Study finds pets are worth $90,000 a year in happiness, almost exactly the same as a spouse
Wait, does that mean getting a dog is the same as getting married?

A woman marries her dog.
It's not often we think of "life satisfaction" in terms of a number. But in a world where it would seem everything has a currency attached to it, having a pet is worth quite a lot.
Obviously, any animal lover will tell you that having a pet companion is priceless. But, according to a study published in the Social Indicators Research Journal (which surveyed 2,500 British households), researchers Michael W. Gmeiner and Adelina Gschwandtner surmised that having a pet companion actually does have a quantitative financial value.
In an article for CNN, author Issy Ronald explains that this study "concludes that having an animal companion is worth up to £70,000 ($90,000) a year in life satisfaction—a metric economists use to quantify the 'implicit price' of otherwise intangible things."
What's even more interesting? The study finds that dollar (pound) amount is relatively the same as the financial "worth" of having a spouse or "meeting up with friends and relatives regularly."
But how? The researchers explain, "Economists have relatively recently developed ‘the life satisfaction approach’ to assess the size of the effect of different factors on life satisfaction. The process involves using simple regression analysis to determine the implicit price of different factors or occurrences in life." Citing many different studies, they determine how to put a monetary value on what otherwise might seem immeasurable.
Now let's bust out some math. Using the equation U = V (P,Y,A), they explain: "U here is utility, P is the price of the marketable good (such as housing), Y is the numeraire (income), and A is the level of the good or amenity (e.g., scenery, or pet companionship in our case)." The equations get much longer and more complicated than that. (And unless you just emerged from a calculus class and/or have had loads of coffee this morning, it might be a bit much.)
A cat poses for the camera. Photo by little plant on Unsplash
But the basic idea is: the equation determines the actual value that a pet brings to your overall life. For example, having a dog might get you on neighborhood walks, which is good exercise and could help you make friends. This adds value to your life, which translates into theoretical income.
This idea has inspired fabulous memes on social media. On Instagram alone, the comments are sweet—and some a little cutting for the married folks. One commenter writes, "To be honest, it’s probably better. Dogs love unconditionally, are super loyal, match your energy, and give some great comedic relief."
Another goes even further to say, "The love I felt for my dog was pure. I've never felt that level of moment-by-moment joy with anyone. I love my hubby, but my pup made me literally feel like I met an angel full of love and light that wanted to live with me."
One person joked that comparing the worth of a pet to a spouse is impossible: "That’s an insult to all dogs."
The cat owners were relatively quiet on the matter on social media, but knowing many feline lovers, it's assured that most of them feel the same way.