Synchrony study unveils staggering findings surrounding lifetime cost of pet ownership

Synchrony did a study that found the lifetime cost of owning a pet is extremely high. When it comes to a dog that price can range between 20,000 dollars and 55,000 dollars. A cat is expensive as well with the range being between 15,000 and 45,000 dollars. About 90.5 million homes currently have a pet and back in 2020 over 1 billion dollars was spent on pet care. Since the pandemic began, about 1 in 5 homes have also added a new pet as well.

Key Takeaways:

• The estimated care for a pet for their lifetime ranges between 20 to 55 thousand for dogs and 15 to 45 thousand for cats.
• 90.5 million homes currently have a pet and over 100 billion dollars was spent on pet care.
• Since the pandemic has begun it is estimated that 1 in 5 houses have added a new pet to their family.

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Read more: https://www.dvm360.com/view/synchrony-study-unveils-staggering-findings-surrounding-lifetime-cost-of-pet-ownership