Owning a pet has always come with costs, but for a growing number of households those costs are starting to feel unmanageable. Inflation has worked its way through nearly every category of consumer spending, and pet ownership is no exception — with food, veterinary care and everyday supplies all climbing in price over the past few years.
A survey of around 1,590 US dog and cat owners found that nearly a third are spending more on their pets than they were a year ago. Of those, 36% said they’re shelling out at least $100 a month on food and treats alone. Around 31% said pet-related expenses are a source of genuine financial stress — and that figure jumps to 58% among people whose pets have chronic health conditions.
The veterinary side of the equation has become particularly painful. Vet bills have increased roughly 43% since 2021, according to Labor Department data, driven by higher labour costs, the adoption of expensive diagnostic equipment, and growing demand for specialist care. For owners of pets with ongoing conditions, those bills can be relentless. More than 60% of owners with chronically ill pets said they’ve had to cut back spending elsewhere to keep up, compared to 48% of owners whose pets are healthy.
People are finding ways to adapt. About 40% of surveyed owners said they’re actively shopping around for better prices on routine pet supplies. Around 30% are buying in bulk, 32% have started grooming their pets at home rather than paying for professional services, and 17% are asking vets about switching to generic medications where available.
Financial planners suggest the most effective starting point is simply knowing where your money is going. Getting a clear picture of all pet-related spending — not just the obvious bills, but subscriptions, toys, grooming and incidentals — makes it easier to identify what can be trimmed and what’s non-negotiable. Some expenses are fixed; others, like a monthly toy-and-treat delivery box, may be easier to cut than they seem.
On the savings side, automating a set amount each month into a dedicated pet fund can take some of the stress out of unexpected costs. If your annual pet spending runs to around $4,000, putting aside roughly $333 a month builds a cushion without requiring any active effort. About 15% of surveyed owners said they’re already doing this.
Pet insurance is worth weighing up, though the calculus isn’t always straightforward. Most policies don’t cover routine care like checkups or vaccinations — they’re designed to absorb the cost of accidents and illnesses. Whether a policy makes financial sense depends heavily on the premium, the coverage limits, the pet’s breed and age, and how much risk the owner is comfortable carrying themselves. Some people find the peace of mind worth the monthly cost; others prefer to self-insure by building savings and paying costs as they arise. Neither approach is wrong, but having a plan of some kind matters more than which one you choose.
The broader picture is that pet ownership increasingly requires the same kind of financial planning that people apply to other major household expenses. The emotional attachment owners have to their animals doesn’t make the decisions easier — but it does make getting the financial side right more important.