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  1. #1
    Join Date
    Jul. 12, 2010
    Posts
    269

    Default *Spin Off* Emergency Funds

    This was inspired by the thread re. what you do for a living and what you can afford to do with horses.

    I'm curious what sort of financial cushion other horse owners maintain. The general advice for non-horse owners seems to be keeping either 6 or 12 months worth of expenses on hand for emergencies. What do you do? Do you account for medical emergencies? Insurance deductibles? Board?

    Personally, I go with 6 mos of board + shoes and have a Plan B barn where I could move and cut board in half if I needed to.



  2. #2
    Join Date
    Jan. 8, 2013
    Posts
    166

    Default

    Emergency fund does not account for medical emergencies specifically in my book. It is a dollar amount that is maintained in a bank account for whatever emergency may come up (whether it be medical emergency, loss of job, unexpected car problem, etc).

    I calculate it as a minimum of 6 months of expenses (including horse and all other animal routine expenses).


    1 members found this post helpful.

  3. #3
    Join Date
    Jul. 31, 2007
    Posts
    14,508

    Default

    You mean an emergency fund dedicated to the horse?

    I so include the horse costs in my SHTF fund.

    I don't usually insure my horses but rather have a decision *pre-made* about whether or not I'd do big things like colic surgery or a week in ICU at a clinic.

    I don't ever want to be one of those people sobbing in a vet's office about "save him!" and "but I don't have the money right now!" I'd either want to know I had the dough, or want to know that I could live with myself if I didn't spend big on the horse.
    The armchair saddler
    Politically Pro-Cat



  4. #4
    Join Date
    Apr. 8, 2005
    Location
    Kentucky
    Posts
    4,258

    Default

    What EnjoyTheRide said.

    A job loss is devastating- I'm still in the recovery phase almost 5 years later. I chose to go back to school, so 2 years without any real income. Fortunately I never had to touch the 401K, but I no longer have the cushion I used to.

    As far as horse emergencies, well, there better not be anything major. I have my own farm so Dr. Green is always available at minimal cost. I will NOT do a colic surgery or anything like it and don't feel the least bit guilty about it. I think of my horses more as livestock than pets. If the cost of treatment exceeds value of animal or does not have a near 100% positive prognosis or will cause undue stress on the animal I have no objections to euthanasia.



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