Free Money Finance, one of my fave personal finance sites, has a post from last year about how the cost of a pet over its lifetime is $48,000. (This is an American website.) I’m sorry, but I’m just going to have to disagree.

Now I should point out that Free Money never claimed that pets cost $48,000. The reference is actually to an article on another website. That article says that, based on a 10-year lifespan for a pet, and costs of $400/m, you spend $48,000 for each pet. Come on! $400/m for a pet? I’m sorry, but that’s just so incorrect. Not a chance, unless you are pampering them above and beyond the love and care a pet needs.

My mother is on her 3rd dog, and there are 2 cats and 8 birds. She wouldn’t like it if I revealed her earnings, but they’re not much, yearly. She lives on savings, cash flow and very little earnings from her once-thriving business. But she loves her pets and even feeds them high-quality foods. If they cost her $400/m each, she’d never be able to have them.

Granted, vet bills have been a problem lately because a couple of the pets have been ill, but they still don’t add up to $400/m. She also manages to save some money in a couple of ways:

1. She feeds the dogs free-range eggs purchased in bulk from a Mennonite farm nearby. No hormones or pesticides.
2. She buys free-range chicken parts in bulk from a specialty poultry market. They are expensive for small orders, compared to a supermarket, but not when you buy in bulk. Again, no hormones or pesticides. And because these are food-grade, they can be eaten by both humans and dogs. The dogs are fed these raw, and they love it, especially the chicken necks.
3. She also buys large bags of carrots in bulk, as well as large bags of frozen mixed vegetables (carrots, peas).
4. Finally, she makes them pumpkin mash as well.

I suppose it helps that despite being a busy woman, she spends time preparing all this healthy food for her dogs. (It doesn’t hurt that my brother once had part interest in a dog-training school and knows a fair bit about healthy diets for dogs. They’ve verified the diets with the vet.) The healthy menu above is rounded out with some high-quality dog food, also purchased in bulk.

Because my mother saves a fair bit in dog food costs - and yet feeds them perfectly healthy meals - she has the money for their medication, which costs a fair bit. But as I’ve said, despite all the living creatures in her home, there’s no way she’s spending $400/m each on even just the sick older dog.

Again, Free Money did not say each pet costs $400/m, but does mention the amount of potential interest lost on the supposed $48,000. Yet, OLD studies show that people with pets live longer. Especially seniors. Consider that, and ask yourself if you would in fact lose all the interest. If your life is shortened by not having a pet, you are not earning any interest.

Tags: worldwealthview, world wealth view, pet costs, saving money