While research has shown that bringing a pet into your home can do wonders when it comes to lowering blood pressure, lessening anxiety and even boosting your immune system, anyone who has ever owned a pet can attest to the fact that it’s not a cheap undertaking. From food to toys to veterinary costs—and everything in between—owning a pet is an expensive proposition. And the money adds up quickly through the course of a year, let alone a lifetime.
Before you surprise your family with a new pet, it’s crucial that you understand the finances associated with owning—and caring for—your new family member.
The following chart, from the American Society for the Prevention of Cruelty to Animals (ASPCA), provides an accurate look at the annual costs associated with caring for a variety of species.
Small Dog $1,314
Medium Dog $1,580
Large Dog $1,843
Cat $1,035
Rabbit $1,055
Guinea Pig $705
Small Mammal $340
Small Bird $270
Fish $235
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