More on Dogs and Cats

Animals aren't cheap, but that is because we are rich and willing to spend on their health.

Dogs can cost between $310 and $7,100 to maintain every year and between $4,070 and $101,070 to maintain over a lifetime, says Kiplinger’s Personal Finance. That’s more than kibbles and bits.

Cats are cheaper on average: between $490 and $940 per year and between $7,760 and $15,260 per lifetime. The annual costs take into account many factors, including food, toys, monthly veterinarian visits, and other essential supplies

The first year of owning a cat or dog costs substantially more than the average annual cost. For dogs, the cost of ownership for year one averages between $710 and $8,730; for cats, the cost is between $930 and $2,060. The reason why this cost varies from the average annual cost is due to the purchase price of the pet itself. While both cats and dogs can be found for around $50, some breeds of dogs are sold for $1,000 while select breeds of cats are sold for $750. In addition to the purchase cost, there is also spaying and neutering ($190-$220 for dogs, $145 for cats) as well as an initial medical exam ($70 for dogs, $130 for cats) to account for.