The Financial Burden of Pet Ownership for Young Adults

Pet ownership can strain finances, making it crucial for young adults to consider long-term savings over immediate desires.

### The Financial Burden of Pet Ownership: A Cautionary Tale for Young Adults
* 🐶 The pet market, particularly for dogs and cats, has seen significant growth, with **dog strollers now outselling baby strollers**, highlighting the **importance of pets in people's lives**.
* 💵 A case study of a single woman in her early thirties reveals that her initial estimate of **150,000 won per month** for pet care quickly escalated, leading to **unexpected financial strain** due to her puppy's frequent illnesses and the lack of **public health insurance for pets**.
* 🏥 She faced high veterinary bills and the need for private pet insurance, which added to her financial burden, as each treatment could cost **hundreds of thousands of won** without insurance.
* 📸 The pressure to keep up with social media trends among pet owners, including **luxury pet foods and travel experiences**, exacerbated her feelings of **inadequacy and guilt** for not providing similar experiences for her dog.
* 💔 As her expenses grew, she found it increasingly difficult to manage her **basic living costs** in Seoul, leading to a **financial deficit** and contemplation of **giving up her pet**.
* 📊 Statistics show that **28.2% of South Koreans own pets**, with a significant portion of pet owners being **women in their 20s and 30s**, who often struggle to **cover the costs associated with pet care**.
* 💡 The rising costs of dog daycare, which can range from **40,000 to 500,000 won per month**, highlight the financial challenges faced by young adults who wish to own pets while trying to **save for their futures**.
* 🚫 Ultimately, the speaker advocates for a **careful consideration of the financial implications of pet ownership** and suggests that young adults should **prioritize their future financial stability** before committing to raising a pet.

Hello, I am Park Jong-gyeong, a life consultant. Recently, the market for pets, both dogs and cats, has exploded. One of the most representative examples is that dog strollers are selling much more than baby strollers. This shows that pets have become a significant topic for many individuals. Today, I would like to discuss how the costs associated with having pets can lead to situations where people are unable to save money. 

Let me introduce a case: she is a woman in her early thirties, single, and living a typical life while working at a company. Her monthly salary is around 2.3 million won, which is not abundant, but she has always wanted a pet, particularly a dog, since her parents opposed having one when she was a child. Now that she is independent, she...

I always had the thought of wanting to raise a pet. As soon as I became independent, I adopted a puppy. Initially, when I looked into adopting a pet, I found that it would cost about 150,000 won a month. I didn't think it would be a huge expense, and I thought that at most, it would be around 300,000 won. However, the puppy I adopted got sick more often than I expected. Since I live alone, there weren't many places I could leave my pet, so at first, I asked friends for help. But this wasn't easy either, so I had to look for a dog daycare, commonly referred to as a dog hotel. Since I couldn't leave my dog there every day, I found myself relying on my parents more often, despite having become independent. On top of that, visiting the animal hospital made me realize that there was no public health insurance for pets.

Unlike ordinary people in Korea, there is no public insurance for pets. Therefore, I had to look into private insurance through insurance companies, which also incurred quite a bit of cost. If I didn't enroll in insurance, I would end up spending hundreds of thousands of won each time I needed treatment. Moreover, since I started raising a pet, I inevitably came into contact with other pet owners, which led to increased competition over the expenses for pets. Many people often upload photos taken with their dogs on their social media accounts. Additionally, there are luxury pet foods available, so I felt the pressure to feed my pet those high-end foods. As photos of pets dressed in luxury clothes started to increase, it made me feel quite anxious. On top of that, there are trends like dog life shots, which have become popular recently.

It has become a trend for women who have pets to travel with them. As a result, there has been a significant increase in the number of photos taken and uploaded to social media. Watching this made me feel guilty because I couldn't provide my dog with the experiences that others seemed to be having. So, I decided to go on a trip to take some memorable photos. However, during the trip, I ended up spending much more than I had originally planned. My salary is not very high, and I had anticipated spending around 100,000 to 200,000 won a month when I adopted my pet. But the actual costs turned out to be much higher, leading to a financial deficit. In Seoul, it was already difficult to manage my basic living expenses, and my savings rate was not very high. Having a pet, especially a dog, made life even more challenging.

결국에는 거의 적자 재정이 근접하는, 모으는 돈이 없는 상황이 되어버렸어요. 여기에다가 산책도 시켜줘야 하고, 밥도 챙겨줘야 하고, 여러 문제가 계속해서 발생하면서 20대와 30대에 중요했던 시간 자원이 소비가 됩니다. 이러다 보니까 부업도 꿈꿀 수가 없죠. 강아지는 산책도 해줘야 하고, 맡길 때도 마땅하지 않다 보니까 부업이나 이런 걸 통해서 소득을 올릴 수가 없었어요. 결국에는 자신의 수준으로 감당하기 어렵다는 생각이 들자, 파양할까 하는 마음이 들기 시작했습니다. 여러 가지 마음이 복잡한 시기였는데, 제가 사례를 각색했습니다. 반려동물을 키우면서 형편이 나빠지는 케이스들을 통계를 조금 살펴보면, 최근에 한 온라인 쇼핑몰에서 유모차와 개모차 판매량을 분석한 자료가 있습니다.

The pet industry is experiencing a boom, as indicated by statistics from an online open market. According to the data, when considering the total sales of pet strollers and baby strollers combined, pet strollers account for 57 out of 100. This clearly shows that sales have surged, and while interpretations of the reasons may vary, it is evident that the pet industry is thriving. Additionally, there are noticeable increases in the sales of pet-related products, which are well-documented in various statistics. According to the Korea Tourism Organization, the proportion of pet owners in South Korea is 28.2% as of 2023, which is nearly close to 15 million people. Moreover, travel packages designed for pet owners, which were discussed in various contexts, are also gaining popularity.

There is a trend of traveling with pets and posting photos online. This is being uploaded on social media, and the view counts are also quite high. As a result, the number of travelers going on trips with their pets is on the rise. Among those who frequently travel with pets, women in their 20s and 30s represent a significant portion. 

In the examples I've adapted, I focused on women. According to a pet travel platform, women in their 20s and 30s accounted for 56.2% of the members. Consequently, in the airline and travel industries, there are new products being developed that target women in their 20s and 30s who travel with pets.

There is a culture of comparison, so a lot of consumption occurs through comparing oneself to others. For women in their 20s and 30s with a typical salary, it is quite difficult to bear the costs of various veterinary bills, pet daycare fees, and the costs of various pet foods. In the case of single households where there is no one to take care of the pets at home, the expenses are even higher. Owning a pet is, of course, a matter of choice, and there is no problem with that. However, if it starts to affect one's asset accumulation, I think it is necessary to consider it at least once. Regarding the costs of dog daycare, I found that there are options for daily care and hourly rates. For full-day care, the cost for large dogs ranges from about 40,000 to 60,000 won, while small dogs cost slightly less.

Large dogs are more prevalent. Therefore, in the case of small dogs, the lowest cost for one month, once a week, is 21,600 won, while for large dogs, it can be as high as 500,000 won. Of course, this varies by company, but it indicates that the costs are significant. The 2030 generation really needs to prepare for their future. As I mentioned earlier, this is the time when they should focus on accumulating assets. If they fail to save seed money during this period, starting to prepare for retirement in their 40s will be too late. Consequently, I believe it is necessary to restrain oneself from spending on things that could significantly impact their future retirement plans, even if it is something they desire. They need to consider whether it is appropriate to take on the responsibility of raising a pet while compromising their future. Of course, owning a pet can also involve various consumer psychology and the tendency to compare oneself with others.

It is possible to feel loneliness, but even so, I believe it is important to think about one's future. Once some assets are accumulated and certain situations are set, it might be more desirable to raise a pet. This is my personal opinion. Even if there are no major issues, for those who receive a regular salary, having a pet can be more burdensome than expected. I wanted to express that this is the reality. 

Additionally, there is a social policy aspect to consider. Ultimately, I think there is a high possibility that people who raise pets will demand tax benefits or government support for pet ownership. In fact, now that the recent elections are over, if we talk about the election pledges, the winning opposition party's pledge includes various forms of support for pets.

Using tax money to support pet ownership, such as by introducing a pet ownership tax for those who have pets, seems to me a high possibility that national taxes will be directed towards pets if not done properly. Personally, I tend to oppose this idea. I believe that people who do not own pets receive no benefits from support for pets at all, and it is a system where non-pet owners end up suffering. Moreover, it is a waste of resources that could be better used for people, especially when there are those who are in much more difficult situations. In the past, I have addressed the issue of pets, and as I mentioned in that earlier video, it is close to a luxury. This is not a necessity.

그런데 반드시 사람이 생존하는 데 필요한 의식주와 관련된 비용이 아닌 이상, 이거를 국가에서 지원하는 쪽으로 가는 게 맞는가 하는 생각이 듭니다. 저는 이런 생각을 해요. 내가 삶을 위해서 필요한 것과 내가 하고 싶거나 갖고 싶은 것은 구분하는 작업이 필요하다고 생각하고 있습니다. 그리고 갖고 싶은 것에 대해서는 반려 동물이 가장 대표적인데요, 이 갖고 싶은 것에 대해서는 항상 신중히 고민을 하고, 내가 정말로 이게 필요성이 있느냐, 그리고 필요성이 있다고 하더라도 이것을 내가 미래를 준비하면서 내가 감당할 수 있는 수준에서 하는 게 중요하다고 생각하고 있습니다. 시청해 주셔서 감사합니다.

돈에 대한 이야기입니다

(채널 및 유튜버 소개)

부유하지 않은(사실은 넉넉하지 않았던)

이혼 가정에서 자라나

현재는 변호사로 활동 중입니다.

제 채널은 구독자 여러분과 함께 더 나은 삶을 추구하고자 합니다. 

- 법률상담 문의(유료) 및 컨텐츠 제안 메일
syjpjk22@gmail.com

전화 상담 문의: 1661-5554

*학력
-고려대학교 방사선학과, 사학과 졸업
-중앙대학교 법학전문대학원(로스쿨)

*경력
-(전) 대한법률구조공단 법무관
-(전) 대법원 국선변호사
-(전) 수원지방 검찰청 안산지청 피해자보호 법무담당관
-(전) 안산, 시흥, 광명 범죄 피해자 심의위원
-(전) 삼척 가정폭력 상담소 자문위원
-(전) 월간 한국인 법률자문 고문, 칼럼기재
-(전) 한국 피해자지원협회 경기서부자문위원
-(현) 경기도 시흥교육지원청 징계위원
-(현) 시흥교육지원청 학교폭력대책심의위원회 소위원장
-(현) 안산시 단원구청  경계결정위원
-(현) 법률사무소 송하 대표 변호사


인생컨닝, 박종경 변호사

The pet market has surged, with dog strollers now outselling baby strollers.

A woman in her thirties, after adopting a puppy, faced unexpected expenses due to the dog's frequent illness and the lack of public health insurance for pets in Korea.

The pressure to keep up with other pet owners and the trend of luxury pet products added to her financial strain.

Women with pets are increasingly traveling with them, leading to a surge in social media photos.

The author's attempt to provide memorable experiences for their dog resulted in unexpected financial strain.

The pet industry is booming, with pet strollers' sales surpassing baby strollers, and the proportion of pet owners in South Korea reaching 28.

Traveling with pets and sharing photos on social media is a growing trend, particularly among women in their 20s and 30s, who make up 56.

This rise in pet travel has led to the development of new products in the airline and travel industries targeting this demographic.

However, the costs of veterinary bills, pet daycare, and food can be challenging for these women, especially those in single households, potentially impacting their asset accumulation.

Small dog care costs start at 21,600 won per month, while large dogs can go up to 500,000 won, indicating significant expenses.

The 2030 generation should prioritize saving for the future and consider the long-term impact of pet ownership on their retirement plans.

There is a growing demand for tax benefits and government support for pet owners, with recent election pledges promising various forms of assistance.

Using tax money to support pet ownership is seen as problematic, as it may divert national taxes and burden non-pet owners.

The author believes that resources should be better allocated to help people in difficult situations, rather than supporting what is considered a luxury.

They emphasize the importance of distinguishing between essential needs and personal desires, advocating for careful consideration and planning before taking on the responsibility of a pet.