4 Ways To Financially Prepare To Get a Pet

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There’s nothing like the pitter-patter of little (or not so little) paws to bring delight into any pet lover’s life. Regardless of whether or not you’ve picked a team when it comes to Team Dog vs. Team Cat, decided that you’re actually Team Both, or have devoted your heart to another kind of furry, feathered, or even scaly friend — pets are a source of great joy.

They also require a lot of investment. Not only time, but also money. Pet ownership comes with its fair share of financial requirements, from the vet bills to regular food and grooming. More exotic pets like birds and reptiles will also come with unique concerns and payments. 

To help you determine when you’re ready to open your home, your heart, and your wallet to a new member of the family, GOBankingRates has some information about the financial obligations of becoming a pet owner.

Budget for Adoption Fees

If you’re able to adopt instead of shop for a pet, you’ll be saving more than one life — not only the pooch or kitty you’re taking home with you, but the animal who can now come into rescue because of the space that has been freed up. 

Whether you adopt from a rescue or a shelter, you will likely need to pay adoption fees that help cover the cost of running these vital organizations. Adoption fees can vary wildly, depending on factors like the breed and age of the pets, as well as the needs of the organization.

For a breed-specific rescue like Cocker Spaniel Adoption Center in Maryland, adoption fees for puppies are $500 while the fee for a senior dog aged 9 and up is only $250. However, at Baltimore Animal Rescue & Care Shelter (BARCS), adoption packages run between $75 and $110. There are also special programs that help waive adoption fees for senior pets, pets that are pair-bonded, and pets with special needs. 

The good news is that BARCS is far from the only shelter that offers special discounted adoptions, so search around to see if the organization you want to adopt from has a similar arrangement.

Prepare for Pet Deposits and Monthly Fees

If you’re renting an apartment or home, you’ll likely have to pay an initial pet deposit to bring your new friend home, with monthly fees to follow.

According to Avail, which is part of the Realtor.com network, you should prepare to spend anywhere between $100 and $600 on an initial pet deposit. 

Invest in Training 

One of the joys of having a dog is that you get to bring them out in public more often. Making sure Fido knows how to act in public is, correspondingly, one of the biggest responsibilities of having a dog. According to The Dog People, there is a wide range of fees for dog training, with costs reaching $125, $175, or even $400 an hour for private training in cities like San Francisco and New York. Fortunately, group training options are much less expensive. A six-week training class at PetSmart runs about $119, and there are other classes from private trainers available.

Save for Basic Veterinary Care 

Veterinary care is one of the most common costs associated with having a pet. While it can be difficult to pin down an exact amount you’ll need to budget for, depending on your pet’s age and propensity for getting into mischief, The Dog People estimated that your range should be between $275 and $435. 

Not to leave your feline friends behind, The Dog People also took a look at the common vet fees for cat parents as well, determining a range between $105 and $130 for an annual check-up.

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