Money available in emergencies?

How long would it take you to raise a grand, cash.

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Just wondering following a previous comment. In an emergency how long would it take you to raise a thousand pounds cash to finance a problem with your horse?
 
I often wondered how I'd cope too. Then we took on two rescued greyhounds and it prompted me to set up a vet-fund in a separate account. And I have needed it (for both pony and hounds but have luckily managed to get most of it back on insurance).

What i didn't know before was that many vets demand you pay in full at first and then claim back from insurance. In the case of the hounds which both needed dental work, I was faced with a £1000 bill when I went to pick them up (most since reclaimed). That spoiled my evening!!!

Prior to my setting up the account for the animals, I relied on having a credit card with a decent limit on it (and which wasn't used for anything else). But obviously this could end up expensive if the insurers don't pay up.
 
When my horses reach 17 they pay £50 each a month 'pension' (currently 3 of them) into an ECF 'emergency colic fund'. Over the years it has had some big hits so I am glad it was there. They lent the yard cat £1k when he fell off the roof and technically they own my car :cool::D

I never think of it as my money (until I want to buy a car that is ;))
 
RebelRebel said:
When my horses reach 17 they pay £50 each a month 'pension' (currently 3 of them) into an ECF 'emergency colic fund'. Over the years it has had some big hits so I am glad it was there. They lent the yard cat £1k when he fell off the roof and technically they own my car :cool::D

I never think of it as my money (until I want to buy a car that is ;))
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Sorry, I shouldn't laugh but I hope the cat is paying them back - with interest. I'm sure the car is necessary for their comfortable existence - food deliveries perhaps?
 
If I think about it, Iam too poor to own a horse, let alone 2! I have no savings, and neither are insured. If there was a big problem vet wise, I may be screwed personally, but I do have family I can call on which have promised to help if needed.
I've had horses as long as I remember (most on loan), and only 1 was insured and he needed it! I've been very lucky, apart from minor cuts and scrapes the vet has stayed away! TOUCHES WOOD.
Well, if I didn't have a horse or 2 I'd be a very misrable person, so horses it is!! (lets face it, knitting doesn't float my boat!)
 
Ruthnmeg said:
If I think about it, Iam too poor to own a horse, let alone 2! I have no savings, and neither are insured. If there was a big problem vet wise, I may be screwed personally, but I do have family I can call on which have promised to help if needed.
I've had horses as long as I remember (most on loan), and only 1 was insured and he needed it! I've been very lucky, apart from minor cuts and scrapes the vet has stayed away! TOUCHES WOOD.
Well, if I didn't have a horse or 2 I'd be a very misrable person, so horses it is!! (lets face it, knitting doesn't float my boat!)
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I shamefully admit i'm the same, two horses, neither insured and I have no savings either...but if anything goes tits up im lucky enough to be able to ask for help from family.

I would rather have to pay money back to family than pay money to some insurance company.
 
Am very fortunate in that I could get that or more out the bank pretty much instantly. My family aren't in a position to be able to help me out so I would be far to worried about our mares if I didn't have a stash for emergencies. They are insured, but I feel better having a safety net too.
 
Chose option 3, but it actually takes 3 days to transfer funds between bank accounts. Hmmm... now this post has made me think it might be an idea to put some of that money in an account with my main bank so I can get at it immediately! Ta :)
 
In terms of what I have in savings in my bank accounts, I could rustle up around 5k - if I was to go into my overdraft then around 6.5k.
 
nutkin said:
Chose option 3, but it actually takes 3 days to transfer funds between bank accounts. Hmmm... now this post has made me think it might be an idea to put some of that money in an account with my main bank so I can get at it immediately! Ta :)
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I changed banks after discovering that if I wanted to transfer money between two accounts with the same bank it was going to take three days - so they had free use of my money for three days. During my final argument with them about the idiocy of this on the phone I told them I could guarantee that it would take me three hours. I got in the car, drove to the branch - about an hour away, extracted all the money in cash from one account and deposited it in another. Not the way I wanted to do business

I then changed bank and can transfer money to and from accounts instantly and to any other account by close of play if done before 3pm.
 
jemima_too said:
I changed banks after discovering that if I wanted to transfer money between two accounts with the same bank it was going to take three days - so they had free use of my money for three days. During my final argument with them about the idiocy of this on the phone I told them I could guarantee that it would take me three hours. I got in the car, drove to the branch - about an hour away, extracted all the money in cash from one account and deposited it in another. Not the way I wanted to do business

I then changed bank and can transfer money to and from accounts instantly and to any other account by close of play if done before 3pm.
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Hmm, what bank are you with (if you don't mind saying!), and what are the interest rates like? My current bank will do same day transfers between accounts if both of those accounts are with that bank. Transfers to other banks take 3 working days. :(
 
Both of mine are insured, mainly because i know in an emergancy i couldnt rustle up any big amount of money, and petplan pay direct to my vets!
 
I chose the last option but both ponies are insured.
It's going to be after christmas before I can start saving BUT if I desperately needed money, I'd hpoe I'd be able to borrow from family (no guarantees).

Regarding vet treatments and paying up front. I'll need to check how my vet works. I'm sure they've let others pay in installments. Some food for thought on this thread. Thanks and interesting to know other peoples situations. Don't feel quite as bad. :)
 
I belong to the - no way unless I take out a loan school.
But my horses are both insured and the insurance company pays direct to the vet. Phew! I didn't realise they don't all work like that!
However my lovely OH and I have got some savings, and although they are earmarked for dullness (think secondary glazing, new boiler and moving house YAWN) in a true emergency we would be ok.
 
Our horses are always insured thank goodness! Just got the invoice of Koko's vet bill £3000 it came to and he was there for 6 hours :o
But if we wasn't insured we could get about 5k in an emergency
 
nutkin said:
Hmm, what bank are you with (if you don't mind saying!), and what are the interest rates like? My current bank will do same day transfers between accounts if both of those accounts are with that bank. Transfers to other banks take 3 working days. :(
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firstdirect, I have no idea what the interest rates are like but they will pay you £100 (which equates to quite a lot of interest in this day and age) for transferring over to them and they do all the hard work. There is someone on the end of the phone 24/365. It is a little surreal at first getting mortgage advice at 2am but very nice when you wake up in a panic and can get reassurance immediately. I've never had an unpleasant person answer the phone yet. They are all British as well - not outsourced. Accounts can be operated online or (apart from one savings one AFAIK) over the phone. Over the counter services are provided by HSBC - if you want to get a large sum out of the bank you call firstdirect and arrange the amount, time, password etc and then you turn up at HSBC and everything is waiting for you.

I've been with them pretty much since they started:)


*here ends the commercial for firstdirect*
 
I put the "in the bank" option as I have at least a grand in instant access overdraft so could pay a card payment instantly, but technially if you needed cash yo have to give the bank 3 hours notice I believe.

xxxx
 
Good to see how many people take these things seriously. None of my (significantly cheaper than horses) animals are insured but I always have plenty to cover their needs in my current account and a cash sum would go to look after any future needs if anything happened to me. I've also worked out a rough 'worst case scenario' costing for an unrideable horse with long term health issues that needs to be stuck in a field for 20 yrs... and I won't be buying until I know I won't need that money for a house. Share/loan for me for now.
 
now.... well you can take my debit card and its on there! lol

i dont have alot - but a morbid as it sounds i have the funds to PTS for an emergancy and i feel im responsible and realistic enough to cope with that hence those funds

but yeah - its general emergancy money :)


eta- horse and dog both insured... but i once had to find 2k for my dogs MRI scan unfront. not fun. (and get it back several weeks later lol!) madnes.

so somethings you can account for... i scrape my way through the months but im practical in case of emergancies tbh.
 
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When my horse had emergency surgery last year I had to pay the horspital £3000 up front before I took him home, it was the hospital's policy not the insurers (because they weren't my usual vet). If I had waited for the claim to go through he would have been there for another 5 weeks!! Sadly sometimes you do need the funds available, even if you are fully insured.
 
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