A study has found that owning a cat or a dog will set you back £17,000, showing that owning a pet is a large financial commitment.

Research from Sainsbury’s Pet Insurance found that keeping a dog for their average lifespan of 13 years will cost £16,900. This sum includes all dog supplies such as food and vet care and works at about £1,418 a year.

Owning a cat will cost you slightly more as the average cat will live for 15 years, compared to a dog’s 13. A cat will cost will around £17,200 in its lifetime, which is about £1,028 each year on cat supplies.

 

Cutepuppyandkitten

They look cute but owning one of these may cost more than you expect

For dog owners, a third of the annual spend is food and 15% is vet costs whereas for a cat 41% of the amount is the cost of food and medical bills come to around 13% of the total. Other expenses include toys and treats, pet sitting, grooming and kennel/cattery costs.

However, the cost of owning a pet rises as they get older as they will require more medical attention. If a dog lives to be 20 years old, the total cost of caring for them could reach £27,000 showing that owning a pet can cost considerably more if you have a pet with an unusually long lifespan. The cat thought to be the oldest that ever lived reached the ripe old age of 39, whereas the oldest dog lived to be 29, so it’s important to think about the long term financial implications before committing to getting a new pet.