New Zealand is a land of pet lovers. A 2016 report found that 64% of Kiwi households own at least one pet, second only to the United States.1 The number of birds, horses, rabbits and other types of pets are on the rise, but cats and dogs are still our favourite furry companions.
Many of us consider our pets to be a part of the family, and would pay any amount of money to keep them safe, well cared for and happy. But what’s the real cost of pet ownership? Before welcoming a new pet, you may want to consider how Fluffy or Fido will affect your finances.
Purchasing and adoption
Buying a purebred pet can be expensive. Labrador retriever puppies, New Zealand’s most popular dog breed, can range in price from $900 to $2000. Some cats can be equally as pricy. Ragdoll kittens are typically sold for around $600-800. Older animals generally cost less, but a purebred adult can still cost several hundred dollars.
Adopting a dog or cat can ease some of the costs, as adoption fees generally include a vet check, de-sexing, some vaccinations, treatments for worms and fleas, and a micro-chip. SPCA in Auckland adopts dogs for $160-285 (senior dogs to puppies) and cats for $60-170 (senior cats to kittens). Enquire with your local animal shelter, as adoption fees can vary between cities and regions.
Other popular pet choices can also have a high initial price tag. Fish range from a few dollars for a common goldfish to thousands for more exotic tropical varieties. Rabbits are priced anywhere from $15-100, depending on the breed. Birds also have a large price range depending on the species and colouring. Parakeets and finches start around $15, but Macaws and Common African Grays can cost $800 or more. Horses and ponies can be the most expensive, with most breeds starting at $1000 and going up to $28,000!
Ongoing expenses
After you’ve brought your new furry friend home there are many ongoing costs associated with their care and happiness.
A 2015 survey by the NZ Companion Animal Council2 found that dog owners spent an average of $1200 caring for each dog. This includes food, veterinary services, toys and leads, registrations, and grooming. It also factored in training and the costs of boarding or minding whilst the owners travelled. Given that most dog breeds live about 13 years, that’s more than $15,000 over your pooch’s entire life!
The same survey found that cat owners spent about $670 on each cat they owned. This figure included needs such as food, veterinary services, litter, toys and grooming. The biggest costs are food and vet visits, costing around $500 and $240 respectively. Indoor cats can live up to 20 years, meaning you could spend over $13,000 caring for a cat.
Fish care was estimated at around $400 per year, rabbits around $600, and birds at $500. Horses and ponies cost $785 per year for each equine owned. This may not sound like much, but given that the average horse-owning household has three or four hooved pets, the expense quickly adds up!
More than just money
The love of a pet is in many ways priceless, but as we can see it also has a very tangible financial cost. If the price of getting and caring for an animal fits your budget, that’s great! Pets can make lovely companions for people of all ages.
But before you rush out to the pet shop or shelter, take a moment to consider an often overlooked cost of pet ownership: time. Animals that make great pets do so because they like human interaction. They often enjoy spending time with you as much as you enjoy being with them! Even animals regarded as solitary, such as cats, do need social interaction to help maintain their health.
Consider if your lifestyle is a good fit for pet ownership before bringing home a furry friend. If you work long hours, travel frequently, or are constantly coming and going, then animals that need a lot of attention, affection and training are probably not for you. Families should also think about who is really going to care for their pets. The kids might promise to walk the dog or feed the fish every night, but may quickly lose interest or forget.
Having a pet can bring years of joy to your home. Just remember that they can be a big commitment as well!
Do you own a pet? Share your animal stories with us on Facebook.
1. NZ Herald, Kiwis world leaders in pet ownership
2. The New Zealand Companion Animal Council, Companion Animals in New Zealand 2016
About Author: Momentum Life is a leading provider of Life insurance and Funeral insurance in New Zealand.
TAGS:
The content provided in this article is for information purposes only. The information is of a general nature and does not constitute financial advice or other professional advice. To the extent that any of the content constitutes financial advice, it is limited to Momentum Life products only and does not consider your specific financial needs or goals. You should consider whether the information is appropriate for you and seek independent professional advice, if required.
All product information is correct at the time this article was published. For current product information, please visit the Momentum Life website.
