Cost of Owning a Pet - 5 Ways to Cut Pet Ownership Costs

As a nation of pet lovers, the cost of owning a pet can add up over time as we try to provide our beloved animals with the best care and protection.

Many Payplan clients already owned a pet before they got into financial difficulty - making the cost of caring for them part of their budgeting process. Here are some handy tips from Payplan for how to cut the cost of owning a pet, without cutting out on the care.

1. Pet inoculations - Don’t miss jabs!

Although the cost of inoculating your pet can be expensive, prevention is better (and cheaper!) than cure. By keeping up-to-date with your pet’s jabs you could avoid extra costs in the future.

2. Pet insurance

Again the same adage is true - prevention better than cure. Shop around for cheap insurance deals for your pet’s insurance, although paying each month adds up, the insurance will act as a great safety net should your pet need emergency or long-term medical treatment in the future.

3. Cheap toys

Instead of spending money on expensive toys for your pets, why not pick something up from charity shops or even try homemade toys.. sometimes a bit of string or a simple feather can provide just as much fun!

Alternatively, many ‘pound’ shops sell various ranges of pets’ toys and pet foods for only £1 - bargain!

4. Pet sitting

To avoid the cost of pet sitting or kennels, why not visit Pet Sitter Swap, a site which puts local pet owners in touch with each other so they can organise a free pet-sitting rota. You have to pay £9.99 to join, but all pet-sitting is free after that.

5. Buying a Pet

If you’re seriously thinking about buying a pet such as a dog or cat, and you’ve already considered the financial, emotional and care implications over the long-term, it may be a good idea to consider a non-pedigree rather than a pedigree breed.

Pedigrees, as well as the initial cost of the pet being expensive, are also known to cost considerably more in terms of ongoing insurance and general day to day care.

Additionally, apart from the obvious benefits to the animal, adopting a pet from a rescue home will most probably work out cheaper than buying from a breeder and some will even arrange subsidised vaccinations and neutering where necessary before you pick up your new pet.

For more information about adopting a rescue animal visit the RSPCA’s website.

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Loan Shark Debt Campaign Update

Loan shark debt dangers highlighted in ongoing campaign

The Office of Fair Trading (OFT) has joined the ‘Stop Loan Sharks‘ campaign aimed at warning people about the risks of using loan sharks to try to solve their debt problems.

Loan sharks are actually illegal money lenders and prey on those vulnerable people struggling with debt. Unlicensed loan sharks will often offer cash loans without paperwork, charge extortionate interest rates and may use benefit payments or bank cards as security or threaten the use of violence if loan payments are missed.

According to the (OFT) there are an estimated 165,000 households in the UK that have loan shark debts, with half of these in the most deprived areas of the country.

In accordance with the campaign now fronted by the OFT and Trading Standards Illegal Money Lending Teams, loan sharks can now be reported by either calling 0300 555 2222, by sending a text with the words ‘loan shark’ and the details to 60003 or by sending an email to reportaloanshark@stoploansharks.gov.uk.

Jacqui Kennedy, Director of Regulatory Services at Birmingham City Council said:

‘It’s great to have the support of this campaign in our continued fight against loan sharks. It’s vital that we get our message out to vulnerable people that loan sharks are never a good option. It may seem like easy cash at first but very quickly people can become trapped in a spiral of debt’.

Nationally, the ‘Stop Loan Sharks‘ project has so far helped more than 11,500 people, written off more than £31 million of illegal debt, secured more than 60 years in prison sentences including an indefinite sentence for public protection, and seized £1million in cash.

For more information about how to report a loan shark watch the ‘Stop Loan Sharks’ campaign film on YouTube.

IMPORTANT NOTICE
If you’re receiving violent threats made by loan sharks because of missed payments, you should contact the Police immediately. If you’re struggling to manage your debts, contact Payplan today for free, confidential debt advice.

Filed Under  Debt News, Financial News, Payplan, debt advice, debt help  |  Leave a Comment