12 Costs to Budget for When Adopting a Pet

Are you thinking about getting a pet to share your days and brighten your home? If so, you’re not alone. According to the ASPCA, 4.1 million dogs and cats are adopted each year in the US. 

Adopting a pet can be exciting. But pets also come with responsibilities. These responsibilities can impact your budget and have a big impact on your finances. 

Caring for a dog can cost between $326-$1,982 annually, according to the Canine Journal. Over a 15-year life span, that totals between $4,890 and $29,730. 

Taking care of a pet financially can really add up! Costs can vary based on the animal you adopt. But it is important to factor these costs into your budget to be sure you’re financially ready to take care of a pet. 

Let’s look at 12 costs to budget for when adopting a pet.

Upfront Costs

You’ll face two different types of costs when you adopt a pet. First, we’ll discuss the upfront costs or the costs you might need to cover when adopting or shortly after you’ve adopted.

Adoption Fees

One of the first costs you’ll need to cover when adopting a pet is the adoption fee. This fee will vary depending on where and what kind of pet you’re hoping to adopt. Some shelters will even cover the adoption fee for certain animals or at different times. As you get ready to adopt, call the shelters in your area or spend some time on their websites to get a feel for the adoption fee you might face.

Adoption Deposit

If you’re renting your apartment or home, you may need to make a pet deposit to your landlord before bringing your pet home. This deposit helps cover any damages your pet might cause. Depending on your landlord, it may or may not be refundable. As you’re getting ready to adopt, reach out to your landlord to understand the rules and requirements for adopting a pet and any deposits that may be required.

Initial Vet Visit

Once you bring your furry friend home, you’ll want to get them checked out by the vet to be sure they’re in good health. So, budgeting for the initial vet visit when you adopt your pet is a good idea. If you aren’t sure how much the visit will cost, call around to vets in your area to get a feel for prices. This will help you ensure your budget is ready for this visit.

Spay/Neuter Vet Visit

In addition to the initial vet visit, if the shelter you’re adopting from does not spay or neuter animals before they are adopted out, you’ll want to budget for this expense.

Pet Supplies

When building your upfront budget for adopting a pet, you’ll also want to consider the pet supplies you might need. 

These supplies could include food and water bowls and food to get you started, grooming supplies, a leash, toys, and anything else you need at home when your pet arrives. 

Factoring these supplies into your upfront budget for adopting a pet will help you manage the expenses as they come up without breaking your budget.

Training

Depending on the kind of pet you adopt and its age and experience, you may want to enroll in training classes. These classes can help ensure your pet is properly trained and socialized. If you want to enroll in training classes, budgeting upfront for this cost can make it more obtainable.

Ongoing Costs

Now that we’ve considered the costs you may face during the adoption process and shortly after, let’s look at the ongoing costs of owning a pet. These are the monthly, annual, or periodic costs you need to budget for when adopting a pet.

Food and Treats

One of the biggest costs associated with owning a pet can be feeding them over time. Once you’ve decided to adopt a pet, factoring the average cost of pet food into your monthly budget will help you prepare for this expense. 

It’s best to see how this cost fits your budget before adopting a pet. That way, you can cover the cost and still meet your other financial obligations. 

If you aren’t sure how much it will cost to feed your pet, talk to friends and family who have similar pets. Go to the pet store and get a sense of how much food will cost. Or speak with a vet to understand what feeding your pet might cost. 

You can also look for creative ways to save on pet food. You could buy it in bulk if you have a place to store it. You could also shop around and compare prices to find the best place to buy food for your pet.

Annual Vet Checkup and Shots

Another cost that you’ll face periodically is the cost of annual vet checkups and shots. As you pick a veterinarian for the initial visit when you adopt, ask about the cost of annual checkups. This will help you have a number to consider in your budget.

Waste Management/Disposal

No matter what type of pet you adopt, you’ll need to factor in waste management and disposal costs. For a cat, this could be a litter box and cat litter. For a dog, you may need to buy waste bags to take with you on walks. Either way, you’ll want to factor this cost into your monthly budget once you adopt.

Medication

Depending on your pet’s health and where you live, you may need to factor in medication costs when you adopt. 

If you live somewhere with fleas and ticks, you’ll want to treat your pet to protect them. 

Your pet’s health situation could also change and require you to factor in the cost of medicine down the line as they age. It’s important to understand any medication costs so you can take the best care of your pet possible.

Pet Insurance

You might want to consider getting pet insurance to help offset vet bills. Pet insurance can help you cover large vet bills and can give you peace of mind. 

With pet insurance, you’ll typically pay a monthly premium to the insurance company. Then, if your pet gets sick or hurt, you’ll pay the vet directly and submit the charges for reimbursement. 

Like other types of insurance, you may be required to pay a copay or reach a deductible before the insurance will cover the charges. Shop around for coverage to be sure you’re getting what you need at a price you can afford. It’s also important to note that your premiums may increase as your pet ages and their health status changes.

Boarding/Care When Out of Town

While not a regular or annual cost, budgeting for boarding or pet care while you’re out of town is a good thing to factor in. You may be able to find a friend to check in or stay with your pet while you’re gone, which would be a lower-cost option. But you also may have to board your pet at a vet’s office or boarding facility. Factoring this into your budget will help you be ready when the expense arises.

Factoring in These Costs

Now that you know some of the costs to budget for when adopting a pet, you might be curious about how to factor all these expenses into your budget. It’s good to plan how and when you’ll budget for these costs as you prepare to adopt.

Save Upfront Costs Before You Adopt

It’s a good idea to save for the upfront costs of adopting a pet before you adopt. This will help your budget stay on track in other areas and will help you avoid going into debt to adopt a pet. Set up a separate savings account or allocate a portion of your savings account towards pet adoption. Then each paycheck, add money to the fund.

Factor Ongoing Costs into Your Budget

For the ongoing costs associated with adopting a pet, it can be helpful to factor these costs into your monthly budget. Doing this will help you be sure that they fit. It will also let you see if you need to adjust other areas of spending to accommodate your new pet.

Create a Sinking Fund

Finally, for annual expenses or the expenses you face less frequently, like vet visits, shots, or boarding, create a sinking fund. This sinking fund will be a savings account where you put aside money to help you cover pet expenses. Think of it like a pet emergency fund. It will be there for you when you need it, and it will lessen the blow of unexpected pet expenses that come up. This will help you cover these expenses without breaking the budget or going into debt.

Adopting a pet is very exciting. You’re getting a new friend to take on adventures and snuggle up with. But it is also expensive. Factoring these 12 upfront and ongoing costs into your budget when you’re ready to adopt a pet will help you give your pet the best care possible. It will also help you keep your budget on track and continue making progress on your financial goals.