When it comes to our animals, we often spend more money than we realize. And a new study confirms that in 2019, we spent more on our pets than alcohol.
A new study has shown that in 2019, Americans spent more money on their pets than they did on alcohol. And maybe it is just us, but we really are not all that surprised. In fact, we would be more surprised if our animals didn’t come out on top in terms of our spending habits.
According to MagnifyMoney‘s recent study, over the last few years the amount of money that people are willing to spend on their pets has gotten increasingly higher. In fact, just looking from 2013 to 2018 pet lovers have gone from spending $57.8 billion in 2013 to a whopping $87 billion in 2018.
And while we may not be surprised by this increase, the numbers are definitely a bit jarring. However, as the study was able to find, it is not just alcohol that we are not spending as much on in comparison to what we spend on our pets. The study also found that we are spending more money on our animals than we are on necessities like fresh vegetables and fruits, water, medicine, and even meats like pork, beef, and poultry.
More from News
Basically it seems like our dogs and cats, among other pets, are getting the majority of our money every year. Considering how many specialty foods, treats, and toys, as well as the plethora of apparel are available on the market, it makes sense that we are spending more on our animals.
In 2018 alone, the average that most people spent on their pets was approximately $662. Even though this may not seem like a ridiculous amount, it does add up over time. In fact, we have even talked about the fact that many people are putting themselves in debt for their dogs. And yet, we have no remorse over doing this, because our pets are a member of the family.
And with the amount we spend on our pets going up every year, the average we spend could reach $1,000 in no time. Considering this number doesn’t necessarily take into account excessive medical bills that can pop up, $662 is a rather conservative average when thinking about how much we tend to spend on our animals.
At the end of the day, we have no problem dropping that kind of money on our pets because they not only make us happy, but they love us and we love them. Dogs, cats, and other animals that we consider to be a pet are there for us no matter what, and that means that we don’t mind spending a bit more money on them when it comes down to it.
Besides, for a lot of us, we would rather spend that money on a toy or treat for our pups than a shot of tequila at the bar.
Are you surprised that we spend more money on our pets than we do on alcohol? Do you think spend around $662 per year on your dog? Tell us your thoughts on this study in the comments.