How Much Do Americans Spend On Pets?<\/title><link rel=\"preload\" data-rocket-preload=\"\" as=\"font\" href=\"https:\/\/finmasters.com\/wp-content\/plugins\/wpdiscuz\/assets\/third-party\/font-awesome-5.13.0\/webfonts\/fa-regular-400.woff2\" crossorigin=\"\"\/><link rel=\"preload\" data-rocket-preload=\"\" as=\"font\" href=\"https:\/\/finmasters.com\/wp-content\/plugins\/wpdiscuz\/assets\/third-party\/font-awesome-5.13.0\/webfonts\/fa-solid-900.woff2\" crossorigin=\"\"\/><link rel=\"preload\" data-rocket-preload=\"\" as=\"font\" href=\"https:\/\/finmasters.com\/wp-content\/themes\/finmasters\/fonts\/Lora-Medium.woff2\" crossorigin=\"\"\/><link rel=\"preload\" data-rocket-preload=\"\" as=\"font\" href=\"https:\/\/finmasters.com\/wp-content\/themes\/finmasters\/fonts\/lexend-deca-v16-latin-300.woff2\" crossorigin=\"\"\/><link rel=\"preload\" data-rocket-preload=\"\" as=\"font\" href=\"https:\/\/finmasters.com\/wp-content\/themes\/finmasters\/fonts\/lexend-deca-v16-latin-700.woff2\" crossorigin=\"\"\/>\n\t<meta name=\"description\" content=\"We take a look into pet spending statistics to see just how much money Americans spend on their pets each year.\"\/>\n\t<link rel=\"canonical\" href=\"https:\/\/finmasters.com\/pet-spending-statistics\/\"\/>\n\t<meta property=\"og:locale\" content=\"en_US\"\/><br \/>\n\t<meta property=\"og:type\" content=\"article\"\/><br \/>\n\t<meta property=\"og:title\" content=\"How Much Do Americans Spend On Pets?\"\/><br \/>\n\t<meta property=\"og:description\" content=\"We take a look into pet spending statistics to see just how much money Americans spend on their pets each year.\"\/><br \/>\n\t<meta property=\"og:url\" content=\"https:\/\/finmasters.com\/pet-spending-statistics\/\"\/><br \/>\n\t<meta property=\"og:site_name\" content=\"FinMasters\"\/><br \/>\n\t<meta property=\"article:published_time\" content=\"2022-06-17T10:00:45+00:00\"\/><br \/>\n\t<meta property=\"article:modified_time\" content=\"2025-02-06T11:19:19+00:00\"\/><br \/>\n\t<meta property=\"og:image\" content=\"https:\/\/mlsjoxwh2dv5.i.optimole.com\/cb:fJ2b~7176\/w:auto\/h:auto\/q:90\/f:best\/https:\/\/finmasters.com\/wp-content\/uploads\/2022\/06\/Pet-Spending-Statistics-1.jpg\"\/><br \/>\n\t<meta property=\"og:image:width\" content=\"2180\"\/><br \/>\n\t<meta property=\"og:image:height\" content=\"1090\"\/><br \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\"\/><br \/>\n\t<meta name=\"author\" content=\"Ana-Ioana Ciochia\"\/><br \/>\n\t<meta name=\"twitter:card\" content=\"summary_large_image\"\/><br \/>\n\t<meta name=\"twitter:label1\" content=\"Written by\"\/><br \/>\n\t<meta name=\"twitter:data1\" content=\"Ana-Ioana Ciochia\"\/><br \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\"\/><br \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\"\/><\/p>\n<p>\t<\/p>\n<link rel=\"dns-prefetch\" href=\"https:\/\/mlsjoxwh2dv5.i.optimole.com\"\/>\n<link rel=\"preconnect\" href=\"https:\/\/mlsjoxwh2dv5.i.optimole.com\"\/>\n<link rel=\"alternate\" type=\"application\/rss+xml\" title=\"FinMasters \u00bb Feed\" href=\"https:\/\/finmasters.com\/feed\/\"\/>\n<link rel=\"alternate\" type=\"application\/rss+xml\" title=\"FinMasters \u00bb Comments Feed\" href=\"https:\/\/finmasters.com\/comments\/feed\/\"\/>\n<link rel=\"alternate\" type=\"application\/rss+xml\" title=\"FinMasters \u00bb How Much Do Americans Spend On Pets? 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href=\"https:\/\/finmasters.com\/\"><br \/>\n \t\t\t<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/finmasters.com\/wp-content\/themes\/finmasters\/img\/logo.svg\" class=\"logo-img\" width=\"320\" height=\"104\" alt=\"FinMasters logo\"\/><br \/>\n \t\t<\/a>\n \t<\/div>\n<p> <label class=\"toggle\" for=\"side-menu\"><span class=\"toggle-line\"\/><\/label><\/p>\n<nav id=\"site-navigation\" class=\"main-navigation\" role=\"navigation\">\n \t\t \t<\/nav>\n<\/p><\/div>\n<\/header>\n<div class=\"banner banner-blue \">\n<div class=\"container content-wrapper\">\n<div class=\"post-details\">\n<div class=\"posted-by posted-by-author\">\n\t\t\t\t\tBy <span><span class=\"label posted-by-name\">Ana-Ioana Ciochia<\/span><\/p>\n<div class=\"post-details-pop authorpop\">\n\t\t\t\t\t\t<span class=\"post-details-pop-arrow\"\/><\/p>\n<div class=\"post-details-pop-body\">\n\t\t\t\t\t\t\t<svg class=\"svg-icon post-details-pop-close\" viewbox=\"0 0 20 20\" height=\"25\" width=\"25\" 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width=\"60\" height=\"60\" alt=\"Ana-Ioana Ciochia\"\/><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/mlsjoxwh2dv5.i.optimole.com\/cb:fJ2b~7176\/w:60\/h:60\/q:90\/f:best\/https:\/\/finmasters.com\/wp-content\/uploads\/2022\/06\/Ana-Ciochia.jpg\" width=\"60\" height=\"60\" alt=\"Ana-Ioana Ciochia\"\/>\n\t\t\t\t\t\t\t<\/div>\n<p class=\"author-description\">Ana-Ioana Ciochia is a fact checker, researcher and writer for FinMasters. She holds a Bachelor’s degree in Chinese and English and is working on her Master’s degree in International Management and Marketing.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<p> \t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t<\/div>\n<p>\t\t\t\t<span class=\"posted-on\"><br \/>\n\t\t\t\t\tUpdated on <time class=\"updated\" itemprop=\"dateModified\" date=\"2024-01-11\">Jan 11, 2024<\/time><br \/>\n\t\t\t\t<\/span>\t<\/p>\n<div class=\"posted-by posted-by-editor\">\n\t\t\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"13\" height=\"13\" viewbox=\"0 0 117.72 117.72\" fill=\"none\">\n\t\t\t\t\t\t<path class=\"st0\" d=\"M58.86,0c9.13,0,17.77,2.08,25.49,5.79c-3.16,2.5-6.09,4.9-8.82,7.21c-5.2-1.89-10.81-2.92-16.66-2.92 c-13.47,0-25.67,5.46-34.49,14.29c-8.83,8.83-14.29,21.02-14.29,34.49c0,13.47,5.46,25.66,14.29,34.49 c8.83,8.83,21.02,14.29,34.49,14.29s25.67-5.46,34.49-14.29c8.83-8.83,14.29-21.02,14.29-34.49c0-3.2-0.31-6.34-0.9-9.37 c2.53-3.3,5.12-6.59,7.77-9.85c2.08,6.02,3.21,12.49,3.21,19.22c0,16.25-6.59,30.97-17.24,41.62 c-10.65,10.65-25.37,17.24-41.62,17.24c-16.25,0-30.97-6.59-41.62-17.24C6.59,89.83,0,75.11,0,58.86 c0-16.25,6.59-30.97,17.24-41.62S42.61,0,58.86,0L58.86,0z M31.44,49.19L45.8,49l1.07,0.28c2.9,1.67,5.63,3.58,8.18,5.74 c1.84,1.56,3.6,3.26,5.27,5.1c5.15-8.29,10.64-15.9,16.44-22.9c6.35-7.67,13.09-14.63,20.17-20.98l1.4-0.54H114l-3.16,3.51 C101.13,30,92.32,41.15,84.36,52.65C76.4,64.16,69.28,76.04,62.95,88.27l-1.97,3.8l-1.81-3.87c-3.34-7.17-7.34-13.75-12.11-19.63 c-4.77-5.88-10.32-11.1-16.79-15.54L31.44,49.19L31.44,49.19z\" fill=\"#01A601\"\/>\n\t\t\t\t\t<\/svg><br \/>\n\t\t\t\t\tReviewed by <span><span class=\"label posted-by-name\">Steve Rogers<\/span><\/p>\n<div class=\"post-details-pop editorpop\">\n\t\t\t\t\t\t<span class=\"post-details-pop-arrow\"\/><\/p>\n<div class=\"post-details-pop-body\">\n\t\t\t\t\t\t\t<svg class=\"svg-icon post-details-pop-close\" viewbox=\"0 0 20 20\" height=\"25\" width=\"25\" preserveaspectratio=\"none\">\n\t\t\t\t\t\t\t<path fill=\"#393939\" d=\"M12.71,7.291c-0.15-0.15-0.393-0.15-0.542,0L10,9.458L7.833,7.291c-0.15-0.15-0.392-0.15-0.542,0c-0.149,0.149-0.149,0.392,0,0.541L9.458,10l-2.168,2.167c-0.149,0.15-0.149,0.393,0,0.542c0.15,0.149,0.392,0.149,0.542,0L10,10.542l2.168,2.167c0.149,0.149,0.392,0.149,0.542,0c0.148-0.149,0.148-0.392,0-0.542L10.542,10l2.168-2.168C12.858,7.683,12.858,7.44,12.71,7.291z M10,1.188c-4.867,0-8.812,3.946-8.812,8.812c0,4.867,3.945,8.812,8.812,8.812s8.812-3.945,8.812-8.812C18.812,5.133,14.867,1.188,10,1.188z M10,18.046c-4.444,0-8.046-3.603-8.046-8.046c0-4.444,3.603-8.046,8.046-8.046c4.443,0,8.046,3.602,8.046,8.046C18.046,14.443,14.443,18.046,10,18.046z\"\/>\n\t\t\t\t\t\t\t<\/svg><\/p>\n<div class=\"person-info\">\n\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/mlsjoxwh2dv5.i.optimole.com\/cb:fJ2b~7176\/w:60\/h:60\/q:90\/f:best\/https:\/\/finmasters.com\/wp-content\/uploads\/2021\/08\/head-shot-.jpg\" width=\"60\" height=\"60\" alt=\"Steve Rogers\"\/><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/mlsjoxwh2dv5.i.optimole.com\/cb:fJ2b~7176\/w:60\/h:60\/q:90\/f:best\/https:\/\/finmasters.com\/wp-content\/uploads\/2021\/08\/head-shot-.jpg\" width=\"60\" height=\"60\" alt=\"Steve Rogers\"\/>\n\t\t\t\t\t\t\t<\/div>\n<p class=\"author-description\">Steve Rogers has been a professional writer and editor for over 30 years, specializing in personal finance, investment, and the impact of political trends on financial markets and personal finances.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<p>\t\t\t\t\t<\/span>\n\t\t\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div id=\"content\">\n<div class=\"content-wrapper\">\n\t\t\t\t<main id=\"main\" role=\"main\"><\/p>\n<article id=\"post-47419\" class=\"post-47419 post type-post status-publish format-standard has-post-thumbnail hentry category-statistics tag-featured\">\n<div class=\"wp-block-group item1200 is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-group__inner-container\">\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-layout-1 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<p>How much money do Americans spend on their furry friends each year? We crunched the numbers, and here\u2019s what we found.<\/p>\n<p>The American love of pets is legendary, so it won\u2019t come as a surprise to anybody that Americans spend more on their pets than the citizens of any other country in the world. The numbers also suggest a warning: pet ownership comes with great responsibility and can involve a considerable financial cost. <\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"wp-block-group item700 has-light-gray-color has-fm-dark-blue-background-color has-text-color has-background is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-group__inner-container\">\n<h2 class=\"wp-block-heading\" id=\"key-findings\">Key Findings<\/h2>\n<ul>\n<li><strong>1 out of 2<\/strong> U.S. households own a pet.<\/li>\n<li><strong>$136.8 billion<\/strong> was spent on our furry friends in the U.S. \u2013 the equivalent of 171,214 houses in New York City.<\/li>\n<li>An average U.S. pet owner will spend <strong>$912<\/strong> a year on their dog and <strong>$653<\/strong> on their cat.<\/li>\n<li>Both cat and dog owners spend most on <strong>vet visits, food and OTC medicine<\/strong>.<\/li>\n<li>Highly educated people aged <strong>55-64<\/strong> with an income of <strong>$200,000 or more<\/strong> spend most on their four-legged friends.<\/li>\n<li><strong>More and more people insure their pets<\/strong>. The number of insured pets in 2022 was 21.7% higher than in 2021.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<div class=\"wp-block-group item700 is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-group__inner-container\">\n<h2 class=\"wp-block-heading\" id=\"how-many-pets-are-there-in-the-us\">How Many Pets Are There in the U.S.?<\/h2>\n<p class=\"has-text-align-left\">Studies show that <strong>1 out of 2<\/strong> U.S. households own a pet, which equates to<strong>\u00a086.9 million homes<\/strong>.<sup>[1]<\/sup><\/p>\n<p>It\u2019s not surprising that dogs outnumber all other species by far. Also not surprising is that the second most kept pet is a cat. It might come as a surprise that <strong>6.0 million<\/strong> U.S. households own a reptile. In fact, there\u2019s <strong>one<\/strong> <strong>reptile<\/strong> for every <strong>11 dogs<\/strong>. <sup>[1]<\/sup><\/p>\n<\/div>\n<\/div>\n<div class=\"wp-block-group item900 has-light-gray-background-color has-background is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-group__inner-container\">\n<div class=\"wp-block-group item900 ticss-a9dd8462 is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-group__inner-container\">\n<h2 class=\"wp-block-heading has-text-align-center\" id=\"how-much-do-americans-spend-on-their-pets\">How Much Do Americans Spend On Their Pets?<\/h2>\n<p class=\"has-text-align-center\">In total, Americans spent <strong>$136.8 billion<\/strong> on pet products and services in 2022. This is equal to buying <strong>2,824,247<\/strong> new cars. The average dog owner spent <strong>$912<\/strong> and the average cat owner spent <strong>$653<\/strong>.<sup>[1]<\/sup><\/p>\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-layout-2 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<h3 class=\"wp-block-heading hnm\">Total Pet Spending<\/h3>\n<p>As mentioned above, Americans spent\u00a0<strong>136.8 billion<\/strong> in total on pets in 2022.<\/p>\n<p>This represents a <strong>10%<\/strong> increase in spending on pets compared to 2021 and a whopping <strong>50%<\/strong> increase compared to 2018.<sup>[1]<\/sup><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<h3 class=\"wp-block-heading has-text-align-center hnm\">Pet Spending by Products & Services<\/h3>\n<p class=\"has-text-align-left\">Data from AVMA shows that, unsurprisingly, the costliest items of owning both a cat and a dog are vet visits and pet food. The third most expensive item is grooming for dogs and toys for cats, as cats require much less grooming than dogs. A dog owner spends, on average, <strong>$99<\/strong> a year on <strong>grooming<\/strong>, while cat owners only spend <strong>$18<\/strong>.<sup>[4]<\/sup><\/p>\n<\/div>\n<\/div>\n<div class=\"wp-block-group item1200 has-light-yellow-background-color has-background is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-group__inner-container\">\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-layout-3 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-vertically-aligned-top item900 is-layout-flow wp-block-column-is-layout-flow\">\n<h3 class=\"wp-block-heading has-text-align-left\">Cost Of Owning A Dog Vs Cat<\/h3>\n<p class=\"has-text-align-left\">U.S. pet owners reportedly spend on average<strong> $912<\/strong> every single year on their dogs and <strong>$653<\/strong> a year on their cats.<sup>[4]<\/sup> On average, this comes out at around <strong>$76\/month per dog<\/strong> and <strong>$54\/month per cat<\/strong>.<\/p>\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full is-resized\"><img src=\"https:\/\/mlsjoxwh2dv5.i.optimole.com\/cb:fJ2b~7176\/w:400\/h:200\/q:90\/f:best\/https:\/\/finmasters.com\/wp-content\/uploads\/2024\/01\/Average-Annual-Spending-Pets-3.png\" fetchpriority=\"high\" decoding=\"async\" width=\"400\" height=\"200\" alt=\"Annual cost of owning a dog vs. a cat\" class=\"wp-image-228969\" style=\"width:376px;height:auto\"\/><img fetchpriority=\"high\" decoding=\"async\" width=\"400\" height=\"200\" src=\"https:\/\/mlsjoxwh2dv5.i.optimole.com\/cb:fJ2b~7176\/w:400\/h:200\/q:90\/f:best\/https:\/\/finmasters.com\/wp-content\/uploads\/2024\/01\/Average-Annual-Spending-Pets-3.png\" alt=\"Annual cost of owning a dog vs. a cat\" class=\"wp-image-228969\" style=\"width:376px;height:auto\" srcset=\"https:\/\/mlsjoxwh2dv5.i.optimole.com\/cb:fJ2b~7176\/w:400\/h:200\/q:90\/f:best\/https:\/\/finmasters.com\/wp-content\/uploads\/2024\/01\/Average-Annual-Spending-Pets-3.png 400w, https:\/\/mlsjoxwh2dv5.i.optimole.com\/cb:fJ2b~7176\/w:300\/h:150\/q:90\/f:best\/https:\/\/finmasters.com\/wp-content\/uploads\/2024\/01\/Average-Annual-Spending-Pets-3.png 300w, https:\/\/mlsjoxwh2dv5.i.optimole.com\/cb:fJ2b~7176\/w:296\/h:148\/q:90\/f:best\/https:\/\/finmasters.com\/wp-content\/uploads\/2024\/01\/Average-Annual-Spending-Pets-3.png 296w, https:\/\/mlsjoxwh2dv5.i.optimole.com\/cb:fJ2b~7176\/w:390\/h:195\/q:90\/f:best\/https:\/\/finmasters.com\/wp-content\/uploads\/2024\/01\/Average-Annual-Spending-Pets-3.png 390w, https:\/\/mlsjoxwh2dv5.i.optimole.com\/cb:fJ2b~7176\/w:270\/h:135\/q:90\/f:best\/https:\/\/finmasters.com\/wp-content\/uploads\/2024\/01\/Average-Annual-Spending-Pets-3.png 270w\" sizes=\"(max-width: 400px) 100vw, 400px\"\/><\/figure>\n<\/div>\n<p class=\"has-text-align-left\">The total amount includes items and services ranging from food and treats to vet visits and grooming.<\/p>\n<\/div>\n<div class=\"wp-block-column is-vertically-aligned-top is-layout-flow wp-block-column-is-layout-flow\">\n<h3 class=\"wp-block-heading\">Money Spent On Gifts For Pets<\/h3>\n<p>When it comes to toys and treats, dog owners spend <strong>$79<\/strong> a year on gifts for their four-legged friends, while cat owners spend <strong>$50<\/strong> a year on their cat companions.<sup>[4]<\/sup><\/p>\n<div class=\"wp-block-image is-resized\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" src=\"https:\/\/mlsjoxwh2dv5.i.optimole.com\/cb:fJ2b~7176\/w:400\/h:200\/q:90\/f:best\/https:\/\/finmasters.com\/wp-content\/uploads\/2024\/01\/Untitled-design-6.png\" decoding=\"async\" width=\"400\" height=\"200\" alt=\"Gifts for pets image\" class=\"wp-image-228971\"\/><img loading=\"lazy\" decoding=\"async\" width=\"400\" height=\"200\" src=\"https:\/\/mlsjoxwh2dv5.i.optimole.com\/cb:fJ2b~7176\/w:400\/h:200\/q:90\/f:best\/https:\/\/finmasters.com\/wp-content\/uploads\/2024\/01\/Untitled-design-6.png\" alt=\"Gifts for pets image\" class=\"wp-image-228971\" srcset=\"https:\/\/mlsjoxwh2dv5.i.optimole.com\/cb:fJ2b~7176\/w:400\/h:200\/q:90\/f:best\/https:\/\/finmasters.com\/wp-content\/uploads\/2024\/01\/Untitled-design-6.png 400w, https:\/\/mlsjoxwh2dv5.i.optimole.com\/cb:fJ2b~7176\/w:300\/h:150\/q:90\/f:best\/https:\/\/finmasters.com\/wp-content\/uploads\/2024\/01\/Untitled-design-6.png 300w, https:\/\/mlsjoxwh2dv5.i.optimole.com\/cb:fJ2b~7176\/w:296\/h:148\/q:90\/f:best\/https:\/\/finmasters.com\/wp-content\/uploads\/2024\/01\/Untitled-design-6.png 296w, https:\/\/mlsjoxwh2dv5.i.optimole.com\/cb:fJ2b~7176\/w:390\/h:195\/q:90\/f:best\/https:\/\/finmasters.com\/wp-content\/uploads\/2024\/01\/Untitled-design-6.png 390w, https:\/\/mlsjoxwh2dv5.i.optimole.com\/cb:fJ2b~7176\/w:270\/h:135\/q:90\/f:best\/https:\/\/finmasters.com\/wp-content\/uploads\/2024\/01\/Untitled-design-6.png 270w\" sizes=\"auto, (max-width: 400px) 100vw, 400px\"\/><\/figure>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"wp-block-group item900 is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-group__inner-container\">\n<h2 class=\"wp-block-heading has-text-align-center\" id=\"who-spends-most-on-their-pets\">Who Spends Most on Their Pets?<\/h2>\n<p class=\"has-text-align-center\">Next, let\u2019s take a look at pet spending by demographics. We\u2019ll look at differences in pet spending by income, age and education level.<\/p>\n<h3 class=\"wp-block-heading has-text-align-center hnm\">Pet Spending by Income<\/h3>\n<div class=\"wp-block-columns item900 is-layout-flex wp-container-core-columns-layout-4 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:50%\">\n<p>Pet spending statistics show that pet owners of almost all income levels spend roughly <strong>1% of their annual earnings on their pets<\/strong>.<\/p>\n<p class=\"has-text-align-left\">The 2022 Consumer Expenditure Survey data shows that pet owners in the <strong>$200,000 or more income bracket<\/strong> spend the most on their pets \u2013 $1,455 annually.<\/p>\n<p class=\"has-text-align-left\">People earning less than <strong>$15,000\/year<\/strong> still spend <strong>$365<\/strong> a year on their pets.<sup>[2]<\/sup><\/p>\n<\/div>\n<\/div>\n<div class=\"wp-block-columns item900 is-layout-flex wp-container-core-columns-layout-5 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<h3 class=\"wp-block-heading hnm\">Pet Spending by Age<\/h3>\n<p>Pet spending statistics show that people aged <strong>55-64<\/strong> spend the most money on their pets: <strong>$900\/year<\/strong>.<sup>[2]<\/sup><\/p>\n<p>Pet owners aged <strong>75+<\/strong> spend the least of all age groups: <strong>$351\/year<\/strong>. <\/p>\n<p>Low pet spending in the\n<\/p>\n<\/div>\n<\/div>\n<h3 class=\"wp-block-heading has-text-align-center hnm\">Pet Spending By Educational Level<\/h3>\n<div class=\"wp-block-columns are-vertically-aligned-top is-layout-flex wp-container-core-columns-layout-6 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-vertically-aligned-top is-layout-flow wp-block-column-is-layout-flow\">\n<p>Pet spending statistics show (with one exception) that the more educated pet owners spend more money on products & services for their pets. This correlates to the spending by income level we\u2019ve seen above since people with higher education are more likely to earn more.<\/p>\n<p>The one exception seems to be pet owners who did not graduate high school. They spend on average <strong>$564\/year<\/strong> on their pets.<sup>[2]<\/sup><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"wp-block-group item900 has-light-gray-background-color has-background is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-group__inner-container\">\n<h2 class=\"wp-block-heading has-text-align-center hnm\" id=\"how-many-pets-are-insured\">How Many Pets Are Insured?<\/h2>\n<div class=\"wp-block-columns are-vertically-aligned-top is-layout-flex wp-container-core-columns-layout-7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-vertically-aligned-top is-layout-flow wp-block-column-is-layout-flow\">\n<p>Over the course of 2022, the number of insured pets in the United States increased by <strong>22.1%<\/strong>. <\/p>\n<p>Dogs represent <strong>80.1%<\/strong> of the insured pets, while cats account for only <strong>19.9%<\/strong>. <\/p>\n<p>The reason behind the small number of insured cats could be due to the fact that cats mostly stay indoors and they rarely travel with their owners.<sup>[3]<\/sup><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"wp-block-group item700 is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-group__inner-container\">\n<h2 class=\"wp-block-heading\" id=\"FAQs\">Pet Spending FAQs<\/h2>\n<div id=\"wp-block-themeisle-blocks-accordion-52568bae\" data-has-schema=\"true\" class=\"wp-block-themeisle-blocks-accordion exclusive\">\n<details open=\"\" class=\"wp-block-themeisle-blocks-accordion-item\">\n<summary class=\"wp-block-themeisle-blocks-accordion-item__title\">\n<p><strong>How much do Americans spend on pets?<\/strong><\/p>\n<\/summary>\n<div class=\"wp-block-themeisle-blocks-accordion-item__content\">\n<p>Studies show that Americans spend a total of $136.8 billion on pet products and services. This is the equivalent of buying <strong>2,824,247<\/strong> new cars.<\/p>\n<\/div>\n<\/details>\n<details class=\"wp-block-themeisle-blocks-accordion-item\">\n<summary class=\"wp-block-themeisle-blocks-accordion-item__title\">\n<p><strong>How much do pets cost per month?<\/strong><\/p>\n<\/summary>\n<div class=\"wp-block-themeisle-blocks-accordion-item__content\">\n<p>Average dog owners spend <strong>$76 <\/strong>a month on their dogs and average cat owners spend <strong>$54<\/strong> a month on their cats.<\/p>\n<\/div>\n<\/details>\n<details class=\"wp-block-themeisle-blocks-accordion-item\">\n<summary class=\"wp-block-themeisle-blocks-accordion-item__title\">\n<p><strong>How much does pet insurance cost?<\/strong><\/p>\n<\/summary>\n<div class=\"wp-block-themeisle-blocks-accordion-item__content\">\n<p>The average price that a pet owner has to pay for pet insurance (accident & illness) amounts to <strong>$640<\/strong> a year for dogs and <strong>$387<\/strong>\/year for cats.<\/p>\n<\/div>\n<\/details>\n<details class=\"wp-block-themeisle-blocks-accordion-item\">\n<summary class=\"wp-block-themeisle-blocks-accordion-item__title\">\n<p><strong>How much does pet microchipping cost?<\/strong><\/p>\n<\/summary>\n<div class=\"wp-block-themeisle-blocks-accordion-item__content\">\n<p>The average price of microchipping a pet ranges between <strong>$50<\/strong> and <strong>$70<\/strong> for both cats and dogs. <\/p>\n<\/div>\n<\/details>\n<details class=\"wp-block-themeisle-blocks-accordion-item\">\n<summary class=\"wp-block-themeisle-blocks-accordion-item__title\">\n<p><strong>How much does pet vaccination cost?<\/strong><\/p>\n<\/summary>\n<div class=\"wp-block-themeisle-blocks-accordion-item__content\">\n<p>The average cost for vaccinating a dog is between <strong>$75<\/strong> and <strong>$100<\/strong>, while for cats the cost is around <strong>$65<\/strong> and <strong>$110<\/strong>.<\/p>\n<\/div>\n<\/details>\n<details class=\"wp-block-themeisle-blocks-accordion-item\">\n<summary class=\"wp-block-themeisle-blocks-accordion-item__title\">\n<p><strong>How much does pet boarding cost?<\/strong><\/p>\n<\/summary>\n<div class=\"wp-block-themeisle-blocks-accordion-item__content\">\n<p>Pet boarding costs amount to <strong>$228<\/strong> a year for dogs and <strong>$78<\/strong> a year for cats.<\/p>\n<\/div>\n<\/details>\n<details class=\"wp-block-themeisle-blocks-accordion-item\">\n<summary class=\"wp-block-themeisle-blocks-accordion-item__title\">\n<p><strong>How much does pet teeth cleaning cost?<\/strong><\/p>\n<\/summary>\n<div class=\"wp-block-themeisle-blocks-accordion-item__content\">\n<p>The average cost of cleaning your dogs\u2019 teeth is between <strong>$300<\/strong> and <strong>$700<\/strong> for a basic cleaning routine.You\u2019ll spend around <strong>$50<\/strong> to<strong> $300<\/strong> for your cat.<\/p>\n<\/div>\n<\/details>\n<details class=\"wp-block-themeisle-blocks-accordion-item\">\n<summary class=\"wp-block-themeisle-blocks-accordion-item__title\">\n<p><strong>How much does pet spaying cost?<\/strong><\/p>\n<\/summary>\n<div class=\"wp-block-themeisle-blocks-accordion-item__content\">\n<p>Costs of spaying a dog usually run between <strong>$100<\/strong> and <strong>$600<\/strong> depending on various factors, while costs for spaying a cat typically run from <strong>$50<\/strong> to <strong>$500<\/strong>.<\/p>\n<\/div>\n<\/details>\n<details class=\"wp-block-themeisle-blocks-accordion-item\">\n<summary class=\"wp-block-themeisle-blocks-accordion-item__title\">\n<p><strong>What are the one-time costs of owning a pet?<\/strong><\/p>\n<\/summary>\n<div class=\"wp-block-themeisle-blocks-accordion-item__content\">\n<p>One-time costs of owning a pet usually include a crate, carrier bag, spay, leash, pads, litter box (for cats), training classes (for dogs), and toys. The first year of owning a pet is usually the most expensive one.<\/p>\n<\/div>\n<\/details>\n<details class=\"wp-block-themeisle-blocks-accordion-item\">\n<summary class=\"wp-block-themeisle-blocks-accordion-item__title\">\n<p><strong>How much does pet grooming cost?<\/strong><\/p>\n<\/summary>\n<div class=\"wp-block-themeisle-blocks-accordion-item__content\">\n<p>Pet grooming can cost between <strong>$30<\/strong> and <strong>$99<\/strong> for dogs and around <strong>$18<\/strong> to <strong>$70<\/strong> for cats. Keep in mind that the price can vary widely based on what the grooming session includes.<\/p>\n<\/div>\n<\/details>\n<\/div>\n<\/div>\n<\/div>\n<aside class=\"article-feedback\">\n<div class=\"article-feedback-voting\">\n<p>Was this article helpful?<\/p>\n<p>\t\t\t<a href=\"#cb1608b521\" class=\"article-feedback-button article-feedback-no\" id=\"feedback-no\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" id=\"feedback-no\" xml:space=\"preserve\" width=\"25px\" height=\"34px\" viewbox=\"0 0 232 316\"><path fill=\"#393939\" d=\"M11 103l0 110c0,3 1,4 4,4l37 0c3,0 4,-1 4,-4l0 -110c0,-3 -2,-4 -5,-4l-33 0c-3,0 -5,1 -5,4zm121 121c0,-8 15,-6 20,-6l52 0c5,0 8,1 12,-1 7,-5 7,-15 0,-19 -4,-3 -20,-2 -26,-2 -3,0 -9,0 -8,-5 0,-5 4,-6 8,-6 6,0 21,1 26,-2 7,-4 7,-15 1,-19 -9,-6 -34,4 -34,-7 0,-8 11,-6 21,-6 5,0 9,1 13,-2 7,-4 7,-15 1,-19 -7,-5 -29,1 -33,-4 -2,-2 -2,-7 1,-8 5,-4 15,1 21,-4 7,-6 4,-20 -9,-20l-71 0c-12,0 -24,3 -33,5 -10,3 -18,7 -26,12l0 93c2,1 4,2 6,4 4,3 12,10 15,14 14,17 19,29 24,52 1,7 4,30 9,30 4,0 8,-1 11,-3 2,-1 5,-5 6,-6 13,-19 3,-39 -2,-59l-3 -12zm-67 -6c-1,6 -8,11 -14,11l-37 0c-8,0 -15,-7 -15,-15l0 -110c0,-4 2,-8 4,-11 2,-2 6,-5 10,-5l39 0c6,0 12,6 13,11l12 -5c12,-5 29,-10 43,-10l79 0c5,0 11,3 14,6 8,8 9,19 3,28 12,3 20,18 14,32 -2,4 -4,5 -5,7 7,5 10,17 5,27 -2,3 -3,5 -5,7 9,6 11,25 -2,35 -7,5 -12,4 -23,4 -18,0 -37,0 -55,0l5 21c2,8 4,13 4,23 0,15 -8,32 -19,38 -31,17 -31,-16 -35,-32 -2,-9 -5,-22 -9,-30 -5,-11 -11,-20 -21,-27 -2,-1 -3,-4 -6,-4z\"\/><path fill=\"#393939\" d=\"M29 193c0,-2 3,-5 5,-5 6,0 8,6 5,9 -3,4 -10,2 -10,-4z\"\/><rect fill=\"none\" width=\"232\" height=\"316\"\/><\/svg>No<\/a>\n\t\t<\/div>\n<div class=\"article-feedback-response\">\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"18\" height=\"18\" viewbox=\"0 0 117.72 117.72\" fill=\"none\"><path class=\"st0\" d=\"M58.86,0c9.13,0,17.77,2.08,25.49,5.79c-3.16,2.5-6.09,4.9-8.82,7.21c-5.2-1.89-10.81-2.92-16.66-2.92 c-13.47,0-25.67,5.46-34.49,14.29c-8.83,8.83-14.29,21.02-14.29,34.49c0,13.47,5.46,25.66,14.29,34.49 c8.83,8.83,21.02,14.29,34.49,14.29s25.67-5.46,34.49-14.29c8.83-8.83,14.29-21.02,14.29-34.49c0-3.2-0.31-6.34-0.9-9.37 c2.53-3.3,5.12-6.59,7.77-9.85c2.08,6.02,3.21,12.49,3.21,19.22c0,16.25-6.59,30.97-17.24,41.62 c-10.65,10.65-25.37,17.24-41.62,17.24c-16.25,0-30.97-6.59-41.62-17.24C6.59,89.83,0,75.11,0,58.86 c0-16.25,6.59-30.97,17.24-41.62S42.61,0,58.86,0L58.86,0z M31.44,49.19L45.8,49l1.07,0.28c2.9,1.67,5.63,3.58,8.18,5.74 c1.84,1.56,3.6,3.26,5.27,5.1c5.15-8.29,10.64-15.9,16.44-22.9c6.35-7.67,13.09-14.63,20.17-20.98l1.4-0.54H114l-3.16,3.51 C101.13,30,92.32,41.15,84.36,52.65C76.4,64.16,69.28,76.04,62.95,88.27l-1.97,3.8l-1.81-3.87c-3.34-7.17-7.34-13.75-12.11-19.63 c-4.77-5.88-10.32-11.1-16.79-15.54L31.44,49.19L31.44,49.19z\" fill=\"#01A601\"\/><\/svg>Thanks for your feedback!\n\t\t<\/div>\n<\/aside>\n<\/article>\n<div class=\"container\">\n<div class=\"article-info\">\n<div class=\"below-single \">\n<div class=\"author-details\">\n\t\t\t<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/mlsjoxwh2dv5.i.optimole.com\/cb:fJ2b~7176\/w:60\/h:60\/q:90\/f:best\/https:\/\/finmasters.com\/wp-content\/uploads\/2022\/06\/Ana-Ciochia.jpg\" width=\"60\" height=\"60\" alt=\"Ana-Ioana Ciochia\"\/><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/mlsjoxwh2dv5.i.optimole.com\/cb:fJ2b~7176\/w:60\/h:60\/q:90\/f:best\/https:\/\/finmasters.com\/wp-content\/uploads\/2022\/06\/Ana-Ciochia.jpg\" width=\"60\" height=\"60\" alt=\"Ana-Ioana Ciochia\"\/>\t\t\t<\/p>\n<div class=\"author-description\">\n<p itemprop=\"description\">Ana-Ioana Ciochia is a fact checker, researcher and writer for FinMasters. She holds a Bachelor’s degree in Chinese and English and is working on her Master’s degree in International Management and Marketing. 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By Ana-Ioana Ciochia Ana-Ioana Ciochia is a fact checker, researcher and writer for FinMasters. She holds a Bachelor’s degree in Chinese and English and is working on her Master’s degree in International Management and Marketing. 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\n\tHow Much Do Americans Spend On Pets?<\/title><link rel=\"preload\" data-rocket-preload=\"\" as=\"font\" href=\"https:\/\/finmasters.com\/wp-content\/plugins\/wpdiscuz\/assets\/third-party\/font-awesome-5.13.0\/webfonts\/fa-regular-400.woff2\" crossorigin=\"\"\/><link rel=\"preload\" data-rocket-preload=\"\" as=\"font\" href=\"https:\/\/finmasters.com\/wp-content\/plugins\/wpdiscuz\/assets\/third-party\/font-awesome-5.13.0\/webfonts\/fa-solid-900.woff2\" crossorigin=\"\"\/><link rel=\"preload\" data-rocket-preload=\"\" as=\"font\" href=\"https:\/\/finmasters.com\/wp-content\/themes\/finmasters\/fonts\/Lora-Medium.woff2\" crossorigin=\"\"\/><link rel=\"preload\" data-rocket-preload=\"\" as=\"font\" href=\"https:\/\/finmasters.com\/wp-content\/themes\/finmasters\/fonts\/lexend-deca-v16-latin-300.woff2\" crossorigin=\"\"\/><link rel=\"preload\" data-rocket-preload=\"\" as=\"font\" href=\"https:\/\/finmasters.com\/wp-content\/themes\/finmasters\/fonts\/lexend-deca-v16-latin-700.woff2\" crossorigin=\"\"\/>\n\t<meta name=\"description\" content=\"We take a look into pet spending statistics to see just how much money Americans spend on their pets each year.\"\/>\n\t<link rel=\"canonical\" href=\"https:\/\/finmasters.com\/pet-spending-statistics\/\"\/>\n\t<meta property=\"og:locale\" content=\"en_US\"\/><br \/>\n\t<meta property=\"og:type\" content=\"article\"\/><br \/>\n\t<meta property=\"og:title\" content=\"How Much Do Americans Spend On Pets?\"\/><br \/>\n\t<meta property=\"og:description\" content=\"We take a look into pet spending statistics to see just how much money Americans spend on their pets each year.\"\/><br \/>\n\t<meta property=\"og:url\" content=\"https:\/\/finmasters.com\/pet-spending-statistics\/\"\/><br \/>\n\t<meta property=\"og:site_name\" content=\"FinMasters\"\/><br \/>\n\t<meta property=\"article:published_time\" content=\"2022-06-17T10:00:45+00:00\"\/><br \/>\n\t<meta property=\"article:modified_time\" content=\"2025-02-06T11:19:19+00:00\"\/><br \/>\n\t<meta property=\"og:image\" content=\"https:\/\/mlsjoxwh2dv5.i.optimole.com\/cb:fJ2b~7176\/w:auto\/h:auto\/q:90\/f:best\/https:\/\/finmasters.com\/wp-content\/uploads\/2022\/06\/Pet-Spending-Statistics-1.jpg\"\/><br \/>\n\t<meta property=\"og:image:width\" content=\"2180\"\/><br \/>\n\t<meta property=\"og:image:height\" content=\"1090\"\/><br \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\"\/><br \/>\n\t<meta name=\"author\" content=\"Ana-Ioana Ciochia\"\/><br \/>\n\t<meta name=\"twitter:card\" content=\"summary_large_image\"\/><br \/>\n\t<meta name=\"twitter:label1\" content=\"Written by\"\/><br \/>\n\t<meta name=\"twitter:data1\" content=\"Ana-Ioana Ciochia\"\/><br \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\"\/><br \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\"\/><\/p>\n<p>\t<\/p>\n<link rel=\"dns-prefetch\" href=\"https:\/\/mlsjoxwh2dv5.i.optimole.com\"\/>\n<link rel=\"preconnect\" href=\"https:\/\/mlsjoxwh2dv5.i.optimole.com\"\/>\n<link rel=\"alternate\" type=\"application\/rss+xml\" title=\"FinMasters \u00bb Feed\" href=\"https:\/\/finmasters.com\/feed\/\"\/>\n<link rel=\"alternate\" type=\"application\/rss+xml\" title=\"FinMasters \u00bb Comments Feed\" href=\"https:\/\/finmasters.com\/comments\/feed\/\"\/>\n<link rel=\"alternate\" type=\"application\/rss+xml\" title=\"FinMasters \u00bb How Much Do Americans Spend On Pets? 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preserveaspectratio=\"none\">\n\t\t\t\t\t\t\t<path fill=\"#393939\" d=\"M12.71,7.291c-0.15-0.15-0.393-0.15-0.542,0L10,9.458L7.833,7.291c-0.15-0.15-0.392-0.15-0.542,0c-0.149,0.149-0.149,0.392,0,0.541L9.458,10l-2.168,2.167c-0.149,0.15-0.149,0.393,0,0.542c0.15,0.149,0.392,0.149,0.542,0L10,10.542l2.168,2.167c0.149,0.149,0.392,0.149,0.542,0c0.148-0.149,0.148-0.392,0-0.542L10.542,10l2.168-2.168C12.858,7.683,12.858,7.44,12.71,7.291z M10,1.188c-4.867,0-8.812,3.946-8.812,8.812c0,4.867,3.945,8.812,8.812,8.812s8.812-3.945,8.812-8.812C18.812,5.133,14.867,1.188,10,1.188z M10,18.046c-4.444,0-8.046-3.603-8.046-8.046c0-4.444,3.603-8.046,8.046-8.046c4.443,0,8.046,3.602,8.046,8.046C18.046,14.443,14.443,18.046,10,18.046z\"\/>\n\t\t\t\t\t\t\t<\/svg><\/p>\n<div class=\"person-info\">\n\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/mlsjoxwh2dv5.i.optimole.com\/cb:fJ2b~7176\/w:60\/h:60\/q:90\/f:best\/https:\/\/finmasters.com\/wp-content\/uploads\/2022\/06\/Ana-Ciochia.jpg\" width=\"60\" height=\"60\" alt=\"Ana-Ioana Ciochia\"\/><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/mlsjoxwh2dv5.i.optimole.com\/cb:fJ2b~7176\/w:60\/h:60\/q:90\/f:best\/https:\/\/finmasters.com\/wp-content\/uploads\/2022\/06\/Ana-Ciochia.jpg\" width=\"60\" height=\"60\" alt=\"Ana-Ioana Ciochia\"\/>\n\t\t\t\t\t\t\t<\/div>\n<p class=\"author-description\">Ana-Ioana Ciochia is a fact checker, researcher and writer for FinMasters. She holds a Bachelor’s degree in Chinese and English and is working on her Master’s degree in International Management and Marketing.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<p> \t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t<\/div>\n<p>\t\t\t\t<span class=\"posted-on\"><br \/>\n\t\t\t\t\tUpdated on <time class=\"updated\" itemprop=\"dateModified\" date=\"2024-01-11\">Jan 11, 2024<\/time><br \/>\n\t\t\t\t<\/span>\t<\/p>\n<div class=\"posted-by posted-by-editor\">\n\t\t\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"13\" height=\"13\" viewbox=\"0 0 117.72 117.72\" fill=\"none\">\n\t\t\t\t\t\t<path class=\"st0\" d=\"M58.86,0c9.13,0,17.77,2.08,25.49,5.79c-3.16,2.5-6.09,4.9-8.82,7.21c-5.2-1.89-10.81-2.92-16.66-2.92 c-13.47,0-25.67,5.46-34.49,14.29c-8.83,8.83-14.29,21.02-14.29,34.49c0,13.47,5.46,25.66,14.29,34.49 c8.83,8.83,21.02,14.29,34.49,14.29s25.67-5.46,34.49-14.29c8.83-8.83,14.29-21.02,14.29-34.49c0-3.2-0.31-6.34-0.9-9.37 c2.53-3.3,5.12-6.59,7.77-9.85c2.08,6.02,3.21,12.49,3.21,19.22c0,16.25-6.59,30.97-17.24,41.62 c-10.65,10.65-25.37,17.24-41.62,17.24c-16.25,0-30.97-6.59-41.62-17.24C6.59,89.83,0,75.11,0,58.86 c0-16.25,6.59-30.97,17.24-41.62S42.61,0,58.86,0L58.86,0z M31.44,49.19L45.8,49l1.07,0.28c2.9,1.67,5.63,3.58,8.18,5.74 c1.84,1.56,3.6,3.26,5.27,5.1c5.15-8.29,10.64-15.9,16.44-22.9c6.35-7.67,13.09-14.63,20.17-20.98l1.4-0.54H114l-3.16,3.51 C101.13,30,92.32,41.15,84.36,52.65C76.4,64.16,69.28,76.04,62.95,88.27l-1.97,3.8l-1.81-3.87c-3.34-7.17-7.34-13.75-12.11-19.63 c-4.77-5.88-10.32-11.1-16.79-15.54L31.44,49.19L31.44,49.19z\" fill=\"#01A601\"\/>\n\t\t\t\t\t<\/svg><br \/>\n\t\t\t\t\tReviewed by <span><span class=\"label posted-by-name\">Steve Rogers<\/span><\/p>\n<div class=\"post-details-pop editorpop\">\n\t\t\t\t\t\t<span class=\"post-details-pop-arrow\"\/><\/p>\n<div class=\"post-details-pop-body\">\n\t\t\t\t\t\t\t<svg class=\"svg-icon post-details-pop-close\" viewbox=\"0 0 20 20\" height=\"25\" width=\"25\" preserveaspectratio=\"none\">\n\t\t\t\t\t\t\t<path fill=\"#393939\" d=\"M12.71,7.291c-0.15-0.15-0.393-0.15-0.542,0L10,9.458L7.833,7.291c-0.15-0.15-0.392-0.15-0.542,0c-0.149,0.149-0.149,0.392,0,0.541L9.458,10l-2.168,2.167c-0.149,0.15-0.149,0.393,0,0.542c0.15,0.149,0.392,0.149,0.542,0L10,10.542l2.168,2.167c0.149,0.149,0.392,0.149,0.542,0c0.148-0.149,0.148-0.392,0-0.542L10.542,10l2.168-2.168C12.858,7.683,12.858,7.44,12.71,7.291z M10,1.188c-4.867,0-8.812,3.946-8.812,8.812c0,4.867,3.945,8.812,8.812,8.812s8.812-3.945,8.812-8.812C18.812,5.133,14.867,1.188,10,1.188z M10,18.046c-4.444,0-8.046-3.603-8.046-8.046c0-4.444,3.603-8.046,8.046-8.046c4.443,0,8.046,3.602,8.046,8.046C18.046,14.443,14.443,18.046,10,18.046z\"\/>\n\t\t\t\t\t\t\t<\/svg><\/p>\n<div class=\"person-info\">\n\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/mlsjoxwh2dv5.i.optimole.com\/cb:fJ2b~7176\/w:60\/h:60\/q:90\/f:best\/https:\/\/finmasters.com\/wp-content\/uploads\/2021\/08\/head-shot-.jpg\" width=\"60\" height=\"60\" alt=\"Steve Rogers\"\/><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/mlsjoxwh2dv5.i.optimole.com\/cb:fJ2b~7176\/w:60\/h:60\/q:90\/f:best\/https:\/\/finmasters.com\/wp-content\/uploads\/2021\/08\/head-shot-.jpg\" width=\"60\" height=\"60\" alt=\"Steve Rogers\"\/>\n\t\t\t\t\t\t\t<\/div>\n<p class=\"author-description\">Steve Rogers has been a professional writer and editor for over 30 years, specializing in personal finance, investment, and the impact of political trends on financial markets and personal finances.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<p>\t\t\t\t\t<\/span>\n\t\t\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div id=\"content\">\n<div class=\"content-wrapper\">\n\t\t\t\t<main id=\"main\" role=\"main\"><\/p>\n<article id=\"post-47419\" class=\"post-47419 post type-post status-publish format-standard has-post-thumbnail hentry category-statistics tag-featured\">\n<div class=\"wp-block-group item1200 is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-group__inner-container\">\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-layout-1 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<p>How much money do Americans spend on their furry friends each year? We crunched the numbers, and here\u2019s what we found.<\/p>\n<p>The American love of pets is legendary, so it won\u2019t come as a surprise to anybody that Americans spend more on their pets than the citizens of any other country in the world. The numbers also suggest a warning: pet ownership comes with great responsibility and can involve a considerable financial cost. <\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"wp-block-group item700 has-light-gray-color has-fm-dark-blue-background-color has-text-color has-background is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-group__inner-container\">\n<h2 class=\"wp-block-heading\" id=\"key-findings\">Key Findings<\/h2>\n<ul>\n<li><strong>1 out of 2<\/strong> U.S. households own a pet.<\/li>\n<li><strong>$136.8 billion<\/strong> was spent on our furry friends in the U.S. \u2013 the equivalent of 171,214 houses in New York City.<\/li>\n<li>An average U.S. pet owner will spend <strong>$912<\/strong> a year on their dog and <strong>$653<\/strong> on their cat.<\/li>\n<li>Both cat and dog owners spend most on <strong>vet visits, food and OTC medicine<\/strong>.<\/li>\n<li>Highly educated people aged <strong>55-64<\/strong> with an income of <strong>$200,000 or more<\/strong> spend most on their four-legged friends.<\/li>\n<li><strong>More and more people insure their pets<\/strong>. The number of insured pets in 2022 was 21.7% higher than in 2021.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<div class=\"wp-block-group item700 is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-group__inner-container\">\n<h2 class=\"wp-block-heading\" id=\"how-many-pets-are-there-in-the-us\">How Many Pets Are There in the U.S.?<\/h2>\n<p class=\"has-text-align-left\">Studies show that <strong>1 out of 2<\/strong> U.S. households own a pet, which equates to<strong>\u00a086.9 million homes<\/strong>.<sup>[1]<\/sup><\/p>\n<p>It\u2019s not surprising that dogs outnumber all other species by far. Also not surprising is that the second most kept pet is a cat. It might come as a surprise that <strong>6.0 million<\/strong> U.S. households own a reptile. In fact, there\u2019s <strong>one<\/strong> <strong>reptile<\/strong> for every <strong>11 dogs<\/strong>. <sup>[1]<\/sup><\/p>\n<\/div>\n<\/div>\n<div class=\"wp-block-group item900 has-light-gray-background-color has-background is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-group__inner-container\">\n<div class=\"wp-block-group item900 ticss-a9dd8462 is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-group__inner-container\">\n<h2 class=\"wp-block-heading has-text-align-center\" id=\"how-much-do-americans-spend-on-their-pets\">How Much Do Americans Spend On Their Pets?<\/h2>\n<p class=\"has-text-align-center\">In total, Americans spent <strong>$136.8 billion<\/strong> on pet products and services in 2022. This is equal to buying <strong>2,824,247<\/strong> new cars. The average dog owner spent <strong>$912<\/strong> and the average cat owner spent <strong>$653<\/strong>.<sup>[1]<\/sup><\/p>\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-layout-2 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<h3 class=\"wp-block-heading hnm\">Total Pet Spending<\/h3>\n<p>As mentioned above, Americans spent\u00a0<strong>136.8 billion<\/strong> in total on pets in 2022.<\/p>\n<p>This represents a <strong>10%<\/strong> increase in spending on pets compared to 2021 and a whopping <strong>50%<\/strong> increase compared to 2018.<sup>[1]<\/sup><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<h3 class=\"wp-block-heading has-text-align-center hnm\">Pet Spending by Products & Services<\/h3>\n<p class=\"has-text-align-left\">Data from AVMA shows that, unsurprisingly, the costliest items of owning both a cat and a dog are vet visits and pet food. The third most expensive item is grooming for dogs and toys for cats, as cats require much less grooming than dogs. A dog owner spends, on average, <strong>$99<\/strong> a year on <strong>grooming<\/strong>, while cat owners only spend <strong>$18<\/strong>.<sup>[4]<\/sup><\/p>\n<\/div>\n<\/div>\n<div class=\"wp-block-group item1200 has-light-yellow-background-color has-background is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-group__inner-container\">\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-layout-3 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-vertically-aligned-top item900 is-layout-flow wp-block-column-is-layout-flow\">\n<h3 class=\"wp-block-heading has-text-align-left\">Cost Of Owning A Dog Vs Cat<\/h3>\n<p class=\"has-text-align-left\">U.S. pet owners reportedly spend on average<strong> $912<\/strong> every single year on their dogs and <strong>$653<\/strong> a year on their cats.<sup>[4]<\/sup> On average, this comes out at around <strong>$76\/month per dog<\/strong> and <strong>$54\/month per cat<\/strong>.<\/p>\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full is-resized\"><img src=\"https:\/\/mlsjoxwh2dv5.i.optimole.com\/cb:fJ2b~7176\/w:400\/h:200\/q:90\/f:best\/https:\/\/finmasters.com\/wp-content\/uploads\/2024\/01\/Average-Annual-Spending-Pets-3.png\" fetchpriority=\"high\" decoding=\"async\" width=\"400\" height=\"200\" alt=\"Annual cost of owning a dog vs. a cat\" class=\"wp-image-228969\" style=\"width:376px;height:auto\"\/><img fetchpriority=\"high\" decoding=\"async\" width=\"400\" height=\"200\" src=\"https:\/\/mlsjoxwh2dv5.i.optimole.com\/cb:fJ2b~7176\/w:400\/h:200\/q:90\/f:best\/https:\/\/finmasters.com\/wp-content\/uploads\/2024\/01\/Average-Annual-Spending-Pets-3.png\" alt=\"Annual cost of owning a dog vs. a cat\" class=\"wp-image-228969\" style=\"width:376px;height:auto\" srcset=\"https:\/\/mlsjoxwh2dv5.i.optimole.com\/cb:fJ2b~7176\/w:400\/h:200\/q:90\/f:best\/https:\/\/finmasters.com\/wp-content\/uploads\/2024\/01\/Average-Annual-Spending-Pets-3.png 400w, https:\/\/mlsjoxwh2dv5.i.optimole.com\/cb:fJ2b~7176\/w:300\/h:150\/q:90\/f:best\/https:\/\/finmasters.com\/wp-content\/uploads\/2024\/01\/Average-Annual-Spending-Pets-3.png 300w, https:\/\/mlsjoxwh2dv5.i.optimole.com\/cb:fJ2b~7176\/w:296\/h:148\/q:90\/f:best\/https:\/\/finmasters.com\/wp-content\/uploads\/2024\/01\/Average-Annual-Spending-Pets-3.png 296w, https:\/\/mlsjoxwh2dv5.i.optimole.com\/cb:fJ2b~7176\/w:390\/h:195\/q:90\/f:best\/https:\/\/finmasters.com\/wp-content\/uploads\/2024\/01\/Average-Annual-Spending-Pets-3.png 390w, https:\/\/mlsjoxwh2dv5.i.optimole.com\/cb:fJ2b~7176\/w:270\/h:135\/q:90\/f:best\/https:\/\/finmasters.com\/wp-content\/uploads\/2024\/01\/Average-Annual-Spending-Pets-3.png 270w\" sizes=\"(max-width: 400px) 100vw, 400px\"\/><\/figure>\n<\/div>\n<p class=\"has-text-align-left\">The total amount includes items and services ranging from food and treats to vet visits and grooming.<\/p>\n<\/div>\n<div class=\"wp-block-column is-vertically-aligned-top is-layout-flow wp-block-column-is-layout-flow\">\n<h3 class=\"wp-block-heading\">Money Spent On Gifts For Pets<\/h3>\n<p>When it comes to toys and treats, dog owners spend <strong>$79<\/strong> a year on gifts for their four-legged friends, while cat owners spend <strong>$50<\/strong> a year on their cat companions.<sup>[4]<\/sup><\/p>\n<div class=\"wp-block-image is-resized\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" src=\"https:\/\/mlsjoxwh2dv5.i.optimole.com\/cb:fJ2b~7176\/w:400\/h:200\/q:90\/f:best\/https:\/\/finmasters.com\/wp-content\/uploads\/2024\/01\/Untitled-design-6.png\" decoding=\"async\" width=\"400\" height=\"200\" alt=\"Gifts for pets image\" class=\"wp-image-228971\"\/><img loading=\"lazy\" decoding=\"async\" width=\"400\" height=\"200\" src=\"https:\/\/mlsjoxwh2dv5.i.optimole.com\/cb:fJ2b~7176\/w:400\/h:200\/q:90\/f:best\/https:\/\/finmasters.com\/wp-content\/uploads\/2024\/01\/Untitled-design-6.png\" alt=\"Gifts for pets image\" class=\"wp-image-228971\" srcset=\"https:\/\/mlsjoxwh2dv5.i.optimole.com\/cb:fJ2b~7176\/w:400\/h:200\/q:90\/f:best\/https:\/\/finmasters.com\/wp-content\/uploads\/2024\/01\/Untitled-design-6.png 400w, https:\/\/mlsjoxwh2dv5.i.optimole.com\/cb:fJ2b~7176\/w:300\/h:150\/q:90\/f:best\/https:\/\/finmasters.com\/wp-content\/uploads\/2024\/01\/Untitled-design-6.png 300w, https:\/\/mlsjoxwh2dv5.i.optimole.com\/cb:fJ2b~7176\/w:296\/h:148\/q:90\/f:best\/https:\/\/finmasters.com\/wp-content\/uploads\/2024\/01\/Untitled-design-6.png 296w, https:\/\/mlsjoxwh2dv5.i.optimole.com\/cb:fJ2b~7176\/w:390\/h:195\/q:90\/f:best\/https:\/\/finmasters.com\/wp-content\/uploads\/2024\/01\/Untitled-design-6.png 390w, https:\/\/mlsjoxwh2dv5.i.optimole.com\/cb:fJ2b~7176\/w:270\/h:135\/q:90\/f:best\/https:\/\/finmasters.com\/wp-content\/uploads\/2024\/01\/Untitled-design-6.png 270w\" sizes=\"auto, (max-width: 400px) 100vw, 400px\"\/><\/figure>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"wp-block-group item900 is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-group__inner-container\">\n<h2 class=\"wp-block-heading has-text-align-center\" id=\"who-spends-most-on-their-pets\">Who Spends Most on Their Pets?<\/h2>\n<p class=\"has-text-align-center\">Next, let\u2019s take a look at pet spending by demographics. We\u2019ll look at differences in pet spending by income, age and education level.<\/p>\n<h3 class=\"wp-block-heading has-text-align-center hnm\">Pet Spending by Income<\/h3>\n<div class=\"wp-block-columns item900 is-layout-flex wp-container-core-columns-layout-4 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:50%\">\n<p>Pet spending statistics show that pet owners of almost all income levels spend roughly <strong>1% of their annual earnings on their pets<\/strong>.<\/p>\n<p class=\"has-text-align-left\">The 2022 Consumer Expenditure Survey data shows that pet owners in the <strong>$200,000 or more income bracket<\/strong> spend the most on their pets \u2013 $1,455 annually.<\/p>\n<p class=\"has-text-align-left\">People earning less than <strong>$15,000\/year<\/strong> still spend <strong>$365<\/strong> a year on their pets.<sup>[2]<\/sup><\/p>\n<\/div>\n<\/div>\n<div class=\"wp-block-columns item900 is-layout-flex wp-container-core-columns-layout-5 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<h3 class=\"wp-block-heading hnm\">Pet Spending by Age<\/h3>\n<p>Pet spending statistics show that people aged <strong>55-64<\/strong> spend the most money on their pets: <strong>$900\/year<\/strong>.<sup>[2]<\/sup><\/p>\n<p>Pet owners aged <strong>75+<\/strong> spend the least of all age groups: <strong>$351\/year<\/strong>. <\/p>\n<p>Low pet spending in the\n<\/p>\n<\/div>\n<\/div>\n<h3 class=\"wp-block-heading has-text-align-center hnm\">Pet Spending By Educational Level<\/h3>\n<div class=\"wp-block-columns are-vertically-aligned-top is-layout-flex wp-container-core-columns-layout-6 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-vertically-aligned-top is-layout-flow wp-block-column-is-layout-flow\">\n<p>Pet spending statistics show (with one exception) that the more educated pet owners spend more money on products & services for their pets. This correlates to the spending by income level we\u2019ve seen above since people with higher education are more likely to earn more.<\/p>\n<p>The one exception seems to be pet owners who did not graduate high school. They spend on average <strong>$564\/year<\/strong> on their pets.<sup>[2]<\/sup><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"wp-block-group item900 has-light-gray-background-color has-background is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-group__inner-container\">\n<h2 class=\"wp-block-heading has-text-align-center hnm\" id=\"how-many-pets-are-insured\">How Many Pets Are Insured?<\/h2>\n<div class=\"wp-block-columns are-vertically-aligned-top is-layout-flex wp-container-core-columns-layout-7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-vertically-aligned-top is-layout-flow wp-block-column-is-layout-flow\">\n<p>Over the course of 2022, the number of insured pets in the United States increased by <strong>22.1%<\/strong>. <\/p>\n<p>Dogs represent <strong>80.1%<\/strong> of the insured pets, while cats account for only <strong>19.9%<\/strong>. <\/p>\n<p>The reason behind the small number of insured cats could be due to the fact that cats mostly stay indoors and they rarely travel with their owners.<sup>[3]<\/sup><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"wp-block-group item700 is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-group__inner-container\">\n<h2 class=\"wp-block-heading\" id=\"FAQs\">Pet Spending FAQs<\/h2>\n<div id=\"wp-block-themeisle-blocks-accordion-52568bae\" data-has-schema=\"true\" class=\"wp-block-themeisle-blocks-accordion exclusive\">\n<details open=\"\" class=\"wp-block-themeisle-blocks-accordion-item\">\n<summary class=\"wp-block-themeisle-blocks-accordion-item__title\">\n<p><strong>How much do Americans spend on pets?<\/strong><\/p>\n<\/summary>\n<div class=\"wp-block-themeisle-blocks-accordion-item__content\">\n<p>Studies show that Americans spend a total of $136.8 billion on pet products and services. This is the equivalent of buying <strong>2,824,247<\/strong> new cars.<\/p>\n<\/div>\n<\/details>\n<details class=\"wp-block-themeisle-blocks-accordion-item\">\n<summary class=\"wp-block-themeisle-blocks-accordion-item__title\">\n<p><strong>How much do pets cost per month?<\/strong><\/p>\n<\/summary>\n<div class=\"wp-block-themeisle-blocks-accordion-item__content\">\n<p>Average dog owners spend <strong>$76 <\/strong>a month on their dogs and average cat owners spend <strong>$54<\/strong> a month on their cats.<\/p>\n<\/div>\n<\/details>\n<details class=\"wp-block-themeisle-blocks-accordion-item\">\n<summary class=\"wp-block-themeisle-blocks-accordion-item__title\">\n<p><strong>How much does pet insurance cost?<\/strong><\/p>\n<\/summary>\n<div class=\"wp-block-themeisle-blocks-accordion-item__content\">\n<p>The average price that a pet owner has to pay for pet insurance (accident & illness) amounts to <strong>$640<\/strong> a year for dogs and <strong>$387<\/strong>\/year for cats.<\/p>\n<\/div>\n<\/details>\n<details class=\"wp-block-themeisle-blocks-accordion-item\">\n<summary class=\"wp-block-themeisle-blocks-accordion-item__title\">\n<p><strong>How much does pet microchipping cost?<\/strong><\/p>\n<\/summary>\n<div class=\"wp-block-themeisle-blocks-accordion-item__content\">\n<p>The average price of microchipping a pet ranges between <strong>$50<\/strong> and <strong>$70<\/strong> for both cats and dogs. <\/p>\n<\/div>\n<\/details>\n<details class=\"wp-block-themeisle-blocks-accordion-item\">\n<summary class=\"wp-block-themeisle-blocks-accordion-item__title\">\n<p><strong>How much does pet vaccination cost?<\/strong><\/p>\n<\/summary>\n<div class=\"wp-block-themeisle-blocks-accordion-item__content\">\n<p>The average cost for vaccinating a dog is between <strong>$75<\/strong> and <strong>$100<\/strong>, while for cats the cost is around <strong>$65<\/strong> and <strong>$110<\/strong>.<\/p>\n<\/div>\n<\/details>\n<details class=\"wp-block-themeisle-blocks-accordion-item\">\n<summary class=\"wp-block-themeisle-blocks-accordion-item__title\">\n<p><strong>How much does pet boarding cost?<\/strong><\/p>\n<\/summary>\n<div class=\"wp-block-themeisle-blocks-accordion-item__content\">\n<p>Pet boarding costs amount to <strong>$228<\/strong> a year for dogs and <strong>$78<\/strong> a year for cats.<\/p>\n<\/div>\n<\/details>\n<details class=\"wp-block-themeisle-blocks-accordion-item\">\n<summary class=\"wp-block-themeisle-blocks-accordion-item__title\">\n<p><strong>How much does pet teeth cleaning cost?<\/strong><\/p>\n<\/summary>\n<div class=\"wp-block-themeisle-blocks-accordion-item__content\">\n<p>The average cost of cleaning your dogs\u2019 teeth is between <strong>$300<\/strong> and <strong>$700<\/strong> for a basic cleaning routine.You\u2019ll spend around <strong>$50<\/strong> to<strong> $300<\/strong> for your cat.<\/p>\n<\/div>\n<\/details>\n<details class=\"wp-block-themeisle-blocks-accordion-item\">\n<summary class=\"wp-block-themeisle-blocks-accordion-item__title\">\n<p><strong>How much does pet spaying cost?<\/strong><\/p>\n<\/summary>\n<div class=\"wp-block-themeisle-blocks-accordion-item__content\">\n<p>Costs of spaying a dog usually run between <strong>$100<\/strong> and <strong>$600<\/strong> depending on various factors, while costs for spaying a cat typically run from <strong>$50<\/strong> to <strong>$500<\/strong>.<\/p>\n<\/div>\n<\/details>\n<details class=\"wp-block-themeisle-blocks-accordion-item\">\n<summary class=\"wp-block-themeisle-blocks-accordion-item__title\">\n<p><strong>What are the one-time costs of owning a pet?<\/strong><\/p>\n<\/summary>\n<div class=\"wp-block-themeisle-blocks-accordion-item__content\">\n<p>One-time costs of owning a pet usually include a crate, carrier bag, spay, leash, pads, litter box (for cats), training classes (for dogs), and toys. The first year of owning a pet is usually the most expensive one.<\/p>\n<\/div>\n<\/details>\n<details class=\"wp-block-themeisle-blocks-accordion-item\">\n<summary class=\"wp-block-themeisle-blocks-accordion-item__title\">\n<p><strong>How much does pet grooming cost?<\/strong><\/p>\n<\/summary>\n<div class=\"wp-block-themeisle-blocks-accordion-item__content\">\n<p>Pet grooming can cost between <strong>$30<\/strong> and <strong>$99<\/strong> for dogs and around <strong>$18<\/strong> to <strong>$70<\/strong> for cats. 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She holds a Bachelor’s degree in Chinese and English and is working on her Master’s degree in International Management and Marketing. Ana loves reading and researching anything to do with finances, sustainability, and investments.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"post-details\">\n\t\t\t\t\t\t\t<span class=\"posted-on\"><br \/>\n \t\t\t\t\t Updated on <time class=\"updated\" itemprop=\"dateModified\" date=\"2024-01-11\">Jan 11, 2024<\/time><br \/>\n \t\t\t\t\t <\/span><br \/>\n \t\t\t\t\t\t \t\t\t\t<span class=\"posted-by posted-by-editor\"><br \/>\n \t\t\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"13\" height=\"13\" viewbox=\"0 0 117.72 117.72\" fill=\"none\">\n\t\t\t\t\t\t\t\t\t<path class=\"st0\" d=\"M58.86,0c9.13,0,17.77,2.08,25.49,5.79c-3.16,2.5-6.09,4.9-8.82,7.21c-5.2-1.89-10.81-2.92-16.66-2.92 c-13.47,0-25.67,5.46-34.49,14.29c-8.83,8.83-14.29,21.02-14.29,34.49c0,13.47,5.46,25.66,14.29,34.49 c8.83,8.83,21.02,14.29,34.49,14.29s25.67-5.46,34.49-14.29c8.83-8.83,14.29-21.02,14.29-34.49c0-3.2-0.31-6.34-0.9-9.37 c2.53-3.3,5.12-6.59,7.77-9.85c2.08,6.02,3.21,12.49,3.21,19.22c0,16.25-6.59,30.97-17.24,41.62 c-10.65,10.65-25.37,17.24-41.62,17.24c-16.25,0-30.97-6.59-41.62-17.24C6.59,89.83,0,75.11,0,58.86 c0-16.25,6.59-30.97,17.24-41.62S42.61,0,58.86,0L58.86,0z M31.44,49.19L45.8,49l1.07,0.28c2.9,1.67,5.63,3.58,8.18,5.74 c1.84,1.56,3.6,3.26,5.27,5.1c5.15-8.29,10.64-15.9,16.44-22.9c6.35-7.67,13.09-14.63,20.17-20.98l1.4-0.54H114l-3.16,3.51 C101.13,30,92.32,41.15,84.36,52.65C76.4,64.16,69.28,76.04,62.95,88.27l-1.97,3.8l-1.81-3.87c-3.34-7.17-7.34-13.75-12.11-19.63 c-4.77-5.88-10.32-11.1-16.79-15.54L31.44,49.19L31.44,49.19z\" fill=\"#01A601\"\/>\n\t\t\t\t\t\t\t\t<\/svg><br \/>\n \t\t\t\t\tReviewed by <a href=\"https:\/\/finmasters.com\/author\/steve-rogers\/\">Steve Rogers<\/a><br \/>\n \t\t\t\t<\/span>\n \t\t\t\t\t\t\t\t\t <\/div>\n<\/p><\/div>\n<p>\t\t\t\t\t <\/p><\/div>\n<p>\t\t<\/main><\/div>\n<\/p><\/div>\n<footer role=\"contentinfo\">\n<div class=\"container\">\n<div class=\"white-box\" itemscope=\"\" itemtype=\"https:\/\/schema.org\/Organization\">\n\t\t\t\t\t\t<meta itemprop=\"name\" content=\"VertiStudio\"\/>\n\t\t\t\t\t\t<link itemprop=\"url\" href=\"https:\/\/vertistudio.com\/\"\/>\n\t\t\t\t\t\t<meta itemprop=\"logo\" content=\"https:\/\/vertistudio.com\/wp-content\/uploads\/2018\/07\/VertiStudio_logo1.png\"\/><br \/>\n\t\t\t\t\t\t<meta itemprop=\"vatID\" content=\"RO29109287\"\/><br \/>\n\t\t\t\t\t\t<meta itemprop=\"email\" content=\"hi@finmasters.com\"\/><br \/>\n\t\t\t\t\t\t<meta itemprop=\"legalName\" content=\"Vertigo Studio SA\"\/><br \/>\n\t\t\t\t\t\t<meta itemprop=\"foundingDate\" content=\"2012\"\/><br \/>\n\t\t\t\t\t\t<meta itemprop=\"foundingLocation\" content=\"Bucharest\"\/><br \/>\n\t\t\t\t\t\t<meta itemprop=\"numberOfEmployees\" content=\"25\"\/><\/p>\n<div itemprop=\"brand\" itemscope=\"\" itemtype=\"https:\/\/schema.org\/Brand\">\n\t\t\t\t\t\t\t<meta itemprop=\"name\" content=\"FinMasters\"\/>\n\t\t\t\t\t\t\t<link itemprop=\"url\" href=\"https:\/\/finmasters.com\/\"\/>\n\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/mlsjoxwh2dv5.i.optimole.com\/cb:fJ2b~7176\/w:300\/h:36\/q:90\/f:best\/ig:avif\/https:\/\/finmasters.com\/wp-content\/themes\/finmasters\/img\/logo-white.svg\" class=\"optimole-lazy-only \" width=\"300\" height=\"36\" itemprop=\"logo\" alt=\"FinMasters Logo\"\/><img loading=\"lazy\" decoding=\"async\" width=\"300\" height=\"36\" itemprop=\"logo\" src=\"https:\/\/mlsjoxwh2dv5.i.optimole.com\/cb:fJ2b~7176\/w:300\/h:36\/q:90\/f:best\/ig:avif\/https:\/\/finmasters.com\/wp-content\/themes\/finmasters\/img\/logo-white.svg\" alt=\"FinMasters Logo\"\/><\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/footer>\n<div class=\"legal\">\n<p>\n\t\t\t\t\t<span>The content on finmasters.com is for educational and informational purposes only and should not be construed as professional financial advice. 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She holds a Bachelor’s degree in Chinese and English and is working on her Master’s degree in International Management and Marketing. 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