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A Guide To Managing Your Money: Pets

The cost of living increase isn’t just a human problem. Our beloved pets are also generating more costs. In fact, it’s estimated that over a lifetime, cats cost £24,000 and dogs a whopping £30,000.

However, like all areas of personal finance, there are some money saving tips to help owners navigate rising costs and vet bills. Whether you’re trying to save on pet-related expenses or considering a pet, keep reading. We’ve curated a list of actionable tips to help you cut down on general pet fees.

Evaluate Your Pet Insurance

Pet insurance is an essential cost for owners, and it’s one that you shouldn’t have to give up. Even if your pup is happy and healthy, insurance is a must to protect them against the odds.

Before you commit to one brand, shop around and ask for quotes from different providers. The best pet financing for you could be different from someone else. Owners should also consider taking advantage of multi-pet discounts and annual payments, as these deals can shave off high costs.

Additionally, scrutinise which insurance packages your pet needs. Take into account their health history, breed and age — sometimes, insurers may try to sign you onto every package, even when not needed.

Consider Different Food Brands

Food costs are non-negotiable when you’re a pet owner, but they don’t have to be sky-high expenses.

Feeding your pet a well-balanced diet is the most important goal, and you can do this without opting for premium brands. Switch to non-branded pet foods, or mix these more affordable options with premium brands to make them last longer.

Owners can also opt for large bags of dry food. Though these are more expensive up front, they last longer than small wet food sachets.

Prevent Pet Loans

If your pet gets ill quickly, you may need a pet loan or credit line assistance to help you navigate the surprise cost.

While we can’t predict when a family pet will fall ill, we can take as many preventative health measures as possible. This includes monitoring your pet’s health, keeping up with regular vet appointments, ensuring your pet exercises, and providing them with a healthy diet. All these factors can also help you improve your pet’s quality of life, which is always the goal!

Other Pet Money Saving Tips

Creating a Brighter Future For Your Pet & Personal Finances

Costs have risen in all areas of life. But with the latest personal finance advice and management, you can manage your family’s finance for a satisfying future. From shopping around for different insurance packages to taking preventative actions, there are many actions you can take to shave off extra pet expenses.

Facing last-minute vet bills? Allow Polar Credit to help with quick and easy online credit lines. Applicants must note that credit lines aren’t suitable for all, and you must consider your ability to repay borrowed funds before applying.

Find out more about our credit lines on our FAQ now.

More Information

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Polar Credit: A New Way to Borrow

Check out our other great content in our Info Hub, with articles about the different types of credit products, money management tips and help with saving money!