You don’t have to tell pet owners furry friends improve your well-being, but did you know their company could boost your well-being as much as a spouse? Or regularly meeting with friends and relatives? Even money?
A new study published in the journal Social Indicators Research claims this is the case.
Using a metric economists use to quantify the “implicit price” of intangible things, researchers found an animal companion is worth $90,000 per year in life satisfaction.
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The figure is roughly the same as a theoretical boost in income you could get from being married or spending time with loved ones.
It’s well known that pets have physical health benefits for their owners, but overall well-being is something that is less understood.
The study noted that the positive effects of pets, however, "could be offset by risks and problems associated with them such as allergies, parasites, physical injuries, infections, financial stress and emotional distress caused by pets."
