What’s the Real Cost of Owning A Pet?

The love of a faithful pet may seem priceless. But those little bundles of snuggles can come with a price tag that has a real bite! Philip and Julia break down all the costs to consider when adopting or buying a pet... and how to keep those costs in check.

Two Cents on Twitter: @twocentspbs

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Two Cents was created by Katie Graham, Andrew Matthews, Philip Olson CFP® and Julia Lorenz-Olson and is brought to you by PBS Digital Studios. We love dropping some knowledge on all things personal finance and helping you make better money decisions.

Two Cents is hosted by Philip Olson, CFP® and Julia Lorenz-Olson
Directors: Katie Graham & Andrew Matthews
Written by: Philip Olson, CFP® and Andrew Matthews
Produced by: Katie Graham & Amanda Fox
Images by: Shutterstock
Music by: APM

Works Cited:

[jesswalsh]

This is such a smart idea for a video. Almost everyone loves dogs, but I don't think I've ever heard anyone break it down like this. Food for thought. Thanks 2 Cents!

[Billionaireben]

I want a Golden Retriever, they retrieve gold; they pay for themselves!

[millertime]

But what's the cost to maintain that MUSTACHE.

[mascara]

The amount of joy and happiness my dog has brought into my life is immeasurable. She's saved my life in many ways. She is worth every cent I spent on her. I hope this video doesn't stop people from adopting or rescuing pets.

[AlexS-ojqf]

Even fish are expensive af (if you take care of them properly instead of putting them on bowls).

[quahntasy]

$42K for a dog? Guess I'll have make do with street dogs for now.

[brandonm]

You guys forgot that, Apartments charge monthly pet rent, usually 20 to $50 a month, and a deposit of 300 and non-refundable fee of 300.

[rea]

$42, 000 for a dog? I guess I'll just keep playing with my neighbors' dog for free!

[Nima-Salami]

Always wondered if I can afford a dog! This was really eye-opening! Thanks!

[siddharthkapadia]

Next is Whats the price to make a baby?

[caleb]

Man, it’s like Ryan Gosling grew a mustache and got married with Scarlett Johansson. Nice video by the way. Very informative.

[thomasocarroll]

I have house rabbits, they cost me next to nothing for food as they eat my left over salad (being pescatarian I eat a lot of salad and it saves on waste) the vets cost my £70 a year for there vaccinations for both of them. And I also can forage in the local forest for treats for them. Biggest cost is the amount of electrical cables they chew up. Needed to bunny proof the flat with cable protector because they will chew anything they can get there teeth on but the love I get is totally worth it.

[RJLpt]

What monster makes $400/Yr damage? LOL

[BreannLaFaye]

I have a 3 year old Mini Poodle! He got sick with Parvo before he turned two and cleared my savings account! Please, dogs are NOT Christmas gifts and should be thoughtout almost as much as taking on a child! Seriously! Really enjoyed this video ❤️

[midnightfox]

OMg thank you. I constantly tell folks I can't afford a dog yet and they laugh it off. But taking proper care of a dog is critical. I made up a budget for a dog and it came out to a little over $2, 000 a year. Of course, costs vary depending on where you live.

[minemm]

I find this video reassuring. I’ve always struggled with quantifying the cost of responsible pet ownership to avoid guilt of neglect. That’s extremely helpful, 18k a year & a 2k emergency fund is absolutely manageable. In comparison to the invaluable companionship & comforting a dog brings, that’s very little.

[eggs]

The value I get from having a dog completely disregards the money I would spend on my good boy

[feynstein]

This is why I have plants. They need only water. And the occasional NPK, which I have more than enough of. Plus, they can even bear fruit, which you can eat ☺️

[jarcher]

I bought my cat on Craigslist for $50. Picked him up in a Costco parking lot. Best $50 I’ve ever spent.

[AdultingShouldntSuck]

I really like the way you broke down how much it costs to own an animal. Most people never think about the ongoing costs of owning an animal… which can be quite expensive. If you don’t make much money then it’s just another thing that’ll make your life harder to afford.