Finally affording a horse?? Just a little worried

[notsoluckyhorseshoes]

I'm a bit stressed out so just a tad rant filled haha

So I'm currently looking into doing an apprenticeship that is near me that pays £166 a week so only like... £600 or less a month? But I hands down that won't be enough to carry myself and a horse (am living in family household so I don't have to worry tooo much). However, I was thinking of maybe doing that full time while working an online job or part time job somewhere else on the side to have a bit more money or random side jobs.

I may be able to afford a horse if I'm able to keep it at a friend's yard who said they were willing for me to keep it at their old stable for free as long as I maintain it - They never visits this stable and I'm quite good friends with the neighbouring yards or keep them at the yard I'd do my apprenticeship at with a reduce livery cost - that includes hay and straw.

If I'm able to rack up the apprenticeship wages and a side job or do freelance grooming on daus off my usual apprenticeship hours then maybe?

Again, I don't have everything nailed down or anything confirmed and this is all super "what if" right now. Idk man I feel I am really starting to miss out with horses I just want my own pony.

 

[Spotherisk]

How much have you budgeted for monthly costs? When I bought my first one many years ago I was working full time but quickly had to take on a Saturday cleaning job and do party plan to make ends meet, I was really skint.

 

[notsoluckyhorseshoes]

How much have you budgeted for monthly costs? When I bought my first one many years ago I was working full time but quickly had to take on a Saturday cleaning job and do party plan to make ends meet, I was really skint.

Yeah I've worked out my cost will range from mostly £225-320 (depends which yard I'm at and stuff) but I'll probably get insurance on top of that and rack up an emergency savings account. I just don't want to be in the situation of having to sell it ever ?

 

[Spotherisk]

I had to loan mine out after a year, when I travelled for work, but I’ve now had him 24 years.

 

[[153312]]

What happens if you have an unexpected vets bill?

 

[notsoluckyhorseshoes]

What happens if you have an unexpected vets bill?

I'm planning to save up as much as possible with insurance and stuff on em

 

[notsoluckyhorseshoes]

I had to loan mine out after a year, when I travelled for work, but I’ve now had him 24 years.

Oh wow! That's really nice. I'd probably also have to consider loaning but that's a whole other can of worms haha

 

[Spotherisk]

Oh wow! That's really nice. I'd probably also have to consider loaning but that's a whole other can of worms haha

Yes it is, I was very lucky to find a lovely teenager for Harley and he was gone for a year. I drafted the loan contract and paid for the solicitor to draw it up and I continued to pay for shoes and insurance.

 

[Muddy unicorn]

is the apprenticeship working with horses? If so, can you get your ‘horsey’ fix through work? I really don’t think you’d be able to afford either the time or the money to have your own horse right now without it being a constant source of stress.

 

[MuddyMonster]

I shared horses through college & university and there's no way I'd be able to afford one on an apprenticeship wage. I bought my horse at the start of my career (but more than apprenticeship earnings) which was tight enough! I don't regret doing so but it did make saving much harder. I worked a couple of jobs for a while & don't under estimate how tiring it can be - and my full time job was office based.

My advice would be to put off horse ownership if going through an apprenticeship & if going into horses and owning a horse is important to you - consider if you will you have enough to have a horse when you've finished your apprenticeship or if you'd be better going down a non-horsey career route that pays enough to have your own.

 

[WispyBegs]

After being financially crippled by owning horses in my younger years, my advice is to wait until you are more financially stable or to find a part loan/share.
I was very much in your position, I found myself living on next to nothing, and this point I still lived with my parents.
It didn’t matter how much I budgeted for there was always something else that cropped up… whether it be an unexpected vet bill, horse pulling a shoe off, car maintenance etc.
I’m afraid I don’t think you’d be left with much spare change on £600 per month.

 

[MidChristmasCrisis]

A young lady on our yard is loaning a horse, she lives with parents and is doing an apprenticeship with two days at college and three on site. She also works two other jobs in order to afford her horse. I know she would like to compete more but time and money is stretched. At 18 I think her work ethic is excellent but it seems quite a huge commitment.

 

[stangs]

What happens if you stop getting along with your friend? What happens after you finish your apprenticeship? Can you afford the upfront cost of a horse to begin with? Online jobs are either very difficult to get, or offer little to no salary. If you're working all these jobs, how are you going to have the time to spend with the horse? Not to mention - what's your plan for veterinary bills?

I can very much relate to the feeling of missing out because of not having your own, and I'm not saying that it's impossible for you to have your own, but your current plan needs work.

 

[Widgeon]

Could you find a share? I honestly don't think it will be fun at all if you're constantly worrying about whether to pay for hay for your horse or petrol for your car (for example). It'll just be another big pressure, and life (particularly life on a small wage) is full of those already. Assuming you're quite young, your salary and stability will almost certainly increase as you get older. I wasn't in a position to buy my first horse until I was thirty.

 

[paddi22]

I'd honestly look at sharing. you have to visualise the worst three months you can have and see can you cope.
so say, horse gets ill:
- can you pay 2000 expenses immediately for vets/physios
- can you go up daily and do managing/handwalking while juggling so many jobs
- if you fall out with friend who owns yard, do you have somewhere else lined up for an emergency

if you aren't 100% about any of those, then sharing is the option for you. when will you get time to even see the horses if you have to work so much just to pay for it? it might just not be the right time for you to buy. but you'd be a great candidate for a loan or share

 

[Equi]

It would be very tight tbh.

 

[[153312]]

Honestly op I would say it's not wise. You might get away with it but the unexpected has a horrible habit of happening at the worst moment, particularly where animals are involved.

 

[Havital]

Wait til you’re financially stable. Earning that much a month then needing to work side jobs on top of looking after a horse won’t turn out to be much fun.

 

[Gloi]

Save up the money you were going to spend on livery and by the time you are earning better wages you will have a good lump sum for the horse or other things.

 

[notsoluckyhorseshoes]

Save up the money you were going to spend on livery and by the time you are earning better wages you will have a good lump sum for the horse or other things.

Yeah I'm planning to save up at least like 10k or more before I get a horse so I can at least figure out how much I'd spend monthly then see how I can twine that in with my better wages thank you so much for your advice!!

 

[[153312]]

I take it you're going to go ahead and purchase anyway OP?

 

[notsoluckyhorseshoes]

I take it you're going to go ahead and purchase anyway OP?

I'm really not sure yet I'm probably going to make a really detailed plan but not even go with it anyway and use it as a reference for later. It is quite mixed right now and I'm probably better off networking for now so I know I have a kinda support group

 

[little_critter]

Before buying I’d see how you get on with the apprenticeship. You may have study you need to do outside of work which will add to time pressures. I agree that I think money will be tight.
I’d recommend getting through the apprenticeship first, see what job that leads on to (hopefully paying better too). Then see if buying a horse is more doable.

 

[paddi22]

also be conscious that the financial burden ofd paying for your own outgoings plus horse bill monthly, may mean you end up staying in work situations that aren't ideal, purely to pay the bills. at your age, the focus should be on being as free and flexible as possible and figuring out the best work path for yourself. that sets the best foundation for a comfortable life down the line. you can share/volunteer at a horse charity etc to get your horsey fix. but the most beneficial thing you can do at this stage in your life is to focus on your career and get that sorted.

 

[splashgirl45]

i didnt get my own horse until i was 21 and worked full time. it was very difficult and i worked at the yard 2 evenings and all day sundays for half of my horses keep and i could hardly manage.. in your position i would save up as much as possible by putting the money you think your horse will cost to keep into a separate account, make sure you do it every week/month depending on when you get paid..that is just the minimum you will need because horses dont read the rule book about not injuring themselves.. i think a share would be a good idea first so you get used to the work having horses entails