Lifetime pet care costs have surged—up 12% for dogs and nearly 20% for cats since 2022
3 in 4 pet owners face surprise bills over $250, yet only 31% feel financially prepared
Misjudged pet care expenses are fueling demand for insurance and credit-based solutions
The cost of caring for a pet is climbing faster than many owners realize, according to the newly released 2025 Pet Lifetime of Care Study by consumer financing company Synchrony. The study reveals that costs for dogs have risen by an average of 11.65% since 2022, while cat care has jumped 19.4%—leaving many households underestimating the true price of lifelong pet companionship.
Caring for a dog over a 15-year lifespan now costs between $22,125 and $60,602, while cat care over the same period ranges from $20,073 to $47,106, the study found. Yet most dog owners believe they’ll only spend around $8,000, and cat owners predict just $6,000.
“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 Synchrony’s pet division. “Our research shows... many are unaware of the true financial commitment.”
Nearly 8 in 10 pet owners underestimate lifetime costs, and 74% report unexpected bills over $250. Financial stress has also grown: in 2022, 1 in 3 pet owners worried about covering pet costs; now, it’s nearly 1 in 2. As a result, 58% have turned to credit cards, but only 20–24% of pet owners have emergency savings or insurance.
The study also found growing adoption of high-tech pet products and wellness plans:
Dog owners spend up to $701/year on wellness plans and $313/year on insurance
Cat owners doubled tech spending, now $350–$480/year
Pocket pet owners expect to spend under $3,000—but actual 6-year costs are $7,600–$14,938
Rising ownership—especially of cats—amplifies the trend. According to the American Pet Products Association, 49 million U.S. households now own a cat, up from 30% to 37% of households in just one year.
As costs climb and pet tech and health needs expand, Synchrony’s report underscores a clear message: love isn’t always enough—planning is essential.