Saturday, January 10, 2015

Can You Afford Your Dog? Financial Peace of Mind

I recently read a great post on my friend Kimberly Dickerson's blog SAVING MORE THAN ME.  Her post was about what gives people financial peace of mind.  She discussed the need for a financial Emergency Fund as a cushion for life's unexpected blows.  If you are a Suze Orman fan as I am, you know exactly what that means!  When Kim was diagnosed with Multiple Sclerosis in 2008 she had to abruptly leave her job.  Her emergency fund helped sustain her in the initial months.  Kimberly writes beautifully not only about how she deals with the challenges of MS, but about various Health and Wellness topics, her Pets, Travel, and other interesting topics.

Phoebe sometimes gets chilly at night so I bought her this fleece jacket
After 20+ years in the financial industry, I'm always drawn to topics about money.  While most people are watching American Idol or The Bachelor, I am watching the Suze Orman Show, Mad Money, and American Greed. I'm always touting the importance of having an emergency fund for financial peace of mind, so Kim's post really struck a chord with me.

What does this have to do with dogs, you ask?  This is still a dog blog right??   After reading Kimberly's wonderful post, it got me thinking about the cost of dog ownership and how much I spend on my own dogs.  Phoebe has a wardrobe almost as extensive as mine and Isis probably has more bling than Princess Kate!  The pet industry is a nearly $60 Billion dollar industry, but for many people the cost of pet ownership is daunting and can be a deterrent to adding a Furbaby to their family.  But there is a way they can add a dog to the family and still have peace of mind!

Phoebe sporting her new Winter coat, which I bought for a trip to Sedona


Many people don't get a dog because they're afraid they can't handle the added expense.  My sister is one of those people.  She desperately wants a puppy, specifically a French Bulldog puppy.  More specifically, a fawn colored Frenchie whom she will name "Butterball".  But she's close to retirement with limited financial resources.  The cost of owning a dog scares her!

Expanding upon Kim's discussion about having an emergency fund, why not have a Puppy Fund!?  My sister could spend the next a year funding her Puppy Fund.  This will give her the money for the puppy's adoption fee and basic supplies such as food, bowls, a bed and toys.  Basic vaccinations and spay/neuter would likely be covered by the adoption fee, and if she saves a little more she would have a cushion for trips to the vet as needed.  If she continues funding her Puppy Fund monthly after getting the puppy, it will offset the cost of ongoing vet care or a potential pet emergency. 

How cute is Phoebe in her animal print sweater w/ pink bow?  So can you tell that fashion is my pet-spending Kryptonite?
Well, I called my sister with my puppy proposition and she loved it!  She's wanted a dog for so long.  She's going to start a Puppy Fund right away!

We talked about how, with her limited funds, she'd even be able to contribute to a Puppy Fund.  We talked about making tiny cuts to her spending, putting small amounts of money aside each week.  Saving small change is one way she'll do this.  Her change purse is always full so each day she'll dump change into a box.  We once saved nearly $400 in less than a year just by dumping change into a box which we used to pay for the gas on our first cross country trip.  My sister indulges in lattes at Starbucks twice a week.  She'll still get to go to Starbucks with friends, but she'll drop down to less expensive regular coffee for those visits, banking $4 per week ($208/year).

As her loving sister, I will contribute a puppy training class and spoil my new puppy niece or nephew with lots of extra fun stuff too!  She can ask for Pet Insurance as a birthday or Christmas gift for additional peace of mind. 

When the time comes, I'll make sure we scour shelters, PetFinder.com, and Bulldog rescues in her area so she responsibly acquires the Frenchie of her dreams.  At this rate, she'll be able to adopt a puppy in about a year.  I can't wait!

My collection of collars for my dogs.  There's a lot of bling there!  In my defense, I did buy a few of them at the dollar Store!
Check out Kimerly's blog post on the importance of having an emergency fund and how it gives her peace of mind.

What do you think about starting a Puppy Fund for someone who wants a pet in their life but thinks they can't afford it?  What's your pet spending Kryptonite?  Leave us a comment, we always want to hear from you!

THIS IS A RASCAL AND ROCCO BLOG HOP!!


18 comments:

  1. This is an excellent post ~ I think it's a wonderful, RESPONSIBLE, idea to start a puppy fund prior to adopting your new best friend. We spend about $300 on our 2 pups every month, which includes high-quality food, some treats & accessories, as well as dog insurance with PetsBest.

    ReplyDelete
    Replies
    1. Thanks, I'm glad you liked it. I do think it's a good way to responsibly prepare for a new puppy or dog. I'm always amazed at home much the money adds up each month! Thanks for stopping by the blog!

      Delete
  2. I think it is a terrific idea! It's never too late to start a fund. It's amazing how fast change adds up to dollars. ☺

    ReplyDelete
    Replies
    1. Glad you think so, thanks M.K. You're right, it really is never to late to start saving & small change does add up to dollars quickly! Thanks for stopping by!

      Delete
  3. This is such a great idea. Small changes can add dollars quickly to a puppy fund. What I enjoyed most about this post is the responsibility of understanding puppies cost money, and it is irresponsible to just get a dog or puppy because you want one. They are a lifetime commitment. I hope everyone can see how important it is to consider the cost before they bring home a new fur baby. Spread the word so we have more responsible pet owners.

    ReplyDelete
    Replies
    1. You are so right, Suzanne, it isn't responsible to bring home an animal without realizing that there are costs & that it's a lifetime commitment to a living breathing being. Thanks for stopping by and for your input!

      Delete
  4. That is wonderful! Great idea.
    Awesome read today!!!
    ღ husky hugz ღ frum our pack at Love is being owned by a husky!

    ReplyDelete
    Replies
    1. Thanks Jenna, I appreciate that! Thanks for stopping by today!

      Delete
  5. The only way we have peace of mind is by having pet insurance. Then I know I can always afford to give my pets the vet care they need. Great post!

    --Wags (and purrs) from Life with Dogs and Cats.

    ReplyDelete
    Replies
    1. Pet insurance is a such a great thing to have, it helps offset emergencies. Thanks for stopping by Susan!

      Delete
  6. Good post, with lots of food for thought. I can't seem to save for that rainy day, and have used Care Credit a couple of times for pet emergencies. As my career has always been in the veterinary field, I know I am fortunate to count discounted vet care as one of the perks...but it still can add up.

    ReplyDelete
    Replies
    1. You're so lucky to be able to get veterinary discounts. I know how hard it is to save, sometimes the tiniest savings can really add up over time & be a big help. Thanks for stopping by.

      Delete
  7. Replies
    1. I like to too, so did my sister! Sorry I have some very late responses to comments, time kinda slipped away from me this last week or so. Thanks for stopping by Jan!

      Delete
  8. This is an awesome idea. I plan on getting a new puppy next year, but in addition to the purchase it will also include a flight cross country. Setting up a puppy fund is a great idea, then it won't be such a big hit., oh fyi all my current dogs are rescue, I love agility so much and want a very physically sound Shih Tzu, and I've never had a puppy 12 weeks old :)

    ReplyDelete
    Replies
    1. Oh wow, cross country air travel can be Expensive! So glad you're getting a new furbaby though - that's so great! Start that Puppy Fund now, you'll need it! Thanks for stopping by.

      Delete
  9. Great post! Bringing home a new dog, whether it’s a puppy or an adult, is like bringing home a new baby – you need to be prepared, and you need supplies. So, I was looking for articles on buying pet supplies online and then I came across yours inspiring read. Thanks!

    ReplyDelete
    Replies
    1. You're so right, it takes a lot of planning & a lot of gear! Thanks for visiting my blog Simon, it's nice to connect w/ you!

      Delete