Month 19 Expenses of Cruising and Living on the Boat

[sailorboy1]

This month we bled green $$$$$$. Traveled from New Smyrna FL to Fernandina Beach FL, which was a 26-hour trip and where we have been here since. Might work out as it still is a little cold to be up in the mid-Atlantic area anyway.

Had a tooth and filling break. So that required a crown and was the start of the main reason we stayed in place. But of course, having to get a tooth crowned pretty much does a number on the budget.

We did our taxes like good Americans. The only reason we had to pay taxes was to pay the penalty on an early 401K withdraw that we did to have an income to qualify for an ACA Health Plan subsidy. So, we paid $2363 in taxes to get a $13k subsidy. I did learn we took too much out because I was using our last State residence instead of using Florida that we are now residents in. Since we only paid this to get medical insurance I put the cost into the medical expense category.

Got a new charger/inverter to replace our 17-year-old OEM unit. Our original charger didn’t charge at high enough voltage for our batteries really and it didn’t like our generator, so the amps were lower. So had to run the generator twice as long and we just got tired of listening to it. The microwave also didn’t like the inverter and it just isn’t convenient to run the generator for a few minutes just to use the microwave or use the stove to reheat something small up. But in the end, I would call this more a “want” than a “need” by far as we were getting along with the old charger/inverter.

Spent a fair amount of time on land visiting our daughter and my Mother-in-Law. I find that spending time “visiting” always results in more dining out expenses.

Renewed the State registration for our boat and dinghy and the Coast Guard documentation for the boat. We “upgraded” our driver’s licenses to show we are Vets thinking we could get the discount at Lowes/Home Depot just to find that those programs are basically scams.

The total expenses were $ 7,725.08, which is a record ☹. Cost breakdown as follows for those of you planners and hecklers:

Food, soda, alcohol, clothing, sundries - $ 838.38
Boat upgrades, repairs, maintenance - $ 1,117.03
Fuel (diesel, gas, propane) - $ 51.87
Dining out - $ 892,71
Entertainment - $ 59.42
Communication, storage, shipping - $ 64.20
Fees – $ -2.45
Marina - $ 405.20
Electric - $ 0
Medical - $ 3,733.19
Transportation - $ 72.91
Gifts - $ 205.12
Boat registration - $ 287.50

[MV Wanderlust]

Ye-ouch! ...for the tooth and the budget. But things like that happen. Good information. Appreciate your willingness to share.

[Larry Florida]

You may be able to claim that early withdrawal was for medical reasons or some other hardship like being unemployed. Worth looking into.

Nice report. You are living large, 90k+ annual.

[sailorboy1]

Originally Posted by Larry Florida

You may be able to claim that early withdrawal was for medical reasons or some other hardship like being unemployed. Worth looking into.

Nice report. You are living large, 90k+ annual.

Can't from the 401k account I used last year, but I now know and hope to be able to use the "loophole" next (this) year when I do it again.

[alansmith]

thanks SB, i always read your budget. I've got 14 months now....not that i am counting till i retire

[Tigidal]

Originally Posted by sailorboy1

We did our taxes like good Americans. The only reason we had to pay taxes was to pay the penalty on an early 401K withdraw that we did to have an income to qualify for an ACA Health Plan subsidy. So, we paid $2363 in taxes to get a $13k subsidy. I did learn we took too much out because I was using our last State residence instead of using Florida that we are now residents in. Since we only paid this to get medical insurance I put the cost into the medical expense category.

Could you provide any more information or links to discussions on how this scheme to get the ACA Health Plan subsidy works? We are looking to cruise next year and still trying to bone up on health insurance options for while in the states. Both of us are US residents, currently employed here, but won't have real income when we cruise. Thanks for any assistance.

[sailorboy1]

You need $16-22k year income. It can be from jobs, investments, 401k withdraws. Go to healthcare.gov and read up on it. I’ve posted more details a few times and there’s even threads here about it.

[Maka]

Once again,,,,Thank you for sharing.

[ArmyDaveNY]

Thanks again for your info. It is a great help in planning. Thanks again.

[rosatte]

3700 for a crown Christ u could get a screw in one for half that

[sailorboy1]

Originally Posted by rosatte

3700 for a crown Christ u could get a screw in one for half that

Wasn’t 3700 for the crown

[jlcnuke]

Not sure what happened to make you think the vet discounts from Lowe's/HD were scams, I've always enjoyed my 10% off personally.

[rosatte]

Well it says medical 3700

[sailorboy1]

Originally Posted by rosatte

Well it says medical 3700

Yes, it does say that.

Maybe read the full post

[AKA-None]

Again thanks for sharing