56 Percent of American households who have pets.
36.5 Percent of households owning dogs.
30.4 Percent of households owning cats.
$62.75 billion Total expenditure on pets in 2016.
$569 Average amount of money a family with one dog and one cat will spend on Vet visits per year, assuming no surgeries.
$1,518 Total cost of Vet visits for the same family, after accounting for typical surgical spending.
$515 Average amount a one cat & one dog family will spend on pet food per year.
45 Percent of pet owners who regularly bought birthday presents for their pets.
$463 Average annual boarding costs for one dog and one cat.
$6,565 Total estimated cost for one medium size dog over its lifetime.
$7,640 Total estimated cost for one cat over its lifetime, finally proving once and for all how that sassy furball really is more high maintenance than the dog.
Bonus Pet Fact, which has absolutely nothing to do with money: Despite their reputation as quick to croak, with proper care, goldfish have a life expectancy of nearly 30 years.
The world record for the oldest pet goldfish? 43.
When you win your weekly trivia night next week, I will gladly accept all thanks. 😉
Look, I’m an animal guy. The girlfriend is definitely an animal girl. We’ve got one cat right now and will likely get ourselves a dog in the near future.
But, it’s important to know exactly what you’re getting yourself into.
Far too often, a moment of fuzzy cuteness leads to an impulse purchase, and before you know it Fido is yours for the next 15 years, and… a vet visit costs how much??
(I had buddy in college whose girlfriend convinced him to spontaneously get a dog. He did, only to realize later that night that he didn’t have enough money to buy food or a crate.)
At some point in recent history, pet ownership became a rite of passage for young adults, right alongside an overpriced apartment, a status symbol car, and a far too expensive dinning out habit. And much like the recurring rent, the auto loan payments, and constant dinner and bar tabs, this rarely considered stepping stone leaves very real ripples of expense in its wake.
Every year, according to the NCPPSP (not even going to try and recite the full name of that association’s acronym) cost of pet ownership consistently ranks in the top 3 reasons animals are given up for adoption.
An animal is not a piece of garbage clutter to be sold off when the bills get tough. A pet is a lifelong commitment with very real expenses. Young adults would be wise to budget accordingly.
Fido’s smiling face and wagging tail when he hears your keys rattling the doorlock after a long day at work? Priceless.
But don’t let Fido down. He wants you to be sure that you can afford his wet nose down to his wagging tail, and all the vet visits and birthday presents in between.
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Great post! Dogs and cats are not impulse purchases – they are commitments much like children and mortgages. We adopted a cute little shelter puppy at a rural place in Montana. $80! So cute! Runt of the litter! What could go wrong? Fast forward 2 years and puppy is a full grown, 97 pound beast running across ice to chase a squirrel. Beast dog blows out his ACL. Your facts and figures don’t have an ACL estimate, so here you go: $3000 with surgery, drugs, rehabilitation, and a weekend stay at the vet hospital. It was a strange choice to be faced with, but since he is a large dog we were advised that he wouldn’t be able to walk within a few years without repair. We are 100% ok with the choice, but it was a huge ding to our tiny emergency fund. We had recently moved for better jobs, so finances were quite tight. Cue anxiety and lots of cheap dinners and nights in to make up the gap. I am happy to report he is now a happy, go-lucky 8 year old dog who bounces along the beach, through the forest, and down the sidewalk without fail. Bouncing and frolicking courtesy of a $3000 dollar leg.
Wow, that’s quite the figure.
Jim over at Wallet Hacks mentioned he keeps pet insurance, not because he can’t afford the bills, but just because he doesn’t want to face a tough decision. An interesting take.
Glad your beast dog is happily chasing squirrels again!
Great post. We have a dog and a cat. The cat came first. One morning we went out to the patio and she was there. In the first minute when my daughter started to pet her I knew we have a cat. I was not so happy, but whatever. The dog was planned. She is a beautiful one year old border collie now. We got her for $120. If I count in all expenses, vet visits, food the annual sum is around $300 (just to note I will not buy birthday present for them, maybe double portion of food and when we are away they are at home under the supervision of a family member). But in the end when I see my daughter smiling while playing with them I know that it is money well spent. Period.
Like you said, pets can certainly be money well spent. I just want everyone to make sure they actually have the money! haha
I’m always intrigued by pet cost studies! We have a St Bernard that is going on 11 years and is fortunately very healthy. I would estimate that we’ve spent closer to $20,000+ during his life, as we spent a considerable amount moving him internationally with us several times. He’s a part of our family, so it wasn’t really an option to leave him behind. However, I think we may go with a smaller dog next time to save a little money :).
I’ve talked about my dog sitting before, and that dog is massive – at least 120+ lbs. He eats so much… I can’t even imagine what their food costs are!
We have two boxer dogs. They’re great dogs and they are part of our family and our budget. I’m always amazed at how much simple vet visits cost as well as their meds. And don’t skimp on the food unless you want high vet bills later. Definitely a lot more costs that go into owning a pet than meets the eye.
You bring up a great point. The dogs should be a part of the budget! Too often they are ignored, with awful results on either the budget or the animal.
I love that post! Made me smile thinking the UK was the only place where we’re crazy for our pets. Obviously not though (and thats a good thing). I only wish more people would give consideration to how expensive pets can be. Too many are handed back to the pound when the vet bills start coming in.
I love pets, but I couldn’t agree more.
Still, a lot less expensive than children 🙂
Love this post 🙂