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How much to own a horse??

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  • Original Poster

    #21
    You couldn't get me to live in CA with a gun to my head and a cattle prod LOL!! But thanks App

    I am currently in the western part of WA but will be moving as soon as I can when the degree is finished. I have a list of preferences (Lexington, KY, Dallas or Houston, TX, Tallahassee or Jacksonville, FL-really anywhere in the South!) and all have a cost of living lower than here.

    Jo, while I applaud your amazing (I'm serious WOW!) budgeting skills, having to eke and stretch isn't what I'm down for LOL!!

    Starrunner, I am getting to the point where I will braid my own horse-and happily teach or mentor the ammies and youth to do their own I will continue to braid the next few years up here but I will want to enjoy the shows I pay for, not stay up all night braiding, KWIM?

    All in all, I realize that you can have a strict budget and horses but what I want is to have them for what they are-a money pit hobby. And I want to have fun and not worry about meeting other bills. I am pretty frugal about the other things like cable (I pay $50 per month for internet and basic cable with On Demand and free movie streaming).

    Comment


    • #22
      Please keep being involved in the AHA world!

      I am hoping to save up and working on possibly going to SHN next year. Will you be going?

      Hah! Too bad you aren't closer. I wish someone had the patience to teach me to braid!
      Semi Feral

      Comment

      • Original Poster

        #23
        Oh I will! I am excited that my job will allow me to take the time off to really support the club up here that does the most for Sport Horse. I sponsor, offer free braiding clinics, donate, etc., which is really fun. I am very proud that some of my clients compete successfully on the open H/J, USDF, and USEA circuits as well as AHA shows!

        I originally planned to have the braiding Tutorials done by fall but with school and life, I think having them done by Jan-Feb is better, right before show season with enough time to practice too They will be linked to the region 5 site.

        SHN is in VA in 2013, I wish I could go but in all honesty I really doubt it Fall semester will be in full swing and I am trying really hard to get scholarship(s) to pay for senior year for me. That means studying a lot and getting those As in all my classes.

        But! It will pay off later and I will be able to get my Ay-rab show pony or two I want a Tristtan baby for my Half Arab http://tristtan.com/

        I also like Mojave Kid for a purebred with perhaps a Tristtan mare, we'll see https://www.facebook.com/Mojave.Kid

        Comment


        • #24
          If I add up everything (holy hell!) it's $7,286 for the year -- board, supplements, vet, farrier (trim), and four lessons a month. And $500 of that for equipment and $816 for gas. And no showing. (But if I did, it would be about $200 for a one-day local/area show.)

          And twotrudoc, I ride/board at a barn not too far outside of Tallahassee. It's an English barn, but not necessarily a 'fancy' show barn, even though it hosts shows and trailers out to shows 2x a month. If you want a higher-end show barn, add about $4,000 to the above amount -- roughly twice a month what I pay.

          (And FYI -- don't forget that places with a lower standard of living routinely have lower salaries as well. I know. I checked. )
          The dude abides ...

          Comment


          • #25
            buying a place where you can keep your horses at home
            ....................................OR............ .......................
            how to turn a modest fortune in to debt in just 20 years
            more hay, less grain

            Comment


            • #26
              Sounds to me that you have a few years to go before you finish school and move and settle into your working, adult life.

              I would reconsider if owning a horse is what you want thru those years, or if, while finances are tight, your money is better spent with leasing a horse to ride and show, if those are your goals and keep saving some more than you can when owning outright.

              Later, once you have your ducks in a row with your life and finances, then you will have that much more experience to decide where you want to go with your horse life.
              The horse you think you want now may not even be what fits what you may want to do later.

              Right now, the economy seems to be heading for some imploding and horses, especially show/breeding type horses, will be some of the first to be affected, as the luxury they are.

              I know that the latest sales have been running about 1/4 down from last year.
              No one knows where we are going.
              Consider that a budget with today's figures maybe way off in the near future.

              Comment


              • #27
                I didn't have a horse through college, but within months of graduating I jumped right back into horse ownership. It was a long time ago, so the salary would not be appropriate to this discussion (today's equivalent would probably be about $30K or less) but my horse expenses were easily managed. I boarded at a very reasonable place, didn't buy all new stuff, didn't show, etc. I also kept other expenses very low, so I didn't go out to eat a lot and I drove a tiny car with manual transmission and no a/c. I didn't care because I couldn't imagine not having a horse. Looking back, I totally do NOT regret those choices.
                I don't think you can peg a minimum "salary" on this. I know people with nice horses who show somewhat regularly and they are not making big salaries, but they spend their money on the horse hobby - and live in a cramped apartment and drive the tiny car, and exchange work for lessons. There are hundreds of ways you can live frugally so that you can afford having a horse, especially if you don't show.

                Comment


                • #28
                  Originally posted by twotrudoc View Post

                  All in all, I realize that you can have a strict budget and horses but what I want is to have them for what they are-a money pit hobby. And I want to have fun and not worry about meeting other bills.
                  If I were to keep my show horses "money pit hobby" style, each horse would run me $100k a year. $3k per month full training, six days per week lessons. $50k for Florida. $20k for summer shows.

                  Since my mother told me to only spend 25% of your income on 'fun', and I am assuming in this universe I would also want to travel, go out for dinner, and wear cashmere, add another $50k to the pot.

                  Multiply by four and you have $600,000, x2 for taxes and you are at 1.2 million.
                  The Noodlehttp://tiny.cc/NGKmT&http://tiny.cc/gioSA
                  Jinxyhttp://tiny.cc/PIC798&http://tiny.cc/jinx364
                  Boy Wonderhttp://tiny.cc/G9290
                  The Hana is nuts! NUTS!!http://tinyurl.com/SOCRAZY

                  Comment


                  • #29
                    Originally posted by InstigatorKate View Post
                    I'm surprised the salary estimates seem really low to me. I make just south of 6 figures, and while I can definitely afford my horse at a full care barn, adding half training would be a stretch, and another horse would be near impossible. As a single woman, my monthly budget typically looks like this: I clear about $6k/month. $1000 goes directly to rent. $400 for vehicle payments which include my truck (for towing ponykins around) and car, $1200 in student loans (I'm paying ahead, have about $50k in loans between undergrad and grad), $300 utilities and phone, average about $1800 in other monthly expenses for clothes/food/vacation/entertainment/gas/insurance/etc. $450 for full board for one horse, and average about $100/month for vet/farrier/supplements over the year. That leaves me with about $700 extra/month which covers all other things. I have been able to save a couple thousand each year, but it disappears way more quickly than I ever thought possible. Paying off my student loans will be the quickest way to up my monthly expendable income. So for me, I think I'd need to make at least $85k/year to keep comfortably affording my horse.
                    your expenses sound extreme. what are you spending $1800 a month on??????
                    My mare wonders about all this fuss about birth control when she's only seen a handful of testicles in her entire life. Living with an intact male of my species, I feel differently! WAYSIDE

                    Comment

                    • Original Poster

                      #30
                      I think we need a big whoa and reminder of the topic

                      I was asking for people's personal opinions, experiences, and insights. I hope your question to Kate is well intentioned and not judgmental, Dieblaue. Also, she is not obligated to explain her spending habits to anyone as it is her income to do with as she sees fit.

                      Also, I'm 41, only a car for (small) debt, eons of wonderful experience in the work place and currently employed in the field of my degree (Accounting and Finance). I am hardly a naive 22 year old who needs to "sit down" and get their "ducks in a row" LOL! I earn enough to be able to afford horses now but I don't want to, I enjoy spending in other places now such as savings and college.

                      So, I do appreciate so much those of you who are sharing the amounts and figures they spend on their horses! Thank you!

                      Interesting, there is definitely a huge variety of opinions on what horse ownership is. While I will not be a keep at home person, I also don't see myself in a hands-off top $$$ barn either. I would put a new horse or green bean in full time training but generally do part time training. I love the fete and extravagant decorations of the AHA but usually prefer a more "eventer" type trainer; good hand, lots of knowledge, and very safe/workmanlike barn. I plan to show in my local AHA circuit, some H/J and most likely Regionals and Nationals.

                      I like reading about the different ideas and how we all do things.
                      Last edited by twotrudoc; Nov. 11, 2012, 10:30 AM. Reason: spelling

                      Comment


                      • #31
                        My horse's board is $550 where he is, 4 lessons a month is $170, his shoes are $135. Once a year teeth floating, if needed, about $200, and I'd budget $200 yearly for vaccines just in case as well as wormer.

                        All told that's about $10,000 a year, but that doesn't include any shows, clinics, or anything else. I can pretty much promise I spend more than that on new breeches, horse treats, increasing my saddle pad collection, etc.

                        ETA: I make about 50k-60k a year, but I don't have a car payment, student loans, just some (4k) credit card debt. If I had a $500 car payment like some of my friends, I'd probably not have the extra income to afford to own my own horse.
                        Last edited by Wholehearted; Nov. 11, 2012, 10:49 AM. Reason: added more info
                        “Thoroughbreds are the best. They’re lighter, quicker, and more intelligent.” -George Morris

                        Comment


                        • #32
                          For me, about 50K works just fine. However, I don't make anywhere close to that right now, and I still have a horse in full training and too many at home. But my expenses are low. My mortgage is less than most people's car payment, and property taxes in this area are next to nothing for agricultural property. My car is a point A to point B beater. We have a new to us truck with a small payment, but the farm equipment and horse trailer are paid off. There's not much that DH or I can't fix or build on our own. I have plenty of tack and equipment, so I really don't spend much in that department. We might go out to eat once a week- $35, tops. We seriously do not spend much money- I'd rather go to the dentist than go shopping for anything but groceries. There's really no good answer to the "how much money" question- it really depends on your location and what your other expenses are.

                          I can't quite figure out how leasing a horse is cheaper than buying, other than the initial cost. My trainer is looking for a lease situation for my little mare I showed last year- the lessee will be responsible for board and training, shoeing, minor vet, and showing costs. I just want the horse to have a job (and it would be nice if she not in my barn where I have to feed her and clean her stall), so no lease fee.

                          Comment


                          • #33
                            Originally posted by shakeytails View Post
                            For me, about 50K works just fine. However, I don't make anywhere close to that right now, and I still have a horse in full training and too many at home. But my expenses are low. My mortgage is less than most people's car payment, and property taxes in this area are next to nothing for agricultural property. My car is a point A to point B beater. We have a new to us truck with a small payment, but the farm equipment and horse trailer are paid off. There's not much that DH or I can't fix or build on our own. I have plenty of tack and equipment, so I really don't spend much in that department. We might go out to eat once a week- $35, tops. We seriously do not spend much money- I'd rather go to the dentist than go shopping for anything but groceries. There's really no good answer to the "how much money" question- it really depends on your location and what your other expenses are.

                            I can't quite figure out how leasing a horse is cheaper than buying, other than the initial cost. My trainer is looking for a lease situation for my little mare I showed last year- the lessee will be responsible for board and training, shoeing, minor vet, and showing costs. I just want the horse to have a job (and it would be nice if she not in my barn where I have to feed her and clean her stall), so no lease fee.
                            Leasing can be cheaper when normal horse things happen, like bigger vet bills and time off use.
                            Some here that want to do things with their horse can tell you that owning a horse that is laid up half or most of the time is not really what they were counting on spending their horse money on.

                            If you lease one, he is not your horse, but he also is not yours if he is not able to do what you specify you want to do in the lease.

                            Also, many can afford a more competitive horse by leasing that they could ever buy, train, compete with and maintain on their own penny.

                            There is a time for owning, a time for leasing, each one knows what will work best.

                            Comment

                            • Original Poster

                              #34
                              I may look into leasing first, we'll see. I am uncertain of AHAs rules for that but I can always look it up My out of shape fat-as-heck 41 year old body needs the ammy status LOLOL!!!

                              Comment


                              • #35
                                My board horse I just figured costs me $525 per month--board/shoer/2xyear vet pmt. No lessons/shows/tack/xtra vet bills are in that. Lessons $30, shows $200, I dont want to think abt injury.

                                I work an extra p.t. hob, the kids get the $ from my real job. Im in finance to.
                                “Management is doing things right; leadership is doing the right things.” Peter Drucker

                                Comment


                                • #36
                                  $300/month board for two horses (outdoor board with hay/grain/blanketing included). $50/month in supplements. $6-700/yearly in routine vet care including deworming. Occasional bodywork (massage/chiro/etc) say $300/yearly. I make do with what tack/blankets/etc. I have, no top brand names and I buy mostly used and not frequently, maybe $300 yearly. I do my own trimming so save a bit there.

                                  That's about $5500 yearly for two horses. I don't show or take regular lessons although I would like to get back into that eventually.

                                  I'm a full time student with a part time job. I have all the regular monthly expenses of car payment/insurance, rent, gas, food, phone, credit card, plus 2 dogs and a rabbit. I have a small savings for emergencies that I sneak money into when I can. I eat well and don't go without, but I certainly don't live extravagantly and don't spend when I don't need to. SO and I go out for supper maybe twice monthly, we would rather save any extra money to put towards buying our own place in a few years.

                                  I'm comfortable with the amount that I spend and have left over although sometimes it can get hairy when something unexpected comes up. The barn my horses are at is not fancy by any stretch, it's a private farm with a few boarders. No indoor arena, no heated barn. But, my horses are well cared for and the people are nice so for now it's a good place for me.

                                  Comment


                                  • #37
                                    I concur with your out of pocket show horse costs at 10-15K per year. At the end of the day whether or not you could make a horse purchase plus the aforementioned expenses work on a projected salary of $50-60K per annum has more to do with your non-horse related wants, needs and ability to handle risk than ours. Based on what I want out of life combined with my ability to handle risk that would be living far closer to the edge financially than I feel comfortable with. Even here in the low cost of living south, how and where you choose to live are going to determine whether or not horsekeeping at that level is feasible on your proposed salary.

                                    Comment


                                    • #38
                                      I have a horse and donkey back east, and three horses in Montana. They all live at home (pluses and minuses). Hay is (depending on the year) anywhere from $3200-3600 plus the extra $35/ton to have it stacked (weeeeell worth it!). Farrier about $1700 (give or take). And vets, with NO emergencies (as if), somewhere around $600 (would be cheaper if this were shared at a barn). BUT as for emergencies-puncture to the knee joint, eye removed, abcess, sooooo, a LOT more. And the barn we built (about $3000 for the "kit" and cement, NOT including our labor, and my husbands skidsteer), and fencing (even just upkeep-new posts, the labor to put them in, new electric fence) and the trailer (used 3H slant, great condition but we removed all rust and repainted, $2800) and grain (elders $23/Bag for senior Equine!!!!! $17/bag for Omelene, can't remember the bag prce for Minavite lite) and all the doodads-$36 for a stall guard, inherited a bunch of blankets,thankfully, but the donkey needed a new one-$94, extra bag of hay cubes for a mash, do add up.

                                      I so agree with whoever said that it really matters what one's priorities are. Owning a horse is not cheap for sure but it is very doable; it just means that OTHER priorities go lower on the list. I don't go on exotic vacations (but I know a lot of horse owners who do!), I buy my professional clothes at consignment shops, I do not have any high end electronics-old cell phone, old TV, one laptap. We eat out rarely (but also because of health issues easier to eat at home), our house is not glamorous. I drive an older (2005) truck. I did not want to wait until I was too old to enjoy my horses to get one, and was willing to make sacrifices to have them. I do not regret it for one single instant!!
                                      I would NOT be willing to make sacrifices for something I did not get so much pleasure out of, golf, for instance, nor would I recommend anyone make sacrifices for a horse if they did not really love it, or didn't have the money to make it so sacrifices were not necessary.

                                      Comment


                                      • #39
                                        Originally posted by twotrudoc View Post
                                        I may look into leasing first, we'll see. I am uncertain of AHAs rules for that but I can always look it up My out of shape fat-as-heck 41 year old body needs the ammy status LOLOL!!!

                                        When you lease a horse you can only show it in amateur to ride classes, not amateur owner to ride, under Arabian rules.

                                        Comment


                                        • #40
                                          Originally posted by mronthebit View Post
                                          I concur with your out of pocket show horse costs at 10-15K per year. At the end of the day whether or not you could make a horse purchase plus the aforementioned expenses work on a projected salary of $50-60K per annum has more to do with your non-horse related wants, needs and ability to handle risk than ours. Based on what I want out of life combined with my ability to handle risk that would be living far closer to the edge financially than I feel comfortable with. Even here in the low cost of living south, how and where you choose to live are going to determine whether or not horsekeeping at that level is feasible on your proposed salary.
                                          This is my view as well. It really depends on region, and secondly how you live outside of the barn/horse aspect. You can live well on x amount of money, or perceive yourself to be suffering and sacrificing to make things work.... depends on your perspective and priorities.

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