It can cost a lot of money to take care of your fur-ever friends.

Owning a pet costs owners at least $3,500 annually, a new study conducted by OnePoll on behalf of Lemonade has found.

The research asked 2,000 pet owners – half dog owners and half cat owners – if they have a monthly budget for their animals’ essential needs. About 52% do have one and have set it at an average cap of $308.

However, people spend roughly $276.40 on their fluffy friends on a monthly basis – which comes out to be $3,316.80 annually.

Ninety-eight percent of participants went way over their 30-day budget, and four in five confessed that they are fine if they go over the spending limit.

However, there are several causes for budget overspending, including pet care (37%), emergency vet visits (35%), upgrading their pet’s home situation and taking care of annual medical needs (both 33%).

Taking care of a man’s best friend is apparently more expensive than being a cat parent, according to the survey. About 54% of owners believe that canines are more costly due to their food, while vet checkups (52%), medicine (50%), grooming (46%) and cleaning products (38%) are also expensive. 

Of course, animal parents love to indulge in fun products for their hairy pals. Splurges such as all-natural pet food (38%), raw pet food (31%), a modified home (29%), pet-friendly baked goods and desserts (28%) and pet tech like smart collars (25%) are the major contenders.

“There’s no doubt that bringing a pet into your home can add immense unconditional love, but it’s important to understand they do come with a cost,” said Stephanie Liff, vet health expert at Lemonade. “Whether it’s a routine vet visit, food, toys, or an emergency surgery, pets have financial needs that can add up.”

Liff suggested that “being prepared and knowing your options … is crucial to have in place before there is an issue that becomes a heavy financial burden.”

But having pets can also be a burden, with four in 10 respondents explaining they have gone into debt because of their pets’ emergency needs.

More than half of people don’t have an insurance policy for their animals, as the cost to have it is way too high.

“Insurance doesn’t need to be intimidating, but it is important to do your research and find the best solution for your family,” Liff added. “Look for plans that are customizable to ensure you’re paying for what you really need, are easy to understand, and can get you the help you need when you need it.” 

The poll also indicated how many pet possessors don’t really understand and are unaware of exactly how pricey animal care can be.

Almost 41% of pet owners think that dental work for their pets costs between $101 and $500. But in reality, a routine dental cleaning, can cost somewhere between $500 and $1,000, and even up to $3,000 for more intense dentistry.

Some dog or cat surgeries can also easily ring up $5,000 or more, and a third of people initially think that cancer treatments can only be around $501 to $1,000.

Thirty-six percent of pet moms and dads also assume that flea treatments and vaccines can cost between $101 and $500. In reality, flea doses are around $15 per month and vaccines can charge up to $50 per vial.