What to know
- The majority of Canadians say pets are family, not just animals.
- 71 per cent admit to cutting personal costs to splurge on their pets.
- Top sacrifices include dining out, clothing, and self-care
- Local pet owners say they’d rather spend less on themselves than on their animals
Whether you consider pets as fur babies, best friends, or family, data reveals Canadians are tightening the leash on their own spending before they cut back a dime on their pets.
Pet Valu and Caddle reveal research showing Canadians are willing to cut corners in their own spending to spend more on their pets.
Leisure spending being cut includes:
- Dining out: 51 per cent
- Clothing: 38 per cent
- Self-care: 30 per cent
- Coffee: 22 per cent
- Streaming services: 19 per cent
71 per cent also cut personal costs to splurge on grooming, birthdays, and travel accessories.
So, Now Toronto asked local pet owners for their thoughts.
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Would you cut corners on your own spending to splurge on your pet?
Toronto residents Prashanth P. and Varshaa N. said they would do it, and actually already did for their dog Venba.
“[We cut some] shopping for ourselves. We don’t shop much because we have to cater to her needs. She has special dietary needs for the shedding and everything,” Varshaa explained.
Prashanth shared that they also got their dog a really nice crate, which also cost a lot.
Toronto resident Sammy I. shared that he’d definitely cut his, saying he’s already cut back on many leisure activities for his two dogs, Bruce and Koda.
“Going out, socializing, drinking, recreational stuff that I would do, that I could invest instead in them. I’ll do that. I’ll cut down on my time for them,” he told Now Toronto.
He often splurges on treats and toys for his dog, too.
Toronto resident Charm T. cuts costs for her dog, Scooby, “within reason,” she says.
“Being a parent, you’ve got to make a choice: kids and pets. Everybody’s got to eat, but he does get treated probably just as well as my kids, too,” Charm told Now Toronto.
She’s recently splurged on new bedding and treats for Scooby.
Do you consider your pet a family member?
The study reveals that 87 per cent of Canadian households with a dog or cat consider their pet a family member or child and, as a result, spoil them by cutting back on their own costs.
Torontonians unanimously responded yes.
Prashanth shares that their dog is “one of us.”
For Varshaa, she calls her dog her “best friend” rather than calling herself a “pet owner,” saying, “we don’t own them.”
Sammy also considers his pet a family member. “The amount of sacrifices I’ve made for them; definitely a family member.”
Charm rather calls Scooby her “child.”
“I couldn’t ever just see him as a pet. He is a child.”
Do you have pet insurance?
According to data, 90 per cent of pet parents actively think of ways to extend their pet’s lifespan and quality of life, with 58 per cent purchasing pet health insurance.
Prashant and Varshaa say they use the pet insurance, Fetch.
“It’s better to be safe than sorry. If something happens and we really need the money, then insurance helps cover it,” Varshaa explained.
Sammy says he also has insurance, saying, “You never know what could happen.”
He added that having big dogs like his, there are hereditary health issues he needs to look out for, as well as accidental dog emergencies, such as eating something he shouldn’t.
But Charm T. does not believe in pet insurance, saying she can’t afford it in the first place and finds it pointless to pay out of pocket just to wait to get reimbursed.
“I just found that if you had the money to pay out of pocket, you wouldn’t really need the insurance in the first place,” she said.
If you had an extra $100, would you keep it for yourself or spend it on your pet?
Prashanth P. says he’d spend 50-50 with his pet, while Varshaa would go 60-40. “More for her,” Varshaa said.
While Sammy would choose depending on whether the pets need it.
“If they need that 100, definitely, without a doubt. No second thoughts. But if they’re good and they’re taken care of, I’ll splurge on myself,” he said.
“Canadian pet parents share a strong emotional connection with their pets, and are dedicated to helping them live longer, happier lives. With this comes an inherent desire to prioritize pet spending above many of their own everyday pleasures,” Greg Ramier, chief executive officer of Pet Valu, said in a news release. “Pets are a treasured part of Canadians’ lives.
