People love their pets: that's a well-known fact. However, a recently released survey conducted by the American Kennel Club proves just how much. Based on responses of more than 1000 pet owners, they are clearly willing to choose their pets over their own personal pampering.
According to the survey, 96% of respondents with a taste for gourmet coffee would sacrifice their lattes to help save money for their pets' expenses. Ninety-seven percent said they would skip luxuries like massages and spa treatments to pay for vet bills. And remarkably, nearly 60% would perm or color their own hair in their kitchen sink in order to keep their animal's appointment at the groomer. Personally, while my dog Max's personal care is very important to me, I draw the line here.
The only thing coming remotely close to competing with a pet owners love for their pooch is the Internet. More than 70% of survey participants said they wouldn't be able to part with their beloved Internet access.
What was really interesting to learn is that [as they should] pet parents are continuing to invest in pet health insurance as a preventative way to manage health care costs. And some pet owners are actually choosing to insure their pets' health before they insure their own.
Other things pet parents say they are willing to sacrifice for their pets include:
- 97% say they now eat more meals at home
- 72% are willing to cancel their gym memberships
- 50% would cancel their cable or satellite service
- 94% would spend less on new clothes
- 89% would delay plans to remodel their home
- 88% would put off the purchase of a new car or buy a less expensive one
So, while watching the markets is something like watching the proverbial bouncing ball, clearly one thing remains steady and true. And that's our love for our pets. It gives me cause for hope.