Cost of Owning a Horse: June 2020 Expense Report

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

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.)

This month, I’m happy to report I came in only a smidgen over budget (<$30). Given the increased amount of horsey health expenses I’ve had in 2020, this month’s results are still a win. It’s probably also worth considering whether I should increased my target budget for 2021 in anticipation that my horse will continue to incur more health expenses as he ages.

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

• $420 // Ranch Riding Clinic & Western Lessons
  • Typically, I take 3 lessons per week (Western flatwork, jumping, and cow work). For a few months now, though, my horse has been out of commission with a popped splint and small fracture. A few friends have loaned me horses to ride in cow working lessons, so I’ve kept doing those.
  • As luck would have it, a friend also needed help keeping her mare legged up while she recovers from hip replacement surgery. I’m now riding her Appaloosa in her lessons, which means I don’t have to pay for those 🙂
  • The same friend asked me to take her horse to our barn’s Ranch Riding Clinic, so I got to do that for free too!
  • (Adjustment: I traded marketing services in exchange for these lessons.)

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

HEALTH

• $195 // Farrier
  • It was time for new shoes this month, and it was the first time my farrier had seen my horse since he popped his splint.
  • As it turned out, my shoer gave me extra insights from how that leg’s hoof is growing out — he said my horse likely caught a foot in something and popped the splint freeing himself. The “clues” in the hoof wouldn’t have shown up until more than a month after the injury though, which is why neither the vet nor I knew what had happened.
  • The good news is that my farrier agreed that things should heal fine and my horse should return to full work.
• $360 // X-Rays (Round Two)
  • The vet came to do another set of x-rays, and my horse’s leg is healing well. Yay!
  • He wants to keep him on paddock rest for one more month, then I can begin light work.

• $46.39 // SmartPak Daily Supplements
  • He gets SmartDigest Ultra Pellets, which also keeps him qualified for SmartPak’s Colicare Program.

FUN

• N/A

GEAR

• $42.53 // eBay Seller Fee
  • In June, I finally sold my used jump saddle on eBay to a lovely woman in Canada. This was the associated seller fee I had to pay the following month.
• $25.99 // Rain Slicker
  • As I mentioned last month, I’ve put this purchase off for years. It seemed like a silly expense to spend more than $100 on a rain coat… until I kept getting caught in awful rain storms! So, I asked my friends for recommendations and ended up getting an Outback Trading Pack a Roo slicker.
  • I’ve already worn it multiple times, and I love it. The hood can be cinched to stay secure, straps can attach around your legs to keep it in place while riding, and it’s plenty long enough to keep you dry walking around. 
  • Implied by the name, you can also condense the slicker into a small backpack sewn within the garment. 

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) = $1,448.54

GRAND TOTAL (After Adjustments) = $1,028.54

(Over-budget by $28.54)

Money Well Spent

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

• When I’m wrong, I say so — and I was wrong to put off getting a real rain slicker this long! It’s already saved me from getting completely drenched on multiple barn visits, and it’s only been a few weeks. I especially love that it’s not super heavy to wear — it’s lightweight, breathable, yet waterproof and seam sealed.
• It feels odd to list a fee as a good thing, but it was definitely worth it to be able to sell my saddle via eBay. If I’d tried to sell it locally myself, I’d have had to deal with people asking to try it first or meeting to deliver it. If I’d consigned it at my tack store, they’d have taken 50% of my profit. With eBay, I was able to access a lot more potential buyers and optimize my post via keywords that increased its chances of getting in front of the right eyes. And it worked!

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 was optimistic about the padded bike shorts I bought in May. Because I dislike tight waistbands, I sized up… too much, as it turns out. The shorts are pretty baggy under my jeans, and I doubt I’ll actually wear them much riding. It was worth a try, though, and I bet they’d have been fine had I gotten a size smaller. 

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: Much 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 (Round Three): My vet said a ‘final’ set of x-rays at the beginning of August would be optional, but I’m pretty conservative when it comes to my horse’s health. I’ll feel better knowing (rather than assuming) he’s truly healed enough to start light work. 

Overall, it feels good to be nearly on budget, unlike the first several months of this year. Unforeseen expenses have reminded me how important it is to save consistently. I always want to be able to keep my horse healthy and care for him when he’s injured. 

Here on Horse Rookie, we talk a lot about how expensive horses are. If you’re not sure you’re ready for the financial responsibility, remember that there are other ways to get your horse fix besides ownership.

Wear a Mask & 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:

• Horse Rookie’s Monthly Horse Expense Reports
• How Much Horses Cost & How Can You Afford One?
• Estimate Your Average Horse Cost (State by State)
• I Want a Horse But Can’t Afford One (Now What?)
• How to Ride & Show Horses Without a Trust Fund
• 7 Ways to Barter for Horse Expenses