Staff
The ASPCA says that, over their lifetimes, medium dogs can cost $6,565 and cats can cost $7,640, reports millennialmoneyman.com.
For this reason, you may want to reconsider adding a furry friend to your family.
However, if you already have pets and are struggling financially, millennialmoneyman.com suggests six steps to cut down on expenses. These include:
- Setting aside an emergency fund to cover pet sitting costs and vet bills; and
- Assessing the price of pet food based on price per ounce.
Check out the rest of the tips. Also, click here to get a breakdown of the costs of owning other pets, including birds, rabbits and fish.
Read:
More U.S. retirees becoming pet owners