Buddy Index 2016
Reveals American pet spending hits $1,383 per year
DALLAS—April 29, 2016—The 2016 Buddy Index© infographic from Carter Financial Management shows that American pet owners spend an average of $1,383 per year, per household, which represents an overall increase in pet spending. This downloadable infographic showcases the latest insights about pet care and ownership in celebration of National Pet Week, May 1-7.
“The Buddy Index celebrates our own passion for pet ownership,” said Bill E. Carter, founder and president of Carter Financial Management in Dallas. “It’s a fun way to let clients and friends celebrate our enthusiasm for the dogs, cats and animals that always love us back, anywhere and anytime.”
CFM employees showcase their own pets – and invites other to post their pet pics – at www.pinterest.com/thebuddyindex.
Key findings in this year’s Buddy Index infographic:
- The majority of American households (63.2%) consider pets to be family members, not just companions (35.8%) or property (1%)
- American households spent an average of $1,383 on their pets. On average, dog owners annually spent $1,642 while cat owners spent $1,125
- A comparison of annual household pet spending (average) vs. other expenses such as groceries ($3,971), eating out ($2,787)—even college tuition (9,410)—shows pet costs lower, on average, but still a significant financial commitment and responsibility
- The top three pet-related expenses for dogs and cats are surgical veterinary visits, routine vet visits and food. Dog owners spent $551, $235 and $269 respectively, with cat owners spending $398, 196 and $246, respectively.
- While pet spending increased .62% percent since 2012, overall pet spending appears to be decreasing since 2006, with inflation also showing decreases in the same time periods.
For the complete findings, view and download the Buddy Index infographic online. The Buddy Index is compiled by Carter Financial Management, an independent financial planning firm in Dallas. The company is led by Bill E. Carter, owner of Buddy, an Australian Border Collie. Carter Financial Management has no official affiliation with organizations identified in this announcement or infographic.
Additional Resources & Links
- Carter Financial Management, www.carterwealth.com
- The Buddy Index, http://www.carterwealth.com/buddyindex2016
- Pinterest, Buddy Index, www.pinterest.com/thebuddyindex
- American Pet Products Association, http://www.americanpetproducts.org/
- National Pet Week, American Veterinary Medical Association
Carter Financial Management is located 12222 Merit Drive, Suite 1800, Dallas, Texas 75251. Securities offered through Raymond James Financial Services, Inc., Member FINRA/SIPC. 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.
Links provided are for information purposes only. Raymond James is not affiliated with, and does not endorse, authorize or sponsor any of the listed websites or their respective sponsors. Raymond James is not responsible for the content of any website or the collection or use of information regarding any website’s users and/or members.