If you went to a pet store to buy a cat you would probably pass by the cat that cost $2,000. Advance 4 years, you already have adopted the cat and the cat gets sick. Now what? You take the cat to the veterinary. My almost four year old cat starting getting sick in the house multiple times. A visit to the vet turned out that she was now dehydrated from getting sick. In addition, she was no longer getting fluids and in a few days would need IVs and hospitalization. Now my inexpensive cat was in need of tests and hospitalization.
This is an example of the need for an emergency fund that would have been very hard to plan for in advance. First visit on 6/20/07, the cat had an exam, blood tests, hydration and x rays.($273.05) Second visit on 6/21/07, the cat just rec. hydration. ($15.38) Next visit (6/22-6/26/07), the cat stayed for hospitalization. ($880.61) Then the cat needed to be transported on 6/25/07 to another place for an ultrasound to rule out any problems. ($285 -cost of test, we transported the cat)
My sister recommended capping the expenses at a certain amount. The cap in my head was $2,000. But how do you explain to your children that for the price of blank we were not able to save the cat. What if it happens again, has the cat already reached its medical limit or would it be $2,000 for another occurrence?
I can say that if we knew up front how much the cost would be it would have been better. Next time x rays are suggested, I would probably skip the x rays and just opt for an ultrasound.
Our cat has survived its ordeal. We are grateful our cat is okay and thankful that it did not bankrupt us to get there.
Do you have any experiences where the unexpected costs got out of hand very quickly?