The High Cost Of Pet Care
Pets may be wonderful companions, but owning one is a big responsibility that includes a financial commitment.
According to the American Pet Products Manufacturers Association (APPMA), Americans spent $38.4 billion on pets. The association says that 63 percent of American households own at least one pet and there are almost 74 million dogs and 90 million cats living in the country.
Food is one of the greatest expenses for dog owners, costing an average of about $241 per year. The Early Show veterinary correspondent Dr. Debbye Turner said people can also cut costs on food. Although premium brands are usually more digestible for pets, if you can't afford them, no-name brands are fine.
Visits to the veterinarian are also pricey. A regular visit for a dog costs about $211 and for a cat, it costs $179. Dr. Turner said you don't have to be rich to afford owning a pet.
The most efficient way to avoid extra costs is prevention. Having your pet vaccinated, spayed, neutered and getting their teeth cleaned will prevent a host of health-related problems down the road that will cost a lot more than the cost of the preventative care.
"The first year is most expensive," she said. "You have all those full-time costs. You buy the food bowl. The litter pan, the leash, plus initial vet visit for de-worming vaccinations. They are more extensive the first year, they get better after that."
According to the American Animal Hospital Association, the average cost of neutering a cat in 2002 was $62 and $106 for a dog. The average cost of spaying a cat was $99 and $142 for a dog.
Some veterinary clinics offer wellness or preventive care programs for a monthly or yearly flat rate that covers the cost of a yearly exam, vaccination boosters, maybe even test for intestinal parasites. For example, The Banfield Hospitals at PetsMart offers a plan that ranges from $15.95 to 34.95 a month and covers routine exams, vaccinations, and heartworm test. A premium plan covers X-rays, blood work and teeth cleaning.
Comparing the cost of preventive care to the cost of treating a preventable disease, it is clear that the upfront cost worth preventing the pain and suffering to your pet, and your wallet.
Here Are Some Estimates:
Some companies provide pet insurance. Most policies cover accidents, like being hit by a car, other injuries, diagnostics like MRI's, CT Scans, Ultrasound, plus radiation treatment, chemotherapy, and surgery. Policies can cost anywhere from $9 to $200 a month, depending on the coverage you'd like, the breed, age and health condition of the pet.
Most policies carry a deductible — usually $50 — and have maximum amounts that the company will pay for particular procedures. Some companies even require that you take your pet to one of the approved veterinarians on their list. Many policies will not cover an old pet, certain breeds, or a pet with a previous condition. Only 2 percent of pet owners currently utilize pet insurance, but Dr. Turner said it is worth exploring, especially if you have a new pet.
The APPMA says that boarding a dog usually costs about $202 and boarding a cat costs $119. At least for dogs, miscellaneous costs for things like toys, training, grooming and vitamins and nutritional supplements, are the most costly, averages about $380. Miscellaneous costs for cats average about $149.
"It's going to be $1,000 a year for a dog, $700 a year for a cat," Dr. Turner said.