First Year Out Cruising: Financial Roundup

[heatherbrie]

Before we set off, one of my greatest worries was how much it would cost. The Picaroons just completed our first year cruising, so I did a big post on our blog detailing how much we spent and on what. You can read it here: One Year In: Finances | Picaroon Blog
Click on Pursers Ledger in the tag cloud on our site to get detailed monthly breakdowns.

Hope this is helpful for those planning their own adventures!

[SVTatia]

Heatherbrie

Thanks for sharing this information with us – it really help us to put things into perspective.
You may get a spike once you need to haul and antifoul, but $1400/month is pretty much in line with what I spent while cruising, and it validates the fact that this is not only a healthy lifestyle, but it also can be attained with costs that here in Canada are considered to be below the poverty line.
All we need is a rainy day fund for emergencies.

[atoll]

at $39 dollars for insurance these costs seem increadibly low.

i take it the boat is not insured,and you have no personal medical/accident insurance?

this alone would add at least a few k to the more risk aware cruiser's costs.
please don't take the observation as criticism of how you cruise,but it is a consideration for other more novice sailors.

[heatherbrie]

Atoll,
You are quite correct about insurance. We are both in our 30s and have decided to forego health insurance, in part because my husband is British so we have a backup plan in case of a serious illness. We couldn't find reasonable insurance for the boat that would fit our budget, and also had issues because all the companies we talked to wouldn't insure us without more crew or a longer time sailing the boat. We did get renters' insurance that covers our possessions in case of theft or other damage, and that's actually only $13 a month. We're comfortable with these choices, largely because health and boat insurance would take up a major part of our monthly budget and we simply can't afford it. It's always a personal choice, and any prospective cruisers should be aware that insurance adds a lot to a cruising budget.

[atoll]

thanks for posting and as you say this is a personal choice for health and property insurance.
it might be a good idea to get some type of 3rd party insurance that would only amount to a few hundred dollars a year,but cover you for personal liability and litagation should an accident happen.
this side of the pond boat yards and marinas generally won't let you use their facilities without it.
cheers atoll

[denverd0n]

Originally Posted by atoll

this side of the pond boat yards and marinas generally won't let you use their facilities without [liability insurance].

Same is generally true here in the U.S. If you're only stopping for a one-night stay, or a pump-out, most marinas won't even ask about it. But go for a haul-out, or a long-term stay at a marina, and the majority of them (at least in my experience) are going to insist that you have it.

[KenB]

Excellent list! Thanks for posting.