Here’s something creative.  My brother was sharing with me the way two families he knows handled their want of a dog and the recurring expenses that comes with it.  They share the dog.  One family gets to play and bond with Fido one week, and the next week, family number two gets the pleasure.  Food and toys are each individual family’s responsibility; expenses for medical needs are shared.

This is a first for me.  It actually never occurred to me that two families would want to share one dog.  But after a little thought I realized the beauty of their situation.  And from a money management perspective, it’s a win/win.  Why not share a dog?

I do an activity in my intermediate money class where kids get to choose a pet then “take care” of it for a year.  It’s all done in two class periods but by the end the kids have an appreciation for the money side of owning a pet.  Month-by-month kids, using their pet allowance, get to pay for food, toys, shots, medicine, and all the other expenses that come with owning a pet.  And since life happens in unpredictable ways, along the path of taking care of their pet, they may find themselves with an extra unplanned expense…their dog may eat the Sunday paper and need emergency care.  The kids need to make sure they have the funds in their budget for these unexpected expenses.

This project is a highlight for the kids.  They look forward to it each year.  They love going through catalogs and placing orders.  They learn how to write checks and balance a checkbook.  They also learn how to make choices between items they want for their pet.  After all, you can’t have everything you want.  We don’t do credit cards.

But owning a pet is much more than buying it food.  It’s often a very joyous experience.  Pets provide unconditional love, fun and happiness.  Pets are true family members.  That said, however, they are also a part of our budget and the money side of the equation needs to be considered.  That’s why I think it’s wonderful that these two families worked together creatively to come up with a plan that would allow them the joys of pet ownership with the security of shared expenses.  But the real winner is Fido.   To be loved by two families!  I wonder if excessive tail wagging could become a medical expense…