I am assuming you don't have pasture access or the pasture has little to no grass. Your best bet would be to put your money into a good quality grass or alfalfa hay, whichever is less expensive in your area. I recommend ad lib access to hay or, at least, 3% of body weight divided 2-3 times per day. Stick with square bales. Weight for weight round bales may be cheaper, but with only 2 horses there will be a large amount of wasted and potentially moldy hay. Contrary to popular belief, supplemental feeds are generally not necessary unless you have a hard keeper or a race horse (track racing, not barrel) at intense training. It's a common misconception that horses require grain and other supplements; however, these are not natural feedstuffs for the horse and are associated with increased risk of colic and laminitis (founder). I realize the cost of hay has gone up, but don't scrimp on quality as poor quality hay can also lead to colic due to poor digestibility. To cut costs, try to limit wasted hay as much as possible and don't bother with supplemental feeds (they're expensive and not necessary). Hope this helps.

OkGhostrider has summed it up to a "T." I'll add if you really can't afford to feed them properly, as OKG outlined for you...start looking for a good home for at least one of them. Short change them in their feed and not only with they start to go down in the quality of their health, but you will be liable for charges of NEGLECT at some point in time. It's hard and sad, and I'm really sorry for your situation, but you have to put your horses ahead of other things, even if it means one or both have to go to good homes. You might also see if there are any other horse owners nearby who would be interested in "going in on" a delivery of feed with you, sometimes you can save some money that way as you are ordering MORE than you would singly and they may give a discount! Another possible help would be to consider "leasing" one or both of them out to someone by the month. They stay at YOUR location, and an approved rider comes and rides them there, if it's possible. You'd want to draft a simple contract for them to sign that just says what you both agree to and both sign, including a RELEASE FROM LIABILITY towards YOU and your stock, for any injury or accident to the rider. If this would work but you aren't sure what to charge, call around, many stables will lease a horse by the month to interested people, charge $10.00 less than what you are quoted. I hope and pray things take a turn for the better for you soon, but don't buy cheap feed, it's not worth it and I've worked in rescue too long and seen too many abused horses. The owners never MEANT to be abusive, but the condition of the animal was so bad, it still was...abuse by starvation.

How many horses do you have? In Australia if you dont receive aid from other ranchers alike, you buy hay, otherwise we would move our horses down the country roadside to eat the grasses on the side that go to waste.