Equestrians say that once they fall in love with a horse, there’s no turning back.
The total cost per year for a horse is about $3,876, according to a University of Maine study. Over 30 years, an equestrian can pay out more than $116,200.
Source: Bank Investment Consultant, September 11, 2018. Link.
While the expenses related to horse ownership may make some financial planners scratch their heads, it’s worthwhile to remember that many equine fans consider their horses family.
INSIGHTS: This is a good reminder to keep handy when you have someone come to you asking about getting their child into equine pursuits. Also, consider posting this on social media, e-newsletters or websites.