Smart Ways to Save on Your Pet Care from a Financial Advisor

Love should be free, but caring for a dog can be a costly affair. According to Forbes, dog owners spend an average of over $900 annually on their pets. And don't overlook the expenses for cats—cat owners spend over $650 each year on their feline friends, according to Forbes.

Even though your pet means the world to you, these tips can help you save a significant amount of money.

Store Your Pet Food Properly

After veterinary expenses, food is often the biggest cost for pet owners, with dog and cat households spending over $300 a year on food, according to Forbes. Since pet food can spoil just like human food, proper storage is essential. Here are some general tips from the FDA:

• Store dry and canned food in a cool, dry place that stays below 80°F.

• When moving dry food to a new container, keep it in the original bag instead of pouring it out.

• Ensure the container is clean, dry, and has a well-fitting lid. Wash it between uses.

Feed the Right Amount of Food

The Association for Pet Obesity Prevention says more than half of US dogs and cats are overweight. Overfeeding might be the culprit, leading to increased food costs and potential health problems that result in hefty vet bills.

During your next vet visit, ask for advice on the appropriate amount of food for your pet. Make it a habit to measure out that exact amount for each meal. This practice can help keep both your pet and your budget healthier.

Brush Their Teeth

According to VCA Animal Hospitals, over 66% of dogs and 50% of cats over age 3 have periodontal disease. Dental treatment costs can range from a few hundred dollars for a cleaning to several thousand for procedures like tooth extractions, according to Forbes.

However, you can potentially avoid these expenses by brushing your pet's teeth daily, or at least three times a week, as recommended by VCA Animal Hospitals. Establish a routine by brushing their teeth right after you brush your own.

Shop Around for Meds

Medication prices can vary significantly depending on where you purchase them, much like human prescriptions. While it may be convenient to buy directly from your vet, shopping around could save you money. An online search can help you find multiple reputable sellers, possibly including pharmacies you already use for your own medications.

Groom At Home

Dog grooming can be expensive, with average prices ranging from $40 to $75 per session, according to HomeGuide. If your dog gets groomed every six weeks, you could spend up to $650 a year.

Save money by learning to groom your dog at home. Invest in a grooming kit with shears and clippers, which costs about $30, and watch dog-grooming tutorials online. If you'd rather avoid the mess, consider using self-service grooming facilities in your area, which typically charge between $11 and $23 per visit.

Find a Pet-Sitting Partner

Boarding your pets can make vacations costly, with fees around $40 per night. Boarding one animal for a week can cost nearly $300, and over $500 for two, according to HomeGuide.

A budget-friendly alternative is to trade pet-sitting duties with a friend or relative. They take care of your pets when you're away, and you return the favor.

You can also find a pet-sitting partner on local message boards. Arrange a playdate to ensure your pets get along.

Research Pet Insurance Thoroughly

Pet insurance involves paying a monthly premium, with the insurance company reimbursing you for eligible expenses above your deductible. Before purchasing, consider:

• The cost of pet insurance.

• Exactly what is and isn’t covered, including any caveats.

• Potential savings. Talk to other pet owners with and without insurance about their annual health costs.

• Whether common procedures like neutering or spaying are covered.

According to Forbes, the average cost for a health insurance plan with unlimited annual coverage, a $250 deductible, and 80% reimbursement is $68 a month for a dog and $40 a month for a cat. Insurance plans vary, so clarify any uncertainties with the issuing company before committing.

Bottom Line

Caring for your beloved pet doesn't have to break the bank. By following these practical tips you can significantly reduce your expenses while ensuring your pet stays healthy and happy. Your furry friend deserves the best care, and with these strategies, you can provide it without straining your budget.

Sources:
https://www.fidelity.com/learning-center/smart-money/how-to-save-money-on-pet-costs

Disclosures:

This information is an overview and should not be considered as specific guidance or recommendations for any individual or business.

This material is provided as a courtesy and for educational purposes only. Please consult your investment professional, legal or tax advisor for specific information pertaining to your situation.

These are the views of the author, not the named Representative or Advisory Services Network, LLC, and should not be construed as investment advice. Neither the named Representative nor Advisory Services Network, LLC gives tax or legal advice. All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. Please consult your Financial Advisor for further information.