Annual Live Aboard Budget ?

[ssullivan]

$15K annualy is my figure, not counting major breakdowns, etc....
I am living aboard full time.

[Gallivanters]

Certainly cheaper than being a Dirt Dweller.

I abandoned all career persuits and set off with a thousand dollars in my pocket 12 years ago. And after 25,000 nautical miles and smiles... I still have that $1000.

I figure that for every week we work we save enough to play for a month... or more.

Our last big voyage was a two year meander from Guam to St Thomas which cost us about $18,000 USD while traveling 16,000 nm. This boils down to $750 per month or just over a dollar per mile - for two people. Fortunately, we've never had any catastrophic failures. And we always ate well and had cold drinks in the fridge.

We definitely spend more money when we settle-down in port for a while... but we MAKE more money, too.

Now - we have a bigger boat and a new son to share this great adventure with.

Life afloat is good... and it doesn't cost too much, either.

[Alan Wheeler]

Sean! US$15K?? Thats about NZ$30K and is about what I earn. Arrrr I know, it's that Venison you dine out on eh!?!

[ssullivan]

Ha ha ... wheels... no... things are just expensive. We don't dine out at all. It's our pesky payments on some financed items, cell phones, diesel (for fuel and electricity), food, etc... and incidentals like printer ink. In my never-ending strokes of breakdowns, I just had my PalmOne Treo quit on me. DAMN! Another $500 down the drain. I'm getting tired of all this cheap crap. I still envy Kai Nui's boat.... no systems. That's the way to do it. Anybody got an unlocked Treo for sale?

But yeah... $15K is the budget... that's just what it seems to cost to keep a car (getting rid of it), eat, have cell phones and run a boat. Oh, and have internet access. That's how they keep us USA folks on the treadmill.

[CaptainK]

I would have to agree with Sean. With my proposed annal budget of between $12,000 to $15,000 per year. If still sitting here in the US.

As for my car the 1994 Kia Sephia. Last week. I dumped alot of money into her. She's now running like a brand new car. But it hurt my boat buying budget. DAMN!! How life seems to hit you sometimes!!

Back to the drawing board, once again. And onto looking around again for another boat. Arrgh!!!

By the way everybody. I am no longer mentioning anything about that Caltaina 27, that I had my eye on!! Arrgh!!!

Sean, don't envy me too much. I am happy on that boat, but I can only get my wife to spend about 3 or 4 days at a time without a few luxuries. Still, if I was 20 something again, it would be a first class trip to cruise Kittiwake.

[CaptainK]

I second Kai's notion on being 20 something all over again.

If I could retain the knowledge I know now. And live through my 20's up to my present age again.

I'd probably at my present age right, have a boat similiar to the "irwinsailors" boat. Big. And plenty of room on board. And out there doing it!!:cubalibre

[Alan Wheeler]

Arrr I see. I guess it is how we look at "cruising budget". I don't include those type of luxuries like cell phone etc. I see those as add on's. I look at a crusiing budget as... general maintenance, slip fee's, yearly (or for me two yearly) haulout and clean and anti-foul. Fuel. Food of course and the list goes on. Then there are a few that need to be tagged in to a longer term budget. Like sail replacment somewhere down the track, rig replacement, even flare updates when they expire. These "down the track" items tend to big ticket items and need to be factored in and budgeted for if the boat is long term ownership.
Some cruisers also factor in Airfares fro traveling home. For me, that wouldn't be a cruising budget item. If I had to fly home, it would be an emergency.

[Starbuck]

Kevin,

You're still ahead in your expenses. What would it have cost you to replace that car, vs. what it cost you to get this one running, and what do you have now, with no payment?

Your kitty took a hit up front, is all. In the long term, it will pay.

And that relates to the topic.

[Jack Tar]

I think a lot will relly on the size of your boat and your location. Heating bill for winter and so on. It's not going to cost near as much to live on a 30 or 35 foot boat as it is to live on something larger like 51'. With liveaboard fee at $100 per month and large boat slip fee at $10 a foot .
Working, not working. Husbund and wife / single . Retired / Not retired ?
too many variables here.

[CaptainK]

Hey...CaptainJeff.

My present car is the 1994 Kia I mentioned earlier. Yeah. I got set back on my kitty funds. And my car is running like a stallion again.

At least with this car. I have no monthly car payments. This car is totally paid for. And I only paid $700.00 for the car in September of 2004. To date I only have only paid out, plus the most recent event just barely over $2,000.00 US. In parts and the usual upkeep things that were needed to make sure she's road worthy.

The last shell out was by far the most costly repair that had to be made. And we're talking about a wiring harness that runs throughout the entire engine compartment. And with it being summer here in Phoenix Arizona. And the average temperature lately of around 108F. I'd be damned if I would crawl around the compartment uninstalling/installing the new wire harness.

At least my car "now" runs. Making more money to save for my next "target selected" boat.

Thanks for asking Jeff.:cubalibre

Oh yeah. And another thing about my car. Is that the insurance is cheaper too. And that I'm a good driver. Especially since I live in a major city. Every little bit helps out, towards saving up for a boat.

[Jack Tar]

This post should have been called putting the cart before the horse. Wait until you have your crusing / liveaboard boat. You budget will go right out the window. Once we moved aboard I had to re evaluate to whole senario.
I didn't plan on things like not having a refridgerator like in a house. Not having a washer / dryer. Not having a large kitchen to cook in and prepare meals. No garage to work on things or repair the car. No place to spred out and work on projects. Don't get me wrong but having to change your whole way of living creates just as much exspence as living in a house.

My diesel tank aboard holds 400 gallons = at $3 a gallon = $1200 fill up.
Having to do oil changes on the car outside or pay to have it done $$$
Laundrymat $$$
Renting shop space for projects (remodel) $$$
Car Wash $
Food $$
Pump outs $
Haul for paint & Maintenance $$$
Im just sayiing be open minded when it comes time to change. Also be receptive to your wifes ideas of how life aboard should be.

[ssullivan]

I agree... basically with everyone. Jack Tar has it right. The minute you get on the boat, your budget is SHOT. You have to completely re-calculate everything. So many "I need to have's."

Kevin - you are indeed doing the right thing with the Kia no matter how painful. You mean to say you got around since 2004 for $2700? That is something a lot of people don't learn in life and saving for a boat while they continue driving the Lexus or whatever other item gets them from point A to B.

Wheels: I find a cell phone an absolute must. Not everything I need can be figured out via VHF. I have to call marinas and hardware stores very frequently, or face using up more money in dinghy gas than the phone costs. But I understand. I think if I were to pare down the budget to include only boat expenses (and the fact that I anchor out 100% now), it would probably be closer to $10K. Maybe $12K?

[Weyalan]

I think that the point is that there is no magic figure...budgeting for living aboard a yacht is the same as budgeting to live in a house...but different. Obviously, there are costs associated with living aboard that you don't have when living ashore, and costs associated with living ashore that you don't have when living aboard.

At the end of the day, the budget for living aboard will be no more or less than your income! If that income is $10,000 per annum, then that will be your budget. If your income is $100,000 per annum, then that's your budget. Simple as that.

I am, at the moment, putting things in place that will generate passive income for me, so that I can, in the future, step onto my yacht and take off and sail, indefinitely, and live off of passive income. In my case, this has meant liquidating all my assets (except the boat, heh heh) and handing over a big fat cheque to a funds manager, with instructions to maximise my capital growth... Leaving aside the soul-searching, worry and heartache associated with selling assets (predominantly, my house) and placing my faith in the growth of a managed fun, I now have to sit back and hope that the capital does grow as projected...and then I have to decide when the capital is sufficent to switch to maximum income rather than maximum capital growth... which will be when I take off.

I am guessign that the day I leave will be not less than 5 years from now, but not less than 7 years...but the point is, when I do go, the budget will be whatever the passive income is. There is no "magic number" to aim for, just a date to set...and see what I have then.

[Alan Wheeler]

Well said Weyalan. Sean what I was refering to was not that the cellph was important or not, but I was alluding to what Weyalan has stated above. People ask about cruising budget and I think cruising or live aboard or what have you, is different to the plain ole everyday "living" budget. Would I be correct in saying that those that ask this question are trying to figure out if they would be ahead or behind their normal income if they lived aboard or not? And if their income was to take a drop from say, retirement from the "real world" then can they cope. That means "luxury items" like Cellph would and should not be factored in. A cellph for instance, isn't essntial to owning a boat. A VHF isn't essential to owning a boat. Electronics aren't essential either. All that stuff can be left out and still we can live on board. They are very handy and I wouldn't want to boat without many of the above items either. But I wouldn't place them in a budget of actual have to's to be able to live on board. Does that make sense???
so I see the essential have to's are things like the haul outs, the paint jobs, the sail and rig replacement, the fuel, the marina costs if you choose to stay in a marina and so on and so on.