Did you know that owning a Cat or Dog now costs at least $20,000?!

Yep, that is a bunch of money, and a study found owning a dog or cat in 2025 costs way more than what most people think it does.  Over the course of their life this study chose 15 years, yet people think it costs around $5,700 to own a cat, and $8,200 for a dog.  But the actual real life big price tag numbers are at least $20,000 and $22,000 respectively.

A new study according to Synchrony found owning a pet costs way more than what most people think, and the price tag keeps going up and up.

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People in the study were asked how much they THINK it costs to care for a cat or dog for 15 years.  For cats, the average answer was $5,735.  And for dogs, $8,158.

But get this the real numbers are more like THREE TIMES that, and they say maybe even more than that.  It all depends on the type of food you buy, whether you get on the lucky side of vet bills, and just how much you spoil them with all the things.

Caring for a cat now costs anywhere from $20,000 to $47,000 of the course of their life.  And for dogs, it's $22,000 to just under $61,000.

That's an average of at least $1,300 a year for cats, and $1,500 for dogs, and even something like a rabbit or lizard can easily cost over $1,000 annually. The average cost for dogs has gone up about 12% in just the past three years, and 19% for cats.  Having multiple pets on the other hand does save a little on a per-pet basis, but not a whole lot.

So, does this mean we're poised to start living in a pet-free world?  Don't count on it. Absolutely not.  More than 75% of pet owners said they think of their dog or cat as a family member, best friend . . . or their child. That is because they are all of those things!