During the first months of the pandemic, it was reported that Google searches for the adoption of pets, dogs and cats mainly skyrocketed. There was even talk of a 250% increase in global searches during April and May 2020, compared to the same period in 2019.
His company was vital in mitigating the isolation and negative emotions that this brought to us. According to data from the ASPCA (American Society for the Prevention of Cruelty to Animals), since the beginning of the COVID-19 crisis one in five American households, or 23 million, brought a dog or a cat to home.
Have those adorable creatures doing home office Beside us it was adorable and comforting, however, the costs gradually materialized, especially for first-time owners. According to a survey conducted by OnePoll and MetLife, pet owners noted that they spend around $ 4,500 (about $ 34,000 thousand Mexican pesos) in care per year, more than they expected in 61% of cases.
In fact, two in five respondents said that their furry friends are as expensive, or even more, than their human dependents, so it is not surprising that 60% said they save $ 200 (approximately $ 4,100 pesos) from each check to cover your pet’s needs.
The financial realities of pandemic pets
Remote work made things a bit easier at the height of the pandemic, but now that little by little many activities are being resumed and schools and offices are being returned to, things are moving in direction. Nurseries and walkers are finding new opportunities to recover from the crisis. For the parents of many dogs, expenses begin to skyrocket.
Having a pet involves a financial commitment: vaccinations, food, medical emergencies… How can pet owners maintain that rhythm of care without emptying their accounts? In essence through three fundamental aspects:
PREVENTIVE CARE: vital to avoid a critical health condition derived from the lack of prevention. Being up to date with vaccinations and periodic check-ups will be essential to avoid having to go to the emergency vet
FOOD: a poor diet can cause diseases in the hair and skin due to the fact that the pet does not ingest the necessary nutrients. An adequate diet not only covers your food requirements, but also protects you from pathologies
INSURANCE: definitely consider this coverage, if you don’t have it, you could be forced to make very difficult decisions (and make huge out-of-pocket expenses).
Don’t stop reading: All about insurance for pets, the spoiled ones of the house
Pet spending by generation
Have you ever wondered if you spend more on your dog than your parents would be willing to spend on their pet? I do and, in that sense, I discovered a very interesting survey from Lendingtree published last September.
The findings correspond to US owners, but they are very interesting (even extrapolated to Mexico), because although pet owners spend an annual average of $ 1,163 USD ($ 24,160 pesos) on their pets, that total varies by generation.
Generation Z is the one that invests the most in their pets with an annual expense of $ 1,885 USD ($ 39,159 pesos). Millennials, on the other hand, spend $ 1,195 USD ($ 24,825 pesos), Generation X $ 1,100 USD ($ 22,851 pesos) and baby boomers spend $ 926 USD ($ 19,237 pesos).
The most curious thing is that generation Z (born between 1995 and 2000) tend to have the highest expenses because they tend to insure their pets more and because getting your furry friend to have a large number of followers on Instagram is not cheap. As you read it … many of them put a considerable amount of money to buy special clothes or accessories so that, in social media posts, their little darlings look their best. How about?
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