Need help with estimating expenses :)
Alrighty, I need some help!
I live in Fairfield County, Connecticut, and I'm working on getting a horse.
Now, I've come up with some estimates by looking around, and I want to see how accurate you guys think they are, to see if I can really do this or if I might be getting in over my head.
So here are the initial expenses I'm figuring, all "items" (blankets, tack, etc) already found online and priced accurately:
Horse: $1,500 (would NOT be buying locally, far too expensive)
Insurance (mortality and major medical): $400
First month's board: $400 (don't worry, there IS actually a barn in my area that does full care for this price; parents would pay $200)
Medical Emergency Fund: $1,000
Board Emergency Fund: $600 (3 months payment just in case)
Saddle: Already Own
Splint/Bell boots (if needed): $20
Lunge equipment: $20
Grooming Supplies: Already Own
Tack Trunk: $110
Which comes to a grand total of.... $4,600
Now, the part that really determines if this can happen, and the part I need the most input on, is the annual expense. The initial expense is no problem, I can just save up longer if need be. A lot of these are estimates, so if anyone could give me a more concrete figure that would be awesome :)
Vet (shots + annual exam): $300
Farrier (figuring $90, 8 times a year): $720
Board (includes hay + grain): $4,800 (2,400 for me to pay)
There is definitely some wiggle room in there, the farrier I'm basing on $90 for 4 shoes, while whatever horse I end up with may not need 4 shoes. Insurance will most likely be less, but I like to overestimate.
I'm currently paying $4,200/yr for the horse I'm leasing ($1,800 out of my own pocket), so this isn't all THAT much more.
With these estimates, it's totally do-able, but I need to know if these estimates are accurate! So....what do you guys think? I really appreciate any input :)
Last edited by catheetiem; 04-14-2013 at 02:25 AM.