We've launched the new forums! Read more here

Will your pet bankrupt you?

Smallville

Smallville

#ICanHitADraw
Joined
Oct 16, 2008
Messages
98,737
Reaction score
531
Location
Kansas City, Kansas
Handicap
In Flux
MSN has a pretty interesting article on owning pets today.

http://money.msn.com/saving-money/will-your-pet-bankrupt-you-weston.aspx?GT1=33021


By Liz Weston

Before you adopt that cute mutt or exotic fish, be sure you know what the animal's needs are -- and that you have a plan to deal with unexpected expenses.

We have one really nice rug in our house: a Turkish wool number that my husband inherited from an aunt.

That is, of course, the rug our new dog decided to eat. The pooch didn't complete his task, but repairing the damage set us back $500.

That sum paled compared with what a relative could have faced in vet bills when her dog developed a series of serious but treatable ailments. The bills topped $16,000. Luckily, she had bought pet insurance right before the first diagnosis, and most of the bills were covered.

Readers had similar stories, and not everyone has pet insurance to cover the costs. Diane Jarvis Powers of Thousand Oaks, Calif., looked into coverage after her dog's first surgery to remove strings from a rope toy that blocked his intestines, but decided the insurance was too expensive and had too many exclusions. Little did she know the dog, a purebred Sheltie adopted from a friend, wasn't done: He then scarfed down T-shirt strips her son had thrown in the trash, requiring another surgery.

"That 'free' dog has cost us $10,000 so far," Powers wrote on my Facebook fan page.

More:
Spoiler
Dogs aren't the only animals that cost their owners money. Readers described surgeries to treat horses with colic, cats that required diabetes medication and dental treatments, and even a lizard that received two months of expensive care before it died.

The point is: Pet ownership can be expensive, above and beyond the costs of acquiring, accommodating, feeding and grooming the animal. Bad luck or poor preparation could leave you facing catastrophic bills.

And that's assuming your pet never hurts anyone. A single act of aggression could cost you $25,000 or more. Even owning certain breeds of dogs with a reputation for aggression can mean losing your homeowners insurance.

If owning a pet is important to you -- and believe me, our dog has brought immense joy into our lives, in addition to minor property damage -- then here are some suggestions for how to cope:

  • Do your research. Before you seek out or agree to adopt a pet, make sure you understand the setup and continuing costs in both money and time. This chart from the American Society for the Prevention of Cruelty to Animals outlines the first-year expenses you can expect for various types of animals, ranging from $235 for a fish to more than $1,800 for a large dog. Rescue groups and discussions with other owners of your type of pet can help you understand the time commitment involved. Also, check with your homeowners insurance company to find out if it blacklists any dog breeds. If so, consider other breeds or shop around, since insurers differ considerably in what they will and won't cover.
  • Pet-proof your house. Just as you'd take safety measures before bringing a baby into your home, you'll need to consider hazards to your new pet. That means removing or securing toxic plants, electrical cords, small objects and even clothing (especially underwear, which both dogs and cats will eat). If you have both a dog and a cat, you'll need to figure out a way to prevent the canine from treating the litter box as a candy dish. (Yuck, I know, but what's called coprophagia isn't uncommon with dogs.) Daily vigilance in keeping hazards away is essential.
  • Invest in training -- and diversions. Our dog trainer Paul Owens, a co-author of "The Puppy Whisperer," notes that if you don't keep your dog occupied it will become "self-employed" in positions such as gardener (digging in the yard) or interior decorator (chewing up the furniture). Proper training and appropriate toys can help. Ask friends for referrals to trainers or check with a pet store. Chain pet stores often offer affordable group classes.
  • Consider pet insurance. Experts are still divided about whether pet insurance is worth the money. Consumer Reports advises setting up a savings account to pay for vet care, but if you're the type of person who would do anything to save your animal, pet insurance can make more sense.

    What Americans spend on their pets
    Share of total
    Food $18.28 billion 38%
    Vet care $12.79 billion 27%
    Supplies/OTC medicine $11.01 billion 23%
    Grooming, boarding, other services $3.45 billion 7%
    Live animal purchases $2.21 billion 5%
    Total $47.74 billion
    Source: American Pet Products Association, 2010
 
Last edited:
Interesting. The wife and I have a cat that hasn't cost us anything except for food, and I don't think we will ever get a dog, mostly due to the cost.
 
coolbreeze said:
Interesting. The wife and I have a cat that hasn't cost us anything except for food, and I don't think we will ever get a dog, mostly due to the cost.
Click to expand...

Bandit cost us almost five figures. We're still paying that off. If I had only gotten pet insurance when I was thinking about doing it, it would have cost between $1,000 and $1,500. But once we were in for what a few days in doggie ICU cost (almost half of the amount was in those first 4 days), we had to see it through. Ugggh. Both our dogs have insurance now.

If we had kids we were going to put thru college or something, we probably would have put him down when he got sick.
 
we have 3 full size labs and 2 small inside dogs. I have to pay for the food and it sucks! $20 for outside 50lb. bag of food every week half, then $15 for a 12 pound bag of inside food every 2 weeks or so. A LOT of money.
 
We had a TeaCup poodle that cost me 12 thousand plus in 12 years just on keeping her alive for all her ailments .
Now we have a 2 dogs and my English Bull Terrier has cost me around 6 or 7 thousand ( broke her leg at 7 months old chasing the toy fox terrier in the house , she ripped off 6 casts at a cost of 200 bucks apiece , 3 right ACL knee surgeries ) and she is only 7 years old .
We don't have kids so dogs it is :D
 
I REALLY want a dog (or two) but my work schedule doesn't lend itself well to having things depend on me for sustenance
 
wow I had no idea it could be so much... we have been looking into getting a dog, but I think I will hold off on that for now
 
There was a chart in the article that I didn't add to the post originally. Here it is (in non-chart form):

What Americans spend on their pets
Share of total
Food $18.28 billion 38%
Vet care $12.79 billion 27%
Supplies/OTC medicine $11.01 billion 23%
Grooming, boarding, other services $3.45 billion 7%
Live animal purchases $2.21 billion 5%
Total $47.74 billion
Source: American Pet Products Association, 2010
 
I have a Pekingese (my avatar photo), who actually is a pretty low maintenance dog (knock on wood!) so far for a pure bred known to have a lot of problems. She has some back problem that have been cured with anti-inflammatories. B/f I had kids, I bought super-premium food for her. Now with 2 kids, she gets a lower grade, but I've been thinking about up-grading to higher food quality, thinking it might promote better health and a longer life. I hope my baby Peke lives a good life until she's at least 20!
 
I inherited a cat, (Oreo), and he's been a blessing since the loss of my best friend Bill. I would love another English Setter, but with three kids and three grand kids, along with a golf addiction, I don't think I can afford it, lol.
 
our dog is like our child since we dont have any(kids that is)
she's a regular sized chihuahua and so far she's been healthy as she could possibly be *crosses my fingers*
very low maintenance
the dog i had growing up was high maintenance
 
If my cat doesn't stop chasing my golf balls when I practice putting he's going to find himself on the street.......

Actually about 2 years ago my Cat got me into a bit of trouble. He got out and killed my neighbor's championship show bird. I didn't even know they did that kind of stuff. I knew they had contest for dogs and cats, but I just thought my neighbor was an eccentric old lady who liked to push her birdcage outside every morning for some fresh air.

My Cat got out, jumped the fence to her back yard, knocked the bird cage over (5ft tall btw), somehow got the cage opened, had its fun, and left the dead carcass on my front door mat so he could pin the blame fully on me. I had no shot at claiming innocense, there was a trail of feathers & Blood leading all the way back to my front door. My Neighbor lost it, and I do mean lost it. When I movd out 1 year later she told me "good riddance" to my face. I remember just laughing and being thankful that she didn't sue like she had originally intended to. Her husband is a great man who talked her out of it.

So my cat really only costs me food, but he almost cost me a lawsuit!
 
Financially? Maybe... Emotionally? Never...
 
Two dogs and a cat that thinks it's a dog cost me almost as much as my golf addiction... almost. :)

+1 on kicking the cat out for chasing putts!
 
My wife and I have always had Rat Terrier dogs and our current boy (Bogey) has been really healthy so far at 6 years old. Our previous (Rudy) got sick when he was 7 and we found out he was diabetic (like me).
I had to give him to shots of insulin, 20 units each a day. The cost was fairly low at around $25 a month for insulin and I wanted to give him as little pain as possible so I used a new needle every time so that added another $25 a month.
He lived surprising well for 4 more years with me giving him the 2 shots a day. It was the best $2400 I ever spent. I never thought about pet insurance through.
 
HoosierGolfer said:
My wife and I have always had Rat Terrier dogs and our current boy (Bogey) has been really healthy so far at 6 years old. Our previous (Rudy) got sick when he was 7 and we found out he was diabetic (like me).
I had to give him to shots of insulin, 20 units each a day. The cost was fairly low at around $25 a month for insulin and I wanted to give him as little pain as possible so I used a new needle every time so that added another $25 a month.
He lived surprising well for 4 more years with me giving him the 2 shots a day. It was the best $2400 I ever spent. I never thought about pet insurance through.
Click to expand...
I have two rat terriers now. Smartest dogs I have ever had. I am sure it was worth every penny.
 
SNAP HOOK said:
If my cat doesn't stop chasing my golf balls when I practice putting he's going to find himself on the street.......

Actually about 2 years ago my Cat got me into a bit of trouble. He got out and killed my neighbor's championship show bird. I didn't even know they did that kind of stuff. I knew they had contest for dogs and cats, but I just thought my neighbor was an eccentric old lady who liked to push her birdcage outside every morning for some fresh air.

My Cat got out, jumped the fence to her back yard, knocked the bird cage over (5ft tall btw), somehow got the cage opened, had its fun, and left the dead carcass on my front door mat so he could pin the blame fully on me. I had no shot at claiming innocense, there was a trail of feathers & Blood leading all the way back to my front door. My Neighbor lost it, and I do mean lost it. When I movd out 1 year later she told me "good riddance" to my face. I remember just laughing and being thankful that she didn't sue like she had originally intended to. Her husband is a great man who talked her out of it.

So my cat really only costs me food, but he almost cost me a lawsuit!
Click to expand...

Thats a great story! My cat is an outdoor cat and a hunter, she brings in birds daily and adds the occasional rabbit, or mouse to that list. If that lady had been living next door to me the bird would not have made it 5 minutes.
 
When my collie was alive, she was on heart medicine and arthritis medicine. I paid over $100 month just for her meds. She cost me thousands in her last few years but in my eyes I had no choice but take care of her the best I could. She was my best buddy and I miss her terribly.
 
Our Westie just cost us $1,500 for ACL surgery. Mrs. Esox is exercising his leg right now. Look at her over there.

He's worth it. Dumb as a post, but a loyal little bugger. He was laying by me a little while ago. I enjoy that.

Kevin
 
HoosierGolfer said:
My wife and I have always had Rat Terrier dogs and our current boy (Bogey) has been really healthy so far at 6 years old. Our previous (Rudy) got sick when he was 7 and we found out he was diabetic (like me).
I had to give him to shots of insulin, 20 units each a day. The cost was fairly low at around $25 a month for insulin and I wanted to give him as little pain as possible so I used a new needle every time so that added another $25 a month.
He lived surprising well for 4 more years with me giving him the 2 shots a day. It was the best $2400 I ever spent. I never thought about pet insurance through.
Click to expand...

We pay about $500 a year on insurance on our two (big) dogs. I chose VPI as they are highly rated and not the most expensive. Hope I never need to use it.
 
Having the cats keeps my budget in order. If I did not have them there is no telling how much I would be spending on all sorts of golf clubs and accessories! :bananadance:
 
You must log in or register to reply here.
Back
Top