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Old 02-04-2012, 18:47   #16
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Re: Just Do It

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Originally Posted by David_Old_Jersey View Post

I see that the original plan was a 2 year voyage - with $50k of cash in the pot (plus debts that needed $1k a month to feed, including $40k on a $45k boat). Am guessing that money went quicker than hoped for (it always does ).....but my bet is that the next voyage will be cheaper - would be interesting to hear your thoughts on any lessons learned.
hey david - we actually stuck to the budget pretty well. we're back because the off season provided us the time and we managed to find work. we could have done the second season without returning, but of course (and as planned) we would have been coasting in on fumes so to speak. so, we're back to make a few bucks just because we're lucky enough to be able to, not because we "have to" at least at this point.

for those interested in the budget, here are some real life, honest numbers (maybe i'll post a new thread... people tend to be interested):

discretionary boat improvements: $3K

autohelm upgrade: $5K

fixed costs (bills): $7.8K

misc cash (includes food fun and all else): $5.2K ($860/mo)

total spent from 1/10/11 through 2/6/12: $21K

hopefully next season will be a little lighter since much of the boat stuff is dialed in. i'm not counting on it though
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Old 02-04-2012, 19:00   #17
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Re: Just Do It

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...but the question is, what would have happened if you hadn't found work?
the only honest answer:

"I dunno..."
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Old 03-04-2012, 00:40   #18
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Re: Just Do It

sorry guys, accounting error:

$860/mo is right, but that adds out to $11.2, not 5.2K for a total of $27K, not 21.

anyhow.
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Old 03-04-2012, 00:55   #19
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Re: Just Do It

Sounds like everything came together for ya, I love when that happens! Thanks for sharing and please continue, I'm hoping I can convince hubby to do something similiar next year maybe.
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Old 03-04-2012, 07:52   #20
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Re: Just Do It

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Originally Posted by kb79 View Post
hey david - we actually stuck to the budget pretty well. we're back because the off season provided us the time and we managed to find work. we could have done the second season without returning, but of course (and as planned) we would have been coasting in on fumes so to speak. so, we're back to make a few bucks just because we're lucky enough to be able to, not because we "have to" at least at this point.

for those interested in the budget, here are some real life, honest numbers (maybe i'll post a new thread... people tend to be interested):

discretionary boat improvements: $3K

autohelm upgrade: $5K

fixed costs (bills): $7.8K

misc cash (includes food fun and all else): $11.2 $5.2K ($860/mo)

total spent from 1/10/11 through 2/6/12: $27k $21K

hopefully next season will be a little lighter since much of the boat stuff is dialed in. i'm not counting on it though
I just edited the above to make the info / numbers a bit more readable.

Sounds like you do have a good handle on managing your finances - and I would guess that after a year out another 6 months / year of work is no biggie - and by the time the novelty has worn off!, will be pretty much time to head back out .

But I would still prioritise paying off that $10k of credit card .
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Old 04-04-2012, 09:26   #21
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Re: Just Do It

As part of my job I deal with a lot of people who have massive debt. It is so damn easy to get out of debt in the USA as long as you don't have too high of income. I'm self-employed and with the current climate they pretty much won't let me borrow anything, but I've met some people who pretty much rack up huge amounts of debt and then file bankruptcy every so often. I know people who have an upside down mortgage they haven't paid in years, living rent free. I have also tried to collect on bad debts and know what a PITA it is.

Sometimes it's not even a good idea to pay back debt if you can help it. For example I have a student loan that's at something like .3% interest rate and essentially decreasing in value as time goes on due to inflation. And if you were cruising full time you could pretty much indefinitely delay student loans using the new income based repayment plans.
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Old 04-04-2012, 15:57   #22
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Re: Just Do It

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As part of my job I deal with a lot of people who have massive debt. It is so damn easy to get out of debt in the USA as long as you don't have too high of income. I'm self-employed and with the current climate they pretty much won't let me borrow anything, but I've met some people who pretty much rack up huge amounts of debt and then file bankruptcy every so often. I know people who have an upside down mortgage they haven't paid in years, living rent free. I have also tried to collect on bad debts and know what a PITA it is.

Sometimes it's not even a good idea to pay back debt if you can help it. For example I have a student loan that's at something like .3% interest rate and essentially decreasing in value as time goes on due to inflation. And if you were cruising full time you could pretty much indefinitely delay student loans using the new income based repayment plans.
Sorry but this sounds like freeloading to me. If you don't pay back a loan it coming out of someone else's pocket ... mine, my neighbor's, the taxpayer's ... there's no free lunch.
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Old 04-04-2012, 23:37   #23
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Re: Just Do It

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Sorry but this sounds like freeloading to me. If you don't pay back a loan it coming out of someone else's pocket ... mine, my neighbor's, the taxpayer's ... there's no free lunch.
Give me a break. The biggest freeloaders are lower and middle class families with 2-3 kids. One year of public education and child tax credits and deductions draws far more from society than a low interest student loan ever will.
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Old 05-04-2012, 00:55   #24
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Quote:
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Give me a break. The biggest freeloaders are lower and middle class families with 2-3 kids. One year of public education and child tax credits and deductions draws far more from society than a low interest student loan ever will.
Give you a break! You borrow it, you pay it back.
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Old 05-04-2012, 03:57   #25
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Quote:
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Give me a break. The biggest freeloaders are lower and middle class families with 2-3 kids. One year of public education and child tax credits and deductions draws far more from society than a low interest student loan ever will.
Your parents got these same breaks, you will get these same breaks as well should you decide to have children. I guess the mentally ill, elderly, infirm, orphaned are also all freeloaders?

The children that the state paid to assist in their education will grow up paying vastly more back into the system than what they took out, unless they become entitled and try to use other peoples circumstances to justify why they dont want to pay back a debt
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Old 05-04-2012, 05:07   #26
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Re: Just Do It

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Your parents got these same breaks, you will get these same breaks as well should you decide to have children. I guess the mentally ill, elderly, infirm, orphaned are also all freeloaders?

The children that the state paid to assist in their education will grow up paying vastly more back into the system than what they took out, unless they become entitled and try to use other peoples circumstances to justify why they dont want to pay back a debt


What he said!
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Old 05-04-2012, 06:02   #27
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Re: Just Do It

I wasn't going to add (derail?!) this thread - but I don't see what JM21 is doing "wrong". I certainly don't see it as "freeloading" - in fact more towards freemarket end of capitalism, use the rules to own advantage.

Paying back IOU's? So very last century! - for all concerned lets hope that doesn't catch on! ("Buddy, can you lend me a Trillion?").

Grabbing what you can before someone else does may not seem nice, but that is how the game works - anything else is just wishful thinking / self delusion. Not to say that I would not prefer to live in a world where things are fair (whatever that means) or a world where me contributing to the pot is for the greater good of all - but that ain't ever going to happen. JM21 simply gains on one thing - loses on another.....if he is lucky / smart will end the game ahead.
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Old 05-04-2012, 09:30   #28
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Re: Just Do It

No, the typical American will not pay back into the system what s/he has taken from the system, especially if s/he has children like the typical American does at some point. No where near. Not a chance. Maybe those in the upper middle class will have paid back what they took from society by the time they retire, but then they get on medicare and draw even more. And yes, the typical American is going to draw far more from medicare than they contributed to it.

Anyways, that's how the system is designed. Our system provides for a relatively equal launchpad for people. The vast majority will not be anywhere near rich, and many will be poor, but a small handful will become incredibly wealthy. Those who were allowed to become incredibly wealthy due to the government creating an equal field to start from then pay back into the system and support it in order to sustain the next generation.

Student loans, although unique, are just like other loans in most ways. They have the risk built in. They are for the most part one of the hardest, if not the hardest, to get rid of. The government recovers about 85% of the value of defaulted student loans. That's pretty incredible.

If there's any moral question regarding student loans and/or their repayment, it should be whether it's appropriate to lend children vast sums of money to pursue an education that may benefit society, and then put incredibly draconian penalties if they are one of the many whose education doesn't lead to superior employment. Not so many years ago a 20 year old couldn't borrow money as they could not be bound to a contract, but now it's OK to lend them $60k. Are humans so much more mature now? They aren't responsible enough to have a beer but sure they can assess the costs, benefits, and risks of an enormous loan? No, most students don't even know what their interest rate is. Not to mention how the student loan system has made higher education more and more expensive due to giving perverse incentives to schools.
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Old 05-04-2012, 10:09   #29
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All well said points...

... but i dont think those were really the issue at hand, the issue was the idea of incurring a debt and choosing not to pay it, regardless of the reasons.

And to stay in the theme of this thread and the concept of "just go" is it acceptable to pass a burden like debt on to another or society in general just because it is inconvienent to our own pursuits? Is it as DOJ states acceptable to take what we can because everyone is doing it and that something like integrity and acountability should not stand in the way of our dreams?
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Old 05-04-2012, 10:14   #30
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By the way the costs for raising a child to 21 in the uk are 218k most of which are not paid by taxpayers while the average cost for taxpayers for someone who chooses to not be accountable and sponge off the state costs taxpayers 5million, for a lifetime on the dole

http://m.guardian.co.uk/money/2012/j...y&type=article
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