How to Budget for a New Dog

You’ve been looking into dog breeds and are ready to pick out a new companion, but are you ready for the financial responsibility? When adopting or buying a new pup, it is easy to get swept up in the excitement and forget the financial responsibilities that come with pet ownership. As you begin your search, keep in mind the following costs that may arise and how to budget for a new dog.

One-time expenses

Whether you are buying a puppy or looking into adoption, there are a number of one-time costs that will come upfront to consider. These are typically the least planned for expenses but are often unavoidable. Based on an average cost of pet ownership, costs may include:

  • Cost or Adoption Fee- price varies depending on breed, location, etc.
  • Spaying or Neutering- $200
  • Initial Medical Exam- $70
  • Collar and Leash- $30
  • Crate- $60
  • Training- price varies depending on the type and length of the course
  • Pet Rent (for renters)- price varies

Annual expenses

Annual expenses are usually the costs that owners expect, such as food, treats and toys. While these costs can vary widely, owners can expect to spend on average $700-$800 a year per pet. Average costs include:

  • Food- $120
  • Annual Medical Exams- $200-$300
  • Toys and Treats- $50
  • License- $15
  • Pet Health Insurance- $225
  • Boarding/Pet Sitting (for travel)- price varies
  • Grooming- $200-$300

So how much should you save?

Before looking for a new dog, you should try and save enough to cover all of the one-time expenses along with the first few months of recurring expenses. This will help in the event that something costs more than you initially planned.

Other things to consider

If you are looking to save on initial costs, consider adopting versus purchasing from a breeder. Adoption fees are often much less expensive than dogs from breeders. You can also save money by training your pup at home. Training at home may take more time and energy from you, but it will eliminate another cost.

While there are certainly costs associated with getting a new dog, planning can make it easier for you to bring a four-legged friend into your life. And, you will most likely find the cost is worth the reward!

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