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Pets make up an incredibly important part of many consumers’ lives. In fact, many pet owners spend a substantial amount of money on their “fur babies” reflecting this. Millennials make up a large portion of pet owners, and a recent study from LendingTree suggests that more millennials are going into debt for their pets.

Back in May, TD Ameritrade explored millennial spending habits in relation to their pets.

In a survey of 760 pet owners during the first three days of July 2019, a LendingTree study showed that 42% of millennial pet owners have been in pet-related debt, and nearly one in 10 are currently paying it off. Across all age groups, more than one-third (36%) have been in debt for a pet.

Of those surveyed, 62% factored their pet into a monthly budget, while 26% did not. And 13% of respondents said they don’t have a monthly budget at all.

About 59% of pet owners worry about animal-related expenses, and cat owners (66%) are slightly more likely to stress than dog owners (60%).

If a $1,000 pet-related emergency expense were to come up tomorrow, 37% would turn to a credit card, while 28% would use cash, 18% would pay with savings and 13% would take out a personal loan.

Three-quarters of pet owners lack pet insurance, and 39% have regretted not having a policy for their furry friend. As a group, millennials are more likely to have pet insurance: 34% of millennials have it, versus 18% of Gen Xers and 9% of baby boomers.