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Which Pet Is The Cheapest?

03/30/2015 by Derek Chamberlain

Which Pet Is The Cheapest

Which Pet Is The Cheapest?

Speaking of pets… Which one is the cheapest?

Do you have a dog? Or a cat, a canary, or a parakeet? Any of the above, or more than one perhaps? If you do, you must know that having a pet is not the cheapest thing in the world! OK, I know, you can’t put a price tag on love, but when it comes to pets, there are clear costs involved. Let’s take a brief look at these costs – and try to decide which pet is the cheapest to own.

Guinea pigs and hamsters

Little rodents can be very cute – although “little” can be a bit of a relative term when it comes to guinea pigs. These furry little critters are a great choice for your first pet.  They are easy to handle, occupy small space, and given their size, don’t eat all that much.

Keeping a guinea pig or a hamster involves a series of costs, but compared to some other obvious choices, these are small. They need a cage to live in, which can be quite small, bedding (if you happen to have a friend or relative who works with wood you can save a buck by asking him for some shavings occasionally), food and toys, and fresh vegetables from time to time (your kitchen waste will do fine). All things considered, a pair of guinea pigs or hamsters (as they are social animals, doing best in pairs) will only cost you a few hundred dollars per year.  Even less if you get creative with some of the ideas outlined above.

Swimmers

A goldfish is a classic choice for a pet – except if you prefer those you can actually play with – as it is an inexpensive one. What you need is a fish tank (a nice, big one, of at least 15 gallons), decorations, a water filter and food. Aside from the initial investment, a goldfish will cost you close to $100 a year.

For an even cheaper alternative you can go for a Betta fish – it has a life span of up to 2 years, it needs less space than a goldfish and it doesn’t even require a water filter. If you take good care of your betta, it will cost you much less – around $20-$30 a year.

Birds

There are so many bird species that can be owned as pets that one has a hard time choosing which type would make the best fit. There are expensive and sensitive ones (and more spectacular, of course), but there are many that are smaller and less sensitive which you can own for a cost of not more than $100 a year (aside from an initial investment for the cage).

For an inexpensive alternative (which may sound a bit surprising for most) you can keep a chicken as a pet. It’s cheap (a baby chick can cost somewhere around $5), it doesn’t have many special needs, and chicken feed is equally cheap.  You’ll also need a bigger yard and some type of house to keep the chicken in.  Definitely do your research before buying!!  For more info – check out this awesome this awesome site: MyPetChicken.  And for one more benefit – the eggs can bring you some cash.  If you live down under, you can later use this to play at your favorite online casino australia.

Dogs

I have already written pretty extensively about the cost of dog ownership.  Check out that article; the cost of a dog will run you about $750+ a year!

Cats

Cats are lovable creatures and are pretty self-sufficient.  Because of this, beyond the initial investment of the cat and some toys, you are looking at a pretty low-cost pet compared to a dog.  You will have to purchase cat food, toys, and kitty litter.  Plan to budget $300 a year for a small cat.

Which Pet is the Cheapest – Final Thoughts

Reviewing the above list, I’d have to say that a goldfish is the cheapest pet you can own.  They are great to look at, but don’t really kick in a huge “love factor” compared to other furry friends.

If your budget can spring it, I’d suggest you go one upgrade further from a goldfish and try a hampster, gerbil, or guinea pig.

If money is no object for you, then you should consider a dog or a cat as they can provide plenty of years of unconditional love!

Check out these other great MoneyAhoy posts:

How Much Does a Dog Cost Per MonthHow Much Does a Dog Cost per Month? Tips on Getting the Cheapest Car InsuranceTips on Getting the Cheapest Car Insurance What's In for the Outside of Homes10 Cheapest US Cities to Live In NegotiateMoney Saving – Negotiate Cheapest Cable, Phone, and Internet Service Rates- Part-1

Filed Under: Saving Money Tagged With: money saving, pets

Comments

  1. Clarisse @ Make Money Your Way says

    03/31/2015 at 7:49 am

    We used to have pets like birds, dogs, fish, pig “to sold” and cats. And I can totally say that the fish is the cheapest pet. The fish only eat a little amount of fish food.

    • Derek Chamberlain says

      03/31/2015 at 5:30 pm

      Our son won a free fish from a carnival and it’s lasted about 6 months so far. The only investment has been a little bowl that was ~$15! Definitely agree with you that fish are the cheapest.

  2. Amos @ Modest Money says

    04/04/2015 at 5:01 am

    I prefer a dog because of the unconditional love they provide for the family.Though they are kind of expensive to maintain.

    • Derek Chamberlain says

      04/06/2015 at 6:35 pm

      Amos,

      I prefer dogs as well because they are just so lovable – they really do cost a ton though. I never would have guessed it until I ran the numbers for myself.

  3. Cobra says

    04/11/2015 at 10:14 pm

    Red Wiggler composting worms are less expensive than a goldfish. 1,000 worms cost around $20, $5-$10 for a Rubbermaid bin, and that’s it. Put some air holes in the bin, fill it with shredded paper, and feed the worms food scraps. $30 total investment and since the worms repopulate themselves, no recurring costs other than to buy more bins if desired.

    • Derek Chamberlain says

      04/13/2015 at 7:38 pm

      You win the award for the most bizarre comment on the blog! This is such a great comment!

  4. Jon @ Money Smart Guides says

    04/14/2015 at 6:05 pm

    Goldfish are cheap, but it is annoying how quickly they go – especially if you buy the feeder version of goldfish. I made that mistake once and the fish died in about a week.
    Jon @ Money Smart Guides recently posted…Strategy vs Luck: Which Is The Better Investment Approach?My Profile

    • Derek Chamberlain says

      04/15/2015 at 7:28 pm

      We must be blessed then – our son won a goldfish at a carnival in October 2014 and he is still going strong 5.5 months later!

  5. Ron A. says

    03/04/2016 at 5:53 am

    I agree that the goldfish is the cheapest one but they’re not really that exciting for a pet. They can be nice to look at though.

    Well, for me I would go for guinea pigs because they are lovable, affectionate and cute. Having guinea pigs won’t cost you that much of money, just make sure you take extra good care of them because they get sick easily and the vet bills would be very expensive.

    If you decide to buy a guinea pig, try to buy 2 at least because as stated above they are social animals. A guinea pig would be depressed of being alone. Unless, you give your guinea pig lots and lots of attention. And don’t even think of buying them those rolling balls because they can break their spine.
    Ron A. recently posted…What Medical Problems Do Guinea Pigs Get?My Profile

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About Me

Derek Chamberlain Hi, I'm Derek. I'm a 30-something guy that is interested in all things money! If you'd like to learn more about me, click here.

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