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.
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.
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.
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.
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.
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.
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.