I'm planning to undertake a circumnavigation for a year. What is an appropriate monthly cruising budget?
Tom Wood responds:
Completing a circumnavigation in one year can be accomplished, but you'll do very little other than sail. At an average cruising speed of five knots, a circumnavigation takes between seven and eight months of nonstop sailing. Delays at canals, inclement weather, and mechanical problems will probably eat up some time too. Add to those the time necessary for maintenance and re-provisioning and your leisure hours to visit in port will be severely restricted.
We have seen cruising budgets range from as little as $400 per month for a family of three to over $300,000 per year for a couplethere is no upper limit on what you can spend. But $12,000 per year is a good working goal for two peoplemore crew just adds a little per person for more food and other staples. This amount does not include yearly premiums for boat, health, or life insurance, which might be quite high for such an undertaking. With as much sea time as you'll have, though, there won't be much of a chance to spend money in port.