The cost of caring for your pet is skyrocketing. One in five pet owners carries at least $2,000 in pet-related debt, according to a study from MetLife Pet Insurance.

For Jeanne Warsaw, who has two cats named Idris and Elba, a regular vet visit that used to cost $50 is now double that.

"If you do get one that does — at an early age develop issues like Elba has — which she has seizures, so she's epileptic, and she has some skin conditions, I would say that the first month that we adopted her we did spend close to $1,000," she said.

Warsaw said that, in addition to health care for her cats, food costs have increased.

"Food has gone up because today there's so many varieties of more healthy options," she said. "There's a lot of specific diet options too if your cat has kidney disease, thyroid, diabetes."

According to the company Rover, pet ownership costs over the past year have increased by up to 10% — with an estimated $32,000 for the lifetime care of a cat and $35,000 for a dog.

Paula Fasseas, the co-founder of Paws Chicago — a nonprofit animal welfare group that operates one of the largest no-kill animal shelters and veterinary clinics in the United States — worries the increased cost of having a pet is forcing more pet owners to surrender animals they can't afford.

"Ownership relinquishment at animal care and control has been going up 20% every year," she said.

So far this year, Paws Chicago has seen a 28% increase in pet relinquishments.

Fasseas attributes medical costs to the rising price of being a pet owner.

"The whole business model has changed and now it's big corporations buying these vet clinics out and it's just different pricing," she said.

Tips for cutting down on costs
But there are ways to cut down on pet-related expenses.

Fasseas suggests that pet owners who are struggling financially look online for resources.

"As far as vaccinations, make sure you're just doing the mandatory ones — you don't always have to do everything," she said. "So, we always have supplies available for people that need help."

She also said that for spaying or neutering, many community clinics, including Paws Chicago, will do it for free or at a low cost.

"When you adopt from a shelter, you're getting all the medical, the vaccinations, it's spayed and neutered," Fasseas said. "Right there you've saved thousands of dollars."

Preventative care, including dental cleanings, annual checkups and vaccines, can help avoid more costly procedures down the road. Another option to consider is pet insurance. However, it can be expensive and often comes with loopholes. Pre-existing conditions are generally not covered.

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