Be wary of the rising cost of pet care

PETS make everyday life feel a little lighter. With each nudge of their paw or lick to your face, it feels as if the troubles of the world fade away in an instant. 

However, given the current state of the economy, everything seems to be getting more expensive with each day that passes, with one example being the prices of your pet’s basic necessities. 

Dog harness supplier Pawsafe conducted an online survey which was taken by 588 dog owners across the United States, discussing things like pet ownership and financial considerations.

This survey was done as a means of identifying trends in pet care expenses, as well as to calculate percentages for the increased costs of different categories of pet care.

Here, they reported that 74.8% of dog owners found that their pet care costs had increased; 44% said that they experienced significant increases while 30.8% noted only a slight increase. 

The most expensive factor to this was pet care, wherein 83.8% of respondents reported higher expenses for medical treatments, diagnostics, preventative care, and the like.

Second to this was food and treats, wherein 75.5% of dog owners were affected. These two things are, of course, something your pet can’t live without. The more you want to keep your pet happy and well-fed, the more money you’ll have to shell out.

Given the rising cost of ingredients, and with more pet owners investing in premium or specialized diets for their pets, it’s no surprise as to why this is one of the leading reasons. 

Other contributors to this were grooming services and pet accessories, which were reported to have a 38.1% and 38.5% increase in costs, respectively. Similar to the rising cost of food, more owners want to offer more luxurious care for their pets, hence why they may want to seek out higher-end products and/or services. 

In total, the key findings from this study were as follows:

• 84% of owners report higher costs for medical care
• three-quarters of dog parents are spending more on nutrition
• 40% of owners have noticed a price increase for grooming and accessories
• 15% of insured owners have reported costlier coverage with regard to pet insurance

“The significant increase in pet care costs across multiple categories highlights the growing financial commitment of dog ownership,” said a spokesperson from Pawsafe with regard to these findings.

“While the rising expenses in veterinary care reflect advancements in animal health, they also underscore the importance of being financially prepared for pet emergencies. With food and treat costs also on the rise, we’re seeing a shift in consumer behavior towards higher quality nutrition for pets.”

Overall, the increase in these prices points toward a desire from pet owners to offer a higher quality of living for their beloved furbabies.

Only the best for our furbabies

In 2023, a report from the Social Weather Stations (SWS) found that 64% of Filipino households have pets at home. 

Meanwhile, an article from the Filipino Vet explains that in just the first year of owning a dog, you’re probably going to spend around PHP 12 to 50, 000 for their care. Included in these expenses are medical care, food, grooming, accessories, spaying and neutering, and emergencies.

If you’re thinking about getting a pet, first consider if you’re financially stable enough to support it and its needs. If you already have one, try to think of ways that you can further invest in their care, such as setting aside a fund for pet needs. 

At the end of the day, of course, pet owners want only the best for their furbabies. Many liken having a pet to having a baby or a child that never grows up.

While it’s fun to have one at home, it’s important to remember that a pet is still a big responsibility, and it should be treated as such.