Tuesday, April 21, 2009
Category:
Consolidation
According to Sainsbury’s Finance, the currently challenging economic conditions are not only having an impact on us but on our pets too. It would seem that approximately 4.64 million pet cats and dogs are feeling the effects as owners curb their spending.
836,000 cat and dog owners surveyed admitted to not taking their pets for regular veterinary check ups. In addition, 247,000 have had to turn down veterinary treatment for their poorly pets, or have even had to go to the extreme of putting them to sleep.
It is expected that the number of pets suffering due to minimal, or a complete lack of, veterinary care is likely to escalate. This prediction comes as a result of the 1.91 million cat and dog owners that have put off taking out pet insurance, or have cancelled their existing pet insurance altogether.
Sainsbury's Pet Insurance Manager, Joanne Mallon, commented: "We understand that almost everyone is being affected by the current economic climate, however one way to make sure your beloved dog or cat doesn't suffer is to make sure that you have adequate insurance cover should they have an accident or fall ill.
"It's inevitable that many pet owners will look to cut back on expenditure, but it's worth noting that veterinary medicine has advanced greatly over the past five years and treatments have become a lot more costly. Good quality pet insurance is therefore essential and is really not something to cut back on."
In terms of the geographic divide, it would appear that cats and dogs in the West Midlands have been most susceptible to the impact of the recession. 36 percent of all pet owners in this region have been forced to alter their usual approach as a result of the recession. In contrast, pet owners in the region of East Anglia are thought to be least affected by the turbulent economy, with just 9 percent admitting to adopting a new approach to pet care.
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Homeowners who are struggling to care for their pets as a consequence of having multiple debts to repay, could consider taking out a secured loan to consolidate their existing debt. One of many options to consolidate existing debt, a secured loan could provide the funds needed to consolidate multiple debts including personal loans and hire purchase arrangements as well as credit cards. If opting for a secured loan to
consolidate debt, it should be remembered that consolidating your debt may increase the amount you pay back overall and extend the repayment periods of your debts.
