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Old 11-03-2007
wind_magic wind_magic is offline
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Quote:
Originally Posted by oceanguy View Post
Short of having ALOT of money saved up, what can you do to earn money as you sail? I hear chartering is already a packed industry.
One seldom used way to earn money is to not spend the money you already have.

A penny saved is a penny earned.

Except a penny saved is actually a lot more than a penny earned. Every penny you earn gets taxed anywhere from 30% on up depending on what country you are in, so it's really only 70% of a penny by the time you get it. Whereas a penny saved is not only a penny saved but also a penny generating interest, so it is in effect a SUPER PENNY that will feed you if you save all of it's cousins too. Saved pennies are very grateful.

This method of saving money and generating interest is virtually unknown in the United States where a penny saved is only collateral to use in borrowing large sums of money.

Quote:
Also, if you know of any good books, non-fiction prefered, that cover all the aspects of long-term cruising and good destinations, please drop a line. Thank you.
"Voyaging on a Small Income" by Annie Hill, ISBN 1-888671-37-8

Definitely non-fiction.
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