How to Budget for Horses

Board your horse on your own property if it's possible to do so. Other options include boarding at a stable or barn. While costs can vary from region to region, expect to budget at least $300 a month for boarding at someone else's barn. Facilities can vary, but boarding costs can also include the costs for feed and hay.

Feed your horse 2 percent to 3 percent of its body weight in hay or grain per day. A horse that weighs about 1,000 lbs. would eat about 30 lbs. a day in a combination of hay and grain. Hay is sold in bales and grain is sold in bags. Multiply the number of bales and bags needed by the cost per unit to figure out the budget for feed costs. Keep in mind that some boarding facilities may include feeding costs. Also, if you do some pasture feeding of the horse, take this into account when figuring costs of purchased feed.

Include maintenance expenses in your budget. These expenses can include bedding, which is usually wood shavings or straw. Also included are veterinary costs such as worming, which is needed about two to four times a year, and vaccines, usually needed twice a year. Prepare to have a reserve budget for unexpected veterinary costs. Other expenses include shoeing the horse several times a year by a farrier, horse care products, such as bathing supplies, and special treats, such as carrots, apples and peppermints.

Account for additional expenses if you are doing specific activities with your horse. Expect to budget for travel expenses, entry fees, training and rider clothing if you are using the horse in events, such as dressage, reining or racing. Also include costs for tack, which are items, such as saddles or other pieces worn by the horse. Racehorses in particular may incur additional expenses, such as additional vet visits and costs to train the horse to race. Activity related expenses will vary from owner to owner.