So many households have pets. Many of them never actually understand that a pet is a significant financial investment.

If you are considering adding a pet to your household, make sure that you can afford it first. Roughly fifteen percent of pet owners admit to spending over $100 a month on their pets, and the annual cost can range from $800-$2000 and up. That doesn’t even include the cost of the pet itself.

When you are setting up your monthly budget, you need to make sure that you have a column for your furry little friend. You have to consider the cost of food, treats, feal medications, heartworm medications, and yearly vaccines and checkups. You have to even account for some type of emergency that could occur, so setting up a savings just for those types of emergencies might be ideal.

You have to try to understand the actual cost of the animal because the setup cost is just the start. You have to consider what you will spend upfront. That does not include some of the basics like a leash, collar, and toys. Depending on the age of the dog, the first month’s food might be different, and if you get a puppy, you will need to make sure you get all the vaccines the puppy will need.

Have you taken into account what you will do when you go on vacation? Will you take the dog, board them, or leave them with family? Boarding can get very expensive, but now there are apps like rover.com that can help cut some of those costs, and they stay with someone over staying in a boarding facility.

One thing to also make sure of is if you have a procedure scheduled, make sure to schedule it first thing in the morning. You don’t have to want to have to accrue an overnight stay expense because you didn’t want to get up early. If there is medication involved, make sure to check out GoodRx or LowestMed because they all are very competitive on price.

Lastly, bathing your pet and brushing their fur and teeth regularly can do a lot to help keep them healthy. They are cheap things you can provide, and they save you money in the short term. Even going as far as to trim your pets hair in between groomings can help lower cost. You can quickly go into a grooming appointment for your pet and pay more on their hair than your own.

So if you want to bring a pet into the family, make sure you can pay those expenses.