Having a cat will cost you an average of $1,500 a year not counting a major health crisis or any extravagant purchases (diamond collars and $500 kitty condos are optional). Dogs are even more expensive. Surprised? Most pet owners are. If you're thinking of sharing your home with an animal, or if you already are, these tips will help you cut corners without putting the health of your furry companion at risk.

Adopt a Pet From a Shelter

… instead of buying one at the local pet shop. Not only will you be save hundreds of dollars, you'll also be saving a life.

Keep Your Pets Indoors

You will protect them from illnesses, accidents, and attacks by other animals. If you're not willing to make them part of your family, then you're not ready for them.

Spay or Neuter

Spaying and neutering lowers or eliminates the risk of breast and testicular cancers, prostate infections and enlargement, perineal hernias, and false pregnancies. It also prevents many behavioral problems, makes pets less aggressive and less prone to wander away. The procedure also saves you money on caring for a pregnant animal (and the future babies) and cuts the cycle of unwanted and homeless animals.

Find Alternatives to Vet Clinics

For routine care, yearly vaccinations, and deworming, you may save a lot of money by skipping your vet. Animal shelters, the local Humane Society, and many pet stores sometimes house mobile clinics that offer great savings on routine care. Some places even offer grooming as a perk or for a large discount. PetsMart stores, for example, have a rotating vet offering low-cost immunizations on weekends. Petland stores have started to offer the same service in large cities.

Consider Vet Schools and Teaching Hospitals

Pets are usually seen by students in their last year of school, under the close supervision of DVM professors and licensed veterinarians. Some places offer complete services, including outpatient surgery and hospitalization, while others only cover basic health problems. Find out in advance and be prepared with alternative clinics in case you have an emergency they cannot treat.