Cruising on $5,000 / Month

[Hudson Force]

Originally Posted by sailorboy1

Thanks, but pretty limited use for people cruising on savings.

I'm sure you're right if it's a matter of spending the savings and doling out the amount to cover an expected number of years. My thought would be that, by what ever means you establish the money availble, successful cruising means spending less than what you have.

I know this sounds ridiculously simple, but too many plan their budget by how much they can possibly spend instead of setting a mark well below what is available. We cruise on about 65% of what we have available.

[a64pilot]

Originally Posted by sailorchic34

It takes whats you gots.

Originally Posted by CaptForce

The best cruising is done at about 70% of your income, but any amount that is less than your income will suffice!

I think both of these are true (this coming from someone that has never cruised mind you), but I and my wife have been very happy living on 1/10 of what I make now, and it seems that once you get past subsistence living, your going to spend most of whatever you have, however much it is.
Double the income of someone who is living very happily on a 30 footer and I'll bet pretty soon they will be living on a 40 footer, but maybe not be any happier. Success and happiness is whatever you think it is. One thing I have learned, I don't care how nice your boat is, there is always a nicer one right across the way

[BandB]

Originally Posted by medicrene

That being said, with 5000 per month, I would hire two very attractive and liberal female crew members and get moving.

Wifey B: You obviously haven't priced very attractive liberal females recently.....hehe.

[MarkJ]

Originally Posted by CaptForce

The best cruising is done at about 70% of your income, but any amount that is less than your income will suffice!

...

Your word "income" is whats buggering up your thought with this post and your next one.
But if you substitute "budget" then you are spot on.

The word income means too many different things to people, net, gross, pre tax, after tax, after tax and other outgoings etc. an accountant may have a different view entirely.

The book The Richest Man in Babylon had the principles of saving 10% of what ever money comes in and 10% of the money you put in yur wallet.

They are effective.

So if your cruisng budget is, say $5,000 per month then each month you should put away $500 never to be touched unless an extreme reason, so its not for the anual haul out account or upgrades, its a saved amount for a rainy day.

And each time you take $100 from the auto bank for spending money you should not spend the last $10 but keep that in the back of your wallet.

One of the difficulties with cruisng is we can always spend more than we have! Easily! But the other reality that saving that 10% isnt too hard either. And very soon we wil have a full bank account and a full wallet.


Now if only I could do what I just preached!!!!

Control thy expenditures
"How," some of the men ask, "Can a man keep one-tenth of all he earns in his purse when all the coins he earns are not enough for his necessary expenditures?" "How many of you have lean purses," Arkad asks. All of the men say that they have lean purses, that they have no money. "Yet," Arkad responds, "Thou do not all earn the same. Some earn much more than others. Some have much larger families to support. Yet, all purses are equally lean. Now I will tell thee an unusual truth about men and the sons of men. It is this: That what each of us calls our necessary expenses' will always grow to equal our incomes unless we protest to the contrary." Arkad tells the men not to confuse necessary expenses with their desires, that all men are burdened with more desires than they can gratify. "Budget thy expenses that thou mayest have coins to pay for thy necessities, to pay for thy enjoyments and to gratify thy worthwhile desires without spending more than nine-tenths of thy earnings."

http://en.wikipedia.org/wiki/The_Ric..._Babylon_(book)

Mark

[Blue Crab]

My guess is that folks cruising on $5k per month wish they had $10k.

[boatman61]

All this suffering is just plain heartbreaking..

[Jimbo485]

Taking into account a wide range of countries and cruising grounds and lifestyles, almost all of us spend somewhere between 50% and 100% of whatever we used to spend while living on land. This is on an annualised basis.

[sailorboy1]

Originally Posted by Blue Crab

My guess is that folks cruising on $5k per month wish they had $10k.

I bet that applies to those cruising on $500 also.

[tomfl]

Originally Posted by sailorchic34

SNIP

including an allowance for clothing ($20- I shop at the better goodwills),

SNIP

$US20 is less than some folks I know spend on washers and dryers for their cloths in a month. Last week someone on the cruisers net was trying to sell once worn pair of Crocs for $US20.

When I am on the mainland I stock up on Crocs at the Goodwill for two dollars a pair. Also hit the big box stores for canned goods, tooth paste, toilet paper and like stuff.

Back when I was just a lad my Mom taught me 'take care of the pennies and the dollars will take care of themselves'. I suspect those who are able to live cheaply on land can do so on a boat as well. On the other hand those who eat out once or twice a day on land will do the same thing on a boat.

Different strokes for different folks.

[tomfl]

Originally Posted by BandB

Wifey B: You obviously haven't priced very attractive liberal females recently.....hehe.

Forget the 'attractive liberal' part, not sure he has priced any females.

[Blue Crab]

Originally Posted by Blue Crab

My guess is that folks cruising on $5k per month wish they had $10k.

Originally Posted by sailorboy1

I bet that applies to those cruising on $500 also.

It may but I've a hunch that the real low budget cruisers, not just liveaboards for costs reasons, have set their minds on purposely being happy with less stuff, no drinking or drugging, simple diets, self-entertainment, exercise, meditation, sewing their own minimal clothing, collecting rainwater, rowing, biking/walking, sailing not motor sailing, nature-watching, and the like. Being here now.

I think we've all seen, regardless of the jokes, that money can't buy happiness. I'd really hate to be in a position where I had to have $5k a month. My kids can fly to see me now, rather than the reverse.

But to work your butt off your whole life betting that the money will be there? Seems mighty iffy the way things are going. Better, IMHO, to learn to live with less. I doubt couples need 50' boats for example. But if you have one, I'm guessing $5k a month won't cut it.

[undercutter]

Originally Posted by boatman61

All this suffering is just plain heartbreaking..

Suffering is the word for sure. Unfortunately we only cruise 3 months of the year, however those 3 months and the 9 months the boat is on the hard sure add up.

Haven't there been many studies done that would indicate that the minimum costs to maintain a boat in seaworthy condition is between 7 - 12% of the new cost of the boat. I would guess that the minimum cost for any new boat today worth cruising in is over 500k, so .... 35,000 a year would be the minimum costs just to maintain her. Anything less and your are just deferring costs and probably going to take a major hit when it is time to sell.

2 years ago we spent over 100k on new decks and a major refit of everything forward of the salon. As soon as we got back on the boat we had to replace the DC reefer system, install new autopilot and brain, replace the windlass, etc, etc.

Last year it wasn.t as bad but the AC reefer unit konked out and now the battery charger/inverter needs replacing as well as all the batteries. On top of that the vetus bowthruster is obsolete and no parts are available so this will also have to be done after this years cruising season.

And this is on a boat built in 1999. Mind you we got the boat for 1/2 what the vendor wanted due to his lack of maintenance even though the boat was very pretty but only goes to prove that you either pay now or you pay later.

So for the 3 months we are on the boat every year I guesstimate that the daily costs is roughly 1k. Hope this improves with time as almost all the equipment and machinery has now been replaced or refurbished but 7-12% of new costs today would still be 70-120k a year.

6-10k month without living expenses.

Just saying!!!

[boatman61]

Originally Posted by undercutter

Suffering is the word for sure. Unfortunately we only cruise 3 months of the year, however those 3 months and the 9 months the boat is on the hard sure add up.

Haven't there been many studies done that would indicate that the minimum costs to maintain a boat in seaworthy condition is between 7 - 12% of the new cost of the boat. I would guess that the minimum cost for any new boat today worth cruising in is over 500k, so .... 35,000 a year would be the minimum costs just to maintain her. Anything less and your are just deferring costs and probably going to take a major hit when it is time to sell.

2 years ago we spent over 100k on new decks and a major refit of everything forward of the salon. As soon as we got back on the boat we had to replace the DC reefer system, install new autopilot and brain, replace the windlass, etc, etc.

Last year it wasn.t as bad but the AC reefer unit konked out and now the battery charger/inverter needs replacing as well as all the batteries. On top of that the vetus bowthruster is obsolete and no parts are available so this will also have to be done after this years cruising season.

And this is on a boat built in 1999. Mind you we got the boat for 1/2 what the vendor wanted due to his lack of maintenance even though the boat was very pretty but only goes to prove that you either pay now or you pay later.

So for the 3 months we are on the boat every year I guesstimate that the daily costs is roughly 1k. Hope this improves with time as almost all the equipment and machinery has now been replaced or refurbished but 7-12% of new costs today would still be 70-120k a year.

6-10k month without living expenses.

Just saying!!!

Whew... could buy my type of boat in good condition 5 times over on your annual budget.. but then.. as they say.. horse's for course's..

[donradcliffe]

Originally Posted by BandB

Wifey B: You obviously haven't priced very attractive liberal females recently.....hehe.

The going rate for attractive liberal females in Thailand/Phillipines was $10/day when I was there 10 years ago---they are really hard workers and were never taught how to whine.

[sailorboy1]

Originally Posted by Blue Crab

I think we've all seen, regardless of the jokes, that money can't buy happiness.

Maybe. But l have I lived with and without money, and it is happier to have it than not.

If you can do without that is great! But you are on the wrong thread.