Pets and Well-Being: Why Pet Ownership Is Worth £70,000 in Life Satisfaction
The Emotional Value of Pets
Veterinarians have long witnessed the emotional bond between pets and their owners, but a recent study has now put a price tag on that connection. According to new research published in Social Indicators Research, pet ownership delivers well-being benefits equivalent to a £70,000 increase in annual income—underscoring what many in the veterinary field already believe: pets are good for people, and that’s a message worth sharing with pet parents.
How the Study Was Done
The study, titled “The Value of Pets: The Quantifiable Impact of Pets on Life Satisfaction,” uses data from the UK Household Longitudinal Survey to measure the impact of pet ownership—specifically dogs and cats—on self-reported life satisfaction. The authors, Dr. Adelina Gschwandtner and Dr. Michael Gmeiner, conclude that having a pet contributes significantly to subjective well-being. This effect remains strong even after adjusting for income, education, employment, and other life circumstances.
Putting a Price on Happiness
Using the “life satisfaction valuation” method—an established economic technique for converting well-being data into monetary terms—the researchers estimated that the emotional value of owning a pet rivals that of getting married or maintaining frequent contact with close friends. Specifically, they equated the happiness gains from pet ownership to a financial boost of up to £70,000 per year.
Causality and Credibility
Importantly, the study employed rigorous methodology to address the issue of causality. To test whether pets actually cause increased life satisfaction (rather than simply being owned by happier people), the researchers used an instrumental variable approach. Their chosen variable—whether someone is asked to watch over neighbors’ property—was found to predict pet ownership while being unrelated to overall life satisfaction, helping confirm a causal link between pets and well-being.
Personality Traits and Pet Types
The study also uncovered patterns in personality among pet owners. Dog owners, for example, were more likely to be emotionally stable and agreeable, while cat owners scored higher in openness. Pet owners overall were found to be more conscientious and extroverted compared to non-pet owners.
What This Means for Veterinarians
These findings have important implications for veterinarians. By sharing this kind of research with pet parents, clinics can reinforce the message that pets aren’t just companions—they’re part of a life-enhancing support system. For families considering adoption, or for those navigating difficult decisions about care, highlighting the proven mental health and happiness benefits of pet ownership can be a source of both reassurance and motivation.
Supporting the Human-Animal Bond
In a time when veterinary professionals are increasingly called upon to support the human-animal bond, this research offers compelling, data-driven support for what veterinarians already know intuitively: caring for pets isn’t just about keeping animals healthy—it’s also about keeping their humans thriving.
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