Monday, February 27, 2012

The Family Budget Is Going To The Dogs…Literally

When people are strapped for cash, a careful review of the household budget is required. This means determining whether expenses are necessary. Are 300 television channels needed when you can save nearly 50 percent by cutting back to 100? Can the kids get another season out of their sneakers? These are some questions asked.

To save money, many families reduce entertainment expenses. Instead of going to the movies, they check a DVD out of the library at no charge. The annual tropical vacation becomes a day trip to a nearby lake. Rather than purchasing the latest tech gadgets for their children, parents buy a dog or cat to entertain them.

Dani Johnson says this last move may not be smart. A pet can be a great addition to the family, but it is also expensive. The pet industry is estimated at $55 billion and six in ten American families own a pet. Dani is considered an expert regarding family finances and on a recent segment of her radio show, she discussed the costs of pet ownership.

Families should think before they spend money to buy a pet. The cost does not end with the hundreds of dollars required to buy the animal. Pets require regular veterinary care and even routine visits and shots can be expensive. Costs add up when toys, treats, and food are taken into account. If the family is away from home for long periods, kennel , daycare, or petsitting costs come into play.

Many families do not realize home much money they spend on their pets. Added up, this could be enough to cover one mortgage payment each year. By thinking twice about purchasing a pet or being a smarter shopper when it comes to pet supplies, people can remove some of their financial burden in this difficult economy.

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