The Financial Implications of Fluffy: Costs of Becoming a Pet Owner
Before you bring that adorable dog or cat home, make sure you can afford it over the long run. Here are some of the typical costs of pet ownership to consider first.
You are now subscribed
Your newsletter sign-up was successful
Want to add more newsletters?
Delivered daily
Kiplinger Today
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more delivered daily. Smart money moves start here.
Sent five days a week
Kiplinger A Step Ahead
Get practical help to make better financial decisions in your everyday life, from spending to savings on top deals.
Delivered daily
Kiplinger Closing Bell
Get today's biggest financial and investing headlines delivered to your inbox every day the U.S. stock market is open.
Sent twice a week
Kiplinger Adviser Intel
Financial pros across the country share best practices and fresh tactics to preserve and grow your wealth.
Delivered weekly
Kiplinger Tax Tips
Trim your federal and state tax bills with practical tax-planning and tax-cutting strategies.
Sent twice a week
Kiplinger Retirement Tips
Your twice-a-week guide to planning and enjoying a financially secure and richly rewarding retirement
Sent bimonthly.
Kiplinger Adviser Angle
Insights for advisers, wealth managers and other financial professionals.
Sent twice a week
Kiplinger Investing Weekly
Your twice-a-week roundup of promising stocks, funds, companies and industries you should consider, ones you should avoid, and why.
Sent weekly for six weeks
Kiplinger Invest for Retirement
Your step-by-step six-part series on how to invest for retirement, from devising a successful strategy to exactly which investments to choose.
Animals are just plain cute and can bring so much joy to your life, but like children, they are not cheap – especially if you care for your pet properly.
Whether you choose to adopt or buy a pet from a store or breeder, there are several costs to consider over the life of your pet. The first one being acquisition cost. You can adopt a dog for around $60 to over $200 depending on the shelter (this usually includes having them spayed/neutered and all their vaccines), but I have seen French bulldog puppies through breeders for $7,000. You would want to do your research on breeds and make sure you get a healthy pet.
I have been actively looking for a furry friend but after educating myself on the time commitments and costs involved, I must confess, I am thinking about revisiting this when I retire and have more time.
From just $107.88 $24.99 for Kiplinger Personal Finance
Become a smarter, better informed investor. Subscribe from just $107.88 $24.99, plus get up to 4 Special Issues
Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
There are so many advantages to having a pet. They can bring such unconditional love and companionship and of course all of the funny, cute things they do. The purpose of this article is not to turn you off from owning a pet but to guide you as to the resources you should have available for a long-term financial commitment.
A dog or cat can have a lifespan of over 15 years – this is almost like raising a child to college age. Many people adopt or buy animals and don’t factor this into their planning. What if I have a baby? What if my job forces me to relocate? What if pet restrictions make buying a condo or renting an apartment a problem for me in the future? I have seen so many sad stories of new babies being allergic to pets or people losing their jobs and having to surrender pets they can no longer afford to care for.
Some costs to think about are:
Food and toys
Food can be quite expensive, especially if you have a larger animal. Dog owners should plan on budgeting $120-$550 per year for food per pet, according to Petfinder, and for cat owners the estimate is only a smidgeon lower at $120-$500. I have friends who cook chicken and “people food” for their dogs. This can be as expensive as feeding another human.
Your pet may need some toys, a bed and possibly a crate for training. If you have a cat you may need to purchase something they can scratch. A couple of toys can easily be $50, dog bed $35, cat scratching post $30 or more depending on how fancy you want to get. And don’t forget the kitty litter, which could add up to $70-$150 per year, Petfinder reports.
Training costs and property destruction
Puppies like to chew and kittens like to scratch up furniture. This can be frustrating and costly, especially if the puppy ravages your expensive shoes. The average cost for dog training is about $50 per hour, but obedience training can run $200 to $600 per week. A private dog trainer can run up to $150 per hour.
Pet insurance
If your pet has known health issues based on their breed, it may make sense to either get pet insurance in advance or set aside cash for large vet bills. Pet insurance can range from as low as $10 per month to higher than $100 per month. Keep in mind many insurance companies will exclude “typical” conditions associated with a breed.
General liability insurance
Some condo associations require you have liability insurance if you have a pet in the event it bites or destroys property. This can increase your insurance costs. About 4.5 million people are bitten by dogs each year. If you own your home, your homeowners insurance policy often will cover dog bites – but it pays to verify. Some companies exclude covering certain breeds. In those cases, and if you are a renter, you should look into personal liability coverage and/or umbrella insurance.
A colleague informed me that her condo association requested an analysis of her dog’s poop, so that the culprit can be identified if the poop is not cleaned up!
Health care/vet bills
These costs can be a wild card depending on your pet. Keep in mind that if something serious comes up, a week in a veterinary hospital could mean a bill of $10,000 or more. With regular dental cleanings (easily $300 or more each time) and periodic vaccines, heartworm pills ($58-$159 per year) and flea and tick prevention ($150-$200 per year), even routine care adds up fast.
Grooming
This can cost up to $100 per visit depending on the size of the pet and your location.
Travel/pet sitting
If you travel frequently or work outside your home you will need to factor in the costs of someone taking care of your pet when you are away. Having a dog walker come by during the day can easily cost $20 depending on where you live. Doggy day care can be $25 per day and $40 for overnight. If you travel frequently these costs can add up quickly.
Future planning
Many people have trusts for their pets. Since your pet is likely part of the family, what if something happens to you? Do you have plans in place for the pet and the financial resources to provide for the pet after you are gone?
-
Dow Leads in Mixed Session on Amgen Earnings: Stock Market TodayThe rest of Wall Street struggled as Advanced Micro Devices earnings caused a chip-stock sell-off.
-
How to Watch the 2026 Winter Olympics Without OverpayingHere’s how to stream the 2026 Winter Olympics live, including low-cost viewing options, Peacock access and ways to catch your favorite athletes and events from anywhere.
-
Here’s How to Stream the Super Bowl for LessWe'll show you the least expensive ways to stream football's biggest event.
-
How to Add a Pet Trust to Your Estate Plan: Don't Leave Your Best Friend to ChanceAdding a pet trust to your estate plan can ensure your pets are properly looked after when you're no longer able to care for them. This is how to go about it.
-
Want to Avoid Leaving Chaos in Your Wake? Don't Leave Behind an Outdated Estate PlanAn outdated or incomplete estate plan could cause confusion for those handling your affairs at a difficult time. This guide highlights what to update and when.
-
I'm a Financial Adviser: This Is Why I Became an Advocate for Fee-Only Financial AdviceCan financial advisers who earn commissions on product sales give clients the best advice? For one professional, changing track was the clear choice.
-
I Met With 100-Plus Advisers to Develop This Road Map for Adopting AIFor financial advisers eager to embrace AI but unsure where to start, this road map will help you integrate the right tools and safeguards into your work.
-
The Referral Revolution: How to Grow Your Business With TrustYou can attract ideal clients by focusing on value and leveraging your current relationships to create a referral-based practice.
-
This Is How You Can Land a Job You'll Love"Work How You Are Wired" leads job seekers on a journey of self-discovery that could help them snag the job of their dreams.
-
65 or Older? Cut Your Tax Bill Before the Clock Runs OutThanks to the OBBBA, you may be able to trim your tax bill by as much as $14,000. But you'll need to act soon, as not all of the provisions are permanent.
-
The Key to a Successful Transition When Selling Your Business: Start the Process Sooner Than You Think You Need ToWay before selling your business, you can align tax strategy, estate planning, family priorities and investment decisions to create flexibility.
