How much in DEBT would u need to be before you decided to SELL UP?!

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EquestrianFairy

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-After reading that post about someones girlfriend being upset that she had to sell her horse because she was in debt and couldnt afford it.. it made me realise how hard i work to keep my herd and im in alot more debt than she was (not all self inflicted!).

How far would you have to be before you sold up?

Personally, id still be on my knees and knuckles before i gave up- and i'd still be kicking and screaming to keep going.
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I sacrifice a hell of a lot to keep my girlies, but its my sacrifice, my choice and i sure as hell dont complain about it.
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I have a horse and my daughter has a pony. Single parent due to divorce and most say I should sell them but we dont go on holiday (well camping with friends!!) I dont smoke, have very few nights out, take aways etc

Daughter has to do odd jobs to earn pocket money, no flash tv,s sky tv etc smaller birthday xmas presants.

But we both think it is like xmas everyday when you walk onto the yard and see you horse/pony.

Would take a lot to give them up, as long as bills are paid then we will carry on. Its hard work but we get by - just!!
 
I think the moment outgoings exceed income and there is nothing more I can do to alter the balance is when I would start making some very serious decisions. Being a little OCD about our finances, though, I could probably forecast it months in advance of it actually happening, so as it stands, something pretty big would have to happen (erm, touch wood nothing does!) to land us in the poo-pot.
 
I think it does depend on your personal circumstances. I have the security of a child to consider, so if it seemed we really were struggling month to month to pay the bills the horses would have to go, no question - as much as it would hurt me to do it.
 
To the point where I couldn't keep Tyler in the conditions he needs.

I am fortunate in that I don't have a house or children to worry about - only a car and phone plus Tyler.

Would need to be struggling for survival. I am also inrediably fortunate in that I have my parents support if anything goes wrong
 
Well, apart from a relatively small mortgage and a pain in the ass builder, we don't really have any debt, but I think if it started getting a point where we were afraid who was knocking on the door and what they wanted, we'd sell the horses. Luckily, my husband is quite anal about paying bills the day they come in, and that is if they are not already set up on DD. Oh and I do have by student loan.

We are DINKs, though, so we can pretty much afford to be a bit more laid back about it. Some months outgoings exceed income, but other months income well outweighs the outgoings, so it balances out. We tend to scrimp a lot in other areas and I think I am lucky as I am a qualified teacher and do tutoring for primary children, so I can take on extra tutees if the going gets tough. Saying that, I don't have a teaching job to go to now that my training as finished (there is a shortage of jobs) and don't think I want to teach, so I am possibly going back to nannying and doing some supply teaching on the side.
 
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I think it does depend on your personal circumstances. I have the security of a child to consider, so if it seemed we really were struggling month to month to pay the bills the horses would have to go, no question - as much as it would hurt me to do it.

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Ditto - I would never get myself into debt because of the horses.
 
I think that as Chillidragon has said - if you have more going out than you have coming in and it isn't just a temporary blip then serious decisions have to be made.

Things such as paying a mortgage have to take priority, after all.

I would get other jobs though, if it meant that I could maybe keep my horse - I would deliver Pizzas or work in a pub at weekends.
 
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I think the moment outgoings exceed income and there is nothing more I can do to alter the balance is when I would start making some very serious decisions. Being a little OCD about our finances, though, I could probably forecast it months in advance of it actually happening, so as it stands, something pretty big would have to happen (erm, touch wood nothing does!) to land us in the poo-pot.

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You took the words right out of my mouth. I'd rather make the decision early and have the time to sell to a good home than already be in debt and possibly forced to sell quickly to just anywhere.
 
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I think it does depend on your personal circumstances. I have the security of a child to consider, so if it seemed we really were struggling month to month to pay the bills the horses would have to go, no question - as much as it would hurt me to do it.

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This is very true, i dont have children or a mortgage so i suppose its different for me.
if my outgoings exceeded my incomings then i'd try to find another job or do additional hours etc.
(but again, i dont have children to consider with this)
 
I would never get into debt. I have a mortgage, a horse but no intention of having children! I would work more hours if I had to. At the moment I only work 4 days a week but occasionally do the odd out-of-hours if I need quick cash for something to prevent me dipping into savings.
 
I wouldnt get into debt to have them, but would get a job (am a SAHM atm) to keep them......I know how much I can afford to spend and wouldnt load myself up with a load of horses I then wouldnt be able to keep properly or anything.........
 
For me it was when my outgoings consistently exceeded my outgoings for about 3 months in a row and my credit card just kept getting bigger. I have no kids and (following my divorce) no mortgage but the sums still didnt add up
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I did consider getting evening work but really couldnt see the point - the evenings are when I enjoy my horse, so it didnt seem logical to keep him if I couldnt actually enjoy him because I was working all the time!

Plus at that time I was doing a post-grad HR course as well as working full time, so had that to consider too
 
I live within my means and wouldn't get into debt for my horse.

Hence, I have sold my horse because I am due on maternity leave and will have a huge drop in income.

It's a case of prioritising life. My children come first, plain and simple.

Nothing is ever worth getting into debt over in my opinion.
 
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