Animal-loving Brits are spending a fortune on their furry friends with the average owner splurging £1,150 a year - or £95 a month.
The craze for dressing up our pets seems set to continue with owners spending, on average, nearly £200 a year on clothes for their pets, with over one in five (22 per cent) admitting they spend up to £20 on outfits each month. Outfits are the third highest expenditure for dog owners and the second highest for cat owners, after food.
Owners spend nearly £200 a year on clothes for their pets
In total, the UK spends over £10 billion a year on their dogs alone and £8 billion on cats.
Despite expenditure on outfits and accessories, a staggering 70 per cent of UK owners do not have insurance for their pets. says comparethemarket.com. Over half (54 per cent) of dogs and 71 per cent of cats are uninsured, leaving owners exposed to hefty vet bills should their animals get injured or fall ill. Respondents without pet insurance had paid on average £479 in vet bills over their pet's lifetime.
The majority of respondents without insurance (44 per cent) claimed that they did not cover their pets because they thought it too expensive, with 57 per cent of uninsured respondents estimating that insurance for dogs cost between £11 and £20 per month.
"In fact, pet insurance starts from as little as £4 per month depending on the age and breed of your dog," says Gemma Sonfield, head of pet insurance at comparethemarket.com.
What we spend on our pets
- Food - £28.75
- Grooming - £17.34
- Outfits -£16.90
- Accessories - £12.47
- Toys - £13.17
- Vet bills - £4.81
- Kennels - £4.26
- Passport -£2.27
Total £101.08 per month or £1,212.94 per year
- Food - £29.16
- Outfits - £13.76
- Grooming - £13.54
- Accessories - £13.58
- Toys -£11.92
- Vet bills - £4.45
- Catteries - £4.25
- Passport -£1.72
Total £91.28 per month or £1,095.33 per year
- There are more money-saving tips in every issue of Yours magazine, out every fortnight on a Tuesday.