# Summary

The article discusses the significant financial commitment associated with dog ownership, ranging from initial costs to annual expenses, and the long-term impact on net worth.

# Abstract

The writer shares their personal experience after adopting a "pandemic puppy," revealing that the expenses of dog ownership extend far beyond the initial cost of acquiring the pet. These costs include food, grooming, training, and healthcare, with the potential for large vet bills due to unexpected health issues. The article cites various sources to provide an estimate of annual dog ownership costs, which can range from $1,500 to $9,900 USD, not including potential long-term medical expenses that could significantly increase the cost. The author also compares the cost of owning a dog to the expense of raising a child, emphasizing that decisions about pet ownership should not be taken lightly due to the substantial financial implications, which can affect one's retirement savings. Despite the costs, the article acknowledges the difficulty of quantifying the joy and companionship that a dog can bring.

# Opinions

- The author implies that getting a dog during the pandemic was a understandable response to social isolation but also an "anti-net-worth hack."
- There is a suggestion that purebred dogs from breeders have seen a surge in prices and waiting lists, possibly due to increased demand during the pandemic.
- The author expresses sticker shock at the cost of pet insurance, which they found to be more expensive than their home insurance.
- Purchasing a dog may come with a long list of necessary items and services, which the author lists in detail, highlighting the extensive nature of these expenses.
- The author uses humor to emphasize the high costs of dog ownership, going so far as to joke about the black market value of their kidney in light of potential vet bills.
- There is an acknowledgment that, despite the financial burden, the emotional bond with a pet can make the expenses seem worthwhile.

Dogs Are More Expensive Than You Think

The dollars & cents of our furry friends

I finally gave in last year. I got a dog.

Yup, this mythical creature right up here is mine.

(A so-called “pandemic puppy,” if you will. She’s a lot bigger now.)

Before we really get into it, I should mention, I quite like helping people save money, which probably makes me a gigantic hypocrite.

Getting a dog has basically been the biggest anti-net-worth hack I could possibly come up with!

This may be old news, but don’t forget, the real winners from COVID-19 were the dog breeders, with prices for popular dog breeds doubling and waiting lists increasing fourfold.

And I get it…social isolation sucks; I’m still basically a Level 100 hermit myself.

So I don’t blame anyone for jumping on the dog bandwagon. Along with a generous bundle of responsibilities, you’re literally buying yourself some social interaction.

Now, what could be so bad about getting a dog!?

Newsflash: the financials!!!

If you get a dog, I mean, what have you actually signed for?

What is that little ball of fur going to cost over the next few years?

Well, let’s dive in and find out…

Lay it all on me

So when it comes to owning a dog, what sorts of costs are there?

…There are…several. Best grab a thick pad of paper and a pen. Maybe two. We’ve got:

The creature

Duh, the dog — unless you live on a farm and it just shows up — I mean, you definitely save if you go with an animal from a shelter, and that’s a great thing to do, but manage your expectations… don’t expect purebred Priscilla to be available at your local Pet Valu

The things

Food, food, and food (dry cereal-like kibble, and possibly raw food)
Biscuits
Treats (those are different than biscuits…who knew)
Do kindly note we haven’t moved past food yet
Toys, especially the kind you can step on in the middle of the night
A crate that’s bulletproof, or should I say chew-proof
Spare bedding for every room in the house (for accidents)
Grooming gear: scissors, combs, brushes (maybe also restraints if you’ve got a live one, like me)
Training pads, poop bags (oh, I think we all know who’s the boss here)
Couch protectors
Dog gates
Bowls, leashes, collars, clickers
And more…

By the way, that’s just the things. And then there’s…

The services

Vet bills
You might invest in pet insurance to offset those (I got quotes and immediately gave up…it was MORE THAN MY HOUSE INSURANCE)
Grooming appointments for when you can no longer deal with the endless fluff factor
Training classes, mostly for you as the owner
Dog walkers
Kennels, or friend bribery checks, for pet-sitting when you’re away on vacation

As you can see, it’s a pretty long list.

There’s clearly a lot that goes INTO having a dog…and a lot that comes OUT OF having a dog…(now don’t pretend you don’t know what I mean).

I’m still an amateur dog owner, having just had mine for a little over a year now. I’m not what you’d call an expert just yet!

So then let’s turn to some of the experts and see what they have to say…

Spruce Pets puts annual dog ownership costs at between $1,500 and $9,900 USD.

Ouch!

May as well be taking up smoking…that’s only $2,292 a year, according to the National Cancer Institute.

Now, the estimate from Spruce Pets has a pretty serious allocation to dog walkers. If you’re still working from home, at least part of the time, you might be able to discount that aspect a little. That’s at least a bit of good news.

How about we get another view?

The Canadian resource, Rates Supermarket, estimates a new puppy will cost $1,326 for vet costs; $1,190 for essentials like food, toys, and the crate; and $1,418 for training, licenses and insurance.

That’s a total of $3,934 for a puppy, all in Canadian dollars; let’s call that $3,000 USD for the Americans.

Oh yes, and that’s just the first 12 months.

😭

Shall we keep going?

We also have this fine dog named Lido, which made the Global News.

I’d hope this is the worst case scenario…

Lido sadly had some health problems, running up $800 in monthly vet bills, plus $8,000 for pancreatitis, and $15,000 for cancer.

All-in, Lido’s poor owners were on the hook for $35,000+. Now, fortunately they paid for pet insurance — INSERT PET INSURANCE SPONSORSHIP HERE — and their out-of-pocket costs end up being a slightly less gut-wrenching $14,820.

Be right back, just checking the black market value of my left kidney.

Fido the budget breaker

So…wow…we’re somewhere between $2,000 to $15,000 per year for a dog.

That. Is. A. Lot.

Being a finance nerd, I like to think about things in terms of their future value, had I saved that money and invested it instead.

So, on the low end, if you spend $2,000 a year on your dog for 10 years instead of investing that money, after 30 years of compounding at 8%, you’d be $75,000 poorer.

But maybe you end up paying more like $4,000 a year for 12 years; now that’ll set you back over $170,000.

It goes without saying, pets definitely put a solid dent in your retirement funds.

But, on the plus side, that’s less than you’d pay for a child!

MoneySense puts total lifetime costs of a kid at $257,364 in 2018 Canadian dollars.

Ignoring inflation for a second (famous last words)…that’s $14,298 per year up until the age of 18!

😭😭😭

All I’m saying, is that whether you’re getting a puppy or a kid, you don’t want to make these decisions lightly when it comes to your wallet.

There’s a heck of a lot more to it than the numbers, but they sure are an important consideration, aren’t they?

So what about me? How much am I going to pay per year? Will I regret getting a dog because it’s so expensive?

Aside from the cost of the dog, within a few weeks, I easily poured in $1,000+ just for the crate, food, treats, toys, and dog gates. That was just the up-front costs, getting ready to accept the little critter into my home.

I have no idea where the costs will level out long-term — it seems like it can vary a lot depending on different dog breeds, your product choices, and whether or not big medical costs crop up. Fingers crossed.

So, yeah, I just don’t know yet.

But there is one thing I do know.

It sure is hard to argue with a face like this: