Pet Life

How to financially prepare for a pet

Philstar.com

September 15, 2016 | 5:15pm

MANILA, Philippines – Couldn’t you just buy the cutest pet you could find without thinking much about your budget? Well, no. Apparently, there are several costs involved in owning a pet and it’s best to make sure they’re not going to eat up your funds for more important things—like your own food.

On October 4 this year, the World Animal Day will be celebrated across the globe. The celebration seeks increased awareness of animal welfare. So, if you truly love animals and want to own one as a pet, be a responsible future pet owner by making sure you can really provide for his or her needs.

Learn about the pet you want to own.

Did that cute little thing in the store just captured your heart? Pause and breathe before thinking of buying it immediately. Do some research first to avoid getting surprised by the expenses that will follow after purchasing a pet. Fact is, owning a pet can be really expensive.

If you really want to take care of an animal someday, you should start with learning more about the type of pet you’re eyeing to own. Read about how to take care of it, how much it costs, and the pros and cons. If you’re on a budget, you can make the overall cost (price + maintenance) your top consideration when shopping for pets.

Do the math to find out whether you can afford one.

After learning about the pet you want to own and the possible costs, it’s time to look at your income, current expenses, and savings and do some math to see whether you can really afford a pet. Take note of the necessities you’ll most likely spend on:

Food: Bigger and more active pets may need more food.
Accessories: Depending on the type of your pet, there are certain things you’ll need to buy like toys, collar, clothes, bed/cage/aquarium and litter box.
Damage: If your pet misbehaves and ruins something in your home, you’d have to spend on repairs.
Grooming: Some pets require grooming at least every quarter, or maybe even more frequent than that.
Vet: Vaccinations, spaying or neutering, check-ups, and treatments are all part of taking care of a pet.

Consider animal adoption.

There are less expensive ways of getting yourself a pet. One is adoption. The Philippine Animal Welfare Society, or PAWS, for example, is sheltering several cats and dogs which the organization can entrust to responsible individuals.

Keep in mind that foundations will look into your financial capability to provide for the needs of the pet you’d like to bring home. This makes it really important to prep your finances first. There’s also an adoption fee you’ll have to cover.

Should you own a pet now?

A pet can give us a lot of emotional and mental benefits. Most of the time, they keep us sane when things are a bit rough.

But if your math tells you that you’re not earning enough to cover the costs of pet ownership, then now is not the right time. Perhaps you also have yet to finish your monthly payments on a car or put some money down for a house.

Make sure that spending on a pet will not get in the way of reaching your more important money goals. It’s also your way of standing up for animal welfare and responsible pet ownership on World Animal Day.

^{Brought to you by:}