Furry or scaly, small or large, pets come in all shapes and sizes. They become part of your family and you shower them with love and affection just for being them. It’s great having a pet in the home and can make a huge difference in your life.

So, if you are thinking of getting a pet, either for the first time or just the newest addition, there are some things you need to consider, especially financially. Even low maintenance pets can make a dent in your budget. Do these following points to make sure you are ready to adopt your new family member.

Research Everything About Your Chosen Pet

Not all pets are equal, with some costing more upfront while others are more expensive later in their lives. It’s your job to make sure you know every necessary and potential cost for your pet. This can include equipment, food, healthcare, common issues, and even how to properly dispose of it at the end of the pet’s life.

The two best ways to learn about these costs is to research online and to talk with someone who already owns the pet. The online research can give you a starting base on what things you need and how much they’ll cost. Talking with someone with the same pet can give further insight into costs and details online research might not yield. This could include local challenges or deals they’ve found.

The One Time Costs

When getting a new pet for the first time, there will be some purchases that need to be made for the comfort and lifestyle of the pet. This could include a bed for a new dog, a scratching post for your new cat, a nice aquarium for a fish, and anything else the pet needs. Other one-time costs could include adoption fees, buying the pet, toys, and similar supplies.

When getting the one-time costs, shop around for the best deal and supplies that will last. It might look cute to get your new puppy a tiny little bed, but it will outgrow it quickly. Instead, buy a nice bed for the full-sized dog.

If you can’t afford these costs right now, start saving up for them. Set aside money to cover these expenses and even set up a long-running fund for your future pet. Pioneer’s Special Purpose Savings account is the perfect way to save up for these costs and have a running fund for pet-related expenses.

The Recurring Expenses

When writing up your new budget, you’ll need to include your pet’s recurring expenses. For most pets, this is going to be food, but there can be other recurring expenses to consider too. A fancy aquarium or terrarium could change your electric or water bills drastically if you aren’t prepared.

Another common recurring expense is care costs for your pet, like if you employ a dog walker or someone to clean up after the dog. If you can’t care for the dog during the day or for long stretches of time, you might need to pay for these services.

Health Care Isn’t Cheap

Just like with humans, pets need regular and emergency health care and you need to plan for both. Regular checkups to your veterinarian can cost an average of $55, but that’s just to see the doctor. Likely, you’ll need to do procedures that can cost much more. Getting a vaccination is around an extra $30, getting their teeth cleaned could range from $50-$400, and treatment for normal pet diseases can even reach around $1000!

Those expenses aren’t even considering emergency trips to the vet. An emergency stay at an animal hospital or a late-night vet visit can start around $800, and if your pet needs surgery, could cost several thousands of dollars.

A very smart idea is to purchase pet insurance, especially if your pet is prone to getting hurt, sick, or is getting older. Pet insurance can cover 60 to 90 percent of expenses and could mean a world of difference for you.

Covering Expenses When You Don’t Have the Cash

Even with proper budgeting and saving money every month, you might find yourself with a pet expense you can’t meet. Maybe you needed to dip into your pet expense fund to pay for something else or your pet had a bad accident with a large bill, but it’s not all lost.

There are two tools Pioneer offers that could help you with extra financial flexibility to cover these pet expenses. If you just need a little bit of flexibility, like buying a month of regular expenses like pet food, Pioneer's VISA credit card can give you just that. You can pay for those little costs and then when you have the money, pay it off.

The other tool is using a Pioneer Signature loan. This is great for those larger expenses like surgeries or pet procedures. Some veterinarians offer financings for these bigger bills but can come with higher interest rates. Don’t just agree to go with them, shop around for other financing options, and pick the one with the lowest rate. A Signature loan from Pioneer might be the better option than the options provided by the vet or pet hospital.

Learn More about Pioneer's Signature Loan!