Have you ever wondered exactly how much it would cost to raise a baby vs a puppy during their first year of life? Well now you can, thanks to a new online guide.
Astonishing new data reveals that owners will spend £9,364 on a child in its FIRST YEAR compared to £1,118 for a puppy.
In fact, dog owners will only spend an estimated £8,500 over a dog’s lifetime, which is cheaper than a child’s first year!
A new tool breaks down the costs of owning a dog in the first year and provides a breakdown of the food, equipment and medical bill costs.
PupPal, created by leading UK pet food brand Webbox, is your comprehensive guide to finding out the real cost of owning a puppy during their first year of life, compared to the cost of raising a baby during their first year.
New research has found that on average, it costs more than £1,000 (£1,118) to raise a puppy during their first 12 months. However, a baby is considerably more costly, with an overall cost of £9,364 to raise a child during their first year of life.
Despite having similar needs of food, toys and medical bills, puppies have come out as significantly cheaper and data suggests Millennials are getting pets as ‘starter children’.
According to data collated by business solutions agency Gale, 44 percent of Millennials see their pets as practice for having children in the future. Rather than commit to the financial implication of having a baby, many are choosing the cheaper option of owning a pet to road test life with a dependent.
Babies are known for guzzling through litres of formula, so it’s not surprising that it costs on average, £1,043 for food and formula during a baby’s first 12 months. That’s only £75 cheaper than the total yearly costs of raising a puppy.
Aimed at potential new puppy owners, PupPal has also covered the average lifetime costs of owning a dog. Owners will spend an estimated £8,500 during a dog’s average life expectancy of 13 years. This is still cheaper than a child’s first year!
During a puppy’s first year of ownership, owners should roughly expect to pay:
Food – £429
Equipment and toys – £301
Medical Bills – £338
Training school – £50
Jennifer Dean, NPD Technologist, from Webbox said: “Owning a puppy is one of the most rewarding experiences anyone can have, as they bring happiness and love into your life. We understand many potential owners might not know much a puppy actually costs, which is exactly why we created PupPal to help prospective pup parents figure out the first year and lifetime costs of a puppy – after all, a dog is for life!”