Girl, listen. I wish I would’ve known this sooner too. Pet rent increase is an actual thing, and they add up. Let me tell you, I spent $300 in extra rent expenses during my first year as a dog mom thanks to pet rent. As a new dog mom, I didn’t factor that into my budget at all and these extra expenses add up.
Don’t get me wrong. I don’t regret for one moment bringing her home. However, I would’ve budgeted for pet rent increase a little better. In fact, there are several other money mistakes I made as a first-year dog mom. So, this blog post is dedicated to those dog mom money mistakes and how to bounce back from them.
MISTAKE 1: NOT BUDGETING FOR PET EXPENSES
Many dog moms underestimate the costs associated with pet care. Like when I neglected to add pet rent to my budget.
How to Bounce Back – Create a pet budget that includes your regular pet expenses, such as food, grooming, and vet visits. Also, start building an emergency fund for those unexpected costs you may incur. Make sure that you’re tracking your pet-related expenses and adjusting your budget accordingly.
MISTAKE 2: OVERPAYING FOR PET SUPPLIES
Spending too much on pet supplies without comparing prices. Sometimes it’s easier to grab what you see. However, you could be spending more money in the long run.
How to Bounce Back – Look for deals, buy items in bulk, and consider DIY pet supplies (i.e., toys, treats, cleaning supplies, accessories, etc.). Use coupons and shop during sales to save money on your pet supplies. It may be fun to turn your savings into a game. Track your savings and record how much you save each week, month, etc.
MISTAKE 3: IGNORING PET INSURANCE
Pet insurance can serve as a cushion for some of those high vet bills.
How to Bounce Back – Research and choose the right pet insurance plan that fits your budget and your dog’s needs. Compare different pet insurance plans and enroll in one that provides comprehensive coverage, which covers accidents, illnesses, and other chronic conditions. It can also include optional routine care expenses.
MISTAKE 4: IMPULSE BUYING PET ACCESSORIES
Making impulsive purchase for your dog without considering your budget. I’m guilty of this from time to time. Sugar’s so cute, sometimes I can’t resist.
How to Bounce Back – Plan out your purchases and stick to your budget. Make a list of needed items and prioritize them. Review past purchases and return items that are not necessary. I’ve also learned to include “impulse buys” into my budget. I set a certain amount of money each month to treat myself and Sugar. This helps me stick to my budget and treat Sugar (and myself) regularly.
MISTAKE 5: NOT HAVING AN EMERGENCY FUND FOR PET EMERGENCIES
Being unprepared for unexpected health issues.
How to Bounce Back – Build a dedicated emergency fund for pet-related emergencies. Start by setting aside a fixed amount each month for emergencies. Start small with your emergency fund, to avoid it becoming overwhelming. For instance, you can put your change in a jar and dedicate that to your emergency fund or dedicate $20 from each paycheck to your emergency fund.
MISTAKE 6: OVERLOOKING PREVENTATIVE CARE
Skipping regular vet visits and preventative measures, which can lead to higher costs later.
How to Bounce Back – Schedule and keep regular check-ups and preventative care appointments. Make a health plan for your dog that includes preventative care. Also, the regular scheduled visits will help you budget for them and save monthly for these visits.
MISTAKE 7: NOT SAVING FOR LONG-TERM GOALS
Focusing only on your immediate expenses without planning for the future.
How to Bounce Back – Set long-term savings goals for major expenses, such as pet retirement. Create a savings plan for long-term goals only and contribute to this regularly. Long-term financial planning not only helps you plan for the future, but it also helps you stay focused on your current budgets.
MISTAKE 8: NOT INVESTING IN PET TRAINING
Dealing with behavioral issues that could’ve been prevented with proper training. Some behavioral issues can cause dogs to chew up or destroy household items. Like the time Sugar chewed up my cable cord and I had to have the cable company come back out to my apartment with a new one. Some dogs may have more accidents.
How to Bounce Back – Invest in dog training to avoid future costs and improve your dog’s behavior. Find affordable training classes or resources to start training your dog.
MISTAKE 9: NEGLECTING SELF-CARE
Focusing too much on your dog’s needs and neglecting your own well-being.
How to Bounce Back – Balance caring for your dog with your own self-care routine. Create a schedule to spend quality time with your dog, but also do the things you’d like to do for yourself. This will not only help you manage the occasional dog mom guilt, but it will also help you take care of you. When you’re relaxed and calm, so is your dog.
MISTAKE 10: OVERSPENDING PET GROOMING OR DOG TREATS
Spending too much on professional grooming services or on dog treats.
How to Bounce Back – Learn some DIY grooming techniques and invest in some grooming tools. Honestly, I don’t trust myself to cut Sugar’s fur. So, if you’re like me and would rather someone else do it, shop around for a groomer that works with your budget. Also, keep track of the grooming services that are an absolute need and those that may be a waste of money. This will help you cut costs. As for the dog treats, you can always make your own. Sign up for our mailing list and get a free pupcake recipe you can try for your dog at home.
MISTAKE 11: SKIPPING DENTAL CARE
Ignoring your dog’s dental health can lead to expensive treatments.
How to Bounce Back – Schedule regular dental checkups for your dog and practice at-home dental care. Yes, that means brush your dog’s teeth. Introduce a dental care routine for your dog. I’m not going to lie. Some dogs may not take to this right away. However, keep trying as much as you can. Talk to your vet about dental care solutions that will work best for you and your dog.
MISTAKE 12: NOT COMPARING VET PRICES
Paying more than necessary for veterinary services.
How to Bounce Back – Shop around and compare prices for vet services. Research vets that offer competitive pricing without compromising quality. It’s important that you go to a vet that you trust. So, cheaper should not always be the reason that you choose a vet. Quality care is key.
MISTAKE 13: FAILING TO PLAN FOR PET RETIREMENT
Not saving for increased costs associated with aging pets. As our dogs get older, they’re medical expenses may increase due to the need for more preventative care.
How to Bounce Back – Start a savings plan specifically for your dog’s senior years. Assess your current savings and adjust to include future dog care costs. This way you’re prepared to take care of those expenses when it’s time.
MISTAKE 14: NOT KEEPING TRACK OF PET EXPENSES
Losing track of how much you spend on your dog.
How to Bounce Back – Maintain a dog expenses log to monitor your spending. Review your expenses regularly and adjust your budget as needed. This will help you be more accurate with creating your future budgets and assessing where you can cut costs as well as save money in the long run.
MISTAKE 15: OVERLOOKING PET-FRIENDLY FINANCIAL GOALS
Failing to integrate pet care into your overall financial planning.
How to Bounce Back – Set pet-friendly financial goals and include them in your budget. Revisit your financial goals and incorporate pet-related costs. This will help you be more intentional about your financial planning and look at your goals holistically to make more informed financial decisions.
MISTAKE 16: COMPARING YOURSELF TO OTHERS
Feeling pressured to spend like other dog moms or like you think other dog moms spend.
How to Bounce Back – Learn to focus on your own financial situation and goals. Create a financial plan that suits your lifestyle and priorities.
MISTAKE 17: NOT ORGANIZING YOUR FINANCIAL DOCUMENTS
Losing track of important financial information, such as pet insurance policies, bills, and other important documents.
How to Bounce Back – Use digital tools to organize and store your financial documents. Set up a system for organizing and regularly updating your financial records. This way you’ll always have clarity in your financial situation. It’ll also save you time and energy in looking for your financial documents and keep track of how you’re progressing toward your financial goals.
MISTAKE 18: NOT HAVING A FINANCIAL GOAL
Lack of direction in financial planning.
How to Bounce Back – Set clear and achievable financial goals. Break down your goals into smaller, actionable steps. This will make financial planning and achieving your goals less overwhelming, more manageable, and reinforce positive financial behaviors. It also builds confidence and can keep you motivated as you work to achieve bigger financial goals.
MISTAKE 19: NOT PLANNING FOR LIFE CHANGES
Being unprepared for major life events.
How to Bounce Back – Create a flexible financial plan that accounts for potential life change. Review and update your financial plan regularly, to reflect life changes. This includes changes for both you and your dog. Changes may include moving to a new city, getting a new job, buying a home, starting a business, getting married, etc.
MISTAKE 20: NOT ADJUSTING FOR INFLATION
Underestimating the impact of inflation on your budget.
How to Bounce Back – Review and adjust your budget for inflation regularly. Track the prices of the goods and services you purchase for you and your dog. Note any significant increases. Monitor economic trends and adjust your savings and investments accordingly. Also, be mindful of lifestyle inflation to avoid overspending and to keep your finances in check.
Financial mistakes happen. The important thing is that we learn from them. Yes, if I would’ve understood the impact of pet rent, I would’ve been more prepared for the costs. However, this mini lesson taught me the importance of being proactive about your financial plan. It helped me understand that by organizing my money and creating a solid plan further enhances the well-being of me and Sugar. So, we encourage you to learn from your money mistakes and use it as the first step towards your financial well-being.
Now, we’d also love to hear from you. What lesson have you learned from a money mistake? How has it helped you be more proactive in your financial well-being? Share your stories and connect with us @pupcakesugar.
Speaking of money mistakes. I learned that buying a lot of dog treats can get expensive. So, I save on dog treat expenses by baking them at home. Check out our pupcake recipe eBook, Sugar’s Dish: My Start from Scratch Story & 10 “Easy As Pupcake” Recipes to Try at Home. This eBook includes 10 beginner pupcake recipes for you to try at home with your dog.
You’ll also get a chance to step into Sugar’s world. I love my dog, Sugar, and her daily shenanigans make me laugh. So, I created an illustrated character inspired by her and her love of pupcakes. Sugar’s character is a “pupcakepreneur” that owns and operates her own pupcakery called Pupcake Sugar. It’s a tongue twister, but it’s amazing what you can create when you let your imagination lead the way.
Also, sign up for the Pupcake Sugar mailing list to get Sugar’s favorite birthday pupcake recipe to try at home with your dog. It’s great for dog moms who are new to baking dog treats.
