Money Magazine

Fur baby or financial millstone?

My friend Rhonda recently raved about the $40 shampoo she purchased for George – the love of her life. “The fragrance is amazing. I just want to run my hands through his hair,” she said, giggling. “Awesome!” I gushed, inwardly cringing at the expense. I’m not convinced her extravagance will be appreciated, let alone noticed. George is not Rhonda’s husband. He’s not even her boyfriend. George is a Cocker Spaniel.

Rhonda is not alone. Pets outnumber people in Australia by about three million. RSPCA data shows close to one in two of us owns a dog. A further one in three shares their home with a cat. Many more own birds, fish or reptiles. Add in the 400,000 people who keep backyard chickens, and it’s easy to see how the nation’s 29 million pets play a huge role in our lives.

They can also punch a big hole in our household finances.

Hard-claw spending

Commonwealth Bank research found that pet owners lavish about 10% of take-home pay on their pets. All

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