Cost of Owning a Horse: May 2020 Expense Report

How much do horses cost? Here’s my answer for May.

These reports are intended to be a tool for horse enthusiasts who are considering buying (or leasing) a horse and want a transparent look at the real cost of horse ownership.

(If you’re new to these expense reports, make sure to read the “reminders” section here for background on my finances.)

Those following along will know that I’ve been over-budget every month so far this year. (Note: That’s not normal.) That’s why I’m especially happy to report I finally came in under budget this month by several hundred dollars.

Summary Breakdown

Finally, remember that if you’re not exploring barter opportunities, you need to start! Sign up for our email list to get 7 ways to trade for horse expenses and lower your cash out-of-pocket burden.

Cost of Owning a Horse This Month

EDUCATION

$370 // Ranch Riding Class & Cow Working Clinic
- Typically, I take 3 lessons per week (Western flatwork, jumping, and cow work). This month, though, my horse was out with an injury. (He’ll be fine.) While I’m not doing my normal lessons, I was able to borrow a friend’s horse so I could ride in a cow working clinic and ranch riding class this month.
- (Adjustment: I traded marketing services in exchange for both events.)

If you’re taking lessons (or about to start), check out our 13 best horseback riding boots for lessons.

HEALTH

$29.99 // Vetericyn
- My horse got a small cut above his hoof, so I picked up a bottle of Vetericyn wound care spray. This is a product I keep on-hand, but my previous spray bottle stopped functioning after winter.
$68.99 // Professional’s Choice Magnetic Tendon Boots
- The following week, my gelding popped a splint bone — and a little fracture also showed up in the x-rays. My coach recommended I use these magnetic tendon boots to accelerate healing. I’ve been doing 2-hour sessions and crossing my fingers!

professionals choice magnetic tendon boots

Click to see them at Amazon

$535 // Popped Splint Vet Appointment
- It’s been a heavy few months for vet bills, and May was no exception. My horse’s popped splint bone required a vet visit, x-rays, anti-inflammatory gel, and Bute.
- The prognosis is very good, and he should make a full recovery. However, the vet estimates 2-4 months without riding. We’ll do another x-ray at the end of June to see if he can start back to work or needs more time to heal.
$46.39 // SmartPak Daily Supplements
- He gets SmartDigest Ultra Pellets, which also keeps him qualified for SmartPak’s Colicare Program.

FUN

$25.99 // German Horse Muffins
- My horse loves these molasses treats, so I got him a big bag to last us a while!
$89.95 // Pop-Up Barrels (Gift)
- While my horse heals, he continues to stay at my friend’s farm. As a token of thanks, I bought her a set of pop-up barrels to play around with for barrel racing.
- They’re lightweight, easy to store, and safer if your horse (or leg!) happens to hit one.

GEAR

($390) // Sold Jump Saddle
- I finally got around to listing my jump saddle on eBay, and it sold!
- Though I haven’t received the funds yet, I’m counting this as May revenue. eBay simply delays the funds for a few weeks since I’m a new seller.
$10.99 // Pants Clip
- A friend uses these clips to keep her jeans from bunching up while riding, and I thought it was brilliant.
- I’ve already tried them out, and I’m hooked!

Click to see them at Amazon

$5.99 // Mane & Tail Brush
- My mane and tail brush broke, so I got a replacement.
$12.99 // Padded Bike Shorts
- Don’t laugh… I need them! I’ve lost some weight during the whole COVID mess (#anxiety), and the horse I’ve been borrowing is a BUMPY ride.
- My seat bones need some relief, so I decided to give these padded shorts a try!

INSURANCE

$14.58 // Liability Insurance
- I have a liability policy in case my horse ever (accidentally, of course!) causes injury or damage. My Equisure policy covers $300,000 per occurrence and $600,000 aggregate.
$57.50 // Mortality & Major Medical Insurance
- I also have a mortality and major medical insurance policy through Northwest Equine Insurance. It covers up to $10,000 in major medical expenses and the cost of my horse if he were to die. (Note: He WILL live forever.)
$70.42 // Tow Vehicle Insurance (Progressive Commercial Policy)
$12.75 // Horse Trailer Insurance (Progressive Commercial Policy)
$12.42 // US Rider Equestrian Roadside Assistance Membership
- Think of this like AAA when you’re hauling a horse trailer. (FYI, regular roadside assistance programs will NOT service or tow horse trailers if you breakdown.)
- I have the Classic Membership Plan from US Rider.

STABLING

$0 // Board (Modified)
- My horse continues to stay with a friend while he heals from his popped splint.
- Meanwhile, I’m retaining a spot at my regular barn until he can return.
- I barter clinic marketing and management in exchange for board (or a spot, in this case).
- Board includes outdoor paddock, feed, blanketing, turnout, deworming, and access to the facilities. Boarders also get a discount on lessons.

TRAVEL

$111.35 // Fuel for Barn Visits
- This figure is an average. It’s calculated by taking the IRS mileage rate for 2019 (58 cents) x 4 visits per week x 4 weeks per month.

TOTAL (Before Adjustments) = $1,085.31

GRAND TOTAL (After Adjustments) = $715.31

(Under-budget by $284.69)

Money Well Spent

What am I particularly glad I spent money on this month?

I’m doing my best to keep unnecessary expenses down, especially while I’m paying more vet bills than usual. That said, I feel good about purchasing the magnetic tendon boots if they truly help my horse heal faster. Only time will tell, but he’s moving well… so I’m optimistic.
As far as low-cost investments go, the pants clips have been worth every penny. My jeans don’t ride up, and they’re barely noticeable under my boots.

Wonder how expensive horses are where you live? We break down the average horse cost in all 50 states.

Buyer’s Remorse

What do I regret spending money on?

I haven’t been able to try my padded bike shorts yet, so I’m reserving judgement about whether they were a smart purchase. There’s a chance they’ll look too baggy under jeans, but it’s worth a try!

Tips for Reining in Expenses (Pun Intended)

How could you save some money?

Barter, barter, barter: Periodically trading for things like board and lessons helps lower my bills a lot. Bartering is what allows me to take 3 lessons per week and ride in so many clinics. If you want to get 7 ideas for how you can trade for some of your expenses, subscribe to our email list!
Watch for price drops: If you have a product you use often, keep an eye out for sales on Amazon or in your local tack stores. Apps like Honey can help you do this automatically by applying coupon codes and checking prices for you. Click here to try Honey for free.
Compare costs before you buy: Most of the time, I make my horse-related purchases on Amazon. I love the selection, 2-day Prime shipping, and competitive prices.

On the Horizon

What’s on my wish list for the future?

X-Rays: OK, these aren’t on my “wish list,” but I do know another set of x-rays is coming in June. It’s good to be able to plan ahead for the expense.
Rain Slicker: I’ve put this purchase off for years, and I regretted it every time I’ve been caught in a rain storm and soaked. I plan to finally buy a rain slicker in the next month or two. (You know, after the rainy season.)

Even though I was under budget this month, the previous few were a testament to just how expensive horses are. If your not sure you’re ready for the financial responsibility, remember that there are other ways to get your horse fix besides ownership.

Keep Calm & Ride On!

P.S. If you hate buyer’s remorse too, check out our Horse Rookie Must Haves on Amazon for equestrian gear that’s worth every penny!

P.P.S. Buying your first horse? Check out 60 Questions to Ask When Buying the Horse of Your Dreams and our Beginner’s Guide to the Best Equine Insurance.

See More Expense Reports

Enjoy this article? Trot on over to: