First the disclaimer, I of course realize that any suggestion of borrowing money is the precursor to ****ation - but I am interested..
Now personally, I have never borrowed money to buy a horse, I always buy cheap horses.....but a comment made else where about not borrowing for a hobby, made me wonder..
Yes, we have become a world of 'must have it now, take a loan go into debt people' but I'm wondering where the line comes.
I guess most of us borrow to buy a home, some of us to buy a vehicle, those of us in business get used to scary amounts of borrowing at times...
When it comes to hobbies though, I mean Fergie at $1500 I could afford, but Troy at $8000 I would of had to borrow for. My trainer has a few horses listed, from $8000 to $20,000, do people really have that sort of money saved up? I'm not sure how many people make money at their riding hobby, can you make money jumping or other English disciplines, LOL I know that you don't make money at dressage.
So question one, would you EVER borrow to buy a horse, maybe for breeding, or competition?
SO now you have your horse, how many people borrow to buy a trailer, and maybe upgrade their vehicle so they can tow said trailer, once again, nice to have the loose change to do that, but it is a significant amount of money to buy something reasonably nice...
Question 2 would you borrow to buy a trailer?
Just interested, for number 2, I'm lucky, we have a heavy duty farm truck to tow, and I found a trailer that I could afford, it is functional, but not pretty.....
Now personally, I have never borrowed money to buy a horse, I always buy cheap horses.....but a comment made else where about not borrowing for a hobby, made me wonder..
Yes, we have become a world of 'must have it now, take a loan go into debt people' but I'm wondering where the line comes.
I guess most of us borrow to buy a home, some of us to buy a vehicle, those of us in business get used to scary amounts of borrowing at times...
When it comes to hobbies though, I mean Fergie at $1500 I could afford, but Troy at $8000 I would of had to borrow for. My trainer has a few horses listed, from $8000 to $20,000, do people really have that sort of money saved up? I'm not sure how many people make money at their riding hobby, can you make money jumping or other English disciplines, LOL I know that you don't make money at dressage.
So question one, would you EVER borrow to buy a horse, maybe for breeding, or competition?
SO now you have your horse, how many people borrow to buy a trailer, and maybe upgrade their vehicle so they can tow said trailer, once again, nice to have the loose change to do that, but it is a significant amount of money to buy something reasonably nice...
Question 2 would you borrow to buy a trailer?
Just interested, for number 2, I'm lucky, we have a heavy duty farm truck to tow, and I found a trailer that I could afford, it is functional, but not pretty.....