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Budgeting for a Pet: Smart Financial Planning for Dog & Cat Owners

(August is International Dog & Cat Day!)

August isn’t just about the end of winter and tax deadlines — it’s also the month we celebrate International Dog and Cat Day! As tax professionals, we spend a lot of time talking about smart financial choices, and if you’re a pet parent (or thinking of becoming one), it’s the perfect time to talk about budgeting for your furry family members.

Pets bring endless love and joy, but just like any major life decision, they also come with ongoing financial commitments. Whether you’re a seasoned dog lover or a new cat parent, understanding the real cost of pet ownership can help you plan better — and potentially save money at tax time too (more on that later).


Why Pet Budgeting Matters — Even for Tax-Conscious Households

While the tax office doesn’t consider your Labradoodle a dependent (we wish they did!), budgeting for a pet is just as important as planning for any other household expense. Without a clear budget, it’s easy to underestimate how much your pet really costs.

Proper planning helps you:

  • Avoid dipping into savings for unexpected vet bills
  • Smooth out monthly cash flow
  • Be prepared for emergencies (financial and furry)
  • Stay on top of your personal budget — something every good tax agent encourages!

Pet Expenses 101: What to Include in Your Budget

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