The Buddy Index© tracks dog’s (average active 40 lb. dog) expenses each year. This is a way for us at Carter Financial Management (CFM) to share love and passion for our pets. They are more than just a pet; they are our companion and members of our families.
Here at CFM, 62 percent of us are dog owners and 29 percent are cat lovers. Buddy is an Australian border collie owned by CFM president, Bill Carter. We’ve released this year’s Buddy Index during National Pet Week.
Enjoy and please consider pet adoption today.
When it comes to their pets, Americans love, care … and spend. The Buddy Index* infographic reveals that:
- Between 2012 and 2014, pet care spending increased by almost 10 percent (8 percent).
- Americans are spending $1,133 per year on their pets.
- Between 2012 and 2014, pet expenses were more than 2.5 times the cumulative U.S. inflation rate.
- Preventive and annual medical costs represents almost 40 percent of annual pet costs.
- Of medical costs, heartworm tests showed the biggest jump in costs—28 percent between 2013 and 2014.
- 51.6 percent of all U.S. households own a dog or cat; 57 percent of Millennial households own a dog or cat.
* U.S. Inflation numbers from US Inflation Calculator. Pet medical expenses from an annual review of Banfield Pet Hospital service pricing. Pet lifestyle expenses from an annual review of PetSmart product pricing. U.S. pet ownership statistics from PetFoodIndustry.com.
The Buddy Index is compiled by Carter Financial Management, an independent financial planning firm based in Dallas. The company is led by Bill Carter, owner of Buddy, an Australian Border Collie.
The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete. Any opinions are those of Bill Carter and not necessarily those of RJFS or Raymond James. Expressions of opinion are as of this date and are subject to change without notice.
U.S. Inflation numbers from US Inflation Calculator.
Pet medical expenses from an annual review of Banfield Pet Hospital service pricing.
Pet lifestyle expenses from an annual review of PetSmart product pricing.
U.S. pet ownership statistics from PetFoodIndustry.com.
onsite visit to Banfield Pet Hospital Clinic in Wylie, Texas 75098 2012,2013 and 2014
onsite visit to PetSmart#2066 in Wylie, Texas 75098 2012, 2013, and 2014
onsite visit to PetSmart #622 in Dallas, Texas 75244 2012,2013, and 2014