Learn About the True Cost of Owning Pets

Photo: Jamie Street

Dogs, cats, hamsters, fish, parakeets, horses—the world loves pets.

They're our best friends and our better halves. But while they come with a lot of love, they also come with a surprisingly high price tag. Upfront fees plus the annual costs of caring for an animal add up to more than you might expect. What are some of the expenses you can expect to pay for popular pets and how high can the costs be?

What's not to love?Photo: Paul Hanaoka

Initial costs

You can purchase dogs and cats from breeders and pet stores or you can adopt or rescue from shelters. Adoption fees range from $75 to $200 for cats and dogs, but buying from a breeder will likely be much more expensive. Countless stores sell fish for $2 or, for more exotic species, upwards of $50. Hamsters can cost as little as $10 from a store, while birds can range from $20 to $400.

For dogs and cats, add to these fees the cost of spaying or neutering. It might be included in the fees for a rescue pet, but a purchased pet's procedure could cost up to $200. Another upfront cost for dog owners is licensing—most states require dogs over the age of one year to be licensed. A lifetime license for a spayed or neutered dog costs around $35.

Bringing a new pet home also requires equipment. Dogs and cats will need crates, beds, litter boxes and more. Small pets, like birds and hamsters, will need cages, bedding, and food. Of course, there are plenty of extras that are just as important: your puppy or kitten will look for toys, treats and comfort objects like blankets. You'll need hygiene equipment too, such as brushes, shampoo, toothpaste, and toothbrushes.

While small pets don't necessarily need it, larger pets, like dogs and cats, should go to the veterinarian for an initial exam. The vet might administer vaccinations and recommend medicine to keep your pet healthy and safe. Common medicines include gels for flea and tick protection, supplements to prevent heartworms and, sometimes, vitamins. All of these will become ongoing expenses.

Depending on your living situation, you might face new deposits required by a landlord or an increase in rent. Pet deposits can be refundable or nonrefundable and as little as $200 or as much as $1,000. "Pet rent," as its called, usually replaces some or all of the deposit with a monthly fee ($35, perhaps) that basically acts as your pet's rent payment. One is not necessarily worse than the other—it depends on the costs and situation.

Caring for a pet can be costly Photo: Autri Taheri

Ongoing expenses

All of those upfront costs might stack up to a sizable sum but the price continues to increase in the form of ongoing expenses. You want your pet to have the happiest, most comfortable life possible, so of course, you're going to buy the best quality food and most entertaining toys. Shampoo, toothpaste, cat litter, and other hygiene products will add a bit to your regular grocery bill. Flea and tick, allergy, and heartworm medicines might add up to about $20 per month.

Regular vet visits can become expensive, especially if anything more than a checkup is needed. You can expect a bill anywhere between $50 and $500 for various shots and procedures. Dental cleanings tend to be expensive as well, and any prescriptions will be close to what you'd expect to pay for your own medicine. A pet owner can purchase pet insurance for their four-legged family member as a precaution against emergency medical treatments that might otherwise hit hard, financially.

The price is worth every penny Photo: Avi Richards

One more consideration is travel. It's obviously more difficult to travel with a pet but it's also difficult to arrange for pet care while you're away from them. A dog walker might charge $20 per walk, a cat sitter who's not family will charge for feeding and changing litter. A pet boarding house has its own costs associated with it. On the other hand, pet-friendly hotels sometimes charge large fees to let your pet stay with you. Others, though, are letting pets in for free.

There are many costs—high and low, short-term and long-term—of owning a pet. While that soft-hearted voice inside you might think, anything's worth that cuddly companion, it's important to consider and plan for the expenses before jumping into a relationship. You owe it to that future pet to be prepared to give them the best life possible.


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Landscaping Options to Increase Your Home's Curb Appeal

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As anyone who has ever sold a house will tell you, you must prioritize curb appeal. Before a potential buyer even considers looking inside your house, they notice the outside first. Does it attract the right kind of attention? Does it take away from the feel you're going for? If you plan to sell sometime soon, you must think about these things. Here are some landscaping options to increase your home's curb appeal, so you can get the best price on your home.

Extensive Plants and Greenery

A barren front yard won't get you the price you want on your home. So, invest in at least a little bit of greenery to keep the surrounding area from looking too dead. Shrubs and bushes tie the house to the lawn that precedes it, and flower beds bring a pop of color to an otherwise drab structure. You can also strategically plant some trees to improve the overall feel of your home's exterior.

Lawn Care

As we mentioned, your lawn is one of the most prominent features of your home's exterior. A patchy, dried-up lawn will quickly drive your home's price way down. Some of the best landscaping options for your home's curb appeal involve improving your lawn for the next inhabitant. Overall fertilization, ground aeration, underbrush removal, proper mowing—all of these lawn care tasks contribute to a greener and more lively area that invites people to see your house, rather than stay away from it.

Paved Pathways

There's nothing like a broken and disheveled pathway to make someone think twice about buying a property. Just as you want the entryway in your house to be welcoming, so too should the pathway leading up to the house be inviting. The pathway from the street to your front door provides plenty of real estate to get creative with. You don't have to settle for a boring concrete pathway. Consider something more eye catching, like a cobblestone path or intermittent brick patterns, as a way to better welcome potential buyers.

Usable Outdoor Furniture

Landscaping doesn't just involve the ground you walk on; also included are the items you use as extras to the overall look. Outdoor furniture is one such extra that you don't necessarily need but can look quite attractive if done correctly. Staging is important with outdoor furniture. Old, broken-down pieces will only look like more work to the potential buyer. A few comfortable chairs, a bench, or a table with an umbrella really go a long way to improving your outdoor aesthetics.

A good tip for deciding on curb appeal items is to decide what you personally would want to see as a part of a welcoming home's exterior. You don't need to go overboard, but a little bit of forethought could net you quite a lot of extra cash in the sale.

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Common Mistakes Made When Giving to Charity

Unfortunately, giving back can sometimes go haywire. If you're ready to make a donation, first consider common mistakes made when giving back.

Many people strive to support their community by donating their time or their money. When you find a meaningful cause, you might be quick to cut a donation check. Though it's admirable to be quick to act charitably, you should be wary of several common mistakes made when giving to charity. Being mindful of these mistakes and learning tips for making informed charitable choices can help you make the most out of your generous check.

Acting Quickly Out of Emotion

Mission statements are meant to be compelling. If you're an emotionally driven individual, it's natural to pull out your wallet at the sight of a sad puppy on TV or when informed about food insecurity over the phone. Unfortunately, not all charities are as effective or official as they may seem.

Take your passion for helping others one step further by making sure your chosen charity is legit. Speaking with a representative, reviewing their website and social media accounts, and looking at testaments online can give you a better idea of whether the organization is worth your donation.

Forgetting to Keep Record of the Donation

Don't forget that you can reap some financial perks from giving back! With the proper documentation of your donation, you can acquire a better tax deductible.

If you donate more than $12,400 as a single filer or $24,800 as one of two joint filers, you're eligible to deduct that amount from your taxes. So, when a charity asks if you'd like a receipt of donation, always answer yes.

Donating Unusable Materials

Most charities can utilize a monetary donation—it's the physical donations that usually cause some issues. Providing a local nonprofit with irrelevant materials or gifting them with unusable products are surprisingly common mistakes made when giving to charity.

Always check your intended charity's website for a list of things they do and do not accept. The majority of places will provide a guideline to donating or offer contact information to clarify any questions.

Strictly Giving at Year's End

As more and more people get into the holiday spirit at the end of the year, nonprofit organizations see an influx of donations. While it's great to spread holiday cheer via a monetary donation, it's important to keep that spirit going year-round.

With regular donations, charities can more effectively allocate their annual budget. Setting up an automatic monthly donation with the charity of your choosing can maximize your impact. You can account for a monthly donation by foregoing a costly coffee every once in a while.

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How Much You Should Spend on Home Maintenance

Knowing how much you should spend on home maintenance each year is hard to figure out and may be preventing you from buying your first home. The types of costs you'll incur depend on the house you buy and its location. The one certainty is that you should start saving now. Read on to figure out how much to start setting aside based on the home you own.

The Age of Your House

Consider several factors when budgeting for home repairs. If you've purchased a new home, your house likely won't require as much maintenance for a few years. Homes built 20 or more years ago are likely to require more maintenance, including replacing and keeping your windows clean. Further, depending on your home's location, weather can cause additional strain over time, so you may need to budget for more repairs.

The One-Percent Rule

An easy way to budget for home repairs is to follow the one-percent rule. Set aside one percent of your home's purchase price each year to cover maintenance costs. For instance, if you paid $200,000 for your home, you would set aside $2,000 each year. This plan is not foolproof. If you bought your home for a good deal during a buyer's market, your home could require more repairs than you've budgeted for.

The Square-Foot Rule

Easy to calculate, you can also budget for home maintenance by saving one dollar for every square foot of your home. This pricing method is more consistent than pricing it by how much you paid because the rate relies on the objective size of your home. Unfortunately, it does not consider inflation for the area where you live, so make sure you also budget for increased taxes and labor costs if you live in or near a city.

The Mix and Match Method

Since there is no infallible rule for how much you should spend on home maintenance, you can combine both methods to get an idea for a budget. Average your results from the square-foot rule and the one-percent rule to arrive at a budget that works for you. You should also increase your savings by 10 percent for each risk factor that affects your home, such as weather and age.

Holding on to savings is easier in theory than practice. Once you know how much you should spend on home maintenance, you'll know what to aim for and be more prepared for an emergency. If you are having trouble securing funds for home repairs, consider taking out a home equity loan, borrowing money from friends or family, or applying for funds through a home repair program through your local government for low-income individuals.

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