Thinking about adopting a pet? Here's how much it typically costs to own a dog or cat. (via CNBCMakeIt)
Americans collectively spent $103.6 billion on their pets in 2020, an increase from the $97.1 billion they spent on pets in 2019, according to the
Pet services, including boarding, grooming, insurance, training, pet sitting and walking, made up the remaining $8.1 billion. “First-year fees are often quite high because you are buying all the things you need and over time there are less of those things that pop up,” says Christa Chadwick, vice president of shelter services at the ASPCA.
In addition to things like food and grooming, annual costs include physical exams and vaccines. You should also be prepared for unplanned veterinary costs over your pet’s lifetime. "All you need to have is one or two medical crises and all of a sudden that budget is blown up and you are spending $5,000 or $10,000 or more in veterinary bills," Kaplan says.
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