Pets are family, regardless of whether they have feathers, fur, or scales. Just like with other family members, the expense of caring for them can quickly add up. What happens if your pet gets sick or injured or needs to go to daycare? Here are four reasons why your pet needs a savings account.
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1- You Are in Control of the Money
One benefit of opening a savings account at your local bank is that you have complete control over the money. The decision is yours. No one is telling you the money can only be spent if the pet is sick, needs medicine, or for an emergency. For example, if you rely only on pet insurance, they dedicate to you what they will cover and will not pay for. So, even though you are paying for coverage, it may not cover all the bills. Even more important, if your furry friend takes all the fluff out of their toys, the savings account is there to replace toys or purchase a new bed, cage, and other necessities.
2- Things Happen
Sometimes, things happen. The puppy tries to jump from the bed but lands wrong. The kitty attempts to leap from one bookcase to another and misses. When accidents occur or when our pet gets sick, it can be scary. However, it is stressful when vet bills start piling up, and you are unsure how to pay them. Having a savings account dedicated to pet expenses will help cover unexpected expenses.
3- Preventing Debt
By putting money aside each month in a dedicated savings account, you can budget for all your pets’ needs, including food, wellness vet visits, dog walkers, and more. For example, if there is an accident, the vet bills will pile up quickly. Instead of reaching for the credit card and going into debt, you can fall back on the savings account. Your savings account can even make you money. Just think how many more squeaky toys you can buy Fido with the money you are making on interest.
4- There is Nothing Better Than Having Some Peace of Mind
A savings account for your pets will help to provide peace of mind. You will not have to worry about how you will pay for things like emergency vet visits, sudden illnesses or injuries, or a fence for the backyard to keep your pet safe. Knowing you are putting money aside for your companion’s needs allows you to create memories instead of worrying about money. Having financial security means your companion will get the love and care they deserve without added stress on you.
Opening a pet savings account for your pet is a smart step for any pet owner. Not only will you control your money by deciding how and when to use it, but it guarantees you are ready for anything unexcepted. Accidents and illnesses are an unfortunate part of life; however, you will rest easier knowing you can handle sudden expenses without additional stress. Your pet is an important family member, and their health and happiness are worth the investment.