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By Mary Castillo

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Pets offer joy and companionship, but pet ownership can be a significant financial commitment. About one in four of my clients have a pet, so it is important that I can help my clients budget and balance care costs for their furry, scaly, or feathered companions with their overall household income and expenses. Fortunately, you can take practical steps to make pet ownership more affordable while ensuring your pet thrives.

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Identify pet ownership costs

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Pet-related expenses can easily blend into your overall budget, such as when you purchase pet food alongside groceries at the supermarket. To gain clarity on these costs, track your pet spending through receipts or online or in-app purchase history, or by noting price tags on packages.

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Include not only food but also expenses such as veterinary bills, medications, insurance, licences, grooming, maintenance fees and recurring services such as pet sitting or dog walking. While some costs, such as extra electricity for cooling a fish tank or heating a reptile terrarium, may be difficult to pinpoint and might not become part of your pet budget, thorough tracking helps you manage expenses effectively.

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Refine your pet budget

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Tracking your pet expenses can reveal opportunities to adjust spending and make pet ownership more affordable. Reviewing costs often sparks creative, budget-friendly ideas, such as cutting back on non-essential items. For example, dog and cat owners may notice significant spending on toys, treats or comfort items, yet pets remain content as long as their core needs are met, regardless of cost.

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Incorporating these insights into a dedicated pet budget helps you manage expenses effectively. Ideally, this pet budget should fit within your broader household budget, but starting with a standalone pet budget is a practical way to begin understanding and controlling these costs without feeling overwhelmed.

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Creativity and DIY can cut costs

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With the high cost of living, keeping pet expenses affordable without compromising their care and comfort frees up funds for less flexible expenses. To make budget-conscious, pet-friendly choices, carefully consider the different categories of your pet’s expenses.

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Food is a major recurring pet expense, but there are options to cut costs without compromising quality. Buying in bulk saves money; split the cost with a friend if storage is an issue. Alternatively, opt for a budget-friendly brand with comparable nutritional value, ensuring your pet’s needs are met while keeping your wallet happy.

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Providing your pet with quality food can lower long-term veterinary costs, a significant expense for pet owners. To make vet care more affordable, seek out community clinics, often supported by humane societies, offering check-ups and vaccinations at reduced rates. For kittens and puppies, low-cost spay and neuter clinics can save on surgical expenses. If you have multiple pets, inquire about multi-pet discounts for preventive care and for all pets, explore pet insurance to help cover emergency bills.