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Pet, expenditures
Pets play such an important role in individuals’ and families’ financial lives. Nearly three-quarters of U.S. households own pets, spending more than $61 billion, or just more than $500 per household, each year on pets. Yet this topic has largely ignored been ignored family and consumer economics researchers. This paper will review sources of data collected about pets, describe the pet insurance market, and identify implications for family and consumer economics practitioners and researchers.
Brenda Cude, Ellen Barrow