Buying first horse

[equilife02]

It’s looking promising that I’ll have a job within the next 3months (I have something that could be promising to start mid Feb) anyway, my question is how many months of saving do you think is necessary before starting to view horses?
I have about £3k saved already and am hoping to get a job which pays £150 per week. I don’t want to rush into it but also, Im just so eager to finally get my first pony ? Thanks ?

 

[Winters100]

I think it depends upon your circumstances - do you have family support to help keep the pony? I am assuming that this is a part time job and that you also have other living expenses, so you need to be very realistic about the commitment that you are taking on. There is a thread in The Tack Room forum about the cost of keeping a horse - maybe take a look at that, but always remember that there can be big unforeseen expenses which you may need to be able to fund.

 

[equilife02]

I think it depends upon your circumstances - do you have family support to help keep the pony? I am assuming that this is a part time job and that you also have other living expenses, so you need to be very realistic about the commitment that you are taking on. There is a thread in The Tack Room forum about the cost of keeping a horse - maybe take a look at that, but always remember that there can be big unforeseen expenses which you may need to be able to fund.

It will most likely to be an apprenticeship or part time job. I will have full financial responsibility but if something urgent happened to pop up my parents would help me out. I don’t really have any thing else that contributes to my spending as I’m yet to pass my driving test, but once I do pass I’ll be sharing my mums car, just topping up petrol and my driving insurance. I’ll check the thread out, thanks!

 

[Irishcob6]

The biggest expense wont be the purchase it will be the monthly costs of livery, feed, farrier, insurance, vet, tack etc which £150 per week will not cover - why dont you try a part loan which will give you an idea of all the cost associated with ownership without you having to cover all the expenses. It will also give you an idea of time commitments especially with a job.

 

[equilife02]

The biggest expense wont be the purchase it will be the monthly costs of livery, feed, farrier, insurance, vet, tack etc which £150 per week will not cover - why dont you try a part loan which will give you an idea of all the cost associated with ownership without you having to cover all the expenses. It will also give you an idea of time commitments especially with a job.

I already have a part loan He’s an Irish sports horse and I’m getting ready to move on to getting my own, which is why I made this post. I think his owner said he costs about £70-80 per week so I would be able to afford that, it comes out to about £320 per month which gives just under £300 left for any extras, which would cover insurance and farrier. Then depending on how long I save before looking for a horse (horse itself I would budget to around £4000) and then I’d like to save a further £3000 to cover emergency vet costs..

 

[Dyllymoo]

If you have a search on here you will find lots of posts about costs and how much horses cost. They CAN cost as little as £70 a week but that is really dependant on livery cost, shoeing, feed (including hay) etc. etc.

I do genuinely think you should try and get a steadier job before looking to get your own, but also because it can be the time aspect of having a job and fitting a horse in full time. It obviously can be done, loads of people (me included) do it, but to go from a part loan and then go to owning and having a job could be quite the test.

Horse budget looks ok, but again depends on what kind of horse you are looking for really.

Its a great idea to spend the next year or more saving and carrying on with your part loan. Maybe see if you can up the days whilst saving to help give you an idea of how your time will work.

Also maybe speak to some livery yards and get an idea of costs and help they can offer and start doing your own costings. I did this before I got my first, called up about hay and bedding and vaccinations and farrier costs so that I had a better idea of costs rather than someone's guestimate

 

[mini_b]

The idea of what they CAN cost is worlds apart from what they DO

experienced owners can often cut corners and save as they know which ones to cut.
first few months of your own horse you always need SOMETHING and it ends up being way over your current budget

You also don’t want to be up the proverbial creek if something big and expensive came up (vet bill, your horse broke something or someone)

Honestly wait for a steady income, you might make it more stressful than it needs to be and you’re meant to enjoy your hobby! If your loan is working out, enjoy him and use this Opportunity to save while you’re still at home.

Sorry for sounding like an old fart x

 

[hellfire]

Once you have the horse you’ll be very lucky to save money ?. As fast as I save for something ID really like or I need it gets swallowed up on something horsey!! I echo others and honestly say wait a while else you may be financially stretched and that causes constant worries and stress. Talking from personal experience and I don’t have livery costs to worry about. If I did I don’t think, in fact I know I couldn’t keep all of mine.

 

[Ellzbellz97]

I would honestly wait a while, or until you're getting a steadier income. Horses are very expensive, you'll also need to pay for things like shoes, horse insurance feed etc, Stick with the part loan for now and enjoy it I would xx

 

[twiggy2]

The biggest expense wont be the purchase it will be the monthly costs of livery, feed, farrier, insurance, vet, tack etc which £150 per week will not cover - why dont you try a part loan which will give you an idea of all the cost associated with ownership without you having to cover all the expenses. It will also give you an idea of time commitments especially with a job.

I have never spent £150 per week on horses even when I had 3, I would save for big/luxury items, most of what you need can be bought second hand and in reality not much is needed but much is wanted-these are 2 very different things.
OP if you really are ready for the 7 days a week after a day at work, in all weather etc etc, then go for it.
Save for at least 6 months, remember the money you spend could be saved for a mortgage, car of your own, nice holidays etc etc and you could loan 4 days a week including weekends and have time and money to do other stuff if you did not own your own. You also get to have lie ins, nights out too.
Horses are a huge tie especially when you are young and it can be hard to part with them if your life goes in a different direction.

 

[Sail_away]

Horses can be cheap but it’s unlikely... put it this way, I’m doing my a levels so my mum pays for my horses livery, feed, bedding and insurance. I pay vet bills, farrier, physio and saddler plus non-essentials. I have a Sunday job so earn 240 a month, all of that goes to his upkeep. I also work during the holidays, that’s about 1k throughout the year. That also goes towards him. That’s well over 3k on ‘extras’.
He’s also never had any large vet bills, so it could be worse!
So your budget would not cover the expense of keeping my horse, for example. If you don’t want to compete, and don’t mind cheaper tack (last year’s holiday wages all went towards a fairfax dressage saddle) then you’ll just about be alright. If you do want to compete, you’ll need to wait until you’ve got more. Transport is a huge expense, it can be up to 100 there and back if you need a driver.
Personally I think you would be best to wait until you have some really considerable savings, as in 3-5k, and then take a loan on. If it’s too expensive, you have savings to draw from, and can return the horse if needed - you will need to give notice of course.

 

[equilife02]

I have never spent £150 per week on horses even when I had 3, I would save for big/luxury items, most of what you need can be bought second hand and in reality not much is needed but much is wanted-these are 2 very different things.
OP if you really are ready for the 7 days a week after a day at work, in all weather etc etc, then go for it.
Save for at least 6 months, remember the money you spend could be saved for a mortgage, car of your own, nice holidays etc etc and you could loan 4 days a week including weekends and have time and money to do other stuff if you did not own your own. You also get to have lie ins, nights out too.
Horses are a huge tie especially when you are young and it can be hard to part with them if your life goes in a different direction.

Thanks. Yeah, at the beginning of my loan I hated going when it was raining but now I just want to go, like hail, snow, darkness. I just enjoy being at the yard. I don’t have friends to go out with ? I honestly think my life (besides work) will be spent at the yard and I can’t wait lol

 

[equilife02]

Horses can be cheap but it’s unlikely... put it this way, I’m doing my a levels so my mum pays for my horses livery, feed, bedding and insurance. I pay vet bills, farrier, physio and saddler plus non-essentials. I have a Sunday job so earn 240 a month, all of that goes to his upkeep. I also work during the holidays, that’s about 1k throughout the year. That also goes towards him. That’s well over 3k on ‘extras’.
He’s also never had any large vet bills, so it could be worse!
So your budget would not cover the expense of keeping my horse, for example. If you don’t want to compete, and don’t mind cheaper tack (last year’s holiday wages all went towards a fairfax dressage saddle) then you’ll just about be alright. If you do want to compete, you’ll need to wait until you’ve got more. Transport is a huge expense, it can be up to 100 there and back if you need a driver.
Personally I think you would be best to wait until you have some really considerable savings, as in 3-5k, and then take a loan on. If it’s too expensive, you have savings to draw from, and can return the horse if needed - you will need to give notice of course.

I’ll be getting around £600 per month and saving for a good few months before hand (I currently have £3.5k saved so would like to double it). I’m a hobby rider so would be doing basic schooling, hacking, occasional local shows, nothing too adventurous.

 

[splashgirl45]

if this is going to be your first horse you will need something that is safe and has already done a bit of everything and you will need to have a good budget, i am currently looking for a safe allrounder about 15hands for a friend who wants to do riding club staff and needs to be able to hack out safely on her own and in any area that we can get to within a couple of hours they can be up to £6000. i would save for a bit longer so you have a good budget as you will need saddle (and pay someone to fit it properly,), rugs, headcollar etc and ideally have some money spare for emergencies...

 

[Winters100]

Thanks. Yeah, at the beginning of my loan I hated going when it was raining but now I just want to go, like hail, snow, darkness. I just enjoy being at the yard. I don’t have friends to go out with ? I honestly think my life (besides work) will be spent at the yard and I can’t wait lol

It is wonderful that you feel like that - and I am sure that you will be a great owner - but are you really sure that the time is right? What if you lose your job or if the apprentice role ands and they don't keep you on? You then would need a lot of savings in this case. Are your family willing / able to pay for the horse if you cannot do so? I think that a loan sounds ideal for you now - what is it that you don't like about that? I really think you sound as if you will one day have a horse, but remember that having a horse when you are not worrying about money is a lot more fun. You need to think about how it will be when you are at work. Will you be able to pay for care or will you have to go to the yeard before and after work? What about if the horse needs box rest - will you be able to be there enough to walk it by hand. And what if there is restricted turnout at your yard and you have to move the horse twice a day? Whatever you do think carefully about the worst case scenarios, because a loan can be handed back, but if you have an own horse who gets some serious health problem you are stuck. I genuinely wish you all the luck in the worls, because you sound as if you deserve to have a horse, but please do consider whether the timing is right.

 

[SO1]

I would wait until you finish your apprenticeship and have a permanent full time job, not just for financial reasons but also so you better understand your new routine and what hours you will need to work and how tired you will be after a full day at work.

You might not have any friends to go out with now but you may meet people at your apprenticeship and feel like socialising a bit. It sounds like you are also dependent on your family for free accommodation so you are not really independent yet.

 

[equilife02]

if this is going to be your first horse you will need something that is safe and has already done a bit of everything and you will need to have a good budget, i am currently looking for a safe allrounder about 15hands for a friend who wants to do riding club staff and needs to be able to hack out safely on her own and in any area that we can get to within a couple of hours they can be up to £6000. i would save for a bit longer so you have a good budget as you will need saddle (and pay someone to fit it properly,), rugs, headcollar etc and ideally have some money spare for emergencies...

I’m budgeting around £4000, I don’t mind a horse that has all the training but needs bringing back to work. I’ve been looking at ads and seen so many horses that would suite me for all different prices, rarely over £4K. I plan to double my savings (£3.5k) before looking for a horse

 

[equilife02]

It is wonderful that you feel like that - and I am sure that you will be a great owner - but are you really sure that the time is right? What if you lose your job or if the apprentice role ands and they don't keep you on? You then would need a lot of savings in this case. Are your family willing / able to pay for the horse if you cannot do so? I think that a loan sounds ideal for you now - what is it that you don't like about that? I really think you sound as if you will one day have a horse, but remember that having a horse when you are not worrying about money is a lot more fun. You need to think about how it will be when you are at work. Will you be able to pay for care or will you have to go to the yeard before and after work? What about if the horse needs box rest - will you be able to be there enough to walk it by hand. And what if there is restricted turnout at your yard and you have to move the horse twice a day? Whatever you do think carefully about the worst case scenarios, because a loan can be handed back, but if you have an own horse who gets some serious health problem you are stuck. I genuinely wish you all the luck in the worls, because you sound as if you deserve to have a horse, but please do consider whether the timing is right.

If I end up with an apprenticeship, after 6months or so I should have a good idea of whether I’ll be kept on working at the same company. If I feel it will be unstable, I’ll wait of course. My parents don’t have tonnes of money to help but if the utter most tragic thing happened they would definitely help me. I would 100% consider full loan or lwvtb, but with my part loan it’s just the little things and the different kind of responsibility. For example, my loan can hack out fine, he gets a little strong but nothing dangerous yet I don’t feel I can hack him alone because if something happens, he is not mine. If you get me. I’m also not aloud to ride him in rain because of him having his rug back on and like I can’t have my friend come and ride him etc. It’s like when you look after someone else’s dog and you can’t work out what you can and can’t do ?

 

[splashgirl45]

which area are you in? that will make a big difference in prices. i am on the suffolk/essex border and the ones that look suitable and are lower prices are either in the north or the very south of the country . to travel over 3 hours to view is fine if the ad is true but so many of them are not so we are looking ideally for max 2 and a half hours travel, that is still 5 hours plus an hour trying the horse is a long day if it is not suitable,

 

[Winters100]

If I end up with an apprenticeship, after 6months or so I should have a good idea of whether I’ll be kept on working at the same company.

I so feel for you, because you are starting out your working life in an economy which is damaged by a major economic upheaval. i am afraid that you will not know in 6 months if your job is stable, because many jobs will be lost due to Brexit. It may appear to you to be ok, your managers may well be delighted with you, but ultimately there is no reputable economist who does not agree that job losses are part of the exit from the EU. Many people who have worked for years in their positions will become unemployed. Seriously now is not the time to be making serious financial commitments

 

[equilife02]

That’s the same with any job though. And you cannot know for certain what is going to happen. You could be in a job for 5+years and be made redundant unexpectedly (happened to my sister, she didn’t even get a warning). Obviously it all depends on what job I manage to get, as a lot of employers look at my grades and pass on me. I just get exam anxiety which sucks. But yeah, 6months from now, there may be absolutely no stable jobs and if that happens, I will not get a horse. Yet at the same time (doubtful) there may be many stable jobs, you just can’t know and there’s not point in living life constantly thinking about that. All I can do is prepare the best I can, save save save and see what happens. It may take 6months, it may take 2years ?‍

 

[equilife02]

which area are you in? that will make a big difference in prices. i am on the suffolk/essex border and the ones that look suitable and are lower prices are either in the north or the very south of the country . to travel over 3 hours to view is fine if the ad is true but so many of them are not so we are looking ideally for max 2 and a half hours travel, that is still 5 hours plus an hour trying the horse is a long day if it is not suitable,

I’m on the Nottinghamshire, Derbyshire boarder. There’s quite a lot of horses within an hour or two of me, a lot of projects and few really genuine low competitors and happy hackers

 

[splashgirl45]

you are in a better area than me, so may be able to pick up a nice horse for less. fingers crossed for you..

 

[equilife02]

you are in a better area than me, so may be able to pick up a nice horse for less. fingers crossed for you..

Thank you

 

[rainni_day]

There's so many if's, and's and buts on here, which are applicable to us all - how many of us would truly have bought our own horse had we known the truth? £600 a month should be fine, and if it's not and there is an emergency that you can't afford, do what we would all do if we got in a muddle and get help from family. The girl is clearly thinking about it and not just jumping in. Too many teenagers sit at home playing on XBox's or on the internet and don't get a proper hobby that they love, and we seem to be discouraging her when she clearly states it is her passion. Never again will she have so little commitments other than her horse, so make sure you have everything you need in place, buy the right horse and enjoy it. Good luck x

 

[equilife02]

There's so many if's, and's and buts on here, which are applicable to us all - how many of us would truly have bought our own horse had we known the truth? £600 a month should be fine, and if it's not and there is an emergency that you can't afford, do what we would all do if we got in a muddle and get help from family. The girl is clearly thinking about it and not just jumping in. Too many teenagers sit at home playing on XBox's or on the internet and don't get a proper hobby that they love, and we seem to be discouraging her when she clearly states it is her passion. Never again will she have so little commitments other than her horse, so make sure you have everything you need in place, buy the right horse and enjoy it. Good luck x

Thank you! It’s either people are really encouraging or the total opposite. Like no one knows what is going to happen and if you aren’t silly about it then you’ll be fine. Thanks for your words

 

[SpringArising]

There's very few people who have stacks and stacks saved just ready to go for an emergency. Most of my horse friends are getting by on a shoe string.

That being said, horses really are expensive and what you think will be enough never is. I've spent over £900 on my horse this month which was JUST for livery and a few vet bills. I find with horses, as soon as you recover financially, they throw something else at you!

 

[Winters100]

There's so many if's, and's and buts on here, which are applicable to us all - how many of us would truly have bought our own horse had we known the truth? £600 a month should be fine, and if it's not and there is an emergency that you can't afford, do what we would all do if we got in a muddle and get help from family. The girl is clearly thinking about it and not just jumping in. Too many teenagers sit at home playing on XBox's or on the internet and don't get a proper hobby that they love, and we seem to be discouraging her when she clearly states it is her passion. Never again will she have so little commitments other than her horse, so make sure you have everything you need in place, buy the right horse and enjoy it. Good luck x

I don't think that it is a matter of discouraging her - it is great that she loves her hobby and I have no doubt that one day she will have her own horse who will be adored. It is more a question of whether the time is right, and making sure that she is realistic about expenses and responsibilities. I agree that she sounds like a responsible young lady, but I do question the job security offered by an apprentice position, and to have to sell her horse if something went wrong would probably break her heart.

 

[equilife02]

I don't think that it is a matter of discouraging her - it is great that she loves her hobby and I have no doubt that one day she will have her own horse who will be adored. It is more a question of whether the time is right, and making sure that she is realistic about expenses and responsibilities. I agree that she sounds like a responsible young lady, but I do question the job security offered by an apprentice position, and to have to sell her horse if something went wrong would probably break her heart.

I’d just like to say that I don’t actually have a job secured at the minute. So I may not get an apprenticeship, it could just be a normal day job. Either way, I have many small pets that I take care of on my own, I know not to get a pet if I don’t currently have enough time to look after it. For example, I’d love a rabbit but I don’t have the space or time for it, so I haven’t got one. I’m just trying to find out useful information to see if you can afford a horse on £600 pm. Only I will know when the perfect time will come. I’m not about to go and buy a horse tomorrow. If there ever is a time that I’m struggling with my future horse, I have a couple of horsey friend who could potentially part loan or I could find a share just like how I found my current share horse. Most horsey people are born into families with horses and I wasn’t, so it really is all fairly new to me and rather than people just saying no you can’t afford that, I’d rather it be explained. I have an idea of cost of livery, farrier, dentist, insurance etc so I don’t really understand where all of this ‘extras’ is coming from? I know some horses are prone to tearing rugs but generally you do not need to buy a new rug every year and like you don’t really need more than 2 saddle pads etc so I do actually find it discouraging. I have no idea how the people I know must be able to afford horses if you have to go about spending £200 per week on them.. it just doesn’t add up to me

 

[Winters100]

I’d just like to say that I don’t actually have a job secured at the minute. So I may not get an apprenticeship, it could just be a normal day job. Either way, I have many small pets that I take care of on my own, I know not to get a pet if I don’t currently have enough time to look after it. For example, I’d love a rabbit but I don’t have the space or time for it, so I haven’t got one. I’m just trying to find out useful information to see if you can afford a horse on £600 pm. Only I will know when the perfect time will come. I’m not about to go and buy a horse tomorrow. If there ever is a time that I’m struggling with my future horse, I have a couple of horsey friend who could potentially part loan or I could find a share just like how I found my current share horse. Most horsey people are born into families with horses and I wasn’t, so it really is all fairly new to me and rather than people just saying no you can’t afford that, I’d rather it be explained. I have an idea of cost of livery, farrier, dentist, insurance etc so I don’t really understand where all of this ‘extras’ is coming from? I know some horses are prone to tearing rugs but generally you do not need to buy a new rug every year and like you don’t really need more than 2 saddle pads etc so I do actually find it discouraging. I have no idea how the people I know must be able to afford horses if you have to go about spending £200 per week on them.. it just doesn’t add up to me

It is a really good point about the extras. Because truthfully I don't know how I spend so much, but I do! Not 200 pounds a week, but some examples of some essential extras in last few months:
December 1 horse needed a tooth removing. Since it was a back one this had to be done at the clinic and she had to stay there for 3 weeks recovery, plus subsequent 2 vet visits when she was home
January same horse had a hoof infection. 2 vet visits, farrier to come and take shoes off, 2 weeks later farrier to come and put shoes back on. Plus vet advised to get some special boots to wear which cost 280 euros.
January other horse showing signs of not being happy with bit despite recently having teeth done. Vet visit to check him
Both horses needed psyllium because colic from sand in this area is a problem - cost 30 euro per horse
Last weekend horse 1 had clicking sound from back legs. Vet came Monday morning. Luckily nothing to do

But actually I think that on the budget you have you can afford a horse, what worries me more is the security of it. Because first jobs are often much less secure than others, and the fact that you seem to be having some difficulties to get one says that you won't walk into another if you lose it. In this case you need to have sufficient savings, or agreement from your family that they will support the horse until you find work. If they agree to this then I would say you are fine. But you do need to also remember that it may mean that you have to live at home for a very long time, and if in a year or two you want to get your own place you probably won't be able to afford to keep the horse. Really good luck because it sounds as if you are going about this in exactly the right way, saving money and looking carefully at the costs. Could you ask the owner of your shared horse, or maybe some other horse owner to help you? When you start work ask them to tell you EVERYTHING that they spend on their horse and for 6 months put that amount away in a separate account. This will give you a very good idea of what you have left to live on, and will also boost your savings.