When Fido Gets Sick, Pet Insurance Or A Payday Loan Might Help

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You love your pet; whether it is a dog, cat, ferret, or bird, your pet is part of your family. As with any member of your brood, you care about your animal’s healthcare. Like humans, pets are subject to unexpected illnesses and injuries; unlike humans, pets have no way to compensate for the costs of treatments, leaving their adoring owner with the bill when troubles arise. Americans currently spend over 40 billion dollars per year on their pets, raising the question: where is this money coming from?

While some people might budget for pet expenses, many seek out quick cash options such as a payday loan or cash advance when their animal friend faces health problems. While many might consider this option disagreeable, it can be a realistic and pragmatic solution to a pet’s health problems, so long as the borrower is responsible and able to pay back the loan immediately. The average cost of a visit to the vet ranges in the mid to high one hundreds–an inconvenient but manageable amount for many pet owners. If borrowing this amount of money to cover pet costs is beyond one’s range of paying back, one should seek other options to keep their animal companion healthy. It is unwise for a person to take out a loan without confirmation that the debt can be paid back quickly, as it leads to more fees and the accruement of interest.

Another pragmatic option might be purchasing pet insurance, although spending thousands of dollars over the lifespan of their furry friend might not sit well with some. However, paying a small monthly premium for pet insurance may be easier and more agreeable than shelling out a large sum of money if an unfortunate health issue arises. It is worth considering, though, that as with human medical insurance, the insurance premium is paid for that “just in case” situation and most will not use the services they are paying for. On the inverse, if a costly event suddenly befalls a pet owner, he will be relieved to know that his animal is covered.

Ideally, a pet owner will have a savings account set aside for such emergencies therefore preventing the need to take out a payday loan or cash advance. One way to prepare for unexpected pet expenses is to create a realistic budget for your entire family, including Fido. How much do you spend on food, treats, water, vaccinations, grooming, etc.? Write down all of your pet expenses and incorporate said expenses into your monthly budget. Anticipate expenses by planning for vet visits: if you know that you would like to spade or neuter your pet, budget for the cost of this health procedure. Likewise, to budget for unexpected problems try putting a small amount of money aside every month. One way to figure out how much to save for your pet’s spontaneous accidents or illnesses is to inquire about how much pet insurance costs. Try to match the amount that you would be spending on health insurance, building a private safety net for those unexpected costs.

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