According to a new study by MarketWatch, dog ownership in the U.S. comes with a hefty price tag, with the average owner spending around $28,000 over their pet’s lifetime. This figure includes essential costs such as food, veterinary care, dog walking services, daycare, and insurance.

Pet owners in California face the highest expenses, shelling out a staggering $35,452 per dog over its lifetime—more than the cost of a Tesla Model 3 after taxes. Following closely behind are New York ($34,248), Massachusetts ($33,318), New Jersey ($32,947), and Washington ($32,894).

Conversely, Oklahoma is the least expensive state for dog owners, with a lifetime cost of $24,855—about 14% below the national average. Other budget-friendly states include Mississippi ($25,104), Indiana ($25,479), Nebraska ($25,662), and Louisiana ($25,760).

Breaking Down the Costs

When welcoming a new puppy, owners typically spend over $1,000 on initial care. This includes vaccinations ($199), spaying or neutering ($298), preventative medications for conditions like heartworm and fleas ($184), and general supplies ($356).

These expenses are just the beginning, as pet owners face ongoing costs such as food, toys, grooming, boarding, pet insurance, and regular vet checkups.

Many dog owners have reported financial strain due to these recurring expenses. A separate USA Today study revealed that 91% of pet owners have experienced financial stress from pet care costs, with 66% saying they’ve had to cut back on personal spending to provide for their dogs.

Additionally, more than a third of those surveyed were doing extra work or searching for new income opportunities to cover pet-related expenses.

Ways to Manage the Costs

Dr. Angela Beal, a veterinarian from Ohio, shared some cost-saving strategies with MarketWatch. She suggests grooming at home, seeking help from friends or family for boarding, and investing in pet insurance.

“Although policyholders pay a monthly premium, insurance can cover a large portion of unexpected veterinary bills, which can significantly lower overall costs,” Beal explained.

Inflation has also contributed to the rising cost of pet care, with the current rate at 3%. However, there’s a glimmer of hope, as the Bureau of Labor Statistics data indicates that pet care costs have slightly decreased over the past year.

While owning a dog can be a rewarding experience, potential pet owners need to be aware of the financial commitment involved, which can rival the cost of a new car in some states.

Read more Dogs News.