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We love our pets. And we’d do anything for them.

But they can cost a small fortune to take care of, especially if they get sick or have an emergency. Pet owners hit with large unexpected vet bills often resort to running up credit card debt to cover them — or skipping the treatments that could prevent the next crisis.

The biggest problem is the recent pace of vet inflation: Because of higher labor and treatment costs, the price of vet care and other services has risen almost twice as fast as food and treat prices, climbing 42% between 2019 and April of last year.

But many people also lack the buffer they need to absorb the financial shocks that can come with owning pets — whether it’s savings or insurance. A 2024 LendingTree survey showed 37% of pet owners went into debt because of their pets, including 46% of parents with children and 43% of Gen Zers. More than two-thirds of those people had balances over $500, with 13% owing $2,000 or more.

Of course, these beloved family members require a serious investment of cash outside the vet’s office too. Between 2022 and 2025, average lifetime costs rose roughly 12% for a dog and 19% for a cat, according to a pet owner survey by Synchrony Bank. Over a 15-year lifespan, owners now spend ~$22,000-$60,000 on a dog and ~$20,000-$47,000 on a cat.

(Worth noting: Synchrony offers a pet care credit card, so it has a vested interest in pet costs, as do a number of other lenders and insurers who have conducted similar surveys.)

So what?

Pets are expensive. But you’re not beholden to the next emergency. These strategies can make it easier to avoid reaching for the credit card.

Build a pet savings account. Only a third of pet owners in a 2025 Gallup poll said they’d have more than $1,000 to spend if their pet needed lifesaving treatment. Contributing regularly to a dedicated high-yield savings account — even small amounts — creates a cushion to lean on if there’s an emergency. (A savings bucket like a SoFi Vault works too.)

Look for interest-free options to spread out the cost of a large bill. Some credit cards offer deferred-interest plans, where you can avoid interest as long as you pay your entire balance within a set timeframe, like 12 or 18 months. But — and this is important — you’ll pay a slew of interest if you can’t make the payoff on time, so tread very carefully. (Avoid this option if you’re not confident you can keep to the schedule.)

Speak up (and shop around). It may feel awkward asking the vet if Rover really needs that expensive test, but you shouldn’t feel guilty asking about cost-conscious options. Over 80% of vets say they often or always recommend alternatives when cost is a barrier. Along those lines, you may want to compare prices at different vets. You might find discounted services through local animal shelters or nonprofits like the ASPCA or Humane Society.

Explore insurance. Pet insurance can be a worthwhile option for some pet owners, but you’ll want to weigh whether the premiums and deductibles are worth the protection. And many policies don’t cover pre-existing conditions (unless you get that specifically). It’s best to research options while your pet is young and healthy, and read every whisker of the fine print.

Prioritize prevention. The Gallup poll showed over half of U.S. pet owners had declined necessary treatment or skipped vet visits in the previous year, in most cases because of cost. Even a third of people making at least $90,000 skipped care they couldn’t afford.

But problems caught early can often cost less. Skipping vaccines and other checkups led to $1,130 of debt, on average, according to a survey commissioned by MetLife Pet Insurance. And avoiding dental care added $580.

Paws (we couldn’t resist) before you commit. The surest way to avoid pet debt? Hold off on pet parenthood until you're financially ready. In the meantime, visit cat cafes, volunteer at shelters, or pet-sit for traveling friends.

Related Reading

Pricey Vets and Pet Debt (GBH)

1 in 3 Pet Owners Spend More on Their Pet Than on Their Own Health Needs Each Month (U.S. News & World Report)

Animal Shelters Are Crowded as High Costs Squeeze Pet Owners (NBC News)

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