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Tough Decision....

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        09-12-2008, 10:56 PM
      #11
    Started
    That all sounds very reasonable. I hope you get her. If you do, she's very lucky to have you! :)
         
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        09-12-2008, 11:21 PM
      #12
    Showing
    It is obvious you adore the horse and I think you would regret it for a very long time if you didn't go ahead with it. In a way I can see why your grandma would not want you to use your student loan to pay for the horse. I would make sure that the bank actually allows you to do so before you make plans. I know here the student loans pay the school directly so it isnt free money.

    Because they have to sell so many other horses, would it maybe be possible for you to talk to the owners and see if you can make payments in section for her while they sell the other horses?

    That would allow you to pay for the horse yourself without touching your student loan. I think this mare is priced very fairly and I from my view, you would really regret it if you didnt get her.
         
        09-13-2008, 08:08 AM
      #13
    Showing
    Brandon, when my kids were growing up and they wanted something, we made a budget and decided if they could afford it or not.

    In your case you have $1,400 from a school loan (which I am absolutely against but that is just me).

    Horse:...................................$750.00 (incl a trailer ride to new place)
    Tack....................................~ 250.00
    1st month board ...................150.00
    Misc (feed, brushes
    Containers, etc......................100.00
    Vet check............................ 100.00
    ........................................... $1,350.00

    You have no money left for anything you need. You are going to school 2 days per week, do you have a job?

    The vet check in particular is for her teeth and a check of her back. I am being very conservative about the expenses above but you have no cushion in case any of the above runs higher. Lastly, a 17 or 18 year unregistered horse in my area would only bring $250 to $400 - and less then half that at auction. This is not a good time in the economy and with winter coming horses are going cheaper so that people don't have to carry them over the winter.

    You have an emotional attachment to Nana, no one else who comes to look at the horse will, so you have a much higher value for her in your mind then another buyer would. You see a wonderful friend, they see a 17 year old horse. The owners can "ask" any price they want for Nana but it's the market that will give the actual selling price.

    You need to think with your head not your heart when it comes to horses (and other things). I have a habit of speaking like the parent I am so that is my take on reality.
         
        09-13-2008, 12:11 PM
      #14
    Weanling
    I do have a job and I bring home about 800 a month. I understand what you are saying, but I am thinkin with my head. I haven't bought the horse yet lol, I am searchin at the moment for a place to pasture board. I don't know how much they want for Nana's tack, but I will ask.

    I have other sources of income going to come in soon, so I am not EXTREMELY worried.. I was only going to use 750 of the student loan to buy nana, then my money that I have saved up in the bank will take over.
         
        09-13-2008, 02:15 PM
      #15
    Showing
    Quote:
    Originally Posted by Brandon
    I do have a job and I bring home about 800 a month. I understand what you are saying, but I am thinkin with my head. I haven't bought the horse yet lol, I am searchin at the moment for a place to pasture board. I don't know how much they want for Nana's tack, but I will ask.

    I have other sources of income going to come in soon, so I am not EXTREMELY worried.. I was only going to use 750 of the student loan to buy nana, then my money that I have saved up in the bank will take over.
    Excellent thinking Brandon. I was in my parent mode on my last post. I hope it works for you, I know how much enjoyment my first horse brought me.

    I have 3 grown children and none of them ever enjoyed horses so it's a pleasure to read about all the young ones on here that are having fun with them. You wouldn't believe how many ponies I bought for them over the years that they were young and living at home.
         
        09-13-2008, 02:20 PM
      #16
    Green Broke
    If it was me I would get the horse lol :) you have a job and extra money I think you will be good to go! Good luck! And let me know any good news! :)
         
        09-13-2008, 02:31 PM
      #17
    Yearling
    My advice for working this out is to look at your whole budget. Look at your regular income, your irregular or one-off payments (e.g. Student loans), and your regular and irregular outgoings. Work out just how much disposable income you have, and what things you will need to save for and prepare for. Also know just how much you need to have on hand for various emergencies. That way you'll know if you have the disposable income to be able to afford a horse throughout the year ^^

    I say only use the student loan if you are confident there won't be essential things that will suffer because of it. Much as you love the horse, when you're deciding about getting her or not, you have to think about it as a luxury. "Can I afford to throw away $x each month?"
         
        09-13-2008, 05:22 PM
      #18
    Green Broke
    That is a tough decision.......... I am an impulse kind of person, but when I bought thunder I thought it out long and hard. I could not and would not take my mind off of him and those 2 weeks of decision making were so long and hard! But in the end, I decided that I could afford it, and I calculated in everthing at the most expensive it would be, like if I had to pay $400 board, ect, just in case it came down to that. Obviously in the end it worked out :)

    My advice to you is see if you can afford the basic monthly care amount, and then ask yourself what if this happened?? What if there were an emergency, what if I loose my job, what if I have to move, what if she gets injured or sick, what if in a year she has long term problems, ect and if you can handle all those things, then go for it! I don't think the initial payment for her, or school should affect your decision. I work 50 hours a week, have 2 dogs, 2 cats, and a boyfriend and I still manage to make it out to see thunder 2-4 times a week (barn has full care). Personally, I would say don't feel guilty about using the school loan money (i have friends and family that have used it for other stuff as well). If this is something you truly deep down want, then you will not allow your school or work to suffer from it. Even though this may not be the best advice, I vote yes.......there's nothing stronger than a true bond between two souls.
         
        09-13-2008, 05:30 PM
      #19
    Weanling
    Iridehorses- no your parent mode is important to me, because you did point out a few things I did not think of..
         
        09-13-2008, 05:31 PM
      #20
    Green Broke
    Good luck Brandon, let us know how it turns out :)
         

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