Home *Copy Owning a Pet Can Put a Surprising Strain On Your Finances, Study Finds

Owning a Pet Can Put a Surprising Strain On Your Finances, Study Finds

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They love their pets with everything that they have, and that also stands true financially.
A new survey, commissioned by VIP Petcare, considered the financial commitment of keeping a dog or cat and revealed it costs an average of $2,260 to take care of them for an entire year alone.

The majority (65 percent) of the pet owners surveyed have had an unexpected cost due to a pet-related medical emergency.

Nearly six in ten (57 percent) have unfortunately struggled with paying for treatments and surgeries for their pets.

A devastated 49 percent report having to put down a sick pet due to a serious illness that they were completely unaware of.

Losing a pet is like losing a child. That’s especially true for the 84 percent of pet owners who describe themselves as ‘pet parents.

Seven in ten pet owners see their pet as a family member. Some take their pets everywhere, including on vacation and even on dates.

Three-fourths of the millennials surveyed believe that there are similarities to raising a pet and raising a child.

Over two-thirds (68 percent) of millennials have even raised a pet in preparation for raising a child.

As they’re taking care of their beloved pets they spare no expenses spending an average of $236 a year on special treats and dinners for their four-legged friends.

Half of the pet owners surveyed have even fed their pets a delicious steak dinner or cooked them a nice homemade meal.

It makes sense why people take such good care of their pets. The research shows many owners believe their pets have vastly improved their lives.

Three-fourths report becoming happier after adopting a pet, and 68 percent believe the anim
al gives them comfort.

A quarter of millennials regularly cry to their pets, and half have even shared a secret with their pet that no one else knows about.

Another reported advantage to having a pet is better health. In fact, 54 percent of dog owners credit their improved exercise habits in part to their pets.

“Preventive wellness is so important, and it takes ongoing, regular care to fully protect our pets. That is why we make it convenient to find a clinic with all of our partner host locations and wellness centers,” said a spokesperson for VIP Petcare. “We’re dedicated to improving the lives of pets and the people who love them. We do this by extending the availability of high value pet preventive and wellness veterinary services to all pet owners at an affordable cost to pet owners.”

“Through our network of clinics and wellness centers throughout the country, we strive to educate pet owners on the importance of preventive wellness care, and make it affordable to take these steps in protecting their pet.”

Pet owners also don’t spare any expenses when it comes to their pet’s wardrobe. The average owner spends $323 on their pet’s wardrobe and grooming each year.

While there’s no question that taking care of a pet is an expensive responsibility, some cost is more avoidable than others.

Owners spend an average of $296 a year on unexpected health care costs due to injuries or unforeseen illnesses.

Cat owners report spending less than dog owners per year, on average ($1,545.24 vs. $2,252.46).

“We know the importance of pets within the family, and know that pet owners want to do everything that they can to provide the best possible life for their pet,” said a spokesperson for VIP Petcare. “It takes ongoing, regular care to fully protect our pets. That is why we make it convenient to find a clinic with all of our partner host locations and wellness centers.”

For more information, please visit: www.vippetcare.com

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