Saving for Horseback Riding Costs

Find out how much horseback riding costs and open a new bank account to manage horse-related expenses

Horseback riding has many benefits, including strengthening your balance and coordination and improving your mental stamina. There is always something new to learn, and many riders find the activity therapeutic and stress-relieving. However, while horseback riding is a popular hobby, the cost of having a horse can be a deterrent. If you're considering horseback riding lessons or buying a horse, Citizens Bank can help you save and manage your spending with our Circle Gold Banking® package. Open a new bank account to save for horseback riding expenses such as boarding fees, equipment and lessons. Use our guide below to better understand the costs associated with riding and owning a horse before you start budgeting for this hobby.

The cost of having a horse

From paying for riding lessons to buying and caring for a horse, there are many factors and costs to consider before you invest in horseback riding for yourself or a family member. While the average cost of having of horse is an important factor (especially when it can cost over $11,000 per year), you also need to determine your, or your family's, readiness to own, train and care for a horse. If you're thinking about owning a horse, review these common costs associated with horseback riding from and consider a trial run, like volunteering and riding at a local barn, before committing to the cost of having a horse of your own.

  • Buying or adopting a horse. The cost of a horse depends on the training a horse has, whether you purchase it from an organization or private owner, and what breed you buy. You may be able to find young, untrained horses for several hundred dollars, but you should generally expect to pay several thousand dollars for most strong breeds or trained horses. If you choose to adopt a horse from a rescue organization, adoption fees can be around $300-$800, depending on the organization.
  • Boarding, grooming and feeding. If you don't have land, full-service boarding averages around $7,500, but could range from $3,000-$12,000 annually. When just the stall and pasture are provided ($3,000) and you do the feeding, you could spend an additional $250 or more a month for food. Grooming or farrier care (brushing, hoof trim and horseshoes) for your horse may cost between $50 and $150 per month, depending on whether or not your horse needs new shoes (every six to eight weeks).
  • Veterinary costs. You may spend around $250 per year for routine care, which includes two annual vaccinations, de-worming every six to eight weeks, and having the horse's teeth checked once a year. You may also want to budget for any unexpected injuries or illnesses.
  • Training and riding lessons. If you won't be training the horse yourself, you will need training for the horse. This may be included in boarding costs, but if not, it could cost around $300-$500 a month. Riding lessons may cost around $20-$50 per hour. Both costs will vary based on the experience of trainer and rider, the styles they train in, the age and needs of your horse, and where you live.
  • Riding gear (tack, apparel and equipment). You will need to buy grooming equipment and tack (saddle pad, saddle and bridle) which can cost several thousand dollars. You'll also need riding boots and apparel. If you plan on competing, you could spend up to $15,000 on all the riding gear you need, but you can also find low-cost options if you're riding recreationally.
  • Medical and mortality insurance. To alleviate some of the costs of having a horse, you may want to purchase medical and mortality insurance policies, which will each be about five and four percent of the value of your horse, respectively.
  • Trailer. You'll need to transport your horse to and from the veterinarian, boarding facility, trails and shows if you compete. You may be able to find a used trailer for around $1,500.
  • Competition fees. If you want to enter horse competitions, open shows for the general public start at $20. However, it may cost you around $200 to enter a professional competition, and if you hire a coach, you could pay even more. Feeding, grooming and boarding costs are also likely to rise if you're competing.

Citizens Bank can help you save for and manage horseback riding costs

While riding or owning a horse is a rewarding experience, it's important to make sure you can afford the costs. Create a monthly budget for horseback riding using the expenses above, but keep in mind that prices may vary based on your specific circumstances and needs. After you've figured out the monthly cost of horseback riding, you can set aside funds in your Circle Gold Banking package. Stay on top of your horseback riding costs and easily transfer funds from your savings to checking account to make necessary purchases through online or mobile banking, PopMoney, checks or ATM withdrawals. Managing the cost of having a horse can be simpler when you use these tools from Citizens Bank.


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