Is Inflation Harming the Family Pet?

Rising inflation penetrates every avenue of our lives making it more difficult to make ends meet. People are driving less, eating out less and over all, cutting back on non-essentials. Inflation is causing the household budget to become tighter and tighter. For many it is also increasing their debt.

But is inflation affecting the lives of our household pets?

At some point, we run out of things to cut back on. We recognize that putting more on credit, which we are already having difficulty managing, is not the solution. It is at this point that people start to make really tough decisions, often out of desperation.

Household cutbacks affect everyone in the home. Dad may need to cut back on his coffee on the way to work, Mom may need to cut back on quilting supplies, the kids may need to give up some of their extra-curricular activities, and the pets — what do the pets give up?

Anyone who cares for their pets knows that there is a considerable cost to ensuring they are provided with a caring home. It is not just the food, it is the medication and the dreaded vet bill. When the budget is stretched to its limit we are put into an extremely stressful situation. Change to a cheaper cat food? Dispense with the annual shots and meds that the dog needs?

The Winnipeg Humane Society tells us that of the dogs given up by families in the 2020/21 fiscal year, 63% were given up because the family could not afford veterinary costs. For the same period, it was 55% of the cats.

How much worse is it now, with rising inflation on top of everything else? At this point, many are forced to ask some very tough questions.

Can I afford the pet food that my pet is used to and loves?

Can I afford the vet bills and medication?

Can I afford to keep my pet?

These decisions are extremely difficult to face and are creating extreme hardship for many pet owners. These beloved animals are part of our families. To have to consider giving them up is devastating.

I have heard first hand from pet owners who have had to cut back on the amount they feed their pet, to keep up with the high costs of inflation. It is also reported that people who took on pets during the Covid crisis, are finding that being back to normal simply costs more. They have to spend more on gas, more on clothes for school and work, more on eating out. They are looking at surrendering or worse, abandoning these pets. Pets are being abandoned at higher rates than usual.

Inflation is definitely causing harm to the family pet.

There is help available.

A Licensed Insolvency Trustee is trained on how to assist people under financial strain. There are good options available that don’t require drastic measures like giving up a family pet or cancelling the kids’ hockey.

There is no cost to meet with a Licensed Insolvency Trustee and often they are able to show you solutions that you may not have even known existed.

Don’t wait until the stress of your financial situation is affecting your pets. Seek help now. You and your entire family, furry or not, will be glad you did!

Give our experts at LCTaylor a call to set up a free, confidential consultation. The right solution for your situation is out there. You just need to find it, and we can help. Call 204–925–6400 in Winnipeg, 1–800 463–8371 outside Winnipeg, or check out our website at LCTaylor.com.

Originally published at https://lctaylor.com on February 26, 2023.