Pets really are becoming the major alternative to having children. In fact, more than half of pet owners not only consider their pets to be a part of their family, but they say they are just as much a part of their family as a human member, according to Pew Research Center.
Pets show affection and can give life more meaning—but they undoubtedly become a major line item in a budget, considering the cost of insurance, vet care, food, shelter, and of course, the trendiest bandanas and leashes. Still, having a pet is considerably more affordable than having a child. Parents can expect to pay between $16,000 to $18,000 per year, according to USDA estimates. Pets, on the other hand, cost their owners a little more than $1,300 per year, according to Empower, a financial services company offering planning, investing, and advice.
