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Puppy Ownership: Financial Costs, Tips & Advice

A puppy or a Peleton Bike: two things that you saw a lot of people invest in during the pandemic. Many of us had savings or discretionary income that wasn’t being used due to travel being restricted. The result: the pandemic puppy. While the addition of an animal can provide companionship, it doesn’t come without costs. On average, owning a dog can cost up to $5,000 annually. This blog will highlight the obvious costs of getting a pet, help you expect the unexpected and provide tips to save.


Meet Nash!

Nash is my puppy and he’s a 10-month-old golden retriever. As you look through the budget below, keep in mind that these costs will vary. For example, Nash is a pure bred, so the initial investment was much higher compared to if we had got him from a rescue or humane society. As well, if you have a smaller dog, there are certain expenses that might not apply to you or will be much lower, such as food.

These are just a few of the costs I’ve experienced – but there are many other expenses that may come up depending on your pet and your lifestyle. For most of this past year many of us have been working from home. However, in a typical year this may not be the case at which point you might need to consider pet care, which can cost up to $400 per month.

Obvious and hidden costs of getting a pet

A recent article by the Leader Post stated, many animal shelters have seen spikes in the demand and interest in pet adoptions. Another CBC article notes, “more than one third of Canadian households now have a dog, and 40 percent now have a cat.” With travel restricted and a lot more time being spent at home, many people opted to use the savings or discretionary income that was being saved for trips and invest it in a dog. I was one of these people.

On April 27th, 2020, I hopped on the pandemic puppy train when my dog Nash came into this world. I knew there would be costs that would come with it but I also wasn’t expecting some of the hidden costs of dog ownership.

In 2019, seven Canadians broke down their monthly spending and found, on average, a dog can cost up to $5,000 annually. Ranging from $14,000 on the high-end to $1,600 on the low end, these costs can vary depending on the type, size, and health of your dog, and didn’t include the initial investment.

To help you break down the costs I created a quick budget of all the obvious costs I’ve experienced.

Expect the Unexpected

They say bringing a puppy home is like bringing home a baby – they eat, sleep, poop, cry a lot, and get into everything – these are the costs I didn’t expect!

This has meant ripped apart throw pillows (too many to count), chewed up bed sheets and duvet, shoes, hats, gloves, rugs, and so many toys. On top of the cost of replacing or repairing these items, this can also lead to surprise vet visits. On average, a routine visit can cost between $200 to $400 for dogs and $90 to $200 to cats. When you factor in accidents or injuries, these tend to cost a variable amount more.

We’ve been lucky that despite everything Nash has gotten into, we haven’t had to make any surprise visits to the vet *knocks on wood*, but if we had, these are not expenses we would have been prepared for. Here are some tips I’ve learned along the way on how to save:

Start saving early

Unless it’s a spur of the moment decision, you often have a few months to prepare before bringing home your new pet – especially if it is from a breeder. For me and my partner, what worked well was setting up a separate savings account. Each month we would each put away $200. We knew the initial investment of bringing Nash home would be a lot, so this made that cost much more manageable.

Keep saving

Once you’ve started a savings account, keep it going. This is a great way to accumulate funds for those emergency situations and utilize compound interest.

Space out your purchases

There is a lot of planning that goes into the days, weeks or months leading up to bringing home your new pet. You need to buy food, beds, leashes, toys, and much more. One thing that worked well for me was spacing out my purchases. Over the 2-3 months leading up to bringing Nash home I would slowly start buying what he would need. This also helps the day you bring him home to not be nearly as overwhelming because you already have everything you need and you aren’t making costly impulse purchases at your nearest pet store.

Cut costs where you can

You’ve just brought home the newest member of your family and you want nothing but the best for them, right? There are certain items you’re going to want to splurge on, including food, bones, and treats. These are what will help keep your pet strong and healthy. But when it comes to toys or bed, you don’t necessarily need to buy the $25 chew toy. This was my lesson learned. We splurged on expensive toys in the beginning and I quickly found out that Nash will rip or chew a toy to shreds within 15 minutes, regardless of the price tag. If you’re looking for cheaper items, Dollarama has a great pet section.

A pet can be a great addition to any household – especially this past year when many of us were feeling isolated, lonely, and craving companionship. But it’s important to understand the costs and what you can afford. While some costs like food, basic vet care, and toys are a must, there are always options to accommodate any budget. Good luck with your new fur baby!