Once my wife and I are completely out of debt (in 5 or 6 months!), I think we would really like to be the proud parents of a new puppy. At this point, we are still struggling with what kind of dog we are looking for. While she would like a puppy that is barely visible to the naked eye, I would really love something a little larger like a golden retriever. I’ll give you a visual here; I’m 6’8″ and the dog she wants will probably fit in my hand. Can you imagine me walking around the city with a Yorkie? Oh well, it’s a good thing I don’t get embarrassed easily.
While I might look ridiculous with this dog, I know that I’ll learn to love it. My main concern though, is the cost. I recently read an article lately that said babies cost about $14,000 a year! Are dogs just as expensive? If so, I’d rather pet sit.
I have done a little research, and it seems like the estimated cost is between $600 and $1,000 a year. To be honest, I was actually shocked at how low that estimate was.
Here’s a general breakdown of the expenses (per year):
If you are currently in debt and trying to fight your way out, I would not recommend adding a pet into the equation. They bring many unexpected expenses into the budget, and would most likely harm your efforts. For us, we’ve both wanted a puppy for a while and it’s going to be our get out of debt celebration! It’s going to be a momentous occasion, and we’ll be in a great position to add a new member to our family.
If you would like to read some other articles about puppy costs, there are some great in-depth articles that I have linked below.
Do you have a puppy? What would you say your expenses are? I would really like to know.
My name is Derek, and I have my Bachelors Degree in Finance from Grand Valley State University. After graduation, I was not able to find a job that fully utilized my degree, but I still had a passion for Finance! So, I decided to focus my passion in the stock market. I studied Cash Flows, Balance Sheets, and Income Statements, put some money into the market and saw a good return on my investment. As satisfying as this was, I still felt that something was missing. I have a passion for Finance, but I also have a passion for people. If you have a willingness to learn, I will continue to teach.