We Spend a Lot Of Money On Our Pets Each Year

We know pet owners will do just about anything for their pet, and apparently that includes spending a lot of money and going into debt. 

A new LendingTree survey finds:

  • Pet owners will spend an average of $1,163 per year on food, treats, props for social media content and other expenses.
  • That number goes up to $1,885 for folks in Gen Z.
  • Overall, 98% of pet owners say they spend about $86 a month on their pet.
  • Top expenses include:
    • Food (91%)
    • Treats (73%)
    • Toys (42%)
    • Supplies (39%)
    • Medication (26%)
    • Grooming (26%)
  • 28% of all pet owners admit they spend money on things like special outfits specifically for their dog’s social media posts.
  • That increases to 40% for Millennials and Gen Z.
  • 84% of pet owners say they treat their pet as if they were their child.
  • Which means for many, their pet’s health is incredibly important.
  • In fact, 45% of pet owners say they would take on debt to cover $1,000 in emergency pet expenses.
  • 8% are currently in debt because of their pet.
  • Among those currently in debt:
    • 25% owe between $300 and $499.
    • 11% owe more than $2,000



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