Pet parents are well aware that the cost of caring for their furry companions can quickly deplete savings. It’s not uncommon to spend hundreds or even thousands of dollars annually on pet care, but how do you know when the expenses become excessive? According to a GOBankingRates survey conducted from Oct. 12-16, 2023, involving 1,021 Americans aged 18 and older, 37% of pet owners reported spending less than $600 per year, while 35% said their expenses fell between $601 and $1,200. However, 8% disclosed spending over $2,000 on pet care annually.
You don’t need to exhaust your budget to ensure your pet receives the best care. Below are some signs you might be overspending on pet care, along with tips on how to cut costs:
- Soaring Vet Bills Veterinary care can be expensive, but most pet owners will spare no expense to keep their pets healthy. According to the 2021-2022 American Pet Products Association (APPA) National Pet Owners Survey, dog owners typically spent $700 on routine and surgical vet visits annually, while cat owners spent around $379. If your vet bills are higher than these averages, there are several ways to save.Ways to reduce costs:
- Shop around: Prices can vary significantly between veterinarians. Call different clinics and compare fees.
- Visit a veterinary school: These institutions often charge less for services since students perform procedures under professional supervision.
- Seek help from charities: Various national and local organizations provide financial assistance for pet medical bills.
- Pricey Grooming Services Basic grooming for dogs typically ranges from $30 to $90, with some breeds requiring more frequent or expensive services. Factors like location and the groomer’s expertise can also affect pricing.Ways to reduce costs:
- Do it yourself (DIY): Grooming your pet at home can save a significant amount of money.
- Find a more affordable groomer: Call around for quotes from different groomers in your area.
- Brush your pet regularly: This can help extend the time between grooming appointments.
- Costly Pet Insurance Pet insurance functions similarly to human health insurance. You pay monthly premiums and file claims for covered treatments, receiving reimbursement if approved. While pet insurance can reduce vet costs, the premiums can accumulate quickly.