Pet Owners Spend up to $55,000 during a Pet’s Lifetime, Synchrony Study Reveals

Synchrony, a consumer financial services company, recently published a new STUDY regarding the lifetime cost of pet ownership for both cats and dogs.

The LIFETIME OF CARE study by Synchrony shows the following:

  • The lifetime cost for dogs ranges from $20,000 to $55,000.
  • The lifetime cost for cats ranges from $15,000 to $45,000.
  • This study asked pet owners if they thought they were financially prepared for pet ownership at the outset — and if, after a few years, the realty matched their expectations.
    • 45% of dog owners thought they were financially ready for pet expenses (but were not).
    • 38% of cat owners thought they were financially ready for pet expenses (but were not).

Methodology: The Synchrony Lifetime of Care study included 1,200 pet owners and 100 veterinarians.

RELATED:

PRESS RELEASE: Synchrony Study Reveals Pet Owners Spend As Much As $55,000 During A Pet’s Lifetime (1.11.22)
https://www.prnewswire.com/news-releases/synchrony-study-reveals-pet-owners-spend-as-much-as-55-000-during-a-pets-lifetime-301457497.html

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