When planning for pet care we usually only think about regular costs like food, grooming, and routine vet visits. But when an animal has a major health issue, we find ourselves in an emotional situation that can have serious financial consequences. In this video, financial therapist Amanda Clayman walks us through the steps we can take ahead of time, like buying pet insurance creating a dedicated emergency fund, and what to do if our pet receives a serious diagnosis and we are unprepared.
- Are you an animal lover?…For many of us, the rewards of having an animal companion…are immeasurable.…However, the costs can and do add up.…According to the ASPCA,…the average first year of costs for a medium-sized dog…is just over $1,500…and will run about $700 a year after that.…A cat is over 1,000 the first year…and about 650 a year after that.…Add in grooming, pet sitters or boarders,…dog walkers and the like,…and pet ownership becomes a major financial commitment.…
Thankfully, guidelines like these…can help us anticipate those regular costs.…But the bigger dilemma I see…is when a pet has a major health issue.…Just like for human healthcare,…major veterinary care can be extremely expensive.…Pet insurance is definitely a good idea,…but many common treatments are excluded from coverage,…especially if a particular problem…is known to be prevalent for your breed.…Even with coverage,…you may face thousands in additional costs.…If you have a pet or are considering getting one,…I suggest you follow these steps to be financially prepared.…
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