While getting up early on these dark, cold mornings to walk the dog may seem like a struggle, there is no limit amount of cash that we are prepared to dedicate to our little furballs.
From the day they come home, whether a puppy or rescue dog, cost is not a problem when it comes to ensuring they are safe, well-groomed and adorned with the latest gadgets.
Admiral pet insurance, along with eToro’s own estimates, suggests that pet owners willingly fork out more than £2,000 per year for our pampered pooches to attend doggy day-care twice a week, and a further £25 a week just on treats.
Sending them on their own little holiday (or a seven-night stay in kennels) while the rest of the family jet off for a well-earned break comes with a price tag of £200, while pet insurance stands at around £10 per month and food comes in at £350 per year. All in all, our four-legged friends can cost upwards of £3,000 a year – A-woof!
When it’s lumped together like this, the amount we spend on the family pet can come as a bit of a shock. In fact, it has been suggested that a quarter of dog owners weren’t fully prepared for the real costs associated with having a dog, while almost half of us do no research at all on associated costs before embarking on pooch ownership.
However, from Chihuahua’s and Chow Chow’s to Labradors and border collie’s – there is a way for you to put your pooch to work.
Pets At Home, the popular high street chain that stocks everything pet owners require, has seen its share price soar 82% over the past 12 months to February 27, 2020.
There are other options too! Take the lesser-known, AIM-listed veterinary services provider, CVS Group, for example. The past 12 months has seen its share price grow more than 125% and while it appears to be under some pressure year to date, this can largely be put down to wider market uncertainty and could offer a good entry point for those that are interested.
It is quite often said by professional investors that stocks such as veterinary care or funeral houses offer an element of protection in their portfolio. This is simply because, even in times of heightened volatility or perhaps recession, we will still find the money to cover pet insurance or the care required for our precious pets. And we are unlikely to bury them in the back garden should the worst happen…
An investment in pet-related companies could offset some of that £3,000 a-year upkeep costs – perhaps it is time to put your money behind your mutt.
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