· pet owners are spending more on everything, from supplies to services, even as prices rise. Is the pet economy a burgeoning trend in american pet ownership? · recent reports indicate the lifetime cost of owning a cat or dog can exceed $30,000, leading to financial strain for many owners. Should you go petless? Are pets only for the rich? · pets are increasingly becoming harder for people to afford, according to recent reports. Are pet-care costs affecting more people than ever before? A 2025 survey commissioned by metlife found 1 in 7 (15%) of u. s. Pets bring priceless benefits to our lives, but pet ownership comes with a cost – pet parents spend about $1,200 a year for dogs and $700 for cats annually. Many americans know that caring for a pet isnt cheap, but just how expensive it is can still be surprising to some. · in 2025, animal shelters across the united states are grappling with an unprecedented surge in pet surrenders, driven largely by worsening economic conditions impacting pet owners ’ ability to care for their animals. · the heightened costs are affecting more people than ever before, with two-thirds of american households owning at least one pet , according to the american pet products association. · as pet owners increasingly treat their pets as integral family members, they are committing substantial financial resources, driving the emergence of “ pet debt” as a new norm. As a result, animal shelters across the u. s. Many owners are skipping necessary veterinary care due to. Here’ s what it all means.

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