CRUNCHING THE NUMBERS
How much money should you leave behind for your pet? Ng’s got a simple formula: Take your pet’s annual costs, factor in their breed’s average lifespan, and do the maths. Say your medium-sized dog, who is currently eight years old, is expected to live for five more years. If you drop around S$4,000 a year on caring for your doggo, it might be a good idea to allocate at least S$20,000.
But your pet may visit the vet more frequently as they age. For older dogs, vet care can be in the form of pain management. Make provisions for their medical bills, or consider covering unexpected expenses with a premium for pet insurance.
Ensure you’ve got their palate factored in, too. Ng shared the example of a client who only serves cooked meat to his dog – on a daily basis, no less. (No normie canned food or plain kibbles, thank you very much). And let’s not forget the fun stuff. If your dog is used to weekly swims, include that in your budget. At the end of the day, it’s all about maintaining your pet’s quality of life.