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Many young adults have a desire to have a cat, dog or other pet when they set out on their own, whether for personal security or cuddly companionship. But unfortunately, many Gen Zers who have gotten a pet have found that the cost of keeping them is simply unsustainable.

In fact, a LendingTree survey of 1,991 U.S. consumers discovered that 25% of Gen Zers said they have given up their pet because they couldn’t afford to care for them. They’re not alone, though. Across all Americans, 12% have surrendered a pet for the same reason.

Rising costs due to post-pandemic inflation put a strain on many pet owners as pet food and supplies became more expensive over the past few years. But inflation isn’t solely to blame for pet unaffordability issues. Having a pet is expensive across the board, and there are often costs that don’t get considered when someone decides to bring an animal into their home. We don’t talk openly enough about how pricy pets can be, and with around two thirds of U.S. household having pets, young people may believe they’re easily affordable.

Why are pets so expensive?

Food and supplies: The most basic ongoing pet expense is the stuff that keeps them alive and safe, such as food, litter, etc. These are the generally predictable costs most people think of when they’re planning to get a pet. Sometimes an animal can have problems with certain food ingredients, and specialized food can be exorbitantly expensive, but it’s still a steady cost that can be incorporated into a budget. Some pets need specific enclosures and even specific lighting or warmers as well.

Vet bills: Some vet bills are predictable, such as regular checkups and vaccines. But you never know what the vet might find even on a routine checkup, and if anything needs to be done, it can add up quickly.

But there are also health maintenance vet bills that many people aren’t aware of. For instance, cats should have their teeth cleaned professionally every year or two, according to many veterinarians. A teeth cleaning might not seem like a big deal, but cats have to be anesthetized to do it, so it costs hundreds of dollars (sometimes over $1,000, depending on the vet).

Grooming: Depending on the pet you choose, you may have to pay for haircuts or other grooming costs. Some dogs have hair instead of fur, which can get overgrown and matted if not properly cared for.

Boarding/pet sitting: Unless you never go anywhere or always take your pets with you (which isn’t always feasible), you’ll likely have to pay for someone to care for your pets whenever you leave town. That could range from paying a friend in pizza to full-on boarding kennels, which can sometimes cost as much as a hotel room, but it’s an expense people often don’t think about until a vacation comes along and they have to figure out what to do with their furry friends.

How much does it cost to have a pet?

According to Rover.com the average annual cost of owning a cat is $710-$2,865 a year and for a dog it ranges from $1,000–$5,225. That can be a lot for people who are on a tight budget. And when you start adding multiple furry friends together, it gets even more expensive.

There are other pets people can get besides cats and dogs, of course, and they’ll all have their own average costs. But there’s no such thing as a free pet, so it’s important to be sure you can easily afford them in your budget regardless of what kind of animal you get.

How can people more easily afford to have a pet?

1) Look at getting a pet as a major life purchase with ongoing expenses. Just like when you buy a car and know you’ll have to pay for gas, oil and air filter changes, new tires and repairs when something starts to not work right, you have to account for all the potential costs of having a pet. Literally plan it into your budget to be sure you can afford it.

2) Crunch the numbers and see if pet insurance might be a good option. According to PawlicyAdvisor.com, the average monthly premium for pet insurance ranges from around $20 to $40 for a cat and $35 to $120 for a dog (depending mostly on breed). Premiums rise with an animal’s age and can vary greatly by breed for dogs, but pet insurance could be a good option if budgeting a steady monthly insurance premium is easier for you than being hit with an unexpected vet bill.

3) Look for assistance if you’re struggling to afford your pet.Pethelpfinder.org is a great resource that can direct you to programs in your area that provide affordable pet services or help with the cost of food, vet care and even boarding. The Humane Society offers a list of resources for people who are having problems affording their pets as well.

4) Consider fostering instead if adopting a pet really isn’t in the budget. There are lots of animals out there who need temporary care while they wait for their forever homes. Fostering gives you the benefit of caring for an animal without the cost, as the expenses are covered by the foster program. It can be hard to let them go when they do get a permanent home, but if you see it as a service for the animal, giving them a loving temporary home, it can be incredibly rewarding.

Cats and dogs can cost more than people expect. Photo by Tatiana Аzatskaya/Pexels

Having a pet is a significant expense and we need to be upfront about that. There are options available if you find yourself struggling to afford pet care, so be sure to exhaust whatever options you have if you want to keep your pet. At the same time, rehoming a pet when finances make it impossible to care for them properly is an act of love in itself. Making sure our animals are thriving is the most important thing, even if that means finding them a home that can provide what they need.