Kept Track of All Finances ?

[Paul Lefebvre]

Bumfuzzle also kept detailed expenses. While their style of cruising may or may not be similar to yours, what I find interesting are all the items that can put you over budget in any one month!!

bumfuzzle | sailing costs

Paul

[hotspur]

Thanks for the good wishes, Mark.

Yes, we cruised the Sea of Cortez and spent very little for four... we made water with the watermaker and only stayed on a couple moorings and in one very cheap marina for a bit. We hauled out and had the bottom repainted and purchased an Engle freezer (LOVE that, btw!) AND made 3 trips to the US (only 1 of those were with the whole family). We eat out periodically, but mostly cook on board... especially with all that great fish my 14 year old catches! It is amazing to us how little we need as cruisers compared to when we lived on land!

Oh... you can throw us in with those 'Pelagic' folks anytime... we like them!

Regards!! Meri

[osirissail]

I am one of those who also tracks/record every nickel. It started 20 years ago when I couldn't fathom why there was no money left at the end of the month and I know I had not made any major purchases or costs that month. So using the "new" marvel of the personal pc I built a spread sheet (Lotus 123) and entered everything diligently. Each category did not add up to more than 5% of my income, the only problem was I had 23 categories.
- - That spreadsheet accounting system has migrated through many versions of spreadsheet software up to the current Quattro Pro X-3 I use. But some people can budget in their heads and stick to it, not me. I never believe I spent that much on that stuff unless I can open the spreadsheet and actually see the "bottom line." It is my way of damping down my urges to buy everything I think I need but really do not.
- - And it is why the threads about cruising on $1K or less per month are just put up by folks who really do not know how much they are spending and where it is going. They are looking at the tips of the icebergs and ignoring the reality of that huge mass underneath the water. Same with sailboats - they look so sleek and sexy floating on their lines - but pull them out of the water and put them in jack-stands and suddenly they look so huge and sometimes fat.

[Mariness]

Just had to put up a WooHoo for Lotus123!
Have moved on to other programs now, of course, but as a child my siblings & I were my mother's "practice class" for her software consulting business. I was probably the only 6-year-old with a working knowledge of Lotus!
Maybe that's why I like tracking things...

[capt_douglas]

I'd think it would depend on how close to the edge you were living. If you're income is $30k/year and typically spend $10K, you probably don't care as much as if you were running the bank account to $0 every month.

I tend to keep my expense accuracy at about 75%. I'll lump small items into a "living" category, but count every dime for big items (water, fuel, repairs, fees, charts, etc.). I'm out cruising, not working, and after a while have a pretty good idea of when it's time for the mac and cheese as opposed to the cheeseburger and fries.

You can do this via computer or a simple ledger and a calculator. It does give you a good idea of where the money goes and be a real benefit if you know you've got to save for that big repair.

[kb79]

one thing that seems consistently missing from all the accounting spreadsheets is the cost of health insurance. do people just not carry it, or what?

[hellosailor]

Health insurance is a HIGHLY VARIABLE cost. Some don't carry it. Others pay $1200+ per month for it. Or $200/month. It all depends on what you consider necessary, and how you can beg borrow or steal qualification for it.

You'll need to work up your own figures for that one.

[rebel heart]

We're in our slip but have been recording all of our maintenance expenses. I work on the boat maybe 10 hours a week on average. It's 35 years old.

Rebel Heart - The boat and her crew - Expenses & Costs

We use "Google Docs"; it's been terrific.

[barnakiel]

Originally Posted by kb79

one thing that seems consistently missing from all the accounting spreadsheets is the cost of health insurance. do people just not carry it, or what?

We did not.
b.

[capt_douglas]

The first time I cruised, I had no health insurance (I was much younger, and far less intelligent ), but if I were doing "due diligence" I'd keep track of insurance as well, and that means health and boat.

When I leave again, I'm going to have foreign travel insurance that'll get me home if it's serious. Out of the US coverage is surprisingly affordable so I'm looking for catastrophic health coverage.

It's just another item or two on the monthly bills and as an expense, should be counted.

[Homespun]

Here are a few links that may be helpful:

Cruising Expenses

The Cost of Sailboat Cruising Today

Voyages of Sea Trek: Cruising On a Working Class Budget

[barnakiel]

And I will just invest the insurance equivalent into a good gun. If things get that critical, I will just pull the trigger. On the second thought, in a boat and with some ocean available, I can do without the gun I guess.

BTW I think a wise health insurance option, with a reliable insurer makes loads of sense.

b.

[hotspur]

Originally Posted by kb79

one thing that seems consistently missing from all the accounting spreadsheets is the cost of health insurance. do people just not carry it, or what?

We did have Intl. insurance for my husband and the kids prior to cruising because we lived on the boat in MX 5 months before we took off. I take thyroid meds and their rates were ridiculous for me, so I'm not on the policy. It didn't end up on our year-end report because we let it lapse and haven't renewed. The cost in 2008 was $980 per year for the 1 adult and 2 children... dunno what it is now. Beats the heck out of the $580 we were paying PER MONTH back in the states for major medical only. We plan to renew the policy... thanks for reminding me!

[hotspur]

I am trying to do a cost comparison from last year and this year. Of course, we bought another boat this past January and sold our 35' Cal Cruising in March, so it's a bit askew. However, here you go. I'll get February's tomorrow and March the following day, etc...

Our Cruising Expenses for December 2008 & 2009 (Tuesday - May 18, 2010) | Expaticus

WINDFALL’s and HOTSPUR’s Expenses for January 2009 & 2010 | Expaticus