How much should I save before buying a horse?

If leasing my friend's horse doesn't work out I've decided I'm going to start saving up money to buy a horse. I know there is so much more to save for than just the price of the horse but I'm not sure how much I should have before I will be ready.

I think I would like my budget for the horse itself to be around 1600. Other than that I have no idea how much I should save up. How many months of board should I save for? How much for tack, brushes, etc.? How much do vet checks usually cost? I also think I should save more than I think I will need once I calculate all this incase there's something I didn't think of/plan for.

Any help with how much I should save up, or other things I need to save for is very appreciated.

The best way to start is to pick a certain amount to put away each day or each week . Cut back on buying pointless things that you know you could do without . Im not sure what type of person you are but if I have money in my hands sometimes im likely to spend it . I made a jar that was near impossible to open and I put all my change and money in there . Im a big tea drinker at Tim's and instead of teas I put my change in the jar . Youd be surprized how quick the little things add up.

I never got a vet check done on my mare so Im not sure how much they cost and that would also depend on where abouts you live .

While I was saving up for a horse I would slowly collect the tack and what not when I saw that it was on sale. Let your family know just how much you are trying to save for a horse and when x-mas comes around or your birthday ask for only money or horse supplies. That's what I did and it seemed to work out well. Look for things that are on sale and youll save alot !

Make sure to save more then what you actually think you need for trailoring costs , vet bills, farrier etc . It is always good to have some money kept away for the horse incase of anything that may happen as the vet bills are very pricey !

Good luck I hope you find the perfect horse when the time comes.

Thanks for the tips! I forgot about trailering so I will add that to my list of costs.

I like to spend my money on stuff I don't need too. Only with me, it's that I have a credit card that gets me into trouble. I don't feel like I'm actually spending money until the bill comes :/. But I'm really trying hard not to buy anything now. I want to be able to put my whole paycheck aside so I'm really trying hard not to spend.

One thing I was wondering about, and I don't know if anyone can help me with this, is how to find a place to board. My problem is, I don't want to be boarding where I ride (they have way too many requirements for boarders that I don't like) so I would need another place. Do I look for one before I actually have a hourse or after? It just seems a little weird to me, to be looking for a place to board when you don't have a horse. But I also don't want to end up with a horse and no place to board it.

I think that it's better to look for a place to board before you get your horse. Typically you have more time that way and can really check the places out so you don't get stuck in a place that isn't so great. I'm pretty sure most boarding facilities are used to people coming in to check the place out before they have said horse.

As far as expenses I've found it easier to break it down into different areas and total that up for an annual thing:

Veterinary costs (shots, deworming annual teeth floating etc): $475
Farrier: $400 unshod, up to $900 shod

Total for above: $875 if unshod $1375 if shod a year

You have to add boarding costs etc into that. If your boarding facility doesn't include feed in the board then you have to count that in.

Now emergency vet bills can get really expensive. I've had a mare rack up $3000 in one night for a colic call. I personally will not buy a horse until I have :
At least three months worth of board money saved (in case of losing a job you have three months to find a new one)
At least $3000 for emergency vet bills
And then of course the horse purchase price.

Talk to the vet and farrier that work the place where you ride, and the local feed stores. They typically know just about every horse place in the area.

OKay so I bought my horse for 10,000 (she was pretty inexpensive) and then spent about 5-6,000 on tack, vet stuff (1 lameness check and then 1 vet check) about 2,500 and then training for me in about 1,200 a month (includes lessons and board). I already had a horse before this one so I had boots and saddle pads and stuff but I had to buy 2 saddles, more pads, 2 bridles, bits, and a BUNCH of other crap like studs and stuff.... yeah I would save for the horse and then have about 10,000 set aside. Get insurance too, that's like 600 a month.

I've spent nearly £1,000 on Obie, but that includes tack (and shoes)

I'd have the cost of the horse, in your case $1600.

Vet - $100, Transport $200-$600 depending on where they are, both you and the horse - to go out and look at them, it might cost you $100 in petrol, if you have to stay the night maybe $60 or so. You might need a month bond in advance plus a deposit, that will depend on your situation - some places charge $20 a week, others $100. You'll need to buy a whole "round" of feed if the place doesn't supply it, that can easily cost you in excess of $100, depending on what you plan to feed your horse. It averages out over time but you still need that upfront cost.

If its winter you might need $300 or so for rugs, less in summer but you might want a waterproof/windproof one if your horse isn't stabled. Between $600-$1000 for cheap tack. Remember you'll need saddle, saddle cloth, bridle, bit, girth, stirrup. You can cheap out but I find the little extra you pay in the beginning is worth it in the end. Additionally if you may need to pay a saddle fitter to come out and fit the saddle to your horse. You can buy really cheap start-up kits but most people I see with those seem to just end up damaging the horses back, and end up with a dangerous or lame horse. Remember the saddle has the fit the horse - you can not just chuck anything on. I think western saddles are a little different - i'm an English rider.

Grooming brushes are the cheapest, but you'll need to buy a feed and water bucket if they are not supplied at your place. Add a few odds and ends and it would be worth budgeting $100 I think.

Often people selling horses, especially at the cheaper end of the scale, are a bit behind on shoeing and teeth filing, so you might have to get the farrier and the dentist out - all prob between $100-$200.

Plus you want a "buffer" savings.

I'm Australian so the amounts might be a bit off, or seem a bit high, but I always think its best to save and expect to much money rather than too little. Our dollar is pretty close to yours these days but still the cost of services vary.

Hope that helps a little.

Thanks everyone for your responses. They have all been really helpful. I'm going to try out the possible lease tomorrow. Even if I end up going with the lease I think I'll be putting money aside each month to eventually buy a horse with. Either way I think I will be happy so we'll just see how things go! Thanks again everyone!

I hope that the lease works out for you!!!