Pet owners find a way to pay for emergencies
37% of respondents to a LendingTree survey would pull out a credit card to cover a $1,000 expense.
Fifty percent of pet owners would go into debt — either with a credit card or personal loan — to pay a $1,000 emergency pet expense, according to LendingTree.com.
The finding was part of an online survey of 760 people that revealed what they would do to cover a pet-related emergency.
“Even though there’s a financial strain associated with pet ownership, for many people, it’s worth it,” a LendingTree spokesman said.
Among other survey results:
- 61% of respondents have had to deal with a pet’s emergency medical expense.
- 66% of cat owners and 60% of dog owners worry about pet-related medical expenses.
- 37% would use a credit card to pay a $1,000 emergency expense and 13% would take out a loan. On the other hand, 28% would use cash and 18% would dip into savings.
- One in 10 millennials is paying off a pet debt.
The complete report from LendingTree, an online loan marketplace, is available at http://bit.ly/2lxkynZ.