Paying Off Debts before Buying a Horse.....YAWN!

Lippyx

Lippyx

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Pointless post, but....

...Is anyone else doing the right thing and paying off most or all of their debts before they buy themselves a horse?
I made a pack with OH that I would try to pay off most of my debts (mainly a big hefty credit card) before I start looking for my horse... he is very sensible when it comes to money.

It makes perfect sense TBH, as IF anything happened liked unexpected vet bills.... or the urge to buy new tack, then I wouldn't be so worried if I didn't have debt to pay, but God, it is sooooo boring and frustrating!

After my lesson last night, my instructor even said she can't wait til I have my own horse, and she can teach me on IT as apposed to one of the Riding school neddies.

I have a target of end of the Summer to have paid off my hefty credit card at least, so fingers crossed!!

Sorry, for this pointless post, but just wondered who else was in the same situation?
 
Well I'm not in debt but I do have to wait for a divorce before I can buy my daughter a new horse
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I do have to say good on you Lippyx, plus its not long till the end of the summer.

I wish my finances were in order of some sort (loan payment
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)Its not too bad though as I do have quite a bit in savings. I cant wait till Aug 2010 maybe earlier to have my loan paid off and that will mean I owe nothing, a BIG FAT 0.00!

Like you said vets bills or tack etc you just never know when you might have to pay out.

Good luck!
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yep- i was 2 months ago and still bought a new horse..... OH not happy at the time but really was and is beyond the perfect horse so i didnt want to miss out, if we couldnt have stretched to her i would have stopped looking until the end of the summer. at least you will get more pony for your pennies that way as everything seems to be mroe £££ at the start of the summer. hold tight it wont be long!
 
I know its the right thing to do, and when its done, I will be so chuffed.. mainly because it means I can start looking for my neddy!

But it is a very slow and boring process.... I only get paid once a month!!!!!! LOL!!

I have mentioned at the yard, that if they need a spare instructor, to call me and I will teach for some extra cash (use to teach there many years ago!) so hoping that will help!

Having a clear out of stuff I don't need to sell to raise some money too!
 
Do you know I was thinking about this the other day!
I got into a lot of debt by funding my BE on my credit card, I was also unemployed for 2 months last year, then got a job where I didn't get paid on time in full. Consequently I have only been doing the bare minimum with my horses, I did buy a 7 day hunt sub and ran in a P2P. but my mum helped with the cost of that.
My horses (I have 3, at home thank god!) are all currently happy hackers, eating less hard food, doing less work and consequently being kept on a budget.
I do wonder sometimes how lots of people on here manage to do all the things they do when most of us have normal jobs with normal salaries?
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BTW very commendable what you are doing!
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Very boring but definitely worth it in the long run. When you finally get your horse it will be well worth the wait!

Is there anything you could do to speed up the time it take to pay off your debts (eg helping out at a local yard at weekends)?
 
We had a few debts outstanding, nothing too serious, just an overdraft and a bit of a car outstanding. We got a bit more on our mortgage, which has made very little difference to our mortgage payments but allowed us to pay off our debts, no worries. For us it was manageable and we have no regrets.
 
Karenjj - Thats Horlicks, she belongs to the RS I ride at and she is FAB!! I have asked if they will sell her, but they don't want to yet. Think she has warmblood in her!
If they still won't sell her when I'm ready to buy, then I will still look for something else, but she will still have a big space in my heart.... and I'm sure the new horse won't mind sharing its carrots with her!!
 
Very responsible of you - I know it's boring but at least you can sleep at night. It sounds like your OH is a good influence! It wouldn't be fair to a horse to take it on if you couldn't afford to look after it properly and there's so much to buy for a new horse that you will probably run up another credit card bill in the first few weeks of owning one! If only all owners took their responsibilties as seriously. I know one girl who only works part time and has just bought a horse. Ok she still lives with her parents so doesn't have to pay rent/mortgage but 80% of her salary goes on her horse under normal circumstances (she "can't afford insurance") and the other 20% on getting drunk. The second that horse needs the vet, she's stumped - and so is he the poor thing.
 
Very sensible of you - and exactly what I'm having to do but will be a long time before my debts are payed! I'm self employed, so REALLY can't risk not having a 'slush fund' for any horse I owned, and at the moment i can't save for that. Yawn indeed!

Not sure I'm not spending more on lessons etc in the meantime though... hmm! Well, that's what I tell OH anyway, but he's not having it. He is extremely sensible wth money and would do his 'disappointed' face if I came home with a horse one day..
 
Hah!

Mortage means I wont be debt free until I'm 55 .....Kids mean I wont EVER be debt free so bugger that......we've got 3 horses, 2 kids, 2 dogs mortgage and credit cards.

Lifes for living and youre a long time dead......I think this more and more as 40 looms this october.

You could pay off your credit card and be dead the next day.

Go shopping immediately
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I graduated last year after doing a BA then an MA so have a hefty lot of student debt. If I waited to pay it all off I'be be about 40 I think. I agree life is worth living and you don't know what is round the next corner so as long as you can afford the upkeep go for it.
 
I certainly think like that - Life is fir living etc, but then as Elap says, if I came home with a horse I would get the famous "I'm disappointed" face from my OH too!

I think he is using the horse as a reason for me to rid my debts, as he is more worried about the situation I would be in if I lost my job and had NO money coming in! Fine by me, and he knows I will get a horse when my debt is aleast halved!!

Any other ideas of how to get extra £££??!! Pimp OH out maybe???
 
Glad other OHs do disappointed face as well... I get it a lot!

Well, on my 'get vaguely richer rather slowly' list is: odd work at local yard; bar job possibly; rent out spare room... erm, have yet to resort to pole dancing or bunny girl! Tempting though!

I hope to get the credit card out of the way and sod the rest of the debt and grab myself a bargain or a loan - Poppymoo is right, and now I want to go shopping!
 
Hmm just read this and realised how sensible everyone is. I don't have huge debts, just an overdraft ....oh well new pony coming on saturday, i will pay off the overdraft overtime, thanks to new job!
 
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Hah!

Mortage means I wont be debt free until I'm 55 .....Kids mean I wont EVER be debt free so bugger that......we've got 3 horses, 2 kids, 2 dogs mortgage and credit cards.

Lifes for living and youre a long time dead......I think this more and more as 40 looms this october.

You could pay off your credit card and be dead the next day.

Go shopping immediately
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[/ QUOTE ]

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I'm having a mid-life crisis at 35
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My pony is officially a light hack now and I thought I would be content at that and couldn't really afford another anyway, thought I might spend any spare time on housework and DIY and any spare money on paying off credit cards..

However, after just one week, I've thrown in the towel and am horse-hunting
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OH is helping me out because I get broody and start thinking about having children if bored, it's cheaper in the long run
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For me, life is too short to be saving away and paying everything off.

I live for today, I have lost many people in my life through illness and accidents, I dont want to not wear that dress, buy that horse, have that night out because I can do it tomorrow, next week, whatever. I might not be here (although I hope I am!!!) so I live for today.

Everyone is different though, and if sensible is your thing, stick with it!

xx
 
Just be sensible and realistic. I have recently been horse hunting with in theory a reasonable budget in my pocket after selling my lovely horse. However, the credit card debt I had was knawing away at me, so I compromised by paying off a majority of my CC's and buyng a relatively cheap youngster to bring on and have fun with instead
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