New horse, How do you afford to buy?!

If you add up all the money you spend keeping a horse,tack, rugs, lessons, shoeing etc etc just a few months without one will very nearly buy you another!
 
Buy low, sell high. If you can't afford to buy the horse, you are going to have a really hard time paying for it's upkeep. Horses are not a cheap hobby.
 
Such a good question, and so heartbreaking for people. Great horses can be found inexpensively, depending on what the horse is needed for. At least that is my experience but I am a happy hacker. If I was a serious top flight competitor then I have no idea how it is done.
 
SilverFilly said:
Thank-you all! Basically what i expected :) I am 25 and have a decent full time job, I've been trying so hard to save but each time I seem to be getting somewhere a massive bill comes my way! ( I do own an ex-racehorse for my sins!!)
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I didn’t have my own horse from about 18 going to university to 31 when I’d established a career. Even then I had a loan to buy as the costs of renting seemed to prevent significant accumulation of savings. Subsequent horse was also purchased loan after the first one paid off. Now I’ve just remortgaged to do some work to the house plus looking to buy a younger horse as current is 23 and semi-retired. Thinking it will be my last horse if it’s a keeper as nearly 48 and I’ll be in my 60’s if it lasts to a good age.

Apart from work pension and house I have no other savings, figure I’ll sell house and downscale if I need to later.
 
Latest horse, most expensive I’ve bought, was paid for with my first decent bonus in my new job. Totally frivolous but I decided after years of bad luck with horses that I worked hard, earned my money and should give myself the best chance of enjoying my hobby. My yard (at home) I put on our mortgage - stables, manège and a ton of hard standing. I’m spoiled now but I’m in my early 40s and have been working to this for a very long time.
 
First one I saved up for - did a lot of freelance work and luckily landed a few high paying jobs. Second one - whenever that might be - will be a loan from OH. Thought about giving up and saving for a bit, but OH put up with my no-horse grumpiness for all of three hours before offering to put up the money.
 
First horse was paid for out of savings. Second horse, I intended to have a mini break and save up after I lost my first, was really miserable, took out a loan and bought another within five weeks. She broke irreparably the month I paid off the loan two years later.

If I had just saved my monthly horse money, I could have bought outright after six months of saving.

If you're really honest about the monthly costs, it wouldn't take long to save a decent chunk to buy with in just a few months.

I don't have the confidence to buy cheap and make it, unfortunately.
 
Mine have been from savings and all I think in the £2-5k bracket so not extremely high in comparison to how much they cost to keep per year.

I don’t do credit with the exception of a mortgage although I guess if I was suddenly in a sticky spot with an essential item like a car needed for work then I’d consider it but for me never with a luxury purchase such as a horse.
 
Cortez said:
Buy low, sell high. If you can't afford to buy the horse, you are going to have a really hard time paying for it's upkeep. Horses are not a cheap hobby.
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I own an ex racehorse that just needs to breathe air in order for him to get injured. Well aware they aren't cheap haha. Just wondering how other people did it, ive only ever bought on a payment plan from a friend.
 
first pony as a child was bought with all of my savings and money that family had saved for me :o that was the beginning of the end as far as my financial security is concerned :D
Subsequent horses were bought with the proceeds of selling the previous one.

I then had a few on loan, still have one now retired to the field but going nowhere as she's been such a great partner over the years.

Current horses - one was gifted from the field and I was supposed to sell her to buy the next one, but that never happened :rolleyes:
And the latest addition was a cheapo sub £1k from the local sales. OH lent me the money as I didn't have enough cash.

All could have been bought easily if I'd had a few months without a horse to save up, but tbh the thought of not having a horse about fills me with horror! I doubt I'll ever have the spends available to buy more expensive horses but so far I've always been able to produce what I want with lots of time and effort :)
 
First horse was a birthday present because family didn't like me riding a pony. Various feral and unhandled freebies have come my way over the years all of whom have been rehomed though I do regret selling one of them. I haven't paid more than £1250 for a horse, don't think I ever would. There is one exception though and I'm trying to save up the funds to buy her as I've known her for years
 
I had a small chunk of savings, three emergency vet visits, treatment and then had to have my mare put to sleep which wiped that out. Then everyone saw how miserable I was without a horse after this and persuaded me to get another. My mum lent me the money for my £400 pony who was in a horrible state when I bought her and I've just paid her back. She isn't horsey and doesn't ride, but she came to the viewing of my youngster and within minutes she was cuddling her in the stable :D

I couldn't afford to buy a ready made 4k horse, I don't have a lot of disposable income and often am unable to work. I buy cheap and make the best of the cheap ones. I'm always fully prepared that if my cheap horse isn't suitable I would sell on.
 
Took out a 0% interest credit card that only had to have the minimum paid back for 24 months. The money that i would paid back each month normally, i saved and bought my clydie. Credit card is now being paid back chunk by chunk!
 
My horse I paid a lump sum of money and then I paid a set amount for a certain period of time. I did not know the seller I had no intention of getting another horse hence why did not have a great deal saved this was after a three year break. But I had seen mine advertised and fell in love and I enquired about him, was straight up to the lady about what i could do. She was happy with that as we were a good match and the rest is history.
He is my horse of a lifetime and I will never have anything quite like him again. Learnt so much from each other. I am glad I did it. I was a little embarrassed about proposing the offer but I did not want to miss out so I asked.
I had seen loads of horses on the internet but it was only him that caught my eye.
 
I would imagine some people do what I do and can only afford once they've sold one, Ive never bought an expensive horse - well the most Ive paid was £4,500 on a horse who turned into a nightmare so since then Ive always paid far less than that since (my last 2 horses have been freebies) and then put the work in to make them worth more and then have to sell to fund the next one. I have no idea how people can buy the pricey ones, I guess they're just rich!
 
Horses are an expensive hobby and the purchase price is often actually quite small when co pared to overall upkeep and vet bills etc! Now that I’m a bit older and crumbly, it’s easier for me as I have a well paid job so I wouldn’t buy without knowing I could afford it. My younger more frivolous self would prob do it from debt, but that’s not a good route ofc. First pony my parents bought cheap from a local dealer who I used to ride for. Little did they realise that it’d come back to it in later life with such a passion!
 
I thought this might make you smile...beginning in 1966, so a story of over 50 years.

1 I saved up. Walked instead of taking bus to school. Saved 4 old pennies daily.
2 Saved up from wages of part time job as children were small
3,4,5,6 children’s ponies bought by us and money used again as each was sold
7 bred myself
8 bred myself
9 OH bought after tragedy to my horse
10 savings and money from sale of 9
11 60th birthday present
12 saved up myself

All those not sold lived in retirement or were PTS as I would not let them deteriorate or be in pain that could not be cured.
I have one horse for myself now.
 
I've not actually bought one yet, Frank was supposed to be for the family (2 horses three of us riding) :eek3: but I sort of half -inched him :D :D as sister less bothered/moved away first. I've just done the sensible thing and used an inheritance for a decent house deposit too and undecided if/when to get another really.
 
Well, I've always bought cheap which helps :D

First horse I bought with my student loan. Perhaps not my most fiscally responsible decision I've ever made but we had such fun together so I never regretted it. Current pony, bought with savings after my first graduate job. Next horse or pony will be from savings.
 
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