NEW YORK, Sept 6 (Askume) – Joey Benson may have a career as an executive personal assistant in Dallas, but her real boss is a short, hairy man who likes to chew on tennis balls.
His name is Jasper and he is a Shih Tzu.
Although 11-year-old Jasper is the apple of Benson’s eye, the costs of keeping him healthy are adding up.
Gingivitis has led to regular teeth cleanings: the last two cost more than $1,000 because of tooth extractions. Grooming classes are held regularly, each costing from $60 to about $100.
Then there’s bladder stone surgery ($1,500), which requires expensive prescription food. After Benson lost her job, she turned to GoFundMe for help paying Jasper’s bills.
“This will be my last dog,” said Benson, who estimates she has spent more than $25,000 on Jasper’s care.
This is a common concern among pet parents, many of whom feel overwhelmed by the cost of caring for their pets.
In fact, according to the American Pet Products Association’s “State of the Industry” report, Americans are expected to spend $147 billion on pets by 2023.
This includes $64.4 billion for food and treats, $38.3 billion for veterinary care, $32 billion for live animals, supplies and medications, and other services such as food, grooming, insurance, walking and training.
Erin Witte, director of consumer advocacy at the Consumer Federation of America (CFA), said: “It’s troubling that prices are rising so quickly and so rapidly, leaving pet owners feeling like their pets are being taken advantage of.
Veterinary care appears to be the center of inflation. According to the Bureau of Labor Statistics, the cost of veterinary services is expected to increase 6.2% from July 2023 to July 2024.
Senator Elizabeth Warren has accused private equity firms of buying up veterinary practices and leaving the industry in fewer hands.
“These companies spend billions of dollars buying up veterinary clinics and then profit by undermining the care that pet owners need,” Warren wrote in a recent letter to fellow senator Richard Blumenthal.
According to a recent USA Today survey of dog owners, 91 percent of pet owners experience financial stress due to the cost of pet care.
Here are some tips to keep you and Fluffy or Fido financially healthy.
Beware the hard sell
Obviously, we all want to pamper our pets, but the reality is that we don’t have unlimited money. Please make your decision based on your pet’s actual needs.
“I adopted a puppy last week and immediately received a sales quote for a monthly ‘pet benefit plan,’ a subscription plan that claims to cover routine visits and vaccinations, but does not,” said CFA’s Witt.
What does Witt recommend? Create a savings account for pet care and put money into it each month instead of paying for a health plan.
Think Carefully About Insurance
The growing field of pet insurance is certainly an option and can help reduce large expenses.
Denver communications consultant Maureen Carrig rescued Sasha, a Yorkshire/schnauzer mix, in 2020 after the pup was diagnosed with cancer and had to undergo two operations. She said her policy with Trupanion “fortunately covers a pretty large amount.”
Just be clear about what the policy covers and what it doesn’t. For example, many policies don’t cover routine inspections. The expense they bear may be applied to the first deductible amount, which may be high.
Of course, insurance costs are rising, too. According to the North American Pet Health Insurance Association, the average accident and illness premium for dogs in 2023 will be $676 per year, or $56 per month. That’s compared to $595 in 2019.
Research your options
If you are unable to afford proper care for your pet, don’t lose hope. Enter your zip code on Pet Assistance Finder to see what “economically friendly” resources are available in your community .
Emergency veterinary assistance is often provided free of charge at animal shelters, community clinics, and veterinary schools. CheckHumane Society Resource Page .
“Some clinics in certain areas offer reduced fees based on income, and many veterinarians offer the option of spreading the fee out over time,” says Melissa Carlo, a financial planner in New York City.
“ There are financial aid options like The Pet Fund and RedRover , which are organizations that take the issue seriously and often have enough funding to help people care for their animals rather than abandon them.”
