We gained Pinky the cat back in the summer of 2005 when we visited a family’s farm on the 4-H tour. My son and daughter begged me to let them adopt the little white barn kitten with the pale pink ears. Although she technically belonged to my children, she continued to live with me after both kids graduated from high school and left for college. We lost her last year to illness after 12 years as our furry companion.
Almost 85 million households in the United States own at least one pet. For many people, pets are not just companions — more than 63 percent of pet owners consider their pets to be a part of the family. Dogs and cats are the most popular, but fish, birds and reptiles are also common household pets.
Regardless of the type of pet, the average American spends approximately $500 per year on pets — more than they spend on budget categories for hobbies, toys and footwear. In addition to the basic cost of the pet, other pet-related expenses may be overlooked or forgotten in family budgets.
As with other categories of the household spending plan, it is wise to include and track pet expenses in the family budget. A new publication from K-State Research and Extension released just last month can help families keep an accurate record of their pet costs. You can find the new publication entitled “Dogs, Cats and Birds, Oh My! Factoring Pet Costs into a Family Budget” by searching for MF3368 at the KSRE Bookstore website at www.bookstore.ksre.ksu.edu.
If you’re considering adding a pet to the family, or just trying to get a better handle on where your money goes, keep pet expenses in mind. Costs for regular services and products such as licenses, annual vet visits, medications, dental cleanings and pet food add up, and other specialty items and services for pets are growing at an increasing rate.
In addition to the regular costs of pet ownership, there are periodic pet costs to consider as well. If you’re a new pet owner, think about what you’ll need to house and protect your pet. For example, will you need an outdoor dog house or an indoor crate or both? Large or active pets may require you to add a fence to your property, and some families supplement a physical fence with an electronic barrier to keep their pets safely at home.
If you travel, it is important to factor in the costs for pet care while you are away from home– with or without your pet. The cost for a pet sitter or kennel service can be significant if you leave your pet behind, while traveling with your pet requires a secure pet carrier, extra supplies for feeding and waste disposal and possible pet deposits and/or transportation fees when the pet is along for the trip.
Other pet costs may include pet insurance and end-of-life considerations. Pet insurance is similar to health insurance for humans, covering illness, accidents and emergencies, but there are some policies designed to help pay for preventative care also.
When beloved pets pass away, there are certainly emotional costs, but also some financial costs as well. Pet owners may incur charges for medications, body disposal, burial or cremation and other costs.
So, is the extra cost of pet ownership worth it? Research has shown that cat and dog owners have fewer medical appointments and are less likely take certain medications than non-pet owners. According to the CDC, pets can decrease several chronic health problems, including blood pressure, cholesterol levels, triglyceride levels and feelings of loneliness.
The decision to add a pet to the household varies with each person or family and their specific circumstances. If you decide to get a pet, be realistic about the potential costs up front and track your pet expenses like you would other spending categories so you have good financial information. The Pet Budget Worksheet included in the new KSRE publication can be a useful tool for keeping accurate financial records related to the costs of pet ownership.

Linda K. Beech is a family and consumer sciences agent with the Cottonwood District K-State Research and Extension. Contact her at 785-628-9430 or email lbeech@ksu.edu.