Your new-pet checklist

While having a new member of the family is an exciting change, it's important to be prepared for the financial responsibilities associated with a pet.
Create a plan to cover their health, nutrition and safety so you aren’t surprised or out of pocket in the first year.

Furry friends need pocket money too

Introducing a new pet to your home offers a near endless source of affection but it can also be an unexpected drain on the wallet. Dr Tim Hopkins, an emergency vet at Small Animal Specialist Hospital Northern Beaches (SASH), says “in the first year, your new puppy or kitten can cost up to $6000 and thereafter, you could be spending up to $3000 per year for dogs and $1600 for cats.” Take a look at your outgoings and ensure you can afford the extra expense.

You can use our Budget Calculator to help you.

Create a safe space

You’ll need to make your space a home for your new furry friend so outfitting it with bedding, toys and litter trays is a must. And pet-proofing your home is crucial, particularly for renters. Barricading carpeted areas can help prevent accidental stains during the toilet-training period and buying a scratching post can help stop carpet and furniture from being shredded.

Plan for the unexpected with pet insurance

Investing in pet insurance can help your four-legged friend be covered for various incidents, especially if you don’t have an emergency vet fund set aside. Joni Hudson, chief insurance officer of PetSure, adds that surprise medical costs can escalate quickly and insurance can help soften the financial blow. “Last year, a customer submitted a claim for a dog that was playing on the sofa, lost his balance and fell, fracturing his leg. The treatment came to $14,400, so the owner submitted a GapOnly claim on their pet insurance policy - provided by CommBank - and was only out of pocket $2000 for the gap between their eligible claim benefit and the invoice.”

Get two months free in your first policy year

Use the code CBA2MONTH

Offer ends 30 June 2026. T&Cs apply.*

Provided by PetSure.

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Make sure you have plenty of healthy treats

Asking your vet for pet-food suggestions can go a long way in keeping your new family member well. To reduce costs, Hopkins recommends buying in bulk and taking advantage of recognition programs, such as CommBank Yello, which offer discounts on groceries. Putting your animal on a balanced diet can help reduce health issues later, Hopkins says. “Overweight pets are more at risk of high blood pressure, heatstroke, diabetes, some cancers and anaesthetic complications.”

Be proactive with health care

Health care is one of the more expensive aspects of pet ownership. Procedures like microchipping and spaying are vital for your pet’s future, as are vaccinations and regular vet check-ups. It can be tempting to skip these procedures to save money but “prompt veterinary attention will reduce your costs overall”, says Hopkins.

Three pet-insurance wins

CBA Pet Insurance, provided by PetSure, includes 24/7 Live Vet support, giving you chat or video access to a qualified vet at any time, day or night.
Adding on Routine Care (a non-insurance benefit) to your policy can pay part of the way on pricey procedures like desexing and teeth cleaning.
Enjoy no waiting periods on emergency pet boarding and specified accidental injury cover, which covers cases like poisoning and bone fractures.

Visit commbank.com.au/pet-insurance to learn more.

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Published: 12 December 2025

Things you should know

Pet Insurance is issued by PetSure (Australia) Pty Ltd ABN 95 075 949 923, AFSL 420183 (PetSure) and promoted and distributed by the Commonwealth Bank.

This article provides general information of an educational nature only. It does not have regard to the financial situation or needs of any reader and must not be relied upon as personal financial product advice. The views expressed by contributors are their own and don’t necessarily reflect the views of CBA. As the information has been provided without considering your objectives, financial situation or needs, you should, before acting on this information, consider what is appropriate for your circumstances, and where appropriate, consider the relevant Target Market Determination, Product Disclosure Statement and Terms and Conditions available on our website. You should also consider whether seeking independent professional legal, tax and financial advice is necessary. Every effort has been taken to ensure the information was correct as at the time of publishing but it may be subject to change. No part of the editorial contents may be reproduced or copied in any form without the prior permission and acknowledgement of CBA.

This article is intended to provide general information of an educational nature only. It does not have regard to the financial situation or needs of any reader and must not be relied upon as financial product advice. The commentary provided from external companies that are not a member of the Commonwealth Bank of Australia Group of Companies (the CBA Group) does not represent an endorsement, recommendation, guarantee or advice in regard to any matter. The CBA Group does not accept any liability for losses or damage arising from any reliance on external companies and their products, services and material. Commonwealth Bank of Australia ABN 48 123 123 124.

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