Adopting a Dog like Bo Will Cost You

(MoneyWatch)  Bo Obama, the First Dog, is capturing hearts across America. But, to be honest, I would have preferred if the Presidential family hadn't welcomed the Portuguese water dog into the White House. Now I fear my three-year-old will want one too.

Hey, I love animals as much as anyone else. It's just that I don't want to take on the added expense of a dog at a time when I'm trying to trim my budget. While this probably makes a lot of sense to other parents, there's no way my daughter will understand that saving takes priority over snuggling with a pooch.

Just how much will a Bo of our own run? The average dog owner spent $220 a year on routine vet bills and nearly the same amount on food, according to the most recent National Pet Owners Survey from the American Pet Products Association. The total tab, however, is much higher if you include surgical vet visits ($453), kennel boarding ($225), groomer/grooming aids ($127), vitamins ($77), treats ($66), and toys ($41). Add it up and I'm looking at a total bill of $1,425 a year. Ouch!

Then there are the start up costs that go along with a puppy. After all, I would need to go out and buy everything from wee wee pads and a crate to a leash and a gate. After browsing online at Petco, I came up with an 11 item list that would cost nearly $200. Add in obedience school -- which I understand is not a necessity, but I'd probably want anyway -- and I'm out another $350. The new total comes to just under $2,000.

Perhaps you're thinking there must be a way to save money, right? I guess I could consider investing in pet insurance to protect myself again high medical bills. But a comprehensive canine policy can cost as much as $700 and still not cover all of my expenses. No wonder the Consumer Federation of America's insurance expert, Bob Hunter, once told me he doesn't like these plans. Apparently, a better solution would be for me to save and set aside some money for the pooch's vet bills. (As if I'm not already saving for plenty of other goals, including retirement, college, rainy day fund, etc.)

So where does all this leave me? I'm starting to wonder if I'm better off proactively buying my daughter a goldfish. Sure it won't fetch or cuddle, but it's a great accessory to one of her favorite books Dr. Seuss' "One Fish Two Fish Red Fish Blue Fish", and a basic fish in a fishbowl would only set me backless than $20.

Top Dog image by Mike Licht, NotionsCapital.com, by CC 2.0.