Costs Of Owning Pets Much Higher Than We Thought

May 2, 2017

Dreamstime

Owning a pet is a responsibility similar to raising a child, including a financial one.   A survey of pet owners found they thought their lifetime costs of owning a cat or dog would be around $6,400 (12% thinking it would be $644). However, the actual number is higher, much higher that ranges from $27,074 to $42,545, depending on the breed. That's seven times more than we thought! That includes buying your dog, food, toys, grooming, and basic vet care (add a few more digits for catastrophic vet care).  As for cats, they're not much cheaper, costing you between $21,917 and $30,942 in its lifetime 9minus all the items they knock over and break).  Although there is some debate about money buying happiness, the overwhelming majority (93% of survey takers) said owning their pet make them feel happier.

SOURCE: CNBC (WARNING: Autoplay)

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