Being a pet parent can be expensive. And when it comes to actually spoiling our pets, it can add even more to the budget. But have you ever wondered who actually spends the most on their pets?
We all think that millenials are the ones that are going all out on spoiling their pets. But is that really true? Thanks to MarketWatch, we have a better idea of what is really going on when it comes to which generation is spending the most on their pets, and the answer might just surprise you.
Thanks to data that they pulled together from the U.S. Bureau of Labor Statistics, we know that the generation that is actually spending the most on their pets is really Generation X, followed closely by the Baby Boomers!
What is each generation spending on their pets?
It turns out that Generation X is spending an average of $949 on their pets, which is 0.81% of their annual income. And right on their heels is the Baby Boomers who are spending $842 on their pets.
Millennials are actually spending $679 on average when it comes to the pets. For the Silent Generation, pet spending is at $495 per year on average. And finally we have Generation Z, which spending just $369 per year on their pets.
In a lot of ways, it does make sense that some generations are spending less on their pets when you consider that for a lot of people, disposable income is not that easy to come by. And as we have already pointed out, being a pet parent can get expensive.
It is fascinating to think about the fact that while one generation might be seen as being pet obsessed, that doesn't necessarily mean that they have the financial means to go all out when it comes to spoiling those pets. While we are surprised by which generations are more likely to spend money on their pets, we do understand that having more income to work with is a main reason for this.
But we want to know what you think of this data? Are there any surprises here for you? Did you expect a different generation to be out here spoiling their pups?