Realistically, what salary per year would I need to earn?

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bailey1moo

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(sorry if this is in the wrong place)

I am struggling to decide whether to go for a job I would love on a lowish wage or a job I will hate on a higher wage. Would £14,000 be enough to own a horse?

Thank you, all answers are very much appreciated. I am just so confused! If it matters the pony is a fell x on DIY livery/ lives out. Currently owned by my friend.
 
It depends on your other bills.

A 14k salary on a normal tax code (647l for upcoming tax year), would give you about £1000 per month net. After your rent, household bills, travel costs, food, will you have 250ish per month left over to pay for the upkeep of a horse?
 
Depends if you are renting/paying mortgage or living at home... I would say I couldn't have a horse on 14k with bills, rent, council tax, food, petrol etc. If you are prepared to scrimp and save it could be done but its always good to have enough money in case of a rainy day.
 
Hi,

It depends what other expenses you have, rent or a mortgage can take lots of your salary up. As can petrol and general car costs if you are travelling a lot.

For example to cover all my household bills, including mortgage, council tax, water, electric, farrier, part livery, petrol and some groceries the minimum I would need is about £1000 and that doesn't include any luxuries just the basics. So I think it depends on your circumstances and you need to work out your expenses honestly to see what you can afford to do.

Good luck!
 
Hi, and welcome to the forum
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It depends on your circumstances - are you single/married, kids/no kids, mortgage/renting/with family? If you are earning £14k a year and paying next to nothing for housing etc, then it's very manageable. If you're earning £14k a year and paying £600 a month on rent, then you might struggle.

Perhaps you could do a budget for the horse. As a bare minimum you should budget for:

Livery costs
Hay
Feed
Shoeing/trimming
Insurance
Vaccinations
Worming
Regular teeth check
Tack/rugs if you need to buy or replace them

Hope this helps
 
If you have to pay rent etc., as the others say, then it doesn't leave a lot spare. It depends on what type of livery you could get or if you have land you can keep ned on. There is local grass livery round here for £40 per month, and there's stable and field for £22 per week. Both plus hay etc. Also you have to factor in:

Wormer
Shoes or trimming
Tack
Feed
Rugs
Odds n sods
Your own equipment (new and replacement)
Shows
Riding Club membership
Insurance (at least third party)
Vets
Vaccs.


When I work out how much it costs to have our three I realise I shouldn't have them all if we want anything else out of life, but we don't do much else other than work and have the neds so it's alright
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Maybe I could find someone to part loan it? But I don't really want to buy to part loan. Maybe I should wait a bit, I know I will think with my heart, not my head! I am not good at decision making.
 
My husband and I have a mortgage which is 570 a month (high rate sadly), and with all our other bills, cars etc, before we consider the horses, our monthly outgoings are about £1600!

Really budget, right down to the last penny. If you cannot afford it then consider sharing.
 
Or get a 2nd job? Lots of people I know do a little extra job on the side, just to pay for the horses. I have just got myself a 2nd job. Be careful, though, as a new EU directive states that you cannot work more than 47 hours per week for more than 17 consecutive weeks!
 
I manage to keep mine on £18k living in London. BUT mine are at grass livery for £28 p/m and I have NO luxuries/holidays/life! I was earning alot more before I got them and I have to say that, even though I have adjusted to the pay cut and would never part with them, I wouldn't have taken them on if I was earning this much originally.
 
I am single parent with 2 horses and have beans in my cupboards but have a well paid job. I would say you need at elast £200 per month to keep a pony on DIY, unless you want mine of course who has no shoes and is very clean in the stable and doesnt eat either 3 bales of straw and 2 bales of hay per week
 
6 years ago I bought my lad when I was earning £17000 - after house (lived on my own with tiny (£400pm) mortage plus all bills (add on another £300pm), car, food and NO luxuries I JUST managed with a horse on £16pw DIY livery. Couldn't afford a night life or holidays or anything. Good job I love him!

Think very carefully...
 
OP, personally speaking, I would say go for the job you love. Time will come when you will hopefully be able to have both, but you will spend the vast majority of your life working and it is much better if you enjoy it
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hello!
i earn just under 16k per year and have house bills etc and i just about manage! this also means i dont have any other luxuries at all but to me its totally worth it. depends on how much you want it i think if you can give up clothes shopping, going out every weekend and take aways then fine. I spend every last penny on my horse and i wouldnt have it any other way. he eats better than i do!
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A good idea is to have a couple of months where you save religiously - how much do you have spare? I did this and used the money I'd saved to buy a horse!!
 

There's no one answer to that. It all depends on your outgoings. Write everything down and whatever you have left after outgoings will determine whether you can afford it.
 
How long is a piece of string??? A horse is basically as expensive as you make it. You can buy a £125 rug simply because you like the design on the fabric and have heard good things of the make, or hunt for a bargain (or even make a stable rug)and look after it. My horse is still wearing rugs I bought new for her 14 years ago. I made a lovely pure wool rug for her from a blanket I bought in Oxfam and fixtures and fittings from someone else's throwaway. I think it cost me £3 to make. It is incredibly easy to waste money on a horse, but with a bit of thought, easy to make savings too. Don't forget the , wear and tear on the car tyres. This week my horse cost me a vet bill when she needed a visit at 8.30am. I doubt I'll have much change out of £100. Unfortunately she already costs me £300 a month in drug bills. A retired horse costs much the same to keep as a working one. Are you prepared to sacrifice other things? I have had precisely 1 weeks holiday since I bought my horse in 1995. Could you live like that? I'm not trying to put you off (honestly!!) but it is potentially as much of a committment as having a child. Don't rush into it without doing ALOT of homework first.
 
Thanks for everyones answers
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I have £5000 saved up through my college years so hopefull will last me a while. I have had a chat with someone I used to know well, and she said she knows a lot of people who would be willing to share with me untill I am stable enough to afford it on my own. Hopefully things will work out alright, the livery is 20pw, so a sharer would cover that part.

I may have to find another job though untill i am earning a bit more.

Thanks everyone.
 
[ QUOTE ]
Thanks for everyones answers
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I have £5000 saved up through my college years so hopefull will last me a while. I have had a chat with someone I used to know well, and she said she knows a lot of people who would be willing to share with me untill I am stable enough to afford it on my own. Hopefully things will work out alright, the livery is 20pw, so a sharer would cover that part.

I may have to find another job though untill i am earning a bit more.

Thanks everyone.

[/ QUOTE ]

Very sensible you. Andy anyone who can save whilst at college requires a medal
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Let us know how it goes
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I earn alot less than 14k a yr and manage a house rent bills etc and my two ponies i dont splash out on myself like i used to when i lived at home so if i earnt 14k i would have money left each month how nice! lol I would think it would depend on your own bills though and how hardy the pony was though. Good luck anyway.
 
How long is a piece of string? A lot also depends on where you live in the country. if you live in London or its environs, £14k is barely enough to live on, never mind keep a horse on ! If you live somewhere a bit less expensive, though, and you can find inexpensive grass livery and are good at budgeting and very disciplined...then yes, you ought to be able to manage it.
 
I agree with MrsMozart: think very carefully before taking a job you hate just because it promises more money!

If you can, go for grass livery (or DIY with 24/7 turnout available): it's cheap, your pony will like it, it's less work for you, and you'll save on feed!
 
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