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How Having a Pet Affects Your Finances

How Having a Pet Affects Your FinancesPet owners will be happy to tell you all of the reasons why having a pet is a great idea. After all, pets bring increased happiness and companionship to people’s lives every single day. But just like children, having pets isn’t free. In fact, it can even get pretty expensive. Generally, when someone decides to purchase or adopt a pet they only think of the initial cost. Whether they pay a high price for a specific breed for an animal that’s registered, or just go to the local pet shelter and picking out a pet to present with a happier life., there are a lot of other factors to consider before making the decision to add a four legged family member., Especially when you take into consideration how having a pet will affect your finances.

Is Adding a Pet to Your Family Financially Responsible?

In some ways, deciding to own a pet should be taken as seriously as deciding to have children. A pet should be thought of as an addition to the family, and not a toy that can be returned or abandoned once the initial fun has worn off. Pets have needs that go beyond those of love and affection, everything from food and medical care to toys and grooming pets can end up costing a pretty penny. In order to make sure adding a pet to your family is financially responsible it’s important to consider you current financial standing and what extra costs you’ll be taking on.

What’s the Annual Average?

A good way to analyze whether or not you’re financially ready to take on a pet is to sit down and figure out what an annual average would be in order to give your animal the best life possible. Start with the first year, this will be the most expensive because you will need to get those initial one-time expenses (such as spaying or neutering, collars and leashes, training, etc.) taken care of. Add those fees to the normal purchases you’ll be making (food, treats, toys, medical exams, etc.) and you’ll find that the total reaches over a thousand dollars pretty quickly.

Unexpected Expenses

When considering all the ways that having a pet can affect your finances, it’s important to also take into consideration the unexpected costs that can pop up,  just like you would with a child or another family member. Pets have accidents, injuries, and illnesses and you need to account for any extra emergency funds that will be required in order for you to meet their needs.

Pets can add happiness and love to anyone’s life, however if you are not financially stable enough to take on the responsibility then they can also add a lot of stress. As tempting as it may be, don’t run out and purchase an animal on a whim. Take the time to do your research and double check your budget so that you can provide the best possible life for them, as well as yourself.

If you find yourself struggling with debt or would like to find out about becoming debt free, call DebtHelper.com at 800-920-2262, or visit @ www.debthelper.com.



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