Need help with estimating expenses :) - The Horse Forum
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post #1 of 19 Old 04-14-2013, 02:22 AM Thread Starter
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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)
PPE: $300
Shipping: $300
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)
Blankets: $200
Bridle: $20
Saddle: Already Own
Halter/Lead: $20
Splint/Bell boots (if needed): $20
Lunge equipment: $20
Wraps: $20
Flyspray: $11
Bathing: $20
Grooming Supplies: Already Own
Tack Trunk: $110
Clippers: $60
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
Dentist: $100
Insurance: $400
Board (includes hay + grain): $4,800 (2,400 for me to pay)
Total: $3,920/yr

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.
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post #2 of 19 Old 04-14-2013, 02:23 AM
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saddle fitting

The foolish reject what they see, not what they think,
The wise reject what they think, not what they see.
-Huang Po
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post #3 of 19 Old 04-14-2013, 02:27 AM
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Quote:
Originally Posted by catheetiem View Post
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.
It will be wayy more than what you expect when you become 100% responsible for any surprise bills your horse conjures up for you.
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post #4 of 19 Old 04-14-2013, 02:30 AM Thread Starter
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Quote:
Originally Posted by Canterklutz View Post
It will be wayy more than what you expect when you become 100% responsible for any surprise bills your horse conjures up for you.
Well, the insurance I'm planning on getting has $10,000 medical coverage, with a $300 deductible, so any surprise vet bills would be $300, which I would take out of my $1,000 emergency fund, unless there's some huge thing I'm missing xD
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post #5 of 19 Old 04-14-2013, 02:50 AM
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Consider the horse you are buying may need a different saddle.
Farrier 8 times a year is skimpy, again, depends on the horse.
I can barely buy one blanket for $200, let alone all the blankets for one horse. You might be able to cut down by getting an all in one system. But then if the outer shell gets torn, your horse is blanketless until you can get it fixed.
$20 for a bridle and bit is low.

The other thing to consider is that the insurance is major medical, not all medical. Companies will have a cap on how many times you can claim. Or it may only be for colic and major injuries. Not just oh my horse got a cut and needs a few stitches and antibiotics - that will be out of your pocket.
Also consider the horse may need other supplements not provided at your stable. You may need to move, etc.. etc..
What about lessons? What if the horse needs training? Who is helping you find the horse?

All things to consider - good luck!
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They say money doesn't buy happiness -- well happiness doesn't buy horses!
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post #6 of 19 Old 04-14-2013, 02:51 AM
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Not all surprise bills are medical. It can include property damage, tack replacement, blanket repair/replacement, change in feed/supplements, needing chiro, etc. All the fun stuff. Just be sure you have a fund to cover the unexpected costs.
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post #7 of 19 Old 04-14-2013, 03:28 AM
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When I was budgeting for my first horse, I went online and pretended that I would be buying the most expensive of everything, from saddles and bridles to grooming kits. That way you are over prepared financially for those sorts of things.

I'd investigate exactly what the insurance will and will not cover, for safety's sake. You don't want to go thinking that it will cover everything, have to call a vet out at all hours of the night for, say, your horse going through a fence, and find that it isn't covered.

I think you're doing a great job though. Let me just say that i am so glad I'm not in America though... That's some seriously expensive boarding compared to here!
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post #8 of 19 Old 04-14-2013, 06:27 AM
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What about a free lease ?

The foolish reject what they see, not what they think,
The wise reject what they think, not what they see.
-Huang Po
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post #9 of 19 Old 04-14-2013, 02:13 PM Thread Starter
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Quote:
I can barely buy one blanket for $200, let alone all the blankets for one horse.
I'm not sure why I said $200, I re-did it and it came to $300, must have done math wrong the first time xD. But all those things are price-checked online. I'm planning on getting a light, medium and heavy turnout, and a light and medium stable, of course could change depending on the horse.

And as for free leasing, I just see it as pointless almost. Why be responsible for all care of the horse without actually owning it, ya know? If I'm going to be paying for all of it's expenses, I would like it to be mine xD
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post #10 of 19 Old 04-14-2013, 02:17 PM Thread Starter
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**** it deleted all the rest of my reply!

Quote:
What about lessons? What if the horse needs training? Who is helping you find the horse?
I wouldn't be taking many lessons, the horse would be more of a pleasure horse than anything, maybe a few local shows. The horse would be trained already, but any issue that comes up I'd just use my personal money if a professional was required. The woman I lease from and a horsey friend of mine will be helping me find a horse :)

Quote:
I'd investigate exactly what the insurance will and will not cover, for safety's sake
The policy covers all non-routine medical care as long as it's preformed by a licensed vet, uses treatments that have been proven effective, etc. So it seems like it covers prettymuch everything.
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