Money-saving PET CARE
Prevent your fur baby pulling on the purse strings with these smart tips
Getting a four-legged friend is an exciting and momentous occasion in your life. But bringing home a furry new family member can come with many extra costs – something you should consider before diving in. “As they say: pets are for life, not just two weeks of holidays, so you need to plan to look after them for approximately 15 years,” says financial adviser Helen Baker.
PET INSURANCE
The costs of owning a pet come in many different shapes and sizes, from the initial outset of acquiring a particular breed, to the set-up costs, through to their food and treats, and finally their ongoing vet care.
Unsurprisingly, the first year of pet ownership is the most expensive, with the RSPCA estimating the cost of getting a dog ranging from $2350 to $5220. From then on, it’s
estimated a dog costs around $1500 per year.
Due to this, more people are considering pet insurance, with 30 per cent of dog owners and 21 per cent of cat parents taking out cover in case of any unexpected trips to the vet. However, the decision requires owners to weigh up their own personal circumstances and see what works best for them.
“Just like all insurances, it is a management of risk,” advises Helen. “You are protecting yourself if something happens, whilst the insurer is protecting the money pool for future claims.
“What is your backup plan if something goes wrong and you don’t have insurance?” she adds. “Can you afford the care? Investigate the cost of a health event for your pet versus the cost of insurance. Does it make financial sense?”
KEEP YOUR PET HEALTHY
If pet insurance doesn’t suit you, Dr Lee Danks, technical services veterinarian at Black Hawk Pet Care, believes that some vet costs can be avoided by keeping your furry friend in tiptop shape. “So many of the everyday conditions that we see in practice have some form of a nutritional element,” he says. “Obesity is most prevalent. Dental disease, gastrointestinal disease [and] mobility issues... all have some interplay with nutrition. If we are going to do the pets of Australia a favour, then put them on a higher level of nutrition.”
Dr Lee explains that a healthy and balanced diet is the one thing that should never be scrimped on.
While the temptation to make your own pet food to cut costs can be tempting, he reveals you are rarely saving money and could be depriving your pet of vital nutrition – which could prove more costly in the long run.