$500 v $5000 a month budget - which is best?

[44'cruisingcat]

Never tried the $5000 a month option. Anyone willing to sponsor a fact finding mission? 12 months should be enough to be certain...

[dennisail]

$5K per month? Seems pretty tight arse.

We cruised for about $10K a month for a year. That was with every cost imaginable including buying a 40 foot boat and refitting it.

Of course if you subtract the residual value of the boat comes down to less than 1K per month.

After I take my new boat sailing this weekend (3 days worth of cruising) it should average out to only about 2 million per month, which sounds like a pretty good deal really.

[El Pinguino]

If you have to ask how much anything costs then you can't afford it....

[dennisail]

Originally Posted by El Pinguino

If you have to ask how much anything costs then you can't afford it....

Not sure if serious?

[JK n Smitty]

Originally Posted by El Pinguino

If you have to ask how much anything costs then you can't afford it....

Asinine expression used to promote the consumerism driven life that most sheeple live.

[Mike OReilly]

You guys do realize DOJ started this thread as a joke, right?

[Mike OReilly]

To be slightly serious, the reason these threads rarely result in answers to this ultimate question is b/c there is no general answer. It depends on each person's lifestyle, their boat, their choices, and what they consider needs vs wants. It's the same as asking how much it costs to live on land -- it depends. It depends on where you live, the kind of house you have, your lifestyle choices, what your needs are, etc, etc, etc.

To answer the "how much does it cost" question I think you need to specify the general boat size, the location you're cruising in, the size of crew, their lifestyle needs, and likely a bunch more parameters I'm not thinking of right now.

To borrow from fine literature, you need to know the ultimate question before you can understand the ultimate answer .

[avb3]

Originally Posted by Mike OReilly

To be slightly serious, the reason these threads rarely result in answers to this ultimate question is b/c there is no general answer. It depends on each person's lifestyle, their boat, their choices, and what they consider needs vs wants. It's the same as asking how much it costs to live on land -- it depends. It depends on where you live, the kind of house you have, your lifestyle choices, what your needs are, etc, etc, etc.

To answer the "how much does it cost" question I think you need to specify the general boat size, the location you're cruising in, the size of crew, their lifestyle needs, and likely a bunch more parameters I'm not thinking of right now.

To borrow from fine literature, you need to know the ultimate question before you can understand the ultimate answer .

I think you have nailed it.

I tend to do things from a very frugal perspective.

Some examples:

Have only bought one new car in my life, way back in my 20's. Quickly figured out I didn't like payments or the massive depreciation. Last vehicle I bought was a minivan three years ago for $4k, which had cost me $300 in repairs in that time. It has safely brought me back and forth from Florida to Alberta twice.

I don't buy any processed food, with the exception of canned goods when I'm on the boat. Bake my own bread. I've had monthly food bills as low as $93 (lots of carry over), although $180-200 is more normal. Rarely eat out. Meat tends to come from hunting when in Canada, and mostly chicken in the USA, where it is about half the price. Lots of fresh fruit and veggies. I tend to shop at Aldis if available as opposed to Publix or even Walmart, and deal with a wonderful family owned veggie stand when in Florida. I don't drink so that saves tons.

I'm renovating both my condo in Florida and house in Alberta. Materials are bought at auctions or clearances. Work is done by myself. Quality tools come from pawn shops. Throw away tools from Harbor Freight or Princess Auto.

The boat I bought had most of the work done by the previous owner, yet I paid half or less from any of the same model listed on Yachtworld or sailboatlistings.com, due to the previous owner's circumstances.

Is this frugality for everyone?

Perhaps not. It does take some effort, and time. Deals sometimes seem to just happen, and one needs to recognize those. As example, T-Mobile $70 plan gives me unlimited talk, text, internet and I can even tether a laptop for up to 2.5 gig. Not having a TV helps.

Can I cruise on $500/month? Some months yes. I don't count on it though. There are just too many variables to do that regularly.

$750 a month?

NOW we're talking!

[Teknav]

Hiya Mike! One can get a good idea on how much a week's of charter cost/boat size/location. Charter companies get their numbers based upon years of being in business. Their calculations are also based on chartered boats that are five years old or less. Their profit margin is anywhere between 25% - 45%.

What do these numbers mean? Let's say that if I am invited on a friend's boat, for a week of sailing in the Grenadines, I would pitch in around $150 USD per day towards the cruising kitty; everything else being equal. For a would-be boat owner, these numbers factor in the cost of depreciation, maintenance and upkeep. If you have to start somewhere, this would be a good place to doing it.

Mauritz
The devil is in the details.

[colemj]

Originally Posted by sailorchic34

Did about 1000 miles last year. No not long distance, but not sitting at anchor either.

If you ever do manage to do 1000 miles sitting at anchor, you need to spring for some better ground tackle…

Mark

[Sea Frog]

Can't wait to go cruising at last to cut down my spendings to $5000/mo.

[valhalla360]

I think where and how you want to cruise is the underlying issue.

Some are happy to sit in an isolated anchorage for weeks on end. That makes for a pretty cheap lifestyle. Nothing wrong with it.

While we enjoy an occasional nature anchorage after a day or two, we want to see some civilization also. For us cruising is a means to see the world (including the civilized world). A boat is a great option for that but once you tie up in a developed area, it costs money.

We remember coming into New York and trying to figure out what we were going to do. We didn't like the anchorage options (either rough from ferry traffic or inconvienent for visiting the city).

At one point we were going go up the hudson and stay at a less expensive marina and come back for a long weekend...until it dawned on us that paying $75/day for a slip was far cheaper than a low end hotel room anywhere close to manhatten plus we got to sleep in our own bed and could make some meals on board. We wound up staying for 3 weeks and loved it.

To intentionally head out with the idea of budgeting only $500 doesn't sound like fun and our rule is we will cruise until it's not fun anymore.

$5k/month is higher than our budget but would be a nice sweet spot where cost isn't a primary driving factor in choices but not so great that it gets silly.

[sailorchic34]

Originally Posted by colemj

If you ever do manage to do 1000 miles sitting at anchor, you need to spring for some better ground tackle…

Mark

Ouch. I actually sleep pretty good. Well unless its above 40-50 mph. Then I'm up and down in the night. Though still have not moved even then.

[sailorchic34]

Originally Posted by valhalla360

To intentionally head out with the idea of budgeting only $500 doesn't sound like fun and our rule is we will cruise until it's not fun anymore.

$5k/month is higher than our budget but would be a nice sweet spot where cost isn't a primary driving factor in choices but not so great that it gets silly.

Even I would agree that having more money makes life a bit better. $500 is tiny for sure. Though its not quite rice and beans either. I think more realistically $750 to $1000 would open up a big part of the world for the low budget cruiser. It can be done for less, but its not a place many can or would want to get too.

Personally having less money, does seem to make life more of an adventure. Though I would probably be just as happy at $1000 a month. Gee I could get use to that.

Of course the real answer is the best budget is the one that works for each of us. It's not at all one size fits all.

[onestepcsy37]

Originally Posted by sailorchic34

I think California taxes just about everything.

sailorchic, you really need to move to florida. no personal property tax. no income tax or most other taxes.

AND, your boat (like my boat) can be registered every year for $8 if it's over 30 years old. called an 'antique' boat. otherwise would have cost me $150 a year.