The True Cost of a Pet: First-Year Costs, Lifetime Budgets & Insurance vs Saving
Budget a fictional dog's whole life and decide with expected values whether pet insurance or a savings fund pays off: first-year and recurring costs, lifetime cost with inflation and present value, vet-cost scenarios, policy maths, rising premiums, a self-insurance fund and holiday care, with every cell checked as you go.
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About this course
In this course you budget a fictional rescue dog from adoption day to old age. You group first-year costs with SUMIFS, convert weekly, monthly and yearly bills into one annual budget with a lookup table and project lifetime costs with compound inflation, a senior surcharge and present value (NPV). You weigh fictional vet bills by their probability with SUMPRODUCT, translate a policy's premium, excess, reimbursement rate and annual limit into out-of-pocket costs, find the break-even vet bill and compare rising premiums with expected claims. Finally you plan a self-insurance fund with NPER, PMT and FV and price kennel, sitter and friend for holiday care.
Lessons
- First-Year Costs: One-Off Purchases by Category Pro
- Recurring Costs: Weekly, Monthly and Yearly Bills in One Annual View Pro
- Lifetime Cost: Inflation, Senior Years and Present Value Pro
- Vet-Cost Scenarios: Expected Annual Cost by Age Pro
- Policy Math: Excess, Reimbursement Rate and Annual Limit Pro
- Premiums That Rise With Age: Cumulative Premiums vs Expected Claims Pro
- Self-Insurance: Building a Vet Fund With NPER, PMT and FV Pro
- Holiday Care: Kennel vs Sitter vs Friend and a Decision Chart Pro