If you’ve ever owned a pet, you know the joy and companionship they can provide. You probably also know about the responsibility of owning a pet, a responsibility that includes paying for its food, bed and even medical care.

While you’ll never be able to eliminate pet costs entirely, there are some money tips that pet owners everywhere can follow to make sure they can provide for their pets without unduly straining their wallets.

Estimate Affordability

If you’re planning on getting a pet, one of the best things you can do is to make sure you can afford it. Many pet owners have no idea how much their new pet is going to cost, and many people have to give up their new pets when they realize they don’t have the kind of money a pet requires.

You can figure out how much a new pet will cost simply by doing some research. Talk with pet stores about how much your pet will have to eat each month, as well as what you’ll have to buy to keep your pet happy, from birdcages to litter boxes to leashes. You’ll also want to talk with veterinarians in your area about how much they charge for regular checkups and some of the typical medical expenses your type of pet usually incurs.

Budget Pet Costs

Once you have an idea of how much your pet will cost and that you can afford it, your next step should be to put a pet expenses category in your monthly budget. You’ll want to include items like pet food and cat litter in this category, but you might also want to think about setting aside money for pet items you might not have to replace so often, such as bedding or cages, leashes, pet toys, and even aquarium decorations.

This is a pretty simple financial move, but it’s quite possibly one that will pay off the most. When you include your pet’s expenses in the budget, you won’t have to worry about how much their food will cost or where the money for the new food dish will come from because you’ll already know.

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Pet-Proof Your Home

Cats aren’t the only curious pet. A lot of pets tend to go exploring where they shouldn’t, and the result can be costly. Make sure that toxic chemicals are all securely locked and secure any electrical cords that could strangle or electrocute your pet. You’ll also want to make sure Always make sure your outer doors are securely closed, and if you have a pet that can fly, make sure it’s in its cage before opening any windows.

Plan for Emergencies

Unfortunately, your pet will eventually need medical care, and even pet’s medical needs will cost money. You can help defray these costs when you purchase pet insurance. Like other types of insurance, it involves you paying a bit of money each month, usually between $25 to $45, and in return after a copayment the insurance policy will cover your pet’s medical expenses.

If you do decide to purchase pet insurance, you’ll want to follow the same guidelines you’d follow if you were buying other types of insurance. Talk to multiple providers, find out what types of insurance your preferred veterinarian will accept, and make sure you’re aware of all the restrictions that may come with the insurance policy, such as what won’t be covered and if there’s a limit to what the policy will cover.

Open a Pet Savings Account

Even if you get pet insurance, you’ll still need to set aside money for pet emergencies. One of the best ways to do this is with a pet savings account, such as the one First Alliance Credit Union offers.

When you get a pet savings account at First Alliance Credit Union, you’re not just setting up an emergency fund for your pet that will prevent you from sinking into debt when an emergency arises. You’ll also get a higher interest rate than a traditional savings account, and First Alliance will also donate $10 to the Paws and Claws Humane Society.

Keep Your Pet Happy and Healthy With First Alliance Credit Union

There’s no getting around the fact that pets are a financial responsibility. However, by taking a few simple steps you’ll be able to take care of your pet without having to worry about whether or not it’s too expensive.

If you’d like to open a pet savings account at First Alliance Credit Union, become a member today. It only requires a five-dollar deposit, and you’ll be able to start transferring money into your account via our online banking platform and mobile app.