The Brief

We love them and they are a member of the family, but owning a pet can get expensive.

What’s more, the cost of owning a pet is going up, according to a study conducted by Synchrony, a financing company.

Since 2022, the cost of owning a dog increased by 11.65%, while cat care jumped by 19.4%, leaving owners underestimating the true cost of owning a lifelong furry companion.

Tens of thousands spent on pet care

Dig deeper:

Pet owners, however, estimated they would only spend around $8,000 on their dog’s care or $6,000 on cats, according to the study.

What they're saying:

"Pets enrich our lives in countless ways, and it’s natural for pet owners to want to provide them with the best possible care," said Jonathan Wainberg, senior vice president and general manager of S

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