Dogs are wonderful pets. They are loyal creatures, give lots of love, and always put a smile on your face. However, before getting a puppy, it's important to consider whether you can afford to care for your new pet. Read on to find out how much the average pet parent spends on their dog, and get ready to give your new furry friend the best life.
Pet parents spend up to $5,225 on annual dog expenses
Rover conducted a study on the cost of raising a dog in 2024 to find out how much the average pet owner is spending on their dog. This study looked at the average cost of owning a pet during the first year and the average annual cost. Rover found that pet parents spend varying amounts of money on dog care.
Rover found that pet parents spend between $870 and $4,565 during the first year of pet ownership when bringing a new dog home. Adoption fees, spay/neuter surgeries, vaccinations, and microchips are some of the costs new pet owners pay.
Of course, there are costs in addition to the initial installation cost. Typical expenses include food, toys, crate, harness and collar, and annual veterinary checkups. Dog parents spend anywhere from $1,000 to $5,225 per year caring for their furry friends.
If your dog is healthy and doesn't want extras, you may be able to keep your annual care costs much lower than $5,225. But even if you follow the basics, you'll need money to properly care for your new friend. This study is a reminder of how important it is to consider your financial situation before adopting a canine companion.
How to prepare financially to become a dog father or mother
Here are some tips to help you financially prepare to give your dog a wonderful life with lots of love, comfort, and companionship.
Investigate nursing care costs
As Rover's research shows, the cost of caring for a pet can add up quickly. Before adding a new puppy to your family, it is essential to research the average costs. If you've only ever cared for other pets, such as cats, you may be surprised at how expensive it can be to own a dog. If you want to know local prices, ask friends and family how much they would charge for supplies and veterinary care.
Start saving
When your best friend first comes home, you'll want to make sure you have enough money to take care of their needs and into the future. It is wise to save money before getting a puppy or dog. Establishing an emergency fund can help you feel more financially secure.
Having extra savings can give you the funds you need if you have to pay for an emergency vet bill. Not sure where to stash your savings? High-yield savings accounts are a great place to keep your extra cash because they earn interest while your money is in the bank.
Consider pet insurance
Even if you can save money, unexpected pet care costs can impact your personal finances. You don't want to take on high credit card debt because you've already maxed out your emergency fund. Some pet parents purchase pet insurance to protect themselves financially.
With pet insurance, you can get reimbursed for eligible pet expenses, such as veterinary fees. When researching pet insurance companies, be sure to review your coverage options so you know what to expect from each policy so you can choose the right one for your furry friend.
If you're considering investing in pet insurance for your dog, check out our list of the best pet insurance companies before bringing home your cute companion.
