The cost of pet ownership

Those cute puppy dog or kitten eyes staring back at us genuinely melt our hearts.
They also grow up to bring much joy into our lives!

But before you consider getting a companion animal, you need to understand that owning a pet is a long-term commitment and it is a significant financial cost to your family, with expenses such as food, grooming, veterinary care and pet insurance.

According to the Pets in Australia report by Animal Medicines Australia, a cat or dog will cost you between $3,000 and $6,000 in their first year. For each year of pet ownership, you can expect to pay at least $4,000 if you have a dog and $2,800 if you have a cat.

Other pets, such as birds, fish, small mammals, and reptiles, have an average annual cost of ownership of around $1,000.

The report also points out that the cost breakdown of owning a cat or dog each year was food (51 percent), veterinary visits (14 percent), products and accessories (9 percent), and pet healthcare products (9 percent).

This doesn’t include unexpected costs such as veterinary bills if your pet gets injured or sick. Pet insurance can help cover some of these costs, so consider investing in it early on to avoid pre-existing conditions that won’t be covered.

Here’s the breakdown of the costs of adopting a pet.

Pet purchase fees

The cost of acquiring a pet has risen significantly since the pandemic, with 34 percent of dogs costing more than $2,000 and 11 percent of cats costing more than $1,000.

Rescuing a dog or cat from an animal shelter will cost around $500 and will give a pet in need a home. Adopting from one of CANA’s members is also cost- effective as the pet has already been vet checked, microchipped and desexed. It is worth considering this option before reaching out to breeders.

Microchipping, vaccination and de-sexing a pet

Microchipping and de-sexing is a one-off cost and occurs in your pet’s first year of life. Vaccinations are needed every 1 – 3 years, so these must be factored into your budget. The average cost of microchipping, de-sexing and vaccinating your pet in the first year is up to $1,000. If you adopt a rescue pet from a shelter, the shelter covers de-sexing and initial vaccination costs.

Council registration fees for owning a pet

It is compulsory in many states to register your dog or cat with your local council once they are microchipped at around six months of age. Most councils have a lifetime, one-off registration payment, with a discount if you have de-sexed your pet. Pets not de-sexed or de-sexed after six months of age can cost more to register. This is to discourage unwanted litters or stray animals.

Registering your pet will increase your chance of finding them if they get lost or run away from home.

Unexpected and emergency healthcare costs

Unexpected injuries and illnesses can happen to any pet, and veterinary costs for treatment can average between $5,000 and $10,000 and sometimes even more!

Pet insurance can help cover up to 80 per cent of these costs if the condition is not pre-existing. Pet insurance premiums rise yearly as your pet ages and can average between $50 and $200 annually.

An alternative to pet insurance can be a savings plan to put aside money in case of emergency or unexpected pet healthcare.

How you can save money on pet expenses

Here are some suggestions on how you can reduce pet care costs for your family.

Manage your annual vet costs by taking your pet regularly for their veterinary checkups. Talk to your vet about payment options, as they may provide payment plans.
Give your pet regular exercise and a good diet to promote good health and keep up with their dental care and well-being.
Ask someone to pet-sit at your home when you’re away rather than taking your pet to the vet or kennel for boarding.
Buy pet food in bulk or on sale, as this can reduce food bills per meal.
Wash your pets yourself and learn how to trim your pet’s nails and fur.
Make your own pet toys and treats using household items you already have, such as an old blanket.