I went to a fun Rockaway New Year’s Eve house party, and at least 7 persons I was hoping to see stayed home because they had contracted COVID-19. This got me thinking about how this column started. Originally, I had sent weekly COVID-19 briefing emails to clients, family, advisors, and loved ones in March and April of 2020.
At the time, there was much fear of the unknown, so I felt the best way to help people was to compile and share critical COVID-19 information I was gleaning from the numerous news sources I had access to. Someone shared my briefings with The Wave Editor and Chief, Mark C. Healey, and “The Financial Wave” debuted on Friday, May 1st, 2020!
Covid-19 has coincided with pet ownership (particularly dogs) increasing over the past three decades. As per Forbes.com, as of 2023, 66% of USA households own pets. That is a 56% from 1988. In 2022, Americans spent $136.8 billion on their pets, up 10.68% from $23.6 billion in 2021. Americans spend an average of $735 per year on their dogs. What was once an obscure type of insurance, pet insurance policies have more than doubled from 2018 to 2021!
During this Covid-19 era, Americans are spending more time at home, which makes it more conducive to owning pets. Currently, there are 65.1 million households with dogs, 46.5 million households with cats, and 11.1 million households with freshwater fish across the nation. Approximately 42% of dog owners and 43% of cat owners report having acquired their pets from animal shelters or rescues.
It makes good sense to own a dog, especially during Covid-19 as there are many more benefits than companionship, such as:
- Safety and Security: Dogs are another layer of security as barking dogs can keep burglars at bay. Dogs have twice as good hearing as humans.
- More Exercise: Unless left alone in a yard outside, dogs need to be walked 2-3 times per day. Walking the dog can be good exercise and 30-45 minutes of walking per day can do wonders for one’s health.
- Less Chances for Depression: Dog companionship has been known to help those diagnosed with depression and help positive thinking.
- Less Stress: Numerous studies have shown that dog owners have lower stress levels than non-owners. Engaging with your dog can lower stress.
- Illness Detection: Dogs see the world through their keen sense of smell. Some dogs can sense the onset of epileptic seizures and or the presence of certain types of cancer.
- More Allergy Tolerance: Children raised in homes with pets such as dogs, have a reduced chance of having allergies. Growing up with a dog can boost immunity to allergies later in life.
- Boosted Brain Development: Dogs boost brain development in children, along with emotional growth and connection to others.
- Stronger Heart: studies have shown that getting a dog can lower your heart rate and male dog owners tend to have a reduced rate of heart disease.
- Lower Blood Pressure and Cholesterol: The Cleveland Heart Lab found that dog owners overall have lower blood pressure and cholesterol levels.
In summary, owning a pet, such as a dog, offers non-judgmental companionship, unconditional love, and a sense of purpose! All of these and other factors contribute to easing symptoms of depression, anxiety, and stress-related disorders. In addition, caring for a dog can provide a sense of routine and structure, which is particularly helpful for those struggling with mental health challenges.