Dollars and Sense: The Truth About Cats and Dogs Issue #39

Navigating tough financial times with your animal alter ego

By Jennifer Lizak
Published: March 1st, 2009 | 3:13pm

When faced with a failed final exam, a job layoff or a rough break-up, people turn to their pets for comfort, laughs, and unconditional love. Studies have shown that cats and dogs, bunnies and birds — even the friendly goldfish — can increase happiness and decrease stress, loneliness, and depression in humans. But what happens when the stress is financial and pet ownership is stretching your budget too thin? Here are some tips to help ease the financial burden — and keep you and Gertie the Goldfish together forever.

Buy With Care
One of the most significant ways you can ease the overall cost of pet ownership is by choosing wisely where you buy a pet. “Adoption fees are usually less than the cost of buying an animal and generally include the cost of spaying or neutering, microchips, and immunizations,” says Kathy Booton Wilson, a volunteer with Chicago Animal Care and Control. Plus, adoption provides peace of mind by not supporting puppy mills and other outlets that mistreat the animals they’re hoping to sell. “In addition to the financial benefits, adopting an animal can literally mean saving a life,” Wilson adds.

Health Is Key
Once you have an animal in your life, preventative health care is one of the most important things you can do to keep veterinary costs down. “Keeping pets healthy will limit visits to the veterinarian and reduce veterinary bills,” says Tania Hayes, hospital administrator for Blum Animal Hospital in Chicago. To find a vet, ask friends for recommendations or get a referral through your state’s American Veterinary Medical Association at avma.org. Pet insurance is another option; Brian Iannessa with VPI Pet Insurance says most people can get comprehensive pet insurance for less than the cost of their monthly cable bill. “People should consider pet insurance as part of their financial plan so that they aren’t forced to make a life-or-death decision for their pet with their pocketbook as opposed to their heart,” he advises.

Chow Time
Healthy food is important as well. While there are some companies marketing their products as organic, there are no standards for use of the word “organic” in pet food, so it may not always make sense to spend the extra money on fancy kibble. Instead, make sure your pet’s food features the label of the Association of American Feed Control Officials, which regulates pet food in the U.S., and check the ingredients list for fillers, which should be avoided. Some pet owners, scared by the recent melamine poisonings, have started making their own cat and dog food and treats. Recipes are available for free at nocans.com.

Reach Out For Help
For those facing the unbearable – foreclosure, job loss, eviction – who may need to give up their pets, both Wilson and Hayes urge that they reach out for help before making any rash decisions. “Those individuals who leave pets due to foreclosure need to understand that shelters are a better alternative than starvation and exposure to the elements,” says Hayes. Some veterinarians may provide subsided health care or temporary shelter for a few days. Selling or giving away a pet to a stranger may lead to the animal being abused or used as bait for dog fights. If you must surrender your pet, reach out to other trustworthy people who may know potential adoptive families, such as your vet’s office, regulars at the local dog park, and clubs devoted to specific breeds of animals.