The cost of owning a pet has skyrocketed. Here are some tips to trim rising expenses

The rising cost of pet care is becoming a financial burden for many pet owners. A recent study by MetLife Pet Insurance revealed that one in five pet owners carries at least $2,000 in pet-related debt. Jeanne Warsaw, a pet owner with two cats named Idris and Elba, shared her experience of the increasing cost of veterinary care. A regular vet visit that used to cost $50 has now doubled in price, and Warsaw mentioned that the first month after adopting Elba, who suffers from seizures and skin conditions, cost close to $1,000.

In addition to veterinary care, the cost of pet food has also seen a significant increase. Warsaw highlighted the variety of healthier food options available today, including specific diet options for cats with kidney disease, thyroid issues, or diabetes. According to Rover, a pet ownership platform, the cost of owning a pet has increased by up to 10% over the past year, estimating lifetime care costs of $32,000 for a cat and $35,000 for a dog.

Paula Fasseas, the co-founder of Paws Chicago, expressed concern about the financial strain on pet owners leading to an increase in pet surrenders. She mentioned that ownership relinquishment at animal care facilities has been rising by 20% each year, with a 28% increase in pet relinquishments at Paws Chicago this year. Fasseas attributed the rising costs to changes in the veterinary industry, with big corporations acquiring vet clinics and leading to different pricing structures.

To help pet owners cut down on expenses, Fasseas recommended looking for resources online for vaccinations and utilizing community clinics for low-cost spaying or neutering. Adopting from shelters can also save thousands of dollars as pets come with medical care, vaccinations, and are spayed or neutered. Preventative care such as dental cleanings, annual checkups, and vaccines can help avoid costly procedures in the future. While pet insurance is an option, it can be expensive and may not cover pre-existing conditions.

Overall, the increasing cost of pet care is a significant concern for pet owners, but there are ways to mitigate expenses through careful research, utilizing community resources, and prioritizing preventative care for pets. By being proactive and informed, pet owners can provide the best care for their furry companions without breaking the bank.