1. Purchase Price

The first cost to consider is the original purchase price. For dogs, you might find yourself spending anywhere from a couple hundred to a few thousand dollars for certain breeds. Cats typically come in a bit lower, but you should still budget a few hundred dollars. Smaller pets like rabbits, guinea pigs, and hamsters can be more budget-friendly both in terms of purchase price and ongoing care.  

Remember, where you get your pet can make a difference in cost. Breeders often charge more, while adopting from a shelter can be a wonderful and economical option. Plus, when you adopt, you’re giving a loving home to an animal in need, and many shelter pets are already vaccinated and treated, saving you those initial costs.

If you’re considering adoption, check out your local humane society or animal shelter to find animals looking for forever homes.  

2. Medical Expenses

If your new furry friend needs vaccinations, treatments, or surgeries, it’s good to know what to expect. Procedures like spaying or neutering are quite common; you might pay around $130-$500 for dogs and $60-$370 or more for cats although these are just ballpark numbers and actual cost can depend on size and breed of your pet.  

3. Grooming

Some breeds need regular grooming, and while you can definitely take this on yourself if you’re up for it, a professional groomer can do wonders too. Expect grooming costs to be around $30-$90 for dogs and about $50-$120 for cats per visit. If your pet needs a grooming appointment once a month, this cost can certainly add up.

4. Food

Food is a big part of your pet’s budget, and there’s a wide range of options out there. Whether you go for dry food, wet food, or even fresh scraps (just make sure they’re safe for your pet!), you’ll want to budget accordingly. Some pet owners even get creative and feed their pets fresh veggies or other kitchen scraps—just be sure to keep their nutritional needs in mind!

Also, some pets end up needing food that fit certain dietary restrictions or allergies which typically comes with a higher price tag.   

Look into ordering your pet’s food online with a delivery subscription service as it may save you a little money on each bag of food.

5. Toys and Other Supplies

Depending on your pet, you’ll need to stock up on some essentials. For dogs, think about getting a leash, tags, a comfy bed, and plenty of toys. Cats will need a litter box, a few toys, and a cozy place to sleep. Smaller pets like rabbits or guinea pigs will need cages, bedding materials, and a water bottle. Make a checklist of what you’ll need and hunt for good deals so you can save a little!  

6. Training

Another cost to consider if you’re bringing a dog into your life is training. Although there are numerous resources out there that teach you how to train on your own, some pups benefit greatly from professional classes– with the average cost of classes being $300 per course.

7. Traveling

Planning to travel? You’ll need to consider boarding costs, which for dogs averages $40-$100 per night and for cats $30-$70 per night. Many facilities offer package deals, which can help you save a bit.  

8. Pet Insurance

Lastly, let’s touch on pet insurance. Having coverage can be a lifesaver when unexpected costs hit. Routine vet visits might average a few hundred dollars, but emergency care can quickly add up to thousands. If you think you might struggle to cover those bills, pet insurance might be a smart move.

It may seem like a waste of money when you don’t need to use it, however, just like with human health insurance, you’re going to be grateful you have it when the unexpected happens.