3 Ways to Handle Expensive Vet Bills

We all love our pets and want to make sure they’re given the best healthcare available, no matter the cost. But as much as our hearts tell us it’s the right thing to do, our wallets might feel differently. Vet bills can be expensive. On average, as many as 75% of cat and dog owners in a recent study were found to have regular annual check-ins with their vets. Those checkups and any needed medication can add up, but unexpected things happen, and you could suddenly have to pay a high cost you weren’t expecting. It might be tempting to borrow money to afford a sudden medical expense. In reality, this will often mean you’ll end up paying a lot more further down the line. Fortunately, there are alternative methods that make paying for these unforeseen financial hurdles a little bit more manageable. Read on to discover three ways you can handle expensive vet bills. 

Set Up A Pet Saving Account

Preparedness is often the key to success – and that’s truer in the world of finance than any other. Having a dedicated account that you pay into on a regular basis will make it easier to afford a hefty bill that you may not have seen coming. How often and how much you choose to pay into one of these accounts is up to you. It may be useful to look at your wider monthly budget then work out from there what you can afford to set aside. When it comes to the type of account you’re saving into, try picking one that will slowly accrue interest over time. It may only be a small amount, but having a few extra pennies every month just for holding your savings is a small win.

Find Pet Insurance

With the cost of veterinary visits growing by a whopping 11.4% in 2023 alone, having pet insurance is becoming more of a must than a luxury. These policies usually require a monthly payment but will cover the cost of anywhere from 80-100% of your total vet bill (minus a fixed deductible fee that you’ll have to pay upfront). Shopping around is usually the smartest way to find a pet insurance premium that works for your needs. Balance affordability with what you actually require from a policy to find something that is perfect for you. 

Use A Credit Card That Makes Sense

Credit cards might not be an ideal option for paying off large expenses. But, if used correctly, they can help you generate bonuses, rewards, and cash-back, which can be used to help you in other areas of your life. Several cards exist that help owners earn when paying for pet expenses, with prudent shoppers able to parlay the cost of medical expenses into other forms of financial savings. Just be sure that you have a plan in place for paying back any money you borrow from a creditor. Know your rate of APR ahead of time, and work out the best way to pay it off as quickly as possible. 

Conclusion

We hope that you feel better prepared to handle a sudden, large pet bill, should one come along. Make sure to use this guide as a point of reference for planning any future expenses. You can never be too prepared. Your fluffy friends will thank you.