A new study found owning a pet costs WAY more than most people think, and the price tag keeps going up.
People were asked how much they THINK it costs to care for a cat or dog for 15 years. For cats, the average answer was $5,735. And for dogs, $8,158.
But the real numbers are more like THREE TIMES that, maybe more. It depends on the type of food you buy, whether you get lucky with vet bills, and how much you spoil them.
Caring for a cat now costs anywhere from $20,000 to $47,000 of the course of their life. And for dogs, it's $22,000 to just under $61,000.
That's an average of at least $1,300 a year for cats, and $1,500 for dogs. They say even something like a rabbit can easily cost over $1,000 annually.
The cost for dogs has gone up about 12% in just the past three years, and 19% for cats. Having multiple pets does save a little on a per-pet basis, but not a lot.
So does this mean we're poised to start living pet-free? Don't count on it. More than 75% of pet owners said they think of their dog or cat as a "family member", a "best friend" or their "child."
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