Before you buy a horse...RANT

S

Shilasdair

Patting her thylacine
Joined
26 March 2007
Messages
23,686
Location
Daemon from Hades
Visit site
Further to a post where someone was 'saving up' and 'selling high value items' to finance the purchase of a horse, I'd like to point out that if you can't afford to easily BUY them in the first place, you will struggle to afford to KEEP them properly, without compromising welfare.
frown.gif


So if you are thinking of buying a horse...please, please, please can you draw up a budget (using Excel or on paper), calculating how much it will cost you to keep the horse per year?

Include; livery, hay, feed, supplements, farrier, dentist, worming, rugs, tack, osteopath or physio, veterinary care, cost of travel to and from yard, insurance, tools and equipment etc.

If you are not sure how much to budget - ASK US (we will give you average costs for your area).
grin.gif

Sorry for the rant.
S
grin.gif
 
very good point. Mum breeds ponies and she won't sell anything to someone who asks to pay in instalments or bits and pieces for exactly the reason you gave.

If they can't afford to buy they can't afford to keep.
 

Hmm, I agree to some excent. BUT, not many people have a few grand lying around ready to be spent on a horse, so will have to save, but their monthly income could very well be enough to keep the horse well.
I got a loan to buy a horse once, I earned enough money a month to keep the horse, but just didnt have the initial few grand to actually buy the horse.
 
I wish people here would think about stuff like that before buying a horse
frown.gif
They get one thinking only of livery (always full livery here) and then spend the rest of the time quibbling about shoeing, worming and vaccinations and those are just MINIMUM expenses (as, of course, you know)
However, in response to your post; it's not quite the same if you're struggling to get 1500 together (pound sign doesn't work) than if you're saving to buy yourself your dream grade A sjer or Grand Prix dressage horse.
 
How did you know you earned enough money each month to keep your horse, Moonwalker?
Answer - because you budgeted first, did all the calculations (and presumably included your loan repayments too).
So I am asking anyone who intends to buy a horse to make sure they can afford it for at least the first year, by budgeting.
Not rocket science.
tongue.gif

S
grin.gif
 
For that very reason, I'd be reluctant to sell on a horse that wasn't worth very much. A person that can afford to spend 5-7K on a competition horse is likely to be able to afford to look after them properly (not to mention the incentive to do so having spent so much on the nag in the first place) whereas someone who can only afford a 500 pound horse is going to struggle with the upkeep costs and much more likely to sell the horse on to an uncertain future once the money runs out. A generalization I know, we can't all afford 5K horses but for my own, I don't want to take that risk by selling them on cheaply.
 
I recently did the budget thing.....
shocked.gif
shocked.gif


.....when I had regained conciousness, I set up a seperate Horse account with its own card/chequebook to try and keep tabs on what I spend....

...don't know about you lot, but I will happily pay £62 quid every other month for new shoes for my 'oss.....but my 'normal' footwear is either flip-flops (summer) or trainers (rest of year)......thst not right really, is it?
confused.gif
 
Not everyone has a spare 5 grand sitting round. They may have savings.. but for other things. For instance, i would never be able to afford to BUY a 5 grand horse, but have no issues whatsoever with the costs of keeping a horse. Our monthly / annual income more than covers that, and more! But spare money goes into the house, so saving to buy a horse comes pretty low in the household priorities.
 
I think that could be slightly harsh. I am crap at saving money, so would find getting the initial money together difficult. I paid £1 for my boy and keep him at grass livery for £28 per month. I couldn't afford full livery or even part-livery round here but I'm happy eating beans on toast forever while he chows down on topspec. I am totally skint and earn peanuts but the horses are well cared for and happy. The only problem is that I don't have contingency money for accidents etc but luckily I have a deal with my parents that anything like that would be covered by them.
 
Have to agree, though I did take out a loan to buy Fleur, she wsa £5k and I was asked if I wanted to buy her out of the blue and I did, but did not have that amount immediately to hand.

Certainly on a horse under £1k if you can't afford it up front, then you are unlikely to be able to afford to keep it unless you have your own land and are 100% DIY and it is a hardy live out type.

Actually, the cheapest thing is often buying the buggers, then you add up over the year, livery, insurance, feed, and sods law happening vets fees that are not on the insurance.
 
Its a tricky one. I have always had at least one horse or pony, and fortunately my OH understood this was part of the deal, therefore horsey costs are just absorbed into the monthly household budget, due to a job loss then a pay drop I haven't been out competing but it doesnt mean I have neglected my horses, although they do all manage an extra week between pedicures!
I think the problem arises with *ducks and runs for cover* people who have decided to buy their own horse without having a large amount of practical knowledge or experience. This means that they are more reliant on the services and advice of professionals which is always going to cost.
I very much doubt there are many people who could keep horses on my budget, but that is down to experience, routine and determination.
 
I have a friend who is desperate to loan a horse she asked me for an idea of how much it would cost. We did the budget thing and that was all good she could afford it. I then told her to now add about 150-200 month extra for any probs that might arise ie vets bills, tack, the brand new rug you just cant live without, lessons, suppliments, insurance the list goes on. Well all of a sudden she decieded that taking riding lesson at a riding school would be best as she wouldnt be able to afford those brand new shoes in Next she had been looking at!!!!
 
[ QUOTE ]
I recently borrowed some money off my sister for a horse.

Does that make me irresponsible?
tongue.gif


[/ QUOTE ]

Yes very!
tongue.gif
 
I disagree with your comment that if your can't afford to buy a horse easily then you can't afford to keep it. As far as I can see the initial shelling out for a horse rquires quite a considerable amount more in a lump sum than the amount you will be spending every month on upkeep. So maybe selling off great aunty francy's painting / pearls / random rare china will help with the initial purchase and a salary will cover the monthly costs.

I think you make a a key point that no one should buy a horse unless thay have sat down, budgeted and worked out that can pay for everything involved in regular upkeep with a slight contingancy buffer in there. And yes, if the horse only costs £300 and they can't afford that then maybe you'd worry they couldn't afford upkeep but I'm talking about maybe the average £2000 ish horse.

I don't have a horse yet for the very reason that there is no way I could afford it!
 
[ QUOTE ]
[ QUOTE ]
I recently borrowed some money off my sister for a horse.

Does that make me irresponsible?
tongue.gif


[/ QUOTE ]

Yes very!
tongue.gif


[/ QUOTE ]

lol - does it make it worse if I mention that the reason I borrowed off her was so I did't have to spend my savings?...

She loves me.
tongue.gif
grin.gif
 
[ QUOTE ]
Further to a post where someone was 'saving up' and 'selling high value items' to finance the purchase of a horse..........

[/ QUOTE ]

Ask yourself how they got the high value item in the first place! It's obviously been bought in the past and people do have changes of heart - cats to dogs, boats to horses, holidays abroad to a house move to the coast etc.

For example, an inland cruiser worth £5,000 sold for a horse @ £1,000.... Therefore £4,000 available for saddles, bridles, rugs, vetting, feet etc.

I don't think this is as black and white as you are thinking. I'm sure people have the common sense and intelligence to think this through fully before commiting themselves to a 24/7 commitment.
 
I agree entirely with you Moonwalker, not everyone has a 'spare' £6000 lying around to buy a horse, however to be fiar ALOT of people's montly wage can easily cover the costs of keeping one (just say for example that it cost around £350 a month, maybe a bit less to keep a horse including livery) I recieved some money for my 21st birthday which i am adding to all the time until i can afford the horse i want and at the end of the day i am not worried about being able to afford to keep it as i know that when i leave uni in a couple of months, even if i only walk into a £12-13,000 a year job i could still afford to keep it. But then i live with my parents and pay no rent
tongue.gif

I don't really think it has anything to do with anyone else HOW someone pays for their horse whether it's selling things, getting a loan, borrowing money etc so long as they have a good enough monthly wage to cover the living costs.
 
i think in all fairness most people do it right , & ther is nothing wrong with having to save up or raise funds for the purchase of a horse

i have a well paid job & had to do this for my current horse , he costs much th same as any other i've had to keep( well aa bit more
smirk.gif
) but he cost twice as much as any other i've bought

i think for alot of people buying a horse is almost becoming like buying a car , & a large % of people need to finance that in some way ! & i have to admit that i would spend as much on a horse as a car

when i look at the money i have spent on my horse , transport , tack , equipment & not to mention our home which i bought specifically to have the horses at home , its hardly like its the sort of money many people just have in their current account!!
 
[ QUOTE ]
[ QUOTE ]
Further to a post where someone was 'saving up' and 'selling high value items' to finance the purchase of a horse..........

[/ QUOTE ]

Ask yourself how they got the high value item in the first place! It's obviously been bought in the past and people do have changes of heart - cats to dogs, boats to horses, holidays abroad to a house move to the coast etc.

For example, an inland cruiser worth £5,000 sold for a horse @ £1,000.... Therefore £4,000 available for saddles, bridles, rugs, vetting, feet etc.

I don't think this is as black and white as you are thinking. I'm sure people have the common sense and intelligence to think this through fully before commiting themselves to a 24/7 commitment.

[/ QUOTE ]

You see, Witchy, I don't think where a horse's keep is concerned, that you can have a 'change of heart' very easily, especially in the current economic climate, when you can't sell a horse quickly or perhaps at all.
frown.gif

So it is too easy to end up with a 'cheap' horse (possibly with expensive issues) that you can't afford to keep, can't afford to sell, and can't even give to a UK charity (as they are full).
I would love to think you are right; nobody would buy a living, breathing animal that they can't keep at least in the short term (a year, say).
But I think you are wrong, and a minority will do so.
frown.gif

S
grin.gif
 
Sorry dont agree to some extent. None of us ever have the outlay to buy them at a few K's, but I think you will find most keep horses on a shoestring, make huge sacrifices for day to day costs, and "find" the money somehow for vets etc.

If the only way I had my 5 was "comfortably affording it" I wouldnt have them.

We dont do holidays (holidays are going away to compete!!), but if we dont compete and no-one gets colic or some other problem that year, then we go away, it depends on how things go.

If I did a spreadsheet....which I did once, its too scary!!!

However, NEVER have they suffered!! They have the best of everything, always look and are well, get vet, shoes, worming the rest of it when they need it, and I pay cash for everything.

Sometimes they may have to have less shavings or I dont go competing if totally skint, but although I dont have the money to go and buy a 2k horse, there is no way I wouldnt find the money to keep them properly.

The majority of horseowners are always skint!!

However, I dont agree with having a horse if you cant look after it properly and I dont doubt their are a minority that would not be prepared to go without in order to ensure the welfare of their four legged friend, very small minority tho!!

Does the horse in my sig look poor for 28 years old because I dont have any savings???
 
I paid cash for my current horses, as none of them cost over 2K.

However, for my next one ( when current lad goes hoof up, god bless him, hope thats a long time off) I want to do more jumping, and seeing as daughter will be older I may actually have more time for myself rather than her, I shall expect to pay considerably more. If I haven't managed to save up in the meantime I shall get a loan...same as I would do for a car or whatever.

I have a good job and a great salary, so affording the monthly bills is no problem.....saving for stuff other than home improvements/kids stuff etc is not a priority when you need a new boiler.......but I am better at paying off a loan than actually saving up....plus you get what you want RIGHT NOW instead of having to wait....
 
Oh, will you all please READ my OP properly - the point is that it isn't BUYING the horse that is expensive, it's KEEPING them properly.
And so you should budget first.
grin.gif

All of you who are saying 'I borrowed to buy my horse but I look after it' are kind of missing the point.
tongue.gif

Thank you.
S
grin.gif
 
QR
grin.gif


I paid for my filly in instalments to my boss. Whilst I'm not well off, Kao has never suffered due to this, if she needs the vet, she gets the vet, or farrier etc
smile.gif

I was lucky before, I had free livery, hay and feed with my job. I left that job last month so I'm now having to pay livery, feed etc, but her level of care is still the same. I'm cutting down/stopping other stuff to enable me to keep her.
laugh.gif
 
By change of heart I meant being in a position to making a dream reality. I've ridden since I was 11 but have never been in a position to have a horse, but now as an adult I am and its what I want. It's not a whim by any means.

To have £300 a month spare is wonderful but in order to use that money on keeping a horse, you have to first buy a horse and if you don't have the money, you sell something to raise the capital to buy the horse to then use the £300 a month to look after said horse!!

I'm getting dizzy
laugh.gif


Anybody want to look at a bank statement just to check I could look after a horse
laugh.gif
 
[ QUOTE ]
Oh...see what you mean...like certain people on our yard who can't stretch to an extra bale of hay when the grass is crap?

[/ QUOTE ]

That's it.
grin.gif

It's easy to think that once you have the £1k or £5k or whatever saved or borrowed to buy your horse, that's it.
But that's just the beginning of a life of financial misery, and wearing flip flops rather than designer shoes as someone said.
grin.gif

S
grin.gif
 
You must log in or register to reply here.
Top