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The Cost of Pet Care is Often Underestimated

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According to a new study by Synchrony, parent company of CareCredit and Pets Best Pet Insurance, nearly half of pet owners underestimate the lifetime cost of care for their pet. The study was based on findings from 1,200 pet owners and 100 veterinarians.

For cats, the lifetime financial breakdown (over 15 years) was as follows:

Lifetime

(15 years): $15,055 to $45,790

Annually: $960 to $2,486

Monthly: $84 to $254

Annual Spending for Cats

Food: $351 to $584

Health expenses: $374 to $965

Treats, toys, supplies and grooming: $169 to $698

Other: $66 to $239

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