Women are much more likely to spend and “save” when it comes to their pets. Learn more.
A family I know has a beloved golden retriever who seems all fluff and wag, but behind those big brown eyes lies a shrewd survival instinct.
The dog (we’ll call her Spot to shield her identity) devotes herself almost entirely to the female head of household. That attachment, according to new Millionaire Corner research, could mean all the difference … .
Women participating in our monthly survey for November indicate they are much more likely than men to provide emergency medical care for their pets, and tend to lavish more money in general on their animals. (Both men and women prefer dogs, but women are also more likely to have multiple pets and a larger share owns cats.)
More than half (52 percent) of the men participating in our survey say they spend less than $500 a year on their pets. In comparison, more than 60 percent of the women spend $500 or more, including 13 percent who spend $2,000 or more.
Not only are women more likely than men to but pet treats and toys (73 percent vs. 68 percent, respectively), but they are also more likely to spend on emergency vet care (38 percent vs. 22 percent) and regular veterinary care (80 percent vs. 75 percent).
What if Spot develops a chronic (and potentially expensive) health condition? The female head of household is much more likely to spend money to help Spot feel better. More than half of women (55 percent) say they would consider spending money on medications for their pet’s chronic conditions, such as allergies. Less than 44 percent of men would consider such an expense.
Roughly one-in-five women would consider paying for extensive surgeries for their pets, including reconstructive knee surgery (20 percent), reconstructive hip surgery (19 percent), and chemotherapy (19 percent). Fewer than 15 percent of men would consider paying for any of these procedures.
Twenty-two percent of women, compared to 12 percent of men, would consider paying for a pet’s anti-anxiety or anti-depressant medications, but the gender gap is widest when it comes to oral hygiene. Close to 64 percent of women, compared to 47 percent of men, would consider spending money to have their pets’ teeth cleaned. See Spot smile.