There are many hobbies cheaper than horses, but few are as rewarding. As a pony mad child my father would tell me with ‘having a horse is like throwing £50 notes out of the window’. Then he would try to persuade me to take up bowling. But to no avail.
While it’s true horses have cost implications, with a little bit of planning and time there are many ways you can reduce the costs. Tamsin Pickeral, author of Budget Horse and Pony Care, shares her tips.
Money-saving tips
1 The most important consideration with a horse is to do your maths before you take one on. Make sure that you really do have enough spare cash each month to feed and care for another hungry mouth. Be realistic and write down ALL the costs – from farrier to insurance – it’s amazing how it all adds up.
2 Finding a sharer can half your outgoings. This is particularly good if both parties enjoy doing different activities such as hunting or dressage, or one person just wants to hack out and the other likes competing.
3 Share services with other people. Farriers, dentists, vets, saddle fitters etc will often reduce their costs if there are a number of horses for them to see in one place. If nothing else, their travel costs will be reduced when split between a number of owners.
4 Buy food and hay in bulk. The more you buy, the more you save. If you’re concerned about using it before the item’s sell-by date (eg hayledge), get together with other people on your yard to split the cost and use it up more quickly.
5 Don’t be fooled by the vast array of products on the market. It is (generally) not necessary to spend hundreds pounds on lots of different supplements and feeding them won’t guarantee you a performance horse, despite what the packaging says!
6 Some products such as leave in mane/tail conditioner can be simply and cheaply made. Mix two pints of water, two tablespoons of baby oil and one tablespoon of Listerine original.
7 Many items for your horse, such as sponges, cotton wool, buckets and brooms, are much cheaper on the high street than your tack shop. You can also try using a mild baby shampoo instead of expensive horse shampoos.
8 Keep on top of your on spending by creating a spread sheet listing all your outgoings and then keep a running record. This way you can see at a glance what you are spending most of your money on and if you are buying items that are not necessities.
9 Create an ‘emergency fund’ by paying a certain amount of money each week into a separate bank account for things like vet’s bills. Even if it’s only £5 or £10, it can add up over the year and will help pay for unexpected extras.
10 One of the best ways to save money is to look after your gear. Keep all your kit clean, oiled (where applicable), mended and repaired, and stored in a dry, rodent proof place. I have items of tack and rugs still in use that are well over 20 years old. Make sure you check all your stitching on tack regularly.
For more information
Further ideas, recipes and instructions can be found in Tamsin’s book, Budget Horse and Pony Care. For more information visit www.tamsinpickeral.com.