Hey Dog Lovers,
Last week we indulge ourselves in talks about pet insurance and why it is something to consider with any pet. This week I wanted to keep the financial talk going and discuss having a financial plan for your dog is something to also consider.
We all strive to be responsible pet owners, creating a safe environment for our fur babies along with being vigilant about their health. But there is always the possibility that your pet will develop an unexpected illness or become accidentally injured, prompting an unplanned trip to the vet. This is where a financial plan comes into play.
To help you understand how expensive it can be to treat an unexpected illness or injury here are some actual costs associated with treatments:
- Cat bite abscess (Cat): $1,250
- Hit by a car (Dog) : $5,600
- Urethral Obstruction (Cat): $2,700
- Toxin ingestion (ate mushroom, dog): $6,500
- Heatstroke (dog): $4,200
- Gastrointestinal foriegn body surgery (ate a diaper, dog): $3,275
- Vomiting and Diarrhea (Pancreatitis, dog): $3,000
- Diabetic Ketoacidosis (cat) : $4,600
- Back Surgery for ruptured disc (Dog): $5,600
What’s the risk if I don’t plan?
The risk is that it leaves you with the heartbreaking decision to elect euthenasia even when the condition is treatable. Or worse case the owner has to take on credit card or loan debit plunging them into financial ruin.
Options for Financial Planning:
- Having disposable income- great, donate to charities that help people less fortunate
- Friends and family- Go fund me page, be warned it can cause a strain on relationships
- Credit card- take everywhere, watch limit as you may run out of credit
- Revolving door- third party line of credit- important to realize such credit lines as they can have significant interest free repayment period but you can’t miss a payment or have a late one or a huge fee is charged
- PennySaver- dedicated pet savings account – grows slowly but it’s something
- Pet Insurance (read last post from last week to learn more)
- Embrace Pet insurance
- Petplan pet insurance
- Trupanion pet insurance
- Charity funds for assistance – may only cover some of the bill not all depending on need of people with that charity and your status.
No matter what you choose just make sure you realize when you adopt or get a dog it is your responsibility to keep they healthy and make sure they have a good quality of life. That comes in many forms as well.
Make sure to check back weekly for Training Tuesdays and Thursday Thoughts
