Monday, May 4, 2009
Category:
Consolidation
According to a study conducted by MORE TH>N, the currently challenging economic conditions are not only adversely affecting our personal finances but our pets too.
It has been reported that 780,000 animals are facing euthanasia as a result of conscious decisions by their owners to avoid otherwise expensive veterinary bills.
This comes as surprising news within a nation regarded as animal lovers. A breakdown of the study results revealed that 69 percent of pet owners would not give up luxuries such as dining out, weekend breaks, or shopping sprees for the sake of their pets’ health. This is particularly prominent in London where an even greater 73 percent of owners are adamant that they would not change their lifestyles for this cause.
In contrast, it would seem that pet owners in Edinburgh are the most sentimental in the UK; therefore their pets may fair a little better. However, despite this, 64 percent would nevertheless refuse to make sacrifices in order to finance veterinary care. Unfortunately for animals nationwide, many owners are so intent on avoiding pricey veterinary bills that they are resorting to diagnosing their pets’ conditions themselves. Furthermore, owners are then administering human medication, which can have fatal consequences. Vets have warned that human painkillers such as Ibuprofen for example can cause kidney failure and stomach ulcers, ultimately leading to the death of unchecked canines. Worryingly, a staggering one in ten owners admitted that they would ‘play vet’, irrespective of the fact that their knowledge is so limited that they even struggle to recognise when their pet is unwell in the first place.
MORE TH>N point out that many owners would appear to be taking their pets’ health for granted, with 69 percent not having pet insurance. Also noted during the course of the study was the apparently far-reaching puzzlement and general annoyance surrounding veterinary costs. 49 percent of pet owners do not feel that charges are adequately explained before treatment commences. In addition, 62 percent revealed that they have absolutely no idea what they will be charged until the moment they are handed a hefty bill.
As the old adage goes ‘a dog is for life not just for Christmas’ and, as a dog costs owners an average of £10,039 (excluding impromptu veterinary visits) throughout the course of its life, the decision to purchase one should not be taken lightly. Head of Marketing for MORE TH>N, Peter Markey, commented: "Times are tough at the moment and the research shows that our pets are amongst the first to feel the bite. Financial difficulties could leave pet owners facing some tough decisions about their animals but that doesn't have to be the case. The best way to avoid nasty surprises is to make sure your animal is insured but currently over two thirds of the nations pets are without cover. Thanks to the credit crunch many of these pets are at risk of being put down if they need a surprise vet visit. The report highlights just what a big responsibility owning a pet is and how important it is to make provisions in case the worst should happen."
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Pet owners who are struggling to fund vets bills due to being over stretched by their current monthly outgoings, could consider taking out a secured loan. One of many options to consolidate existing debts, secured loans are available to homeowners with a mortgage and could be used to tie up existing personal debts that may be both confusing and expensive. By
consolidating these debts, borrowers are consequently left with just one, simple monthly repayment. Not only does this eliminate the juggling act associated with making several repayments each month but could also result in lower monthly outgoings. When consolidating debts it should be remembered however, that doing so may increase the amount you pay back overall and extend the repayment periods of your debts.
