surgery to repair torn ligaments under his shoulder, cost $5000 and he was 5 months old. Then repeated check ups, PT, braces, and then all the other stuff. Whatever. He's our son.
LeeAnna
Posted by: LeeAnna Paylor | December 26, 2017 at 09:00 PM