When you decide to get a horse, money likely isn’t, and probably shouldn’t, be the first thing on your mind. The fact of the matter is, you own a horse because you really want and care to, certainly not because they’re a bargain basement pet. Still, with all the significant expenses associated with the cost of ownership, it’s only natural to want to save money where possible.
Whether you are thinking of getting a horse or already own one, it’s important the think about all the year on year costs and how you’re going to afford them. This article offers four ways you can look to duck some of the financial strain that typically comes with caring for your horse.
With any big financial expenditure, it makes sense to plan well in advance. As mentioned above, it’s important to figure out all the costs attached to ownership, no matter how big or small. This way, you can drum up a rough estimate of the budget required for the year, which should also incorporate something of an ‘emergency fund’ to protect you against any unforeseen costs.
Talking of protecting yourself, horse insurance and veterinary insurance should be considered a sound and sensible investment. A cost now, yes, but a major safeguard against potentially crippling bills down the line in the case of an incident.
Be Labour Intensive
Be under no illusions, looking after a horse is a tremendous commitment that requires an awful lot of work. Of course, for many with other responsibilities, that means seeking external help to carry out everything required, at a fairly significant fee.
Thus, the more work you can do the better, as far as your finances are concerned, anyway. How much you can do is a question for you to answer, but the more of the feeding, exercising, brushing and mucking out you carry out, the more you’ll save – not to mention, you’ll get to enjoy more time with your horse.
If You Can Bear, Share
The connection between a horse and its owner is a special one. The bond you create is like nothing else, and that might not be something you wish to share with others. However, if you don’t mind that idea, you can look into doing just that. Horse sharing halves rent, feeding, maintenance and all other essential costs straight off the bat.
If that’s not for you, you can always come to an agreement with other users of the stable about a mutual work schedule which will at least split the labour load to make things less time intensive.
The riding community is a close knit one, so if you can find help and build relationships, it may well lead to savings on both time and money. What’s most important in all of this, though, is understanding the true financial commitments involved before getting into a situation you can’t manage.
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