Financial Face-Off: Cats vs. dogs: Which pet makes better financial sense?

by | Apr 11, 2023 | Stock Market

Hello and welcome to Financial Face-off, a MarketWatch column where we help you weigh financial decisions. Our columnist will give her verdict. Weigh in on whether you think she’s right in the comments. And please share your suggestions for future Financial Face-off columns by emailing our columnist at [email protected] face-off If you’re not already a pet owner, headlines about pandemic pets — or perhaps your social media feed being flooded with adorable fur baby photos for National Pet Day — may have you pondering pet parenthood. Some people strongly identify as either a cat or dog person, but others feel more flexible about their animal allegiances. If you’re on the fence about Fluffy vs. Fido, pull up a chair.

Why it matters People often overlook the full financial consequences of adding a pet to their household, said Dr. Rebecca Greenstein, Veterinary Medical Advisor for Rover
a platform for booking pet care. Some 38% of new dog owners expected to pay $500 or less to bring home a dog, but the up-front costs actually ranged from $1,050 to $4,480 on average, according to a survey of pet owners by Rover. These guidelines from the American Veterinary Medical Association will give you an idea of what responsible pet ownership entails. “When we’re contemplating bringing a pet into our lives we need to make sure we are ready for the commitment, and it’s a commitment that can last into decades,” Greenstein said. Emergencies happen, and they’re even more stressful when yo …

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