(The Ascent) If you’re a pet owner, you probably spend a lot of money on their care each year. Pets require more than just a lot of love and attention. Food, medicine, pet supplies, and vet visits can add up quickly. Choosing to become a pet parent requires responsibility and proper financial planning. Find out how much the average pet owner spends on their furry friends each year.
Just like people, pets have regular expenses. While having a pet can increase happiness and improve your life, your pet relies on you for everyday care. If you’re someone who budgets, it’s a good idea to include plenty of money in your budget for your pet’s care needs.
How much does the average pet owner spend on their furry friends annually? According to a study conducted by OnePoll for AskVet, the average pet owner spends $111 monthly to care for their pet — resulting in a yearly spend of $1,332.
For pet owners with multiple pets, the total cost is even higher.
The average pet owner spends $1,300+ annually
While the typical pet owner spends over $1,300 per year to care for their pet, they spend additional money when they first bring their furry friend home.
The study also found that average pet owners make an investment of $176 on initial pet care supplies and adoption fees. It can be easy to forget about these first costs when you’re wrapped up in the excitement of bringing a new pet home.
Based on those findings, a new pet owner could expect to pay around $1,500 to care for their furry companion during the first year of pet ownership.
No matter how much money you spend to care for your pet, they appreciate all of your love, care, and attention.
