Budgeting tips for your new pet

November 28, 2016
Annette Kennedy

Are you thinking of extending your family this Christmas?                

 

Adding a furry friend to your life can give you a life time of joy and companionship.  To ensure you are ready for taking on the responsibility of the new member of your family have a look at the infographic below from that lists the average cost of caring for a pet – provided by ASIC – Australian Securities and investment commission.

https://www.moneysmart.gov.au/media/559404/pet-infographic-1.png

It is of course impossible to put a price on the great joy a pet can bring into the family home but according to ASIC data, here are some points worth considering for your budget.

  • Purchase cost - this can vary greatly between breeds
  • Vet bills - Microchipping, vaccinations, de-sexing, regular check-ups, as well as the unexpected
  • Accessories - collars, kennels, scratching poles, leads, bowls, litter trays, toys etc
  • Other services - obedience school, local council registration, grooming
  • Pet insurance - age and breed dependent

As a guide only the estimated set up costs for the first year of owning a cat or dog could range between $3000 and $6000. (excluding any major health concerns).

 

Pets of course come in all sorts of shapes and sizes, 2 legs, 4 legs or no legs at all.  So ensure you consider your budget and spend a little time understanding the new expenses that will come your way with your new family member.

Best wishes for the festive season from Mortgage Choice in Mudgeeraba, Gold Coast.

 

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