You Can't Put a Price on Puppy Love

Lifestyle

You Can't Put a Price on Puppy Love

Pets have wiggled their way into our hearts and homes for years, but do you know the impact they are having on your wallet?

May 15, 2015

Pet ownership goes beyond cats and dogs. In 2012, 68% of the U.S. population owned at least one pet. Here is the breakdown:

Priceless Pets

For most of the long history between humans and domesticated animals – approximately 14,000 years for dogs; 5,000 years for cats – the relationships were simple. In largely agrarian societies, dogs hunted for food or scavenged table scraps and leftovers; cats happily dined on the creatures drawn to grain storage bins.

However, in 1860 the first prepared dog biscuit appeared in England, and the retail pet industry was born. In 2013, 82.5 million pet-owning American households ponied up $55.5 billion to feed, groom, board, medicate, insure and lay to rest their 218 million pets (not including fish). In 2011, average pet owners spent more on their beloved animal family members ($502) than on booze ($456) or men’s and boys’ clothing ($404), says the Bureau of Labor Statistics. Despite the dollar costs, you just can’t put a price on love. Are you aware of the impact that your pets are having on your budget?

Sources: americanpetproducts.org; economy.money.cnn.com/2013/05/21/pet-spending; animal.discovery.com; miamiherald.com/2011/7/13; historyworld. net; petfoodinstitute.org; embracepetinsurance.com; bls.gov



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