How To Create and Use A Pet Fund

Monday, June 22, 2020

You may have read my post about how I afford 4 senior dogs with no debt, and the main method I discussed was having a pet fund for supplies and vet care. Each paycheck I put a certain amount of money aside for their care. I figured out the total amount I need in a year (including what I put aside for an unexpected emergency) so it’s second nature for me to operate this way but I realize for some, they don’t even know how to get started. So today I’m going to help you learn to create and use a pet fund for your pets so that you’re better prepared financially to care for them whether it’s an emergency or not.

Evaluate Expenses

The first thing you need to do is figure out how much money you will be setting aside for your pets each year. If it’s a pet you have owned for a while, you can review your past vet bills and receipts to account for the following expenses:

Annual vaccines

Annual checkups

Food – how often you have to purchase a new bag

Litter or pee pads


Medications or preventative measures like flea/tick treatment

If it’s a new pet, you can pretty much research how much those things costs and come up with a ballpark figure. And at the end, you want to include a couple hundred (I suggest 300-500 at least) for an emergency. That amount may sit in your fund for years which is fine, because it’ll always be there when you need it.

Do the Math

Now you need to total up the amount and divide it by how many paychecks you receive in a year. This gives you the amount you should set aside from each paycheck in order to ensure you’re actively accumulating the money you’ll soon need.

Decide Your Method

Do you want to keep your fund in cash or in a separate share of your bank account, or even both? Decide on what works best for you. It’s important though that you commit to setting money aside every paycheck for your pets. Having this money in place can prevent you from tapping into savings or charging on a credit card. It also is one less thing you have to freak out over when an emergency happens to your pet and you have to run to the vet.

Use Surprise Money to Fund it Faster

If you don’t want to wait for money to really start accumulating use surprise money to fund it. In the past, I’ve used my tax return, gift money, extra money from a third paycheck twice a year, side income, and anything else that’s a nice small sum that will help me feel more secure when it comes to caring for my pets.

With these steps in mind, it’s a good idea to get started as soon as possible. Let me know if you have a pet fund already in the comments below!


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