Young people, especially Generation Z, are often thought to lack responsibility and foresight. Yet when it comes to their pets, a recent US survey reveals that these young owners are not only generous with their spending, but are also among the best prepared to deal with the unexpected.
Some 66% of dog and cat owners describe their companions as “mischievous”, according to this survey conducted among 2,000 pet parents. In fact, 58%confide that their four-legged friend has recently been up to mischief, whether by relieving themselves where they shouldn’t (25%), rummaging through rubbish (19%), or damaging furniture (12%).
Experience makes all the difference when it comes to dealing with the mischief of these furry friends. Seasoned owners, with more than five years’ experience, report far fewer mishaps (36%) than novices (54%). The latter often learn the hard way, particularly in terms of damage or emergency veterinary visits.
But whether novice or experienced, all pet parents are faced with the expense of caring for their pets. Over the past two years, 16% of pets have had a mishap that required a vet visit, with an emergency visit costing an average of US$210.
On this front, young people stand out, with 28% of Gen Z and 21% of millennials having had to deal with this type of unforeseen event. But their secret weapon is foresight: 74% of young owners take out pet insurance, compared to just 54% of their elders. This often prevents them from getting into debt, an issue that affected 23% of owners in 2024.
Prioritising pets’ wellbeing
Last year, pet owners spent an average of US$121 (about RM540) per month on their pets, far less than the US$276 recorded in 2022. Generation Z once again stands out from their elders, allocating a monthly budget of US$178 to their furry friends, far ahead of baby boomers, who make do with an average of US$90.
However, savings dedicated to pets are on the decline, since only 10% of owners have a dedicated account, compared to 44% two years ago.
Despite a drop in overall spending, pet owners remain firmly committed to prioritising the health and wellbeing of their companions.
“Pet parents may be more cautious with their spending and more apt to save these days, but what we’re seeing in the data is they’re also being more responsible with their spending,” veterinary health expert Dr Stephanie Liff noted.
Caring for a four-legged friend can be a challenge but, with the right tools and advice, everything becomes simpler. Seasoned owners encourage novices to rely on reliable sources: consulting experts for relevant information (25%), talking to other owners (23%), and working closely with their vet (21%).
At the end of the day, being a good pet parent is about more than just loving your pet – it’s about taking the responsibility of pet ownership seriously, and happily, younger generations are clearly rising to the challenge.