According to the old joke, buying a horse is the cheapest thing you'll ever do. It's the part that comes after that will cost you.
There's a reason why owning horses has been considered the pastime of the wealthy.
The horse itself doesn't really have to be expensive, according to Cowgirl Magazine. You can sometimes rescue a horse for free. If you want a trained trail horse, you might pay $2,500. If you want a competitive arena horse, think $25,000.
Other expenses:
* Boarding: Outdoor boarding is about $3,600 per year, including pasture and feed. Indoor boarding can cost $6,600 per year. Home pastured horses cost about $2,200 a year for upkeep of pasture, barn, bedding and hay. You'll need to rent or own a tractor to spread manure.
* Health: Vaccinations, dental care and farrier services cost about $1,500 a year. Expect thousands of dollars more in emergency veterinary charges if the horse gets sick. Horse health insurance could help save money, but will cost about $500 annually.
* Tack and saddles: Saddle, about $800. Bridles, bits, halters, groom kit, $500. If you want to show, add a horse trailer or truck and fancy duds.
