Got a New Pet

Got a New Pet

Primary Text Separator for Milspouse Money Mission, Financial Education for Military Spouses

Expanding your family to include a fuzzy friend is so exciting! But it can also be expensive. Having a high-energy breed, we shopped for pet insurance early to protect against those rare but large expenses like surgery. You should get insurance for things that could be financially devastating for you, and at this point in our lives, emptying our savings for our dog Odin isn’t ideal. Our plan costs around $20 per month with a $500 annual deductible which fits into our budget.

Shop around for plans that allow you to claim preventive care visits and tailor your plan to your pet. Luckily, we haven’t had to max out our deductible yet, but we feel much safer knowing we are protected!

MilSpouse Money
Mission Response:

It looks like your dog is a great buddy to have outdoors, Tate! Thanks for sharing your suggestions. Pets can be a great addition to your family, just make sure to include initial and ongoing costs in your budget for your furry or feathery friend! Initial costs can include adoption or purchase fees and equipment. Ongoing costs include food and accessories, veterinary care, and boarding or caretaking fees when you’re traveling. Consider your military life as you bring a new pet into your family. Think about how a PCS or deployment could impact your pet and plan for it.

Tate brings up a great suggestion regarding pet insurance. The purpose of insurance is to provide financial protection against losses covered under your policy. Check out Understanding Insurance for a high-level overview. You may be familiar with property, auto, health, and life insurance. Just like other types of insurance, determine what level of coverage may suit your unique needs and factor it into your spending plan along with the other costs discussed above.