According to the American Society for the Prevention of Cruelty to Animals (ASPCA), the average dog owner spends approximately $3,221 in the first year of pet ownership, and $1,391 annually. Cat owners tend to have slightly lower expenses, with a first-year average spend of $1,904 and an annual spend of $1,149.
Over the lifespan of a pet, these costs add up. Fortunately, a pet loan can help ease the financial burden and spread the costs over time.