How to Budget Horse Expenses

Creating and keeping a budget for your horse-related expenses can be a daunting exercise, but once you break it down it’s not so scary, and it’s part of responsible horse ownership. Without a budget, it’s difficult to manage your money and balance your expenses. Creating one will help you set a realistic limit on spending for your horse and horse-related activities, and may even help you find a way to reduce costs. 

When it feels as if you’re hemorrhaging money from the last stall on the left, taking a good hard look at exactly where all your money is going can be incredibly helpful, even if a little depressing. Although worth every single penny, you might be shocked to find out just how much your horse habit is costing.

There are many budgeting apps and templates available, but a simple Excel spreadsheet can also be used to create your budget and track expenses. I have provided an example of my current budget, which can easily be adapted to your situation, and includes both monthly and annual costs since many expenses aren’t monthly. Simply divide the annual costs by 12 to get a monthly number. My horse has a separate bank account and each month I deposit money for future expenses according to my budget. That way, when it’s time to buy supplements for example, the money is available and I don’t have to scramble. I also keep diligent track of actual monthly expenditures, so I can tell if I’m sticking to the budget. This can be set up to auto-calculate in Excel, and if you need to brush up on your Excel skills there are plenty of online tutorials available.

Basic Expenses 

To start, break down your basic monthly expenses. Depending on your personal situation this might be as simple as your boarding costs, but if you keep your own horses be sure to

 include all costs including feed, bedding, labour, waste removal, repairs, etc.