Are Pets Really that Expensive?

For some reason, people seem to think I'm making up the costs associated with having pets. But I'm quoting sources like the SPCA, pet stores, and the like -- organizations that are pro-pet and have no interest in making owning a pet seem expensive. All I'm doing is quoting the experts in trying to set a guideline for people who are considering how much a pet will cost them.

But, somehow, most people seem to think they spend nowhere near the averages quoted by the experts. So either Free Money Finance readers simply have cheap pets or they aren't following their costs very closely.

There were several quotes on my recent post titled Annual Costs of Pets worth sharing with everyone. Here's the first -- who says that his cat is worth $10k:

My cat is definitely worth the 10 grand or so just for the enjoyment and stress relief that she adds to our life. Up to this point, I don't know if I am paying that much per year (other than her first year when she needed extra shots and to get spade), but I am sure that as she gets older she'll get more expensive. She's also just a little kitty; her best friend (my mother's cat) weighs more than twice what she does.

Then the "I don't pay anywhere near that much" comments started:

I still don't get it. I have a big dog and a small dog, and they cost nowhere near this amount, even though they get premium food ($30 per month) and regular vet checkups (about $300 total yearly).

That's about a dollar a day even if you factor in the one-time cost of a leather collar ($16 each).

No "gifts?" No treats? No medicines? (fleas and ticks) No bedding? No kennel/sitting costs? And on and on. You can see where it could add up.

The next commenter had a similar experience:

I have 2 cats (large but not fat, 13 & 17 pounds each), and their annual cost is about $300 total. Annual vet visits $50 each, one large bag of cat food - $12/month, and litter - $6/month. I think where people over spend are the cat toys, or cat towers (they like cardboard boxes just as well), and other non-essential things. Like Blaine said above, there were extra costs when I first got them, but on going is nowhere near $640 per cat.

IIRC haven't there been studies that have shown people with pets are healthier and live longer? Would the savings in medical costs offset the cost of the pet?

That's a GREAT question!!!!! Anyone seen any scientific studies/evidence that shows owning a pet lowers medical costs? If so, you could almost look at owning a pet as medicine -- one that saved you a ton of money during the pet's life.

Next, someone who sees where the high costs could come from commented:

I think they're counting things like either:

A) obedience training, or
B) buying new shoes.

We've had to spend several hundred extra dollars this year to add to our home improvement projects to prevent our dog from doing things like destroying the garden or clawing holes in the screen of our porch.

Yep. No one ever thinks of those sorts of costs. Several hundred dollars, huh? Yikes!

Here's a comment from a person who says smaller isn't always cheaper:

Smaller isn't always cheaper, if you commit to taking care of your pet's medical needs. Ever take a bird to the vet for just a checkup and routine lab work? Yikes! There goes one-third to one-half of the annual bill for the cat! Guinea pigs, chinchillas, ferrets, and other exotics can run up the bills real fast, too. Furthermore, small pets need to be seen by a vet who specializes in exotics. Before buying an exotic, call around to see who the local specialists are, and ask them what the typical office visit will cost. You may decide to go rescue a kitty from the animal shelter after all!

Of course, I didn't intend to be a guinea pig owner until I found a baby guinea pig, frightened and all alone, on a country road and took him home. But now that I have him, and adopted another from a shelter as a companion for him, both of my piggie boys will get proper care.

Don't get me started on the costs of a python or a baby alligator!

Then finally, someone gets to the essence of what I'm trying to accomplish with these posts:

Even if the figures are somewhat off, I think it's really helpful for shelters to give out guidelines about how much an animal costs. A lot of people just assume that they can do it on the cheap and be lazy (ie buy the cheapest food, never change the aquarium water, keep the dog outside all the time) but this makes the animal sick and unhappy. If you balk at $600 a year for a cat, where else are you going to cut corners in its care? You are just as financially responsible for pets as you are for children, if not more so because the state or your relatives will take care of abandoned children, but abandoned dogs get put to sleep.

That's what I should have said at the beginning. ;-)

Finally, we end with another commenter who can see where the high costs of pets come from:

To [those] who don't understand these costs...if all you ever have to do for your pet is take them in for an annual exam, count yourself lucky. The costs quoted factor in:

shots and spay/neuter as a puppy; a lifetime worth of food, toys, obedience training, treats. AND the additional costs of medical for aging pets.

Heck, I rescued an abandoned puppy 9 years ago. She is just recovering from her FOURTH MAJOR SURGERY. Cost of each one? About $4000. Yet would you suggest I put her down because of a torn ligament or broken bone?

If you are not spending that projected cost for you pets (yet), save it away. As your pet ages, the costs will increase.

Yep, you read that right -- four surgeries at $4k each. In other words, $16k. That's a new car. See what I mean.

Comments

[Tom]

www.petinsurance.com

I can't take credit for this site. Another blogger has it mentioned for his puppy. We ran the numbers yesterday for our three pets (2 cats, 1 dog) and it would be just under $1000/year for all three, which would include EVERYTHING (including basic checkups/shots/heartworm/flea and tick).

All it would take is one accident and the insurance would pay for itself!

[Lord]

Of course the real issue isn't the cost. They will cost what you are willing to spend. The real issue is the value, and that is well near priceless.

[Rhea]

I was surprised to hear how much pets supposedly cost their owners and then I stopped and thought about what I spend on the puppy I got last summer. You're right! It's incredible! But, you know, it's worth it. A good pet can take the place of lots of therapy.