Owning a pet is not an impulse decision as many new pet owners who have gotten pets during the pandemic lockdown period have realised. This has resulted in a growing number of pets being abandoned or surrendered as owners struggle with the time and resources to care for them.
While we enjoy the company of our furry friends, owning one requires not just love and care, but also financial obligations. Before becoming a pet owner, do get a good understanding of the immediate and future costs involved and ask yourself if you can make a lifelong commitment.
Cost of pet ownership
Here are some of the expenses you need to consider in owning and caring for a pet:
- Buying/adoption cost
- Registration fees
- Veterinarian expenses eg microchipping, vaccination, de-sexing, de-worming, flea treatments, regular vet check-ups, etc.
- Pet food, treats and health supplements
- Accessories - collars and leashes, carriers, food and water bowls, litter and bedding, toys, scratching posts, etc.
- Pet insurance
- Other services – behaviour training, grooming, pet-sitting, etc.
Reducing pet costs
Pet adoption has become a popular option in recent years. Whether you are adopting or buying your pet, make sure you only buy/adopt from reputable pet shops/pet shelters for better guarantee of a healthy pet. Some illegal breeders may sell sick or genetically flawed pets at low cost which can result in high medical expenses.
With pets' health care costs rising, it may be wise to consider pet insurance to cover expenses if your pet gets sick or injured and needs veterinary care. Pet insurance can help to cover these costs, but always check what’s covered – and what’s not – before you buy a policy. Shop around to get the best cover for your circumstances.
You should also consider de-sexing your pet if you don't plan to breed it.
Other ways to reduce pet costs include grooming pets at home, making your own toys and treats and taking good care of your pet – including a healthy diet, exercise, dental care, and regular vet visits. By providing good care to your pet, not only will it have a happy and healthy live, your pet expenses from costly and unexpected vet visits can be lowered in the longer term.
