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.
PRESS RELEASE: Synchrony Study Reveals Pet Owners Spend As Much As $55,000 During A Pet’s Lifetime (1.11.22)
- Synchrony’s CareCredit Acquires Pet Health Insurance Company Pets Best (3.24.19)