The True Cost of a Pet Dog

I've written a lot on the cost of pets. In fact, I have a whole category devoted to pets here at Free Money Finance. It's an on-going debate on what the true cost of a pet is -- me pointing out how expensive it can be, others sharing their costly pet horror stories (mostly centered around expensive health care for the pet), and other's saying the true cost of a pet is much lower than the sources I quote.

Well, here's another article on the cost of owning a pet, this time from PetEducation.com. It's a reasonable and well-thought-out piece from some who (obviously) loves pets, but also wants to educate potential owners on how expensive they can be. The article gives low, medium, and high costs associated with owning a 50-pound  (mid-size) dog. It also breaks down the costs for year one, yearly costs after year one, and lifetime costs over a 14-year life span.

In summary, here are the total costs for a 50-pound dog throughout its 14-year lifetime:

• Low estimate: $4,242
• Medium estimate: $12,468
• High estimate: $38,905

They then qualifies these numbers, saying the costs could be much larger in reality:

And remember, this is the cost for a 50-pound dog that lives in the Midwest. It is not uncommon to see some of these numbers double or triple in places like New York, Los Angeles, Miami, and Dallas. Now granted most people do not end up spending $40,000 on their dog, but some spend a whole lot more. A dog with hip dysplasia or severe allergies can have significantly higher veterinary expenses and I routinely see people who spend over $2,000 on a single veterinary problem. Chances are your costs will be similar to those I incur, but even with the minimum required care, it is still over $13,000.

Yikes! If you live in an expensive city AND have an expensive pet, you could be talking the price of a college education for just one animal!

The piece ends with a sentiment that I share with the author:

Remember we own dogs because we love dogs. The money should not ever stop us from caring for or taking in a puppy that needs a home, but we have to be aware of the cost and our commitment to the animal. The animal's needs have to come first! This is so important I am going to say it again, The animal's needs have to come first! Lack of funds is no excuse for not providing adequate care for an animal. If we can not meet the needs of the animal or we are not fully committed to providing the time, energy, and finances that our dog needs then we should not bring that animal into our home, period, no excuses. It just is not fair to them.

This is exactly what I'm trying to do with my cost of pets posts -- show people what they are truly going to spend on their pet so they can make an intelligent decision about whether or not they are financially up for the task. Most people do not consider fully (if at all) the costs of owning a pet -- they tend to make more of an emotional decision when it comes to getting and selecting a pet -- and thus may be putting their finances at risk. Hopefully, the pet posts here at Free Money Finance will help people think about the financial commitment they're making and take it into account when they are deciding whether or not to get a pet.

Comments

[J Martin]

No doubt that owning a pet can be expensive. My cats are completely spoiled rotten, but they are very lovable and can help keep me sane on a bad day.

[Teresa]

Just wanted to show you the other side of dog ownership :)

Yearly rabies vax at vet to be legal: 10.00 (includes mini checkup)

Yearly cost of heartworm medicine from Australia where it's OTC: 40.00

Yearly cost of Solojec 7 from farm supply store: 7.00 (gets distemper, hepatitis (canine adenovirus type 1), canine adenovirus type 2, parainfluenza, parvovirus, leptospira canicola and leptospira icterohaemorrhagiae. )

Diamond Lamb & Rice kibble (doggy has corn issues): 25.00 per 40# bag so maybe 100.00 per year

Cost of a .22 bullet when my dog is no longer enjoying his life because he is physically incapable and I come to the realization that it is my responsibility to take care of it: 0.25 and the gasoline to drive out of the city limits.

You can easily treat your dog with the same homeopathic remedies you keep on hand for your kids and you. They don't need fancy treats, feed them vegetables from your hand. They can take baby aspirin for pain and benadryl for allergies. My dog gets bathed with the same soap I use on myself and the kid. Granted, there are some things that require a vet, but not most of the basic care for a dog and people are scared to do injections and things themselves.

Cost for my beagle over his 15 year life span: 2355.25. He's worth it.