I could start this off sounding like an unskippable YouTube ad and talk about how Americans love their pets, but you already know that. But what you might not be aware of is just how much Americans are willing to spend on their pets.
Here’s Five Fast Facts About America's Pet Spending:
- 🐕 Bark Ruffalo - Let’s get the main number out of the way: on average, pet owners spend $276.40 a month, which is $3,316.80 annually. If you’re bad at math, that’s a total of $136.8B annually. Impressive, right?
- 🐈 Dave Growl - To take it down even further, 55% of that total is spent on food and 24% on healthcare and visits to the vet when your dog eats a sock and you have to have it removed (no I’m not bitter, don’t judge me).
- 🐠 Chuck Nor-hiss - When it comes to age, Gen X spends the most at an average of $949 (probably because we couldn’t get anyone else to love us unconditionally), followed by Baby Boomers at $842, Millennials at $679, The Silent Generation at $495 and Gen Z rounding out the list with $395.
- 🐁 Meow-ly Cyrus - What about gender? Single women spend an average of $575 a year on their pets, while single men spend an average of $376. Observers suggest part of that may be due to pet influencers on social media.
- 🦜 Scarlett Jo-hamster - Finally, we come to pet insurance. There are a total of 40,000,000 pets with insurance policies, with 81.7% of them being dogs.
🔥Bottom line: That’s a lot of cash. But pets are part of our family, no matter the species, and just like two-legged family members, we want to give them the best we possibly can. And sometimes that’s never enough.
What kind of pets do you have?
Let us know by connecting with us on Facebook and Instagram! Also, remember to share this newsletter with your friends & coworkers!
Btw, If you’ve read this far and haven’t yet signed up for the weekly Paycheckology newsletter, CLICK HERE!
