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Ready to get a pet? Here are 5 money-saving habits of a successful pet owner

  • By
  • Asif Ghafoor
  • September 8, 2015

You can’t put a price on the joy of owning a pet, but you can calculate the price it costs to keep it safe and healthy. Before getting a pet, there are some money habits that you should apply into your life. Believe us when we say that they are vital to the well-being of your pet! Other than paying attention to pet leashes and bowls, responsible pet owners are also well-prepared for everything, from a vet visit to funeral services when their pets pass away.
If you plan on becoming a responsible pet owner for life, here are five money-saving tips from MoneyHero.com.hk! Do keep in mind that owning a pet is a lifetime responsibility and some of these money habits could cost you a fortune.

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1. Calculate food costs

On average, wolfdogs or sled dogs consume 2 cans of dog food (12 oz) on a daily basis. So on a monthly basis, this would be around 62 cans, which can easily cost over a thousand dollars. Also, don’t forget that dog treats cost much more than human snacks.

If the food expenses take up more than 10% of your salary, you may want to reconsider getting a pet. To find out more details on feeding habits, ask people who own similar pets. If you’re planning to buy a pet than adopt one, you can ask the sellers to give you a rough idea of the food expense costs.

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2. Buy pet insurance

We don’t mean to be debbie downers, but your pet is bound to get sick from time to time. If your pet suffers from chronic diseases like cancer, the medical expenses could get very costly. For example, a mere ultrasound scan could cost you $2,000 – $3,000HKD. Other than that, medicine for animals are much more expensive than those for humans.

A lot of pet owners forget about the importance of purchasing pet insurance. After all, it’s better to pay a small amount of money every month than lose a small fortune in the long run. Cats and dogs may be house pets, but do bear in mind they won’t stay healthy during their 12+ years of life span.

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3. Build a pet fund containing 3 months’ expenses

Other than paying the insurance premium, you should take into account the monthly costs you’d have to pay for your pet. For emergency uses, you should set up a fund containing 3 months’ expenses that covers the major expenses and save it in a separate bank account. That way, even if something unexpected happens (e.g. you lose your job), this guarantees that your pet will not be affected by this unfortunate event.

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4. Choose the cheapest option when going out with a pet

Even if you own a cat that just stays at home all day, you have to take your pet out to medical checkups and grooming services every now and then. Since animals aren’t allowed to ride on most kinds of public transport, be prepared to pay for a taxi or a van, which ranges from dozens to a few hundred dollars. But if you’re a regular customer, you might get a discount.

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5. Splurge on pet sitters when travelling

When out travelling, you can ask your friend or neighbour to take care of your pets while you’re gone, but it might not be such a good idea if they have zero experience in owning a pet.

An ideal alternative for you would be pet sitting services. Not only will pet sitters play with your pet when you’re abroad, but they will also make sure your pet takes their medicine on time and keeps the living environment clean and hygienic. They will even look after after your pet in emergency situations. Some people believe that professional pet sitting services are unnecessary, but they always end up with a series of problems upon return.. For example, they may find that their dogs got a flea infestation or bit someone when out on a walk.

Pet sitting services usually cost more than $150 per hour in Hong Kong, but you should really hire someone reliable and trustworthy instead of choosing the cheapest service provider. Depending on the duration of your travels, your friends or neighbors could help out if you were only gone for a few days, but you may want to hire a professional pet sitter if you’re planning on being gone for a longer period of time.

Other than professional pet sitters, another option is pet hotels, which costs around $100-$300 per day, depending on the size and type of your pet, the number of overnight stays and the room type. Pet hotels usually provide nursing, grooming and pick up services too, but do keep in mind that you’ll be charged for these additional services.

To Read More: Wanna travel with your pets? You CAN Holiday with Your Dog!

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