The American Dream
The American Dream has always been a good job and home-ownership, followed by 2.7 kids, a dog, and a cat. Now, however, the generation called millennials–those in the 23 to 38 years old age range–are mixing it up a bit. No longer is home ownership the priority (their student loans often make that impossible anyway). Despite that, millennials are still making a home–with their pets. Dogs are more popular than cats with millennials, but regardless of which one, millennials are choosing pets.
The median home price in New Jersey is $319,000, so it’s no wonder that people are turning to something that will at least make them feel at home, even if it’s not a home they own. Instead of renovations, new paint, or a new furnace, millennials are spending their money on their pets. After all, it’s adds up to a lot less than a mortgage. Millenial dog owners spend around $1,285 per year on their dogs, while cat owners spend a little bit less at about $915 per year. They are also willing to take time off of work (as allowed) to care for their sick furbaby. It’s not excessive; these are pretty standard amounts for basic pet needs such as checkups, shots, food, and toys.
Bond Between People and pets
The bond that exists between any pet owner and her pet is there regardless of which generation it is, but millennials have a little something more, too. This generation is more likely to adopt a pet from a shelter, rescuing it and giving it a home, showing that they are not, as derisively as some like to say, a selfish generation.
After all, for most pet owners, pets have our hearts, so it makes sense for millennials too–home is where the pet is.
Sources: CNBC, APP, Pet Business