People Are Almost Going Broke Due To Costly Pet Needs

A study has found that it will cost a pet owner at least $3,500 annually to take care of their fur-ever friend.

The research asked 2,000 pet owners – half dog owners and half cat owners – if they have a monthly budget for their animals’ essential needs. About 52% do have one and have set it at an average cap of $308.

However, people spend roughly $276.40 on their fluffy friends every month – which comes out to be $3,316.80 annually.

And perhaps this isn’t a surprise, but dogs cost more than cats to keep! About 54% of owners believe that canines are more costly due to their food, while vet checkups, medicine, grooming and cleaning products are also expensive. 

But having pets can also be a burden, with four in 10 respondents explaining they have gone into debt because of their pets’ emergency needs.

More than half of people don’t have an insurance policy for their animals, as the cost to have it is way too high.