So what are you getting your pet for the holidays?
We're guessing it's something huuuuuuge!
Especially since you typically cough up some serious dough for Fido.
- On average, American pet owners spend $1,560 per year on their pets (but we're guessing you spend more!)
- One-in-four say their pets cost more than they expected
- More than 3-in-4 Americans would make financial sacrifices for their pets
That's according to a Harris poll conducted for the American Institute of CPAs (AICPA).
"Owning a pet can be an incredibly rewarding experience, but it's also a long-term financial commitment," said Greg Anton, CPA and chair of the AICPAs National CPA Financial Literacy Commission.
Sure is.The American Pet Products Association estimates that pet lovers have spent just under $70 billion on pet care in 2017 - that's up from 10.7% from 2016.
So it's no wonder that our Jim Cramer says the humanization of pets is an up-and-coming investment opportunity.
He likes Idexx Laboratories Inc. (IDXX - Get Report) in the growing field of pet care and says it's the "best veterinary products out there, bar none. It's a laboratory of invention." (Check out this story for more on that.)
And there are others, like pet pharmacy PetMed Express Inc. (PETS - Get Report) , and Trupanion Inc., (TRUP - Get Report) which offers pet health insurance, both have benefitted from our love of pets.
And speaking of our pets, we put them in a video. Of course we did, so watch now.
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