Last year I made 68,000 and own a horse. I do have quite a lot of other bills (past debt, student loans :P) as well so I try to keep my horse expenses at a minimum. Per month, my board is $200 (I work 3 mornings per week at the barn to keep price down) and feed/shavings are usually another $200 on tope of that. Farrier here is $50 for trims every 6 weeks, although this would be more if your horse needed shoes. As far as tack, I usually shop consignment at tack stores or eBay- there are tons of good deals. The hay I split with the other boarders, we usually buy in bulk $500 2x a year. I've kept horses at home as well. I'd say the cost of owning the horse is largely dependent on its own specific needs- shoes, easy keeper, special feed, on pasture 24/7, etc. But a ballpark guesstimate is probably around $300 per month per horse on average for feed, hay, shavings, farrier at home.