Chris Taylor

NEW YORK (Reuters), – Pamela Keniston has a new component to her monthly budget when she sits down to create it.

Hint: A short, blonde hair with a strong bark at bunnies.

The lovable “supermutt” – a mix of Yorkie, Maltese, Chihuahua and Dachshund – came into Keniston’s life in May 2020, early in the pandemic. Keniston wasn’t prepared for what it would cost.

Regular grooming to feeding, plus the extravagant stylings such as jackets, pajamas, and collars quickly added up. Throw in some medical needs – little Zuzu’s knees needed pricey procedures – and the financial realities of pandemic pets can sometimes take new owners aback.

“Having a pet is a big financial commitment,” says Keniston, a digital marketing consultant in Chapin, South Carolina. It really does add up.

Indeed, four-legged companionship is expensive: According to the ASPCA.

According to a survey, pet parents spend $4,500 per year on their pets’ care. This is 61% more than expected, according to OnePoll results, which were conducted in collaboration with MetLife (NYSE):

Indeed, almost two-fifths (55%) of those surveyed said their pets are just as costly or more than the dependents of humans. No wonder 60% said they tuck away $200 from every paycheck, specifically for their pet’s necessities.

What can pet parents do to be more responsible about spending and still not completely drain their bank accounts? Below are four ways to do this.

INSURANCE

According to the MetLife survey, 32% of pet owners find the idea of getting insurance overwhelming.

You should still look into insurance coverage. Without it you may be faced with difficult decisions and huge out-of pocket expenses. If your pet hasn’t had any serious health issues, you will get the most affordable prices.

Compare shop as you would with your personal policy. Consider factors such as deductibles or coverage percentage. For cats, it was $341.81 and dogs $594.15, respectively.

Although insurance can seem expensive upfront, it is often worth the long-term benefits. Little Zuzu’s knee problems – “luxating patellas” to be specific – ended up costing around $3,000 to fix, Keniston says. Thankfully, pet insurance just kicked in – and covered 90% of that bill.

PREVENTIVE CARE

You might find it tempting to postpone your annual exam if you’re trying to save money. However, think about the long term.

“Don’t skip annual wellness visits, because this is when your veterinarian can potentially catch problems that can be managed or reversed,” says Kristen Levine, publisher of the Pet Living blog and co-author of the book “Pampered Pets on a Budget”. “This will be less expensive than treating a health condition, possibly a chronic one, that was not prevented earlier.”

FOOD

Pet food has definitely gone “premium” in recent years, but that does not mean you have to pay five-star prices.

Levine suggests some ways to cut down on the cost of kibble by buying in bulk and storing in sealed containers. Comparison shop for best prices at Chewy (NYSE:).com or Amazon (NASDAQ:), or warehouse outlets like Costco (NASDAQ:) and Sam’s Club.

Be sure to make the most of coupon codes and promo savings. In addition, take advantage of the “subscribe and save” option for regular online purchases.

MEDICATION

One cost you cannot really avoid is medication – either for specific conditions, or for ongoing preventative care such as for fleas or heartworm. You have the option to choose where and how you want your medication.

“There are several websites that offer discounts on over-the-counter and prescription medicines, like Chewy.com and 1800petmeds.com,” says Brandi Hunter Munden, vice president of communications for the American Kennel Club. “There are also companies that have coupons, like GoodRx.”

As any pet parent knows, love and companionship can be worth a lot more than any cost. It will likely cost you more than what you think.

“It’s important to have the budget, and the resources, and the bandwidth in your life. And if you do — then you just can’t beat the love of a dog,” Keniston says.