Owning a pet can be a rewarding experience, but it comes with a financial responsibility that should not be taken lightly. It costs about $1,520 a year to own a dog and $1,158 for a cat. On a national level, Americans spent a staggering $53 billion on their pets in 2012, according to the American Pet Products Association.
Pets are an important part of the family, and we all love spoiling our furry friends, but there are ways you can cut down the costs of owning a pet.
Consider pet insurance
The average dog owner spends $852 annually on routine and surgical visits. Insuring your pet can help ease the financial burden. The cost of pet insurance is not only affordable, it can also help you save on pet care through reimbursements. With VPI, monthly insurance plans might be less than you think: So how much is pet insurance for dogs, cats and other pets? It’s probably less than you think…
Monthly pet insurance costs
- Dog Insurance Cost: $38.58
- Cat Insurance Cost: $27.58
- Bird Insurance Cost: $15.75
- Exotic Pet Insurnace Cost: $9
- Reptile Insurance Cost: $8
When you compare that with the monthly cost of your pet’s food, it’s a small price to protect your little loved ones.
Save on pet medications
Buying generic medication for your four-legged friend is a great way to save money. You can use a free price comparison mobile app like GoodRx to help you find the lowest prices on pet medications.
Do research and create a budget
Many people don’t know all of the associated costs of owning a pet when they adopt one. Researching the annual expenses of pet ownership can help you plan your budget accordingly. Check out our infographic containing annual pet costs, pet insurance costs and more to find out the cost of owning a pet.
Apply for a credit card that rewards pet owners
Spread the cost of pet ownership over the course of the year using a credit card that saves you on pet costs. Our Nationwide Bank VPI VISA credit card offers some great benefits for pet owners:
• 0% APR on all veterinary costs for the first 6 months
• 2% cash back on purchases from participating pet stores
• No annual fee
• 0% APR on all purchases and balance transfers for the first 6 months from account opening
To find out more about the VPI VISA credit card or apply, call 1-866-439-3153