Any tips to 'make it work' financially

[bigboyrocky]

Don't very often come on here any more but I thought it would be a good place to ask for ideas!

I have recently just taken my horse round his first proper event - I bought him as a v tricky unbroken 3yo, 3.5 years ago and he's finally at a stage where eventing is a possibility. However, I just don't think I can afford it. Eventing is my absolute passion and all I've ever wanted to be able to do, but I just can't really see a way to have a good crack at it as it's just so so expensive nowadays!

I have the cheapest car/trailer/kit etc and don't really overindulge in anything outside of the horse, but with no land at home, financial support from family etc like I know a lot of people have, plus all the bills that come with adulting, it all just seems to mount up to more than seems possible.

Enough of the sob story... has anyone got any ideas to make it work, things that you maybe do to supplement the cost of 'horsing'?

Thanks in advance ?

 

[milliepops]

I couldn't make the sums work eventing and finances were 100% the reason i gave up i put myself in massive debt to keep going.

But before I gave up... i had a horse on hunting livery at my yard (owner paid YO standard DIY livery and paid me the services)
I had an evening job waitressing 4 nights a week
I did odd jobs for people anywhere I could, bit of teaching, some freelancing
Sold everything that wasn't nailed down (a lifelong habit when things get tight )
Had a side hustle that was craft-based so i made things on the non-waitressing evenings and sold on ebay or etsy
I was fairly exhausted but that kept me on the road for a while

Before I got married I did a fair bit of teaching which more or less paid my regular horse bills, I really miss that since moving, it was a great help.

 

[PurBee]

If you like computer work/ are internet savvy / and have some retail/marketing skills you can work from home or rather, from computer anywhere - if you set up a drop-shipping e-commerce store.

Pick whatever ‘market’ you have interest in and knowledge about. Clothes/fashion/body products etc/consumer electrics/horse gear/home decor/gardening etc etc... whatever market appeals to you to sell products - you then look for dropshippers of your stock. That way they keep in stock the items, you list them for sale on your website at rrp, you give them wholesale price, pocket the difference, they also ship out items for you.

Its a way to either be dribble income pocket money of 100 quid extra a week, or if you get into it, itll easily replace whatever your current salary is, depending on you marketing well /exposure online/ picking appealing products etc.

You get to control when you work, deal with orders as they come in via phone, so it offers the flexibility to fit around your current life while giving you extra money.

thought id throw the idea out there in case it appeals or if you hadnt already considered it.

 

[Michen]

What’s your job and can you get yourself on a career path? How old are you?

I am 29 and worked my arse off to be able to live in a lovely house, have horses, holidays etc all completely on my own without being reliant on another income to help. But I’ve had to take huge risks career wise along the way and I work in an industry where you are always at “risk” (sales). I also had times in the last 9 years where I simply couldn’t afford transport, competing etc. I had a horse on DIY livery and just had to do what I could.

For me it’s been worth it and I am doing a job I enjoy enough of to make it worth any stress it also brings, but it’s very much a career choice to pay for the things I want outside of work.

Might be that you have to wait until next career jump for more finances, which sucks I know, but is so worth it when you get there.

 

[teapot]

Do you want to go BE or just event? The unaffiliated market has taken off, with an increasing number run over BE courses, with better prize money, and a new champs to aim for.

 

[bigboyrocky]

Thanks all. It's gutting isn't it milliepops, sometimes I wonder if I'm mad, but I don't know what else I'd get up for in the morning if it wasn't the horse! He's so talented as well, if I can't afford to do it I'd rather sell him to someone who could go and have an awesome time on him... just bumbling about doesn't really do it for me. He's a kn*b if he's not challeneged/worked daily too ?

The drop shipping sounds interesting, I will do some reading, thanks PB!

Michen - I work for a big retailer in their head office in pricing (and some project work at the mo), plus a bit of yard work at the weekend. I'm 26 and have a decent salary vs age, and am hoping to be able to move 'up' further at some point within the company ? We're just buying our first house which as everyone knows is an expensive process!

Teapot - i won't look to affiliate until we're at a level that unaffiliated doesn't cater for us anymore e.g. Novice upwards, so probably won't have to worry about that until next year. We've got some really good unaffiliated events within a few hours of us which is great.

Thanks for all the suggestions so far, I shall certainly have a look at the drop shipping and work my ass off to become CEO ??

 

[Michen]

Thanks all. It's gutting isn't it milliepops, sometimes I wonder if I'm mad, but I don't know what else I'd get up for in the morning if it wasn't the horse! He's so talented as well, if I can't afford to do it I'd rather sell him to someone who could go and have an awesome time on him... just bumbling about doesn't really do it for me. He's a kn*b if he's not challeneged/worked daily too ?

The drop shipping sounds interesting, I will do some reading, thanks PB!

Michen - I work for a big retailer in their head office in pricing (and some project work at the mo), plus a bit of yard work at the weekend. I'm 26 and have a decent salary vs age, and am hoping to climb the ladder somewhat within the company ? We're just buying our first house which as everyone knows is an expensive process!

Teapot - i won't look to affiliate until we're at a level that unaffiliated doesn't cater for us anymore e.g. Novice upwards, so probably won't have to worry about that until next year. We've got some really good unaffiliated events within a few hours of us which is great.

Thanks for all the suggestions so far, I shall certainly have a look at the drop shipping and work my ass off to become CEO ??

it sounds like hon are already completely on the right track then! Congrats. You may just need to wait another year or so for the salary to catch up with pony expenditure.

You don’t need to be a CEO

 

[Squeak]

I'm in the same position as you where I bought a youngster to event who took a few years to get there and now is hopefully almost ready but the costs are eye watering.

I think I'm going to just try and find a comfortable level of events to do and then fill in the rest with SJ, Dressage and xc schooling if needed. The SJ and Dressage will still be helping to improve the horse and I'll still be able to get an eventing fix and have the events to aim for.

 

[LEC]

I can make it work financially but I have worked really hard to get into the position I am. I also effectively 'hack' my life to make it work.
I ride horses for free and that gives me free livery for my own. I was given 36 bales of haylage 2 years ago and 25 bales of straw and made it last and sold what I did not use. I buy wood pellets when discounted by the pallet as cheaper, I have breaks from eventing if finances are too tight and I organise a lot of clinics with top trainers to get free lessons for myself. I never put myself into debt for horses and make large efforts to save up especially in the winter months. Competing Novice and above is ridiculously expensive but luckily only have horses at 90 and 100 at the moment and one of those I don't pay for anything as paid by her owner. I tend not to event in August to give myself a reprieve from costs and because the ground is often too hard.

I volunteer for a fair amount as I actually get far more back than I give in time. I know a lot of people now and in the horse world if you give your time for free and work hard then people will help you. Also, buy well, buy once is my motto. I mostly buy excellent quality second hand kit. I am always looking for offers on horse feed with £2 off and vouchers etc as happy to switch brands if the constituents are broadly the same. I am always bargain hunting and try to buy out of season on coats, rugs etc

I get really fed up with people who seem to think eventing is a 'right' - nope, you can either afford it or you cannot. Its not an affordable sport. There is a reason its the sport with the largest demographic of AB wealth participating. I can just about make it work but only do unaff until they are ready to go and do Novice. Luckily never had an advanced horse as I just think it would be impossible as all runs weekdays, is ridiculous costs and then the additions like jumping 1.30m classes to keep your eye in. As with everything there has to be a balance and you need to decide how far you are willing to go to pursue it. I used to buy the odd project horse but that is impossible now with prices.

 

[palo1]

I am laughing at the very idea of eventing 'working' financially!! It is just an incredibly expensive sport and really probably out of most people's reach. BUT if you have a good income and not too many other responsibilities then it probably is possible if you are strategic in the way others have said; barter, borrow and buy well once!! I wish it was a bit more affordable, even at unaffiliated levels really but to manage 3 separate discliplines safely and with the horse's welfare as a priority, it is always going to be the most expensive of equestrian activities. I agree that it is not a 'right' and events have to cover their costs and ensure that events are run safely and efficiently. I miss the idea of eventing being 'possible' for me - it is absolutely out of my reach financially and in terms of time-investment but there are lots of other ways to enjoy aspects of the sport. I would find it very difficult if I had a talented young horse and knew that a decent level of eventing was possible though...Good luck in finding ways to make it work

 

[RachelFerd]

I bought a house in the south of England at the bottom of the property crash with a mortgage... Sold up 4 years later with the market much healthier, bought a house mortgage free in the north of England. That old mortgage money is now eventing money.

I have a reasonably serious job... They are trying to encourage me to go for a promotion, but I think that would tip the balance too far in terms of it negatively impacting my ability to pursue the eventing re. time, even if the extra money was helpful!

 

[Michen]

I bought a house in the south of England at the bottom of the property crash with a mortgage... Sold up 4 years later with the market much healthier, bought a house mortgage free in the north of England. That old mortgage money is now eventing money.

I have a reasonably serious job... They are trying to encourage me to go for a promotion, but I think that would tip the balance too far in terms of it negatively impacting my ability to pursue the eventing re. time, even if the extra money was helpful!

I have just turned down a substantial amount of money/pay rise for a new job with a new company, to take on a promotion with current company (but little financial gain!) instead for that very reason.

It’s so easy to carry on chasing the money, and I don’t regret the stress along the way to earn a comfortable living so that I can have all the things I wanted, but there is no point of you then never have time to enjoy then.

Completely crazy that eventing money equates to a mortgage but you are right!

 

[BallyRoanBaubles]

It's really blooming hard! I've never evented but when I was out competing unaff dressage/sj etc I would work out how much entry fees and fuel would cost me for the month and make sure I put that aside.

I worked a second job to get extra cash for horsey fun, and made cuts where I could. I swapped bedding to straw and bought a big bale that lasted me all winter as opposed to buying 1/2 bags of shavings per week.

When my old horse retired I sold my 3.5 ton and when I'm ready to buy transport again I'm going to go for a car and trailer which should hopefully be cheaper overall.

Currently 2/3rds of the way through a degree so pay rises/new job prospects are on the horizon but it sucks in the meantime!

 

[RachelFerd]

I have just turned down a substantial amount of money/pay rise for a new job with a new company, to take on a promotion with current company (but little financial gain!) instead for that very reason.

It’s so easy to carry on chasing the money, and I don’t regret the stress along the way to earn a comfortable living so that I can have all the things I wanted, but there is no point of you then never have time to enjoy then.

Completely crazy that eventing money equates to a mortgage but you are right!

Yep - and it is probably crazy that i'm spending the money on a hobby rather than choosing to buy a bigger house and gaming the property market again. But what is life but for living?!

 

[sportsmansB]

I'm lucky now at 40 with a good job that I don't have to worry about it as much - but at 26 there is no way I could have afforded it.
I work for my livery (I'm an accountant so I do their books and I help on the yard too as I enjoy that side of it) which helps massively and I don't pay for lessons.
But even just kit, entry fees, diesel, truck payments, etc all adds up.
I had a few weeks there where I did a 2 phase (SJ & XC) and combined training (dr & SJ) wit entry fees at £25 each and I have to say I really enojoyed it. If that is available locally, maybe one event per month and 2 of those types of things would be possible? Keeps your horse going and out to see things but at a quarter of the price.

 

[GG13]

How good is your showjumping?
With my good jumpers I affiliate as prize money is so much better and classes cheaper. I found I soon earnt back the membership costs and was then ‘in profit’.
I put the prize money in a separate account and used that for horsey outings.
If you pick the right classes, depending on the level, you could easily win an events entry fee in a class or 2!

 

[bigboyrocky]

How good is your showjumping?
With my good jumpers I affiliate as prize money is so much better and classes cheaper. I found I soon earnt back the membership costs and was then ‘in profit’.
I put the prize money in a separate account and used that for horsey outings.
If you pick the right classes, depending on the level, you could easily win an events entry fee in a class or 2!

Nearly very good but a bit rusty/inconsistent recently as he can be a spooky bugger so lockdowns haven't helped us get ring experience ? he's affiliated and we've jumped some NCs and 1.15s, however I'm not sure we're quite at a point to look at it as a money making experience yet ? we're BSing next Friday so I'll see what we can do haha!

 

[Hanno Verian]

Eventing is an expensive game that only gets more expensive the higher the level you get to, any single horse owner/rider anyone would struggle unless they were fortunate to attract a serious sponsor or have private means, the jump from that position to having a string of owners offering you quality rides rather than the rides that everyone else has turned down because they are downright dangerous is one that few people make without luck and/or serious financial backing.

 

[fredflop]

I’ve either had the time to go out eventing, or the money, but neither at the same time. Probably also doesn’t help that I’ve not really had suitable horses. (Needed more lessons and xc schooling than I could get them out to.)

tbh I’ve given up trying.

 

[Jango]

People have given really useful advice! I'm 32 and can now afford to event on top of everything else (I'm single and have my own mortgaged house) I wouldn't have afforded it at 26. The biggest thing you can do is increase your career earning potential imo, all my job decisions are made with the aim to earn more money without working more hours. I earn 20k more than I did at 25 ?. Move companies every 2-3 years, ideally obtain 2 job offers if you can and leverage a better salary from that.

If you take a second job (I used to waitress weddings and posh functions) make sure it's cash in hand. My friend used to feed all the horses on our yard at 6am before work. 50p a day. There were about 30 horses at the time. 75quid a week is great for that!

Also sometimes short time horse breaks are better in the longer term. E.g. I moved home to save for a house deposit and my horse at the time had just retired. Instead of buying another I had a year off, just part loaning a friend's horse for free. This allowed me to buy a doer upper house cheap and have time to do it up! Mortgage is way cheaper than rent (round here about £200 a month every month for 5 years).

I found my 20s tough for finances, 30s are often a lot easier! Good luck!

 

[Michen]

People have given really useful advice! I'm 32 and can now afford to event on top of everything else (I'm single and have my own mortgaged house) I wouldn't have afforded it at 26. The biggest thing you can do is increase your career earning potential imo, all my job decisions are made with the aim to earn more money without working more hours. I earn 20k more than I did at 25 ?. Move companies every 2-3 years, ideally obtain 2 job offers if you can and leverage a better salary from that.

If you take a second job (I used to waitress weddings and posh functions) make sure it's cash in hand. My friend used to feed all the horses on our yard at 6am before work. 50p a day. There were about 30 horses at the time. 75quid a week is great for that!

Also sometimes short time horse breaks are better in the longer term. E.g. I moved home to save for a house deposit and my horse at the time had just retired. Instead of buying another I had a year off, just part loaning a friend's horse for free. This allowed me to buy a doer upper house cheap and have time to do it up! Mortgage is way cheaper than rent (round here about £200 a month every month for 5 years).

I found my 20s tough for finances, 30s are often a lot easier! Good luck!

Completely agree with this post especially with regards to moving jobs and leveraging salary. Big salary jumps are almost impossible to achieve “in house” IME. And it was that move that finally allowed me to breathe, pay off a load of debt, waste a load of money on horses and vet bills and have some trips of a lifetime. So be prepared to move and don’t get too comfortable, but not so much that you look flaky on your CV. Don’t necessarily wait for the company to move you up, because even if they do, the salary increase isn’t likely to equate to what you could get elsewhere.

Your 20’s is the time to take risks for financial gain that can set you up for life. It’s really hard doing everything single, my god if I had an OH to pay half the bills I would have two more horses at least ??.

 

[milliepops]

And if you work in the public sector or other industry where there's no hope of that kind of salary increase irrespective of your personal qualities....

Give up and take up dressage ?‍

 

[Flyermc]

How much does it cost to event?

 

[Michen]

And if you work in the public sector or other industry where there's no hope of that kind of salary increase irrespective of your personal qualities....

Give up and take up dressage ?‍

Edited my post because after a day in the sun and a big glass of wine I seem to have forgotten how uncouth it is talking money!

With salary jumps does come the constant fear of being sacked though, if they realise you aren’t worth the investment ??

 

[TPO]

Gawd you lot are sensible! I spent my 20s well, spending!

Not getting into debt but I certainly disnt plan for the future. I do kick myself and wish I'd made different choices with hindsight but then I'd have missed out on certain other life stuff.

It's only now that I'm late 30s that I've got the fear that I'll have to work until I'm 89 and I can only afford to live for 3mths beyond then!

It's hard too because certain industries have ceilings. You can be the best nurse ever saving lives and still not earn a salary that covers living costs and horses/eventing.

As often discussed on here even jobs that are considered "good" like a vet aren't that well paid in the grand scheme of things.

It isnt always easy to take career risks either if you don't have a safety net of some sort be it family or OH etc.

Sorry OP no help really just dont feel bad for not having mountains of disposable cash.

Might be worth a look on something like Martin's Money website for money saving hints and tips. There might be a way to reduce outgoings and increase savings/available cash.

If you have your own place would a lodger be an option? The rental market is crazy right now so there are a lot of people looking for rooms.

 

[Michen]

Gawd you lot are sensible! I spent my 20s well, spending!

Not getting into debt but I certainly disnt plan for the future. I do kick myself and wish I'd made different choices with hindsight but then I'd have missed out on certain other life stuff.

It's only now that I'm late 30s that I've got the fear that I'll have to work until I'm 89 and I can only afford to live for 3mths beyond then!

It's hard too because certain industries have ceilings. You can be the best nurse ever saving lives and still not earn a salary that covers living costs and horses/eventing.

As often discussed on here even jobs that are considered "good" like a vet aren't that well paid in the grand scheme of things.

It isnt always easy to take career risks either if you don't have a safety net of some sort be it family or OH etc.

Sorry OP no help really just dont feel bad for not having mountains of disposable cash.

Might be worth a look on something like Martin's Money website for money saving hints and tips. There might be a way to reduce outgoings and increase savings/available cash.

If you have your own place would a lodger be an option? The rental market is crazy right now so there are a lot of people looking for rooms.

I don’t feel like I missed out on any life stuff at all tbh, I just mean if you are going to take risks and work hard and set yourself up then your twenties is often the time to do it. I still had a damn good time ?. I certainly didn’t save up for a house deposit throughout or anything like that, but just made sure I set myself up as much as I could career wise for when that sort of thing became necessary.

I think partly it depends if you went to uni as well I guess. I had four years of pure fun so was ready to “work” when I finished albiet with a gap year to doss around for a bit first..

 

[milliepops]

I'm not sure uni is that influential, I went, stressed for 3 years about being skint, and am still plugging away paying back the loans 20 years later although I'm in a so called graduate job the subject is irrelevant and I could have walked into this role without anything more than my a levels (tbh I'd probably be better at it because I wouldn't have forgotten so much maths ?)

 

[Michen]

I'm not sure uni is that influential, I went, stressed for 3 years about being skint, and am still plugging away paying back the loans 20 years later although I'm in a so called graduate job the subject is irrelevant and I could have walked into this role without anything more than my a levels (tbh I'd probably be better at it because I wouldn't have forgotten so much maths ?)

I meant in terms of having had the time without working (although I did work whilst I studied), not in terms of it getting a higher paid job etc, so that if theres stuff you want to to (travel etc) you can’t do it in the long summers or in gap year etc.

My degree was a complete waste of time in the context of what I do now ?. But it gave me the time to “grow up” a bit!

 

[SO1]

You have an OH how will they feel if you spend most of your spare time working and any spare cash on eventing? Will they have to sacrifice holidays, days out etc with you as you won't have the money if you spend it on eventing?

I am in a senior role as a Head of Department - I am a lot older than you at 48 but I work a lot more hours than I used to and the stress can be quite bad, making it hard to relax, I also on part livery and pay someone to exercise my horse. I am sadly single but it does means how I spend my salary is entirely my choice and any sacrifices are all mine. I don't own a property - London flats are very expensive, I could not live with family to save money and I decided for mental health reasons rather than staying in on my own all the time and cutting out all none essential spending for years and years to save up a huge amount of money for a deposit on a London flat I would live a bit and try tp enjoy life.

I expect I will be working for ever more and I probably won't have another horse if anything happens to my beloved pony who I have had for nearly 14 years now, he is 19 and I hope he will live long and prosper and he will still be with me when I am 60.

Sometimes I wonder if I did the right thing in my youth and worry about not having a property but having spent the last 18 months in lockdown and most of it on wfh on my own and I am so glad that I have my pony, as he has provided me with company and focus.

What I am saying is well paid jobs often come with stress and extra hours and if you have an OH then perhaps they won't see you very much as you will either be working or riding and if the work is stressful you may not feel relaxed and find it hard to unwind. You may end up spending your extra money on services as you may be expected to work late with no notice for example. For example I pay someone Tues/Thu/Friday to exercise my horse so I can work as late as my boss needs me to - some evenings I am still working at 10pm. I have explained to her that I need to finish work at 5 on Mon and Wed to ride. I had to work the Easter weekend at short notice. It would be very difficult to combine this job with a horse, OH and children but as there is just me and pony it is fine and I am incredibly grateful to have the extra money from this job.

Could a sharer work for you to get some more income in but without working more hours. If you did not have OH I would say go for it and try and get a really well paid job or take on pub job at the weekend evening to get more money but I think you need to have a discussion with them about the possible impact on your relationship of working more hours in addition to spending time with your horse. It maybe that they are totally cool with that as it gives them their own space or they may feel a bit neglected.

 

[palo1]

Hmm, this is interesting. I have never had a job that could realistically fund regular eventing as I work in the public sector (I am a disability specialist teacher) and have been paid sh!£e forever. I have also worked part time since having children (now teenagers) so I have even less money!! I love my job though and I found ways of eventing at a low level years ago. I really, really wanted that and put myself in debt doing it, trying to be 'everything' in terms of work and hobby. The reality was then that I couldn't afford a really good horse nor could I afford the level of facilities/training to improve my reasonable horse to match my aspirations. That was just down to money which drained down the sluice of funding vehicles and horse maintenance but failed to manage regular, good quality training and 'getting out and about' experiences. Competition days were very hard worked for and usually the cost of competition in a month absolutely precluded training in the same month...but I still had fun and got a great deal of satisfaction from what I could do.

Thankfully that horse was a talented jumper and dressage didn't used to be quite so influential; we could accept scraping through!! Now I have a home for the horses and a family there is no hope of money for eventing and no time realistically to take on additional paid work. But I guess eventing is possibly best suited to single younger people anyway; unless you are very wealthy and have a very independent family both the money and time needed to enjoy eventing could well impact negatively on a joint/family setup.

I have no clue how people (anyone really) affords to event these days as the expectation is to have discipline specific tack and training as well as far more complementary support for the horse in the form of physio etc. Standards of everything are higher and horse welfare is probably better (but more expensive). The schedule is somehow both more intense and demands more travel/staying away too, without even considering entry fees etc etc. It makes the kind of eventing I used to enjoy look positively primitive hahahahaha!! I am glad though that I secured a home though and eventually a home for my horses. We are all different but whilst I can live without eventing (though @Michen 's last run made me wonder about that...!) I don't want to live without horses. So I made the choices I felt were right for me and I have had wonderful horses and shared amazing times with them even though competing hasn't been especially affordable and still isn't really. It just makes what we can do even more satisfying in all honesty.

If I knew of a way to generate more funds for eventing I would certainly be sharing it (for a cost lol!!) Good luck though in making it work however you can. Where there is a will and all!!