Enormous cost of owning a dog over its lifetime revealed - and what you could buy instead
- How much do YOU spend on your dog? Please email: [email protected]
US dog owners spend an average of $28,000 over the pet's lifetime, a new study suggests.
Between the cost of kibble, vet visits, dog walkers, daycare, and pet insurance, owning a pet in America has never been more expensive, according to a recent study by the MarketWatch.
Dog owners in California face the steepest premiums, spending $35,452 on a pup in its lifetime - more than the price of a Tesla Model 3 after taxes.
Following California is New York at $34,248, Massachusetts at $33,318, New Jersey at $32,947, and Washington at $32,894.
Oklahoma is the least expensive state to own a dog, costing residents $24,855 - nearly 14 percent lower than the national average.
US dog owners spend an average of $28,000 over the pet's lifetime, a new study suggests
It was followed by Mississippi at $25,104, Indiana at $25,479, Nebraska at $25,662, and Louisiana at $25,760.
On average, vaccines for puppies cost $199, spay or neuter operations cost $298, preventative medicine, such as heartworm, flea, and tick, cost $184, and general supplies cost $356 - totaling to over $1,000.
And owners are hit with a wave of reoccurring costs such as pet food, toys, treats, boarding costs, grooming, pet insurance, annual vet checkup, and emergency vet visits.
A separate study last year by USA Today found 91 percent of people say they've experienced financial stress related to pet care costs. Some 66 percent reporting they've had to cut back on personal spending to take care of their canine companion.
And more than a third were taking on extra jobs to fund their pet or in search for new income opportunities.
Dog owners in California face the steepest premiums, spending $35,452 on a pup in its lifetime - more than the price pf a Tesla Model 3 after taxes, with puppy care expenses totaling to over $1,000. Oklahoma is the least expensive state to own a dog, costing residents $24,855 - nearly 14 percent lower than the national average
Dr. Angela Beal, DVM, an Ohio-based doctor of veterinary medicine told MarketWatch that at-home grooming, boarding your dog with friends and family, and opting for pet insurance are three ways to cut corners on spending while still taking care of your four-legged friend.
'Although policyholders pay a monthly premium, insurance can cover a large portion of unexpected veterinary bills, which can significantly lower overall costs,' Beal said.
Costs have been pushed up by inflation which is currently hovering at an annual rate of 3 percent.
But hope might be on the horizon for pet owners as Bureau of Labor Statistics data shows costs have fallen slightly in the last year.
