Bringing a new pet into your home is no walk in the park, especially when it comes to finances. Just when it seems like you’ve prepared for it all, a new expense may come up that you haven’t budgeted for. But not to worry: if you’re wondering how to budget for your new furry (or scaly) friend, plus options for when you don’t have the cash (like a same-day personal loan), this is your full-proof guide!

Plan for known costs

A great way to approach budgeting for a new pet is to start setting aside money for the things that are a must. If you’re getting a dog, you’ll need a bed and some chew toys, among other things. A fish will need a suitable tank and some fish flakes. These costs can be easily accounted for in your budget because they’re well-known and, therefore, easier to plan for.

Here are some costs you’ll want to plan for before taking on a new pet. In the case of a dog, you might specifically need:

• The costs of adopting or purchasing
• A collar, leash, and/or harness
• Registration or pet licensing
• Pet insurance
• Food and water bowls
• Food and treats
• Grooming supplies
• Medication
• Toys
• Vet visits and check-ups
• Shots
• Crates or playpens

Plan for the unexpected

Let’s face it: pet costs can be unpredictable. While the known fees are easy to plan for, it’s the unexpected ones that often lead to financial trouble, such as:

• Emergency vet visits
• Extra training courses
• Dog sitting services
• Boarding

These often last-minute costs can be some of the costliest when it comes to caring for an animal. If you have an emergency pet-related expense and need help covering it, here are a few financing options:

Same-day personal loan

Same-day personal loans allow you to secure money as soon as possible and repay them at a later date. Whereas a traditional loan might take days to be processed and to receive funds, same-day personal loans provide cash right when you need them. You can then pay these loans back all at once or over time, depending on the loan type and lender.

Pawn shop loan

If your credit score isn’t top-notch or you do not want to go through the application process, a pawn shop loan might be the answer. You can bring an item that you own as collateral, and then the pawn shop can offer you some cash based on the value of the item. If you don’t pay back what you owe, the pawn shop will get to keep your item.

Help from family and friends

If you have family or friends that may be willing to help you out financially, consider asking them to borrow money. Make sure to explain in detail what pet expenses you’ll need to cover, and put the agreement about how and when you will pay back the money in writing. This way, there won’t be any confusion later on about what was agreed to.

The bottom line

Owning a pet is a great deal of fun, but it also comes with a ton of responsibility. It’s important to be financially prepared for even the worse-case-scenario. Pet insurance plans and proper budgeting can help to make sure you’ve got the funds you need for your little one. If you find yourself in a pinch, consider one of the financing options mentioned above to help round out your budget.