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lonelylady11 · 27-01-2008, 23:45

Will we be allowed to get grant money for the excessive finance fees already paid by the reset interest rates? I think the mortgage companies should at least have to pay it back to us that have had resets. The banks are dirty rich on our backs of labor and owe us a refund and more normal interest rates going forward. Do you think the govt. can help us with the credit card interest rates that are also an overcharge?

waterworldly · 28-01-2008, 05:01

Let's see . . . the government via the FED reduces rates that banks borrow money with to under 4% and the banks lend it to you on plastic at 16-28%, with the top level going to the least able (those already in trouble or close to it), and all the politians can talk about is a $300-600 rebate once, when your interest rate on your Walmart crap is probably about . . . 300% a month. NOPE, the govenment will do nothing about this. Let's compare . . . lobbys for banks, about 100,000,000 a year, lobbys for poor folks, about $0 per year, sitting pretty as a bank . . . PRICELESS. They don't want you out of debt, they want you in debt forever, and that's a PLAN, not a guess. That's why they encourage you to just pay the minimum. Once you understand, you should get really MAD and do everything you can to pay them off. That is your only way to get back at them. Then, perhaps, you will be able to get reasonable rates on savings again. This all started back around 1980 and is now an artform.

gettinthere · 28-01-2008, 05:40

There is a very easy way to avoid those high credit card bills...pay your bill in full every month.
I pay for everything I buy with a credit card & haven't paid CC interest in 20 years. AND, I get free airfare once in a while just for using my CC. If you have a problem with CC interest payments and are looking for someone to blame, go buy a mirror. They work real well.

imagine2frolic · 04-03-2008, 15:17

It has been almost a year since chuckr, richt, and cookie's cutter have posted on this thread.....where are they now??????????????????????...hopefully sailing!

chuckr · 12-03-2008, 20:54

i am suppose to close on my house tomorrow - after a lot of setbacks - i should have rented it last year but spent to much time with the wrong broker -
soulmates is being prepared for a may departure up the east coast - i did work part time and in the mean time did put an ssb on soulmates and a few other items
will keep all informed on the cost as soulmates is a fairly new boat so maintenance cost should be down
cutting the dock lines soon
chuck and svsoulmates
ki4sry

scotte · 13-03-2008, 19:09

I was discussing a minimal cruising kitty recently with my good friend on S/V Adventure. His comment was "It doesn't matter, the boat will take everything you have".

MarkJ · 01-04-2008, 04:11

Its interesting to see the results of this poll that each bracket is running, more or less, even. Each $5k band is about 10%. I think it means that we not only can all do it but are all doing it, no matter the budget.

Its great comfort to me personally, as I know the ups and downs in investments can be factored in by living a bit more frugally for a few months (like the next few months!).

This is a great poll.

Mark

Jim St.Pierre · 08-04-2008, 05:37

Hello Everyone, this is a reply to an old post. "The cost of crusing". I think it was best defined by this quote. "a change in lifestyle is as much about philosophy as it is dollars and cents. So when you think about a budget, think about what it takes for you to be happy and enjoy life, then you'll know how much you need."
No one can really make an accurate statement to this question. Sure it would be wonderful if one had lots of zeros after a number, but I think it comes down to life style and some luck. It is like playing the weather, some days are good, some not. I/we plan on sailing/crusing short term at first (5-6 months). That will give us a good idea on how to fund our "life style". Take a look at what makes you happy, what you can do without and what your "needs" really are. Good luck all, and congratulations to the ones that have done it and to the ones that are going to do it.

Rhosyn Mor · 09-04-2008, 10:19

How much it will take for any givern person is up to them, I know my annual budget when not cruising runs about 16k a year including all boat maintenance, when cruising my annual budget runs about 12K a year. I have no passive income. I work between cruises. Currently in Annapolis at a dock. Boat is 38 feet. in well above average condition. THis year I am looking at about $8,000 going in to Rhosyn Mor in order to have her ready to leave in the winter. So this year/segment is $8K into the boat, 8K to live on for the year, and $12K into the kitty. I find that 9 months work provides about 12 months cruising kitty. Normally would not have that high a maintenance figure but this year is engine rebuild. Normally I estimate betweeen 3 and 4 thou a year into the boat the years that I work and near nothing when not working. I do all the big jobs on the boat while working so that no major problems should occur when sailing- I keep the systems very simple.

Weyalan · 05-05-2008, 16:51

Bumped for interest...

Talbot · 05-05-2008, 22:01

Quote:

Originally Posted by Weyalan

Bumped for interest...

I hope you have insurance

Weyalan · 06-05-2008, 15:24

That is what rub rails and fenders are for

But, seriously, this thread is of continuing interest to me as I try to get the financial ducks in a row (what a horrible metaphor) to be able to cut the dock lines...

VieuxMalin · 07-05-2008, 04:26

Quote:

Originally Posted by scotte

I was discussing a minimal cruising kitty recently with my good friend on S/V Adventure. His comment was "It doesn't matter, the boat will take everything you have".

Xcuse me, did he mean that one can just sail off without any income (savings &/or house rental) and he/she will be able to survive around the world with his/her boat? I doubt it can be possible...

Talbot · 07-05-2008, 07:50

Quote:

Originally Posted by Weyalan

That is what rub rails and fenders are for

But, seriously, this thread is of continuing interest to me as I try to get the financial ducks in a row (what a horrible metaphor) to be able to cut the dock lines...

Me too. I hope to be doing so as well in the next 5 years.

First I have to cut the connecting line through the bank with my X wife, then see how much money is left.