In Australia, it is estimated that 63% of households have some type of pet. 53% of those have got either a cat or a dog. So it’s clear Australia is a popular place to own a pet, but how much money should you allocate each year to have one? Here is a rough guide for the most common pets!
Fish – The Cheapest Option! It’s true, the size of your animal does directly relate to the amount you will need each year to care for it! That’s why a fish is a very good way to start, especially with kids who can lose interest quite quickly in the day-to-day care of pets. Here’s what you would could expect to spend on a fish:
SET UP COST: Aquarium/ filters/fish bowl RANGE: $30 – $300
FOOD PER YEAR: $35
WATER TEST KITS/SUPPLIES FOR TANK PER YEAR: $65
VET COSTS: NIL – very few people take their fish to the vet!
AVE. YEARLY COST: $50
Bird If you don’t want the responsibility to exercise your animal, and love hearing morning tweets, perhaps a bird is an ideal pet for you. Here’s an idea of what they will set you back.
SET UP COST: Cage/swing/feeder etc. RANGE: $35 -$500
FOOD PER YEAR: $135
AVE. VET COSTS: $275
AVE. YEARLY COST: $300
Cat If you want affection, but don’t want to be tied to exercising a pet, a cat may be your best choice.
SET UP COST: Litter box, cat litter, post, collar RANGE: $200 – $650
FOOD PER YEAR: $300
AVE VET COSTS: $300
AVE. YEARLY COST: $900
Dog The biggest size pet, and the one that generally needs daily exercise. If you are ready to take on the pet that requires the most attention, here is what you will be looking at spending!
SET UP COST: bed, collar, bowls, leash RANGE: $250 – $1000
FOOD PER YEAR: $410
AVE. VET COST: $560
AVE. YEARLY COST: $1100
So, good luck if you a deciding on what pet to choose. Don’t forget there are even more things you can consider, including pet insurance and pet loans, so before you head to that pet shop make sure you find out about these too!
It can be expensive to borrow small amounts of money and borrowing may not solve your money problems.
Check your options before you borrow:
For more information about other options for managing bills and debts, ring 1800 007 007 from anywhere in Australia to talk to a free and independent financial counsellor.