The cost of pet ownership

1 min read

Editor’s note: This is a transcript of the audio file.

Looking to buy a pet this year? Before you commit, make sure you know the real cost of that cute face.

I’m Clark Palmer with your Personal Finance Minute.

Nearly two-thirds of U.S. Households own a pet. Depending upon the health, age, and average lifespan of a breed, the price of owning a pet can vary.

Between buying expensive food, visits to the vet, flea prevention, and toys, dogs can cost you nearly $900 a year.

While people say cats are more self-sufficient, that doesn’t mean they cost too much less. Cat products normally cost less than dog products would, but the overall cost for a cat can be almost $700 a year.

Fish are the most inexpensive pet, costing only $35 a year. No vet visits or expensive toys to buy can save you money.

Regardless of the cost, most of us find our pets to be worth the money spent, but make sure you know the true cost before taking a pet home with you.

For more information on how much an animal can cost your family, visit I’m Clark Palmer.