How to budget for your pet’s veterinary care

The year is filled with recurring expenses many households don’t always budget for, like dentist appointments, new car tires and visits to the veterinary clinic. With some basic planning, you can spread the cost of veterinary care over the full year instead of having medical bills become a source of financial stress. Here’s how.

The cost of routine veterinary care

According to the Ontario Veterinary Medical Association, dog owners can expect to spend an average of $1,350 on veterinary care per year. Parasite prevention is less expensive for cats, and Lyme disease is a rare occurrence in felines, explaining the slightly lower total of $1,148 for cat owners.

Use the chart below to plan your expected yearly costs in routine veterinary care, and divide this amount by 12. The result is how much money you should set aside each month to cover regular veterinary visits. Alternately, if you’re paid every two weeks, you may divide this amount by 26 to match your income schedule.

Source: The Annual Cost of Owning a Dog, The Annual Cost of Owning a Cat, Ontario Veterinary Medical Association

Adopting a kitten or puppy? Budget a little extra.

The first year of pet ownership is more expensive. While you save money on things like dental cleaning and blood work (which shouldn’t be necessary yet), other procedures such as having your furry friend spayed or neutered and microchipped will require additional visits to your veterinary clinic. Consider the average extra costs below before adopting a new pet.

Source: Based on The Annual Cost of Owning a Puppy, The Annual Cost of Owning a Kitten, Ontario Veterinary Medical Association

Plan for emergencies

Hopefully, your pet will live a long, happy and healthy life. But accidents and unexpected illnesses may happen at any age, and an emergency vet visit may cost up to a few thousand dollars. If you don’t have access to an emergency fund for such situations, consider purchasing pet insurance, which provides immediate protection in return for fixed monthly payments.

Take dog size and breed into consideration

With dogs, the cost of veterinary care can vary greatly depending on size and breed. It takes a much larger amount of anesthesia to prepare a Bernese Mountain Dog for surgery than a Pomeranian! Similarly, certain dog breeds can be more prone to specific health issues, such as respiratory problems in bulldogs and ear infections in cocker spaniels, requiring additional exams and treatment.