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Survey reveals Australians can splash nearly $1,800 a year on their pets!
This means dog owners could end up spending more than $23,000 over their pet’s lifetime. These figures show how significant a financial commitment pet ownership can be for Australians.
Money.com.au’s Finance Expert, Sean Callery, says Australians’ spending on pets remains high, with homeowners tending to invest more than renters.
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Across generations, Gen X spend the most on their dogs, with an average of $152 per month, followed closely by Millennials at $151 per month.
Across the nation, dog owners in New South Wales are the biggest spenders, averaging $165 per month, followed by those in Western Australia at $162 and Victorians at $138 per month.
Money.com.au’s 5 tips for saving on pet costs
#1. Buy pet essentials in bulk
Buy pet essentials like food, treats, and waste bags in bulk to save money in the long run. Stock up when there are discounts at the supermarket, or sign up for a subscription service that offers bulk order discounts.
#2. Groom like a pro at home
Grooming costs can add up quickly, especially for dogs. Skip the salon and turn to online tutorials to learn some DIY grooming skills, like brushing, nail clipping, and bathing. Just make sure to use pet-safe products.
#3. Keep on top of preventive healthcare
Regular vet check-ups, vaccinations, and flea treatments can help you avoid pricey medical issues down the road. Invest in preventive care now to save money and keep your pet healthier for longer.
#4. Skip the fancy toys
Pets don’t need fancy toys to stay entertained. Consider DIY pet toys, like knotted old t-shirts or cardboard boxes, to keep them active and engaged without shelling out money.
#5. Reuse household items as pet supplies
Reuse household items as pet gear to save on supplies. Old towels make perfectly adequate pet beds, and clean plastic containers work well as food and water bowls. In a pinch, an old baking pan can even become a makeshift litter box!
About Money.com.au:
Money.com.au is an Australian financial comparison platform founded by industry experts in 2019. Its goal is to provide people and businesses with financial education and access to financial products.
* About the data: Money.com.au commissioned the survey from Pureprofile, with a nationally representative sample of 1,000 Australians by gender, age, and location. Lifetime pet costs were calculated by multiplying the annual spend by the average lifespan, based on Purina’s estimates.
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Gen Z spend an average of $150 per month, while Baby boomers have the lowest average monthly spend at $130.
Across the nation, dog owners in New South Wales are the biggest spenders, averaging $165 per month, followed by those in Western Australia at $162 and Victorians at $138 per month.
The cost of cat ownership revealed
Cat owners spend an average of $127 per month or $1,524 annually on their feline companions, the survey showed. This could add up to over $22,000 over a cat’s lifetime.
Millennials are the biggest spenders on cats across all generations, with an average monthly spend of $136, followed closely by Gen X at $135 per month. Gen Z spend an average of
$134 per month, while Baby boomers have the lowest average monthly spend at $107.
Nationally, New South Wales residents are also the biggest spenders on cats, averaging $162 per month, followed by those in Western Australia at $133 and South Australia at $111 per month.
Cat owners spend an average of $127 per month or $1,524 annually on their feline companions, the survey showed. This could add up to over $22,000 over a cat’s lifetime.
Millennials are the biggest spenders on cats across all generations, with an average monthly spend of $136, followed closely by Gen X at $135 per month. Gen Z spend an average of
$134 per month, while Baby boomers have the lowest average monthly spend at $107.
Nationally, New South Wales residents are also the biggest spenders on cats, averaging $162 per month, followed by those in Western Australia at $133 and South Australia at $111 per month.
Money.com.au’s 5 tips for saving on pet costs
#1. Buy pet essentials in bulk
Buy pet essentials like food, treats, and waste bags in bulk to save money in the long run. Stock up when there are discounts at the supermarket, or sign up for a subscription service that offers bulk order discounts.
#2. Groom like a pro at home
Grooming costs can add up quickly, especially for dogs. Skip the salon and turn to online tutorials to learn some DIY grooming skills, like brushing, nail clipping, and bathing. Just make sure to use pet-safe products.
#3. Keep on top of preventive healthcare
Regular vet check-ups, vaccinations, and flea treatments can help you avoid pricey medical issues down the road. Invest in preventive care now to save money and keep your pet healthier for longer.
#4. Skip the fancy toys
Pets don’t need fancy toys to stay entertained. Consider DIY pet toys, like knotted old t-shirts or cardboard boxes, to keep them active and engaged without shelling out money.
#5. Reuse household items as pet supplies
Reuse household items as pet gear to save on supplies. Old towels make perfectly adequate pet beds, and clean plastic containers work well as food and water bowls. In a pinch, an old baking pan can even become a makeshift litter box!
About Money.com.au:
Money.com.au is an Australian financial comparison platform founded by industry experts in 2019. Its goal is to provide people and businesses with financial education and access to financial products.
* About the data: Money.com.au commissioned the survey from Pureprofile, with a nationally representative sample of 1,000 Australians by gender, age, and location. Lifetime pet costs were calculated by multiplying the annual spend by the average lifespan, based on Purina’s estimates.
MEDIA RELEASE, 31st October 2024
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