Two-thirds of Brits spend more on their pets than themselves 3 months ago

Two-thirds of Brits spend more on their pets than themselves

Now we know where all the money has gone

Everyone loves their pets but new data might suggest Brits have gone too far as they spend over two-thirds more on their pets than themselves.

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New research from MoneySuperMarket shows that Brits spend almost £500 annually on luxury items for their pets. Such items include everything from treats to toys. Arguably the biggest shock? 71 per cent of Brits are willing to spend more on their pet than themselves.

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Surveying 2,209 UK adults, they found that Gen-Z are the biggest spenders, on average dishing out around £759 on luxury pet items. In contrast, those above the age of 55 only spend roughly £308 annually.

Those of a younger demographic are also more likely to incorporate technology into pet care, as seen in the 26 per cent of young Brits who have incorporated pet cameras into their lives.

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As the country returns to work following the pandemic, pet welfare also plays heavily on the minds of Brits, with 34 per cent of them concerned for their pet's wellbeing when they're left alone in the house. Meanwhile, a further 35 per cent are more willing to pay for pet therapy than seek help themselves.

In a bid to quell a stressy pet without costly therapies, 14 per cent are including CBD supplements in their animal's diet, which is readily available at pet stores or through online marketplaces like Amazon. Other more holistic approaches include the employment of catnip, which 10 per cent of people use.

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While people are clearly willing to shell out money for pet therapy, 26 per cent can't afford it. Cost is clearly a huge issue in the pet sector, with 28 per cent of people struggling to find pet insurance and a further 17 per cent willing to risk it all and not purchase insurance at all.

Just goes to show, people will do just about anything for their furry friends.

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