Here's How Much a Cat Costs per Year

Before bringing a new cat home, ensure you can afford to care for it without stressing about money. 

Cats are the ideal furry companion. They're curious, lovable, playful, funny, and independent creatures. Some may call me biased -- since I have two fuzzy felines at home. But as a long-time cat owner, I know how expensive these adorable animals can be. 

If you've been considering getting a cat, it's essential to consider the responsibility required. Yes, cats require regular care and attention -- but unless you can convince your cat to get a side hustle (I haven't had luck yet!), you'll also need to pay for that care. Before you sign adoption paperwork, consider the yearly cost of owning a cat. 

Annual cat care costs can reach $1,000+ 

Yearly pet care costs vary, but it's a good idea to research estimated costs to ensure you can afford to give your new cat the best life possible. You may not realize how expensive it can be to care for a cat. According to research compiled by Rover, estimated cat care costs range from $300 to $1,450 per year. That is about $25 to $120 monthly, depending on your cat's needs. 

Of course, those costs will be even higher if you have a multi-cat family. However, pet owners should also expect to pay upfront costs when adopting a new feline friend. During the first year, cat owners can expect to pay anywhere from $695 to $3,100 in upfront costs.  

If you're considering adopting a cat, review your budget before bringing your new furry family member home. You want to feel confident that you'll be able to take care of your curious companion without feeling stressed about money. Even small everyday expenses can add up.

How to prepare for the financial responsibility of cat ownership 

Cats make life better, and they're a lot of fun! But while they think they're independent creatures, they still rely on their owners to provide water, food, toys, and a clean litter box. They also look to their owners for medical care. As a cat gets older, its healthcare needs can change. 

While day-to-day care costs may be low if you have a healthy cat, there may come a time when your cat needs emergency medical care -- and unexpected vet bills can be pricey. The last thing you want to do is feel overwhelmed when a costly vet bill comes your way. Luckily, you can prepare. Here are some ways to prepare for regular and unexpected cat care costs: 

• Budget for regular expenses: Include everyday cat care expenses in your monthly budget. By doing this, you can ensure you can afford to run to the store every time your cat needs more food or litter. If you're new to budgeting, budgeting apps can help you monitor your spending and stay on track. 
• Set aside extra money for future costs: Preparing for emergencies before they happen is never a bad idea. Opening a high-yield savings account and stashing extra savings away for unexpected future expenses like emergency vet bills can ease your financial stress. Doing this can help you avoid expensive credit card debt. 
• Invest in pet insurance: Investing in pet insurance could make caring for your pet's needs more affordable. Various plans are available, including accident-only policies, accident and illness policies, and wellness policies that cover preventive care. Before bringing a new cat home, you may want to explore insurance options and get quotes.  

Make sure you can afford a cat

Adopting a cat may be the right move if you're ready to bring a furry companion home and give it all the love, attention, and care possible -- regardless of cost. But don't forget to consider the added financial responsibility you will take on by becoming a cat owner. If you can afford the expense, that's great news for you and your new pal! 

However, it may not be the best time to adopt if you're experiencing financial difficulties. Instead, it's best to work to improve your personal finances first before taking on more responsibilities. If it's best to delay this life-changing responsibility, check to see if local shelters need volunteers. You'll get plenty of snuggles, can make a difference, and it'll only cost you time and love.