Yahoo Finance The truth about cats and dogs: Which pet costs you more
The average dog owner spent $3,350 on their pet last year compared to just $2,377 spent on the typical cat.
This amounts to $33,500 for an average 10-year lifespan for a dog and $28,524 for an average 12-year lifespan for a cat.
Considering most dogs are bigger than cats, it’s not particularly surprising that it’s more expensive to feed a canine.
According to the data collected by online pet supplies store Pet Circle, the average dog cost $612 to feed in 2021 compared to $469 per cat.
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Dog owners also forked out more on veterinary bills, with the average dog costing their owners $640 in vet fees compared to $413 per feline.
People also spent marginally more on pet accessories for dogs: $125 per dog versus $89 per cat.
The only category pet owners spent more on cats than dogs was on grooming services, with cat owners spending $251 and dog owners $243.
Cat owners also don’t need to pay for expenses such as dog walking, which cost the average dog owner $180 per pet in 2021.
Keeping the cost of pet ownership down
There are ways to save money on your pets while ensuring they get what they need.
Cat owner and money expert Emma Edwards, from The Broke Generation, said many people missed out on savings by failing to shop around for the best deals.
“Only one in five (19 per cent) pet parents ask for the best price when shopping for pet products,
and about a third (32 per cent) compare pet product prices across different stores before buying,
which means many are missing out on some great savings,” Edwards said.
She also recommended buying in bulk for regular items such as food, treats and flea treatment when you see a good price.
Pet Circle head vet Teagan Lever said buying the cheapest pet food may not necessarily be the cheapest option in the long run.
“Premium pet foods are highly digestible and are often more nutrient dense, which means
you may actually need to feed less, potentially saving you money in the long run and also
keeping your pet healthier,” she said.
She said some brands of premium food were only around 10-30 cents extra per day, so may be worth the additional expense.
Taking a preventative approach to your pet’s health can also save you money in the long term.
“While taking your pet to the vet for regular check-ups can feel counterintuitive when you’re
trying to save money, they can help detect any health issues earlier on and potentially help you save money in the long run,” Edwards said.
Animal owners can also save money on pet insurance by ensuring they have the coverage that's appropriate for their animal.
For example, indoor cats are very unlikely to be in road accidents, so you’ll want to opt for cover designed for indoor pets only.
“Also set up an emergency fund for your pet, ideally separate from your personal savings
account so you can manage it better, and contribute a regular amount to help you be better
prepared for unexpected costs - like health issues - that arise with your pet,” Edwards said.
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