Dogs can bring all sorts of joy to all sorts of people. They won’t discriminate or hold grudges. They just love endlessly and without reservation.
My parents own a yellow lab name Charles that I miss from time to time. However, the Cash Cow Couple will not own a dog and I’ll tell you why.
The financial side of dog ownership is a whole different animal (please laugh). You should consider a dog a luxury – yes, a luxury.
Why you ask? Well, unless you’ve stashed a mound of cash in the doggy fund, you should probably take a good hard look at the total cost of owning a new pup.
I’ve done some subjective research and I think I’m ready to share the true cost of owning a puppy.
Table of Contents
One Time Expense:
We will begin with a young, pure bread chocolate lab – just like that lovable guy above – $300 (often higher than this)
Bed, crate, toys, treats, leash, name tag – $200
Training Classes? – $100
1st exam (vaccines, booster shots, flea treatments) – $75
2nd exam (vaccines, booster shots, flea treatments) – $75
3rd round (spayed, micro-chipped (if the dog gets lost) third booster shots, and all sorts of flea/mite/puppy treatments) – $250
Food – $40/month
Treats – $5/month
Possible (likely) Expenses:
Sickness or surgery – $100-5000
Dog boarding during vacations or trips – $100/trip
Grooming – $100/year
More toys/stuff/junk – $100/year
Flea/Worm medicine – $100/year
Carpet Cleaning – $200?
$1000 up front, $45/month recurring (almost $8,000 compounded over 10 years), with a high probability of spending more.
If the dog lives more than 10 years, it will cost you well over $10,000 .
The Bottom Line:
If you love your dog, that’s great. I understand that pets can be valuable companions.
But if you are in debt, struggling to get by, or trying to save more money, AVOID owning a dog.
Are my listed expenses accurate? Can you afford a dog? Please let me know with a comment.