Most Americans own a pet. How much do you think they spend annually? 

Answer: Around $1,400

Questions: 

• Do you have a pet currently? Have you ever had a pet?
• What do you think are the biggest expenses when it comes to having a pet? 
• Would you ever consider buying pet insurance to help cover potential vet expenses for a pet?
  
• The article references expenses for dogs and cats. How would expenses for other types of animals be different?

Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (Credit.com): 

"How much do dogs cost per year? According to the ASPCA, the average pet owner spends nearly $1,400 annually on their furry pal. However, other sources put this number much higher.

Below is a look at some of the expenses you can expect to incur every year you have a dog. If you have multiple dogs, these costs will be a lot more.

• Food: $200 to $700
• Vaccines and routine care: $200 to $500
• Heartworm and flea prevention: $175 to $200
• Vitamins: $58
• License: $15
• Treats and chew toys: $100 to $300
• Grooming supplies: $25 to $75

Of course, cats aren’t always predictable. You may have a certain cat food in mind—one that fits your budget—but that doesn’t mean your cat will like it. Cats can also be particular about the type of litter they use. Still, the following ranges give you an idea of what to expect in the years ahead.

• Food: $200 to $500
• Medical care and vaccines: $200 to $550
• Flea and tick prevention: $140 to $200
• Treats: $35 to $100
• Litter: $150 to $200
• Toys and scratching post: $20 to $100
• License: $15
• Grooming supplies: $28"

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For more budgeting activities, check out the NGPF Budgeting unit page!

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About the Author

Ryan Wood

Ryan is the Partnerships and Adoption Manager for Next Gen Personal Finance’s midwest region. He brings his experience as a former teacher, curriculum designer, and sales and marketing professional to state organizations and school districts in supporting the implementation of their personal financial education efforts. He graduated from the University of Wisconsin-Green Bay and earned his teaching credential from Saint Mary’s University in Winona, Minnesota. He proudly taught at two rural high schools in Wisconsin before transitioning to curriculum design at NGPF, and is now excited to be on the front lines in delivering the best possible financial education in the midwest. He and his wife have three beautiful daughters, each of which inspire him to share the impact of being sound financial stewards both at home and as lifelong learners.