Fur baby or financial millstone?

Whether it's puppy love or a kitten craving, owning a pet means committing to long-term costs.

- NICOLA FIELD

My friend Rhonda recently raved about the $40 shampoo she purchased for George – the love of her life. “The fragrance is amazing. I just want to run my hands through his hair,” she said, giggling. “Awesome!” I gushed, inwardly cringing at the expense. I’m not convinced her extravagance will be appreciated, let alone noticed. George is not Rhonda’s husband. He’s not even her boyfriend. George is a Cocker Spaniel.

Rhonda is not alone. Pets outnumber people in Australia by about three million. RSPCA data shows close to one in two of us owns a dog. A further one in three shares their home with a cat. Many more own birds, fish or reptiles. Add in the 400,000 people who keep backyard chickens, and it’s easy to see how the nation’s 29 million pets play a huge role in our lives.

They can also punch a big hole in our household finances.

Hard-claw spending

Commonwealth Bank research found that pet owners lavish about 10% of take-home pay on their pets. All up, dogs cost about $4247 annually, while cats demand a yearly spend of about $2718. (See table, right.)

It’s a meaty chunk of cash, so where is all the money going? As the table shows, food is the main expense, followed by vet bills – more on this later. However, we are also forking out on pet-related costs that would have been unthinkable a generation ago.

Gone are the days when Spot would be home alone for 10 hours each day, digging holes in the backyard while his owners were at work. Doggie daycare is thriving, with half-day ‘play sessions’ often costing upwards of $50. The websites of providers use terms, such as ‘enrichment’ and ‘socialisation’, that you’re more likely to see on childcare organisation’s website.

No time for walkies? No problem. Professional dog walkers will happily step in at a cost of about $30 per walk.