LendEDU surveyed 1,000 American pet owners to ask them about their spending for their pets and how it affects their personal finances. Twenty percent of respondents have gone into debt caring for their pet at an average of $1,566.96. On average, pet owners spend $139.73 per month on their pet(s).
Whether it be a dog, cat, hamster, turtle or snake, Americans spend quite a bit on their pets. So much so that total spending on pets increased by $3 billion from 2017 to 2018, with a record-breaking high of $72 billion spent on pets in 2018.