If you add it all up, you might be surprised at how expensive it can be to own a horse. The average costs are centered around $11,000 a year, i.e. yearly costs of $100 for clothes; $1,750 for riding; $7,500 for board; $250 for routine veterinary care; $300 for farrier care; and $350 for mortality and medical insurance (for a horse with an insured valued at $5,000). If you cut back on the board to $500 a month, that would only make it $8,500 a year, still no "chump change." It is clear that for the healthy horse, the board will be the biggest expense. If you're not going with rough board, make sure you're getting all you can for that money, and lay the expenses out so you can see the big picture before you commit.
For more information, please read the story What it Costs to Own a Horse.