$3000/mo cruising budget - Page 2 - SailNet Community

   Search Sailnet:

 forums  store  


Quick Menu
Forums           
Articles          
Galleries        
Boat Reviews  
Classifieds     
Search SailNet 
Boat Search (new)

Shop the
SailNet Store
Anchor Locker
Boatbuilding & Repair
Charts
Clothing
Electrical
Electronics
Engine
Hatches and Portlights
Interior And Galley
Maintenance
Marine Electronics
Navigation
Other Items
Plumbing and Pumps
Rigging
Safety
Sailing Hardware
Trailer & Watersports
Clearance Items

Advertise Here






Go Back   SailNet Community > Out There > Cruising & Liveaboard Forum
 Not a Member? 


Like Tree204Likes
Reply
 
LinkBack Thread Tools
  #11  
Old 01-29-2014
Member
 
Join Date: Jan 2014
Location: Cruising
Posts: 44
Thanks: 4
Thanked 3 Times in 3 Posts
Rep Power: 0
Total Chaos is on a distinguished road
Re: $3000/mo cruising budget

I copied this over from Crusiers Forum... I thought it was extremely usefull. Hope I'm allowed to do this...

S/V BeBe says

"It is always somewhat amusing to me to read what people think they will spend once they are out cruising full time. The old adage was to calculate what you think you will spend.......and then double that figure and you will be close to reality. We calculated that it would cost roughly 35k to cruise very economically, and could do it on 24k if cut to absolute bare bones and did not do cosmetic maintenance on the boat. (And wouldn't that be a penny wise/ pound foolish thing to do!) We also knew that if we assumed 35k would do it, then the actual cost would likely be minimum 50k annually.

On 1 May we celebrated our 4th anniversary as full-time cruisers and I reviewed our actual expenses to date. Please note that I record every single penny we spend daily. I don't just ball-park numbers by making assumptions; I literally record every penny spent. In 4 years we have spent $212,619.72 and I posted the breakdown on our blog at S/V BeBe: Log and Costs

Boat insurance is a hefty chunk of that total and each year it is a hard decision to pay that large annual premium. But we personally knew as casual acquaintances 7 boats that have been lost in the South Pacific in the past 2 years, so we reluctantly renew the insurance each year and fork over the money. It isn't like the old days. If your boat is lost anywhere other than in open ocean, you will be responsible for paying for the environmental damage. That cost alone will be more than the annual premium for any insurance coverage. Friends recently lost their boat on a reef in Samoa and they did not have insurance. They had to pay $12,500 for hitting that reef before they were allowed to depart Samoa. As much as I would love to apply that 11.6% of our cruising expenses to being able to spend more years out here, that would be a reckless decision.

Whatever you think it will cost to cruise.....double that number."

Judy
S/V BeBe
currently in Malaysia and halfway through our circumnavigation
Melrna and Lou452 like this.
Reply With Quote Quick reply to this message Share with Facebook
The Following User Says Thank You to Total Chaos For This Useful Post:
Lou452 (01-29-2014)
  #12  
Old 01-29-2014
Member
 
Join Date: Jan 2014
Location: Cruising
Posts: 44
Thanks: 4
Thanked 3 Times in 3 Posts
Rep Power: 0
Total Chaos is on a distinguished road
Re: $3000/mo cruising budget

If you go onto Judys blog for S/V Bebe, every penny is accounted for on a sweet little spreadsheet it's worth checking out.
Reply With Quote Quick reply to this message Share with Facebook
  #13  
Old 01-29-2014
Member
 
Join Date: Jan 2014
Location: Cruising
Posts: 44
Thanks: 4
Thanked 3 Times in 3 Posts
Rep Power: 0
Total Chaos is on a distinguished road
Re: $3000/mo cruising budget

Here is a link to their cruising costs page, it's one of the better I've ever seen.

S/V BeBe: Log and Costs

Last edited by Total Chaos; 01-29-2014 at 08:21 PM.
Reply With Quote Quick reply to this message Share with Facebook
  #14  
Old 01-29-2014
Senior Member
 
Join Date: Dec 2012
Location: new england
Posts: 1,866
Thanks: 34
Thanked 35 Times in 32 Posts
Rep Power: 3
outbound is on a distinguished road
Re: $3000/mo cruising budget

Thank you for the link. Around 50k seems right. Think it's more if you do the med or west coast of Europe.
__________________
s/v Hippocampus
Outbound 46
Reply With Quote Quick reply to this message Share with Facebook
  #15  
Old 01-29-2014
ebs001's Avatar
Senior Member
 
Join Date: May 2006
Location: Ottawa, Canada
Posts: 2,172
Thanks: 5
Thanked 21 Times in 19 Posts
Rep Power: 9
ebs001 is on a distinguished road
Re: $3000/mo cruising budget

Good person financial management should always involve having a budget whether your cruising on a boat or living on land. Good financial management means keeping track of expenses. I'm a crappy money manager but my wife on the other hand has everything budgeted and tracks all spending using Quicken program.

Making a proper budget takes a lot of work initially to get figures which make sense and cover all expenses. Then a constant review is necessary to ensure the budgeted amounts reasonably reflect actual expenditures.

Can a couple live on $3,000 per month? Sure, but is that the way your going to live or is it way high? Each couple has to figure it out for their comfort level.

Some expenses:
-food
-insurance
-medical
-fuel
-maintenance
-repairs
-marina
-moorings
-booze
-entertainment
-dining out
-communications; cell phones and internet
-port entry fees
-land travel
-water
-charitable donations

On top of these there are expenses involved in land based stuff.

Last edited by ebs001; 01-29-2014 at 09:08 PM.
Reply With Quote Quick reply to this message Share with Facebook
  #16  
Old 01-29-2014
Sailboat Reboot
 
Join Date: Jun 2000
Location: On Board
Posts: 493
Thanks: 3
Thanked 29 Times in 27 Posts
Rep Power: 15
svzephyr44 is on a distinguished road
Send a message via Skype™ to svzephyr44
Re: $3000/mo cruising budget

I too was frustrated by the "it depends." I own a 42' sailboat and have done some cruising in North and Central American, Portugal, Spain and the Canaries, and in the Caribbean.

Initial Capital Costs

I owned my boat. It went through three phases: family cruiser, racer, and finally full time cruising. Each transition resulted in a major capital outlay. My racing outlay was almost completely for safety equipment: life raft, jacklines, harnesses, excellent life jackets, throwing lines, etc. Moving to cruising I had a new set of expenditures: dinghy, outboard motor, solar panels, water maker, SSB radio, email modem, satphone, mast steps, tricolor, AIS and so forth. Not to mention little things that cropped up: boom preventers, dingy hoist, etc. I strongly suggest that you make these expenditures before you retire and are living on a fixed income.

Ongoing Maintenance

Hard to quantify as it is very dependent on your cruising style. I have traveled about 4 to 5 thousand nautical miles per year since I was cruising. I have had to replace sails, paint the bottom regularly, and do a lot of small things that add up to a lot of money - I dragged in a fierce thunderstorm and had to replace the rudder, sails wear out or at least need to be restitched, shackles break, blocks pop, the wear and tear of salt water on little things like cotter pins creates a constant stream of maintenance expenses.

Clearance Costs
Where you cruise can have a major impact on your budget. I went from Key West to Guatemala. Checking into Mexico was about $400, Belize about $350, Guatemala another $350. After Guatemala I chose to return to the United States. I sailed past Belize and Mexico as just stopping in either for one night would have cost me the $350 to $400 clearance fees again. The Belize authorities came and looked for me (they apparently were tracking me on AIS) until they determined that I was just going to sail past them. Some islands in the Caribbean cost me $10 and some cost $400.

Cost of Living
I stopped at about 12 islands in the Caribbean over the course of four months. (Why is a story for another day, see my blog.) Prices in Guadeloupe rivaled those in Paris. $50 per day for groceries. $12 per pack smokes. Prices in Sint Maarten were so low that Wal-Mart would go out of business.

Dockage
Marina prices are all over the map. The winner, the Atlantis Resort on Paradise Island at $6.50 per foot per night - use of the resort was extra. Prices of $1.50 per foot were common. Mooring balls ranged from free to $20 per night. In most places it was possible to hang on the hook for free. Fuel and Water prices were pretty consistent wherever I went.

Lifestyle
I am almost always cruising solo. The only person I need to please is myself. I know many cruising couples where the need to agree results in higher costs. Not infrequently the rub is anchoring out vs going into a marina. Not to mention the need to return home to visit family. When I am out of the United States I don't fly home to visit my children. From most places outside the US that is a $1500 or more per person expenditure. It is just not in my budget. I know a not insignificant number of couples where one spouse needs to "visit family" while the other spouse sails the boat to the new destination.

The home fires
What will you leave behind? Many cruisers maintain a residence in the US. Many more have storage lockers full of stuff that doesn't fit on the boat. I have shed it all - no home, no car, no storage locker (OK my son does have a couple of boxes of memorabilia.)

Repairs
Paying someone else to repair your boat is very expensive. What is worse is that a large number of the people are totally unqualified or take the easy fix. For example I was having trouble with my refrigerator. I was told I need to spend $2000 on a new unit. A friend who knew what he was doing purchased a $150 part. That solved the problem.

Boat Parts
As bad as West Marine's reputation for high prices they are bargain basement compared to the cost of parts outside the United States. Budget Marine in the Caribbean had prices that were 135% to 150% of West Marine prices. Some countries charge import duties that can be very high. A very typical strategy is to invite friends to come visit and have them bring the parts with them to a duty free port such as Sint Maarten. Unfortunately now that the airlines are charging for extra baggage this is not the bargain it once was. Costs to ship packages outside the United States are extraordinary high by US standards. A couple of hundred dollars and a couple of weeks to get a package is not unusual.

Budget Breakers
By far for me the biggest budget breaker is meals ashore. You meet some fellow cruisers. You agree to go ashore for a couple of drinks and a meal. Goodbye budget if you do this very often

Summary
Your budget for me is generous. I sail on less. I think that $2,000 per month is a reasonable floor if you intend to do more than sit in a single place. That assumes you also carry insurance on the boat and have some form of heath care insurance in place.

FYI
1. One thing that surprised me was that the daily and monthly rates for dockage vary between the US and Europe. In the US break even for paying the monthly rate is 6 to 7 days. In Europe it is closer to 25 to 26 days.
2. If you are going to rely on Medicare remember that it provides no coverage outside the United States (OK and Guam.) Some cruisers purchase medical evacuation insurance so that they can get transported home if they get sick.
3. Remember if its "Red, Right, Return' you are in America!

Fair winds and following seas.
__________________
Roger
Sailboat Reboot
Current position
To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.

Ham: W2ZDB Reboot: WDB8435
Web Site:
To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.

Blog:
To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.

Last edited by svzephyr44; 01-29-2014 at 10:19 PM.
Reply With Quote Quick reply to this message Share with Facebook
The Following User Says Thank You to svzephyr44 For This Useful Post:
John Casey (08-27-2014)
  #17  
Old 01-29-2014
Sailboat Reboot
 
Join Date: Jun 2000
Location: On Board
Posts: 493
Thanks: 3
Thanked 29 Times in 27 Posts
Rep Power: 15
svzephyr44 is on a distinguished road
Send a message via Skype™ to svzephyr44
Re: $3000/mo cruising budget

Cruising Destinations

After I finished my previous post it struck me that there was an area that I had not really addressed in the lifestyle section: cruising destinations. If I was naive about anything (actually I was naive about a lot) it was how slow boats travel. I would decide I wanted to go to a destination, check World Cruising Routes to make sure I was at least in the ballpark of appropriate courses and times of year and off I would go. Yes, I actually soloed across the Atlantic on a whim. I have learned that planning 100 NM per 24 hour day is about right for me. I can go faster but it is much more uncomfortable, a major factor when sailing 20 to 25 days non-stop. And there are the days when the wind just does not want to cooperate. I have learned the hard way that it is as important to figure out when you will get to a destination as it is when you are going to depart. Destinations "close out" for certain seasons. I have been told you don't want to be in the Med in the winter. It takes a certain amount of courage (?) to stay in the Caribbean in hurricane season particularly because hurricane coverage will most likely double you insurance costs (for me $1300 to $2800 per year so far depending upon the cruising area with no coverage after 24 hours of single handing until I make port for 12 hours and no named storm coverage in the hurricane/typhoon belt. Some cruisers will put their boat on the hard and fly "back home" until the season reopens. Some will live aboard. Living on the hook in bad weather for 4 or 5 months is hard on the spirit. I know cruisers who were unable to get off their pitching boats for a week or more in bad weather.

Times have changed - particularly with Schengen in Europe. The need for many cruisers to get out of Europe for an extended period has made the marina costs in typical wintering over places like Turkey much more expensive. (an aside - if you are planning to cruise to Europe and don't know what Schengen is make sure you find out before you leave the United States.)

No matter what you have read in the books about cruising in Europe and the Caribbean you are just one of a few thousand boats in the game. The interest of people on shore is your wallet. The only place that I experience the old cruising "why don't you come to lunch at our place" was in Newfoundland and Miquelon Island. Cruisers in the high latitudes are still a bit rare (but not in Nova Scotia.) The Ham radio operators who took care of me on a daily basis while I was offshore invited me into their homes and drove me around to the store and to show me the sights. It was a wonderful and welcome experience.

Pets
I am the proud staff to "XO the Wonder Cat." Please see his Facebook page or watch him on Cats 101 on Animal Planet. (Note that dogs have owners and cats have "staff.") He has kept me sane more than once on long trips offshore. But having an animal on board raises another set of issues, some financial. It cost me more to clear XO into English Harbor ($50) then it did Reboot and crew ($22.) It is difficult to find someone to watch your companion for free if you want to take a multi-day shore excursion. I have not investigated putting him into paid care but rather have altered my own travel plans on his behalf.

Fair winds and following seas.
__________________
Roger
Sailboat Reboot
Current position
To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.

Ham: W2ZDB Reboot: WDB8435
Web Site:
To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.

Blog:
To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.

Last edited by svzephyr44; 01-29-2014 at 10:09 PM.
Reply With Quote Quick reply to this message Share with Facebook
The Following User Says Thank You to svzephyr44 For This Useful Post:
MarkofSeaLife (01-29-2014)
  #18  
Old 01-29-2014
vega1860's Avatar
Swab
 
Join Date: Dec 2006
Location: At Sea
Posts: 739
Thanks: 0
Thanked 18 Times in 16 Posts
Rep Power: 9
vega1860 is on a distinguished road
Re: $3000/mo cruising budget

Quote:
Originally Posted by Tallswede View Post
Don, I'm right there with you. Burnt out from working, eligible for retirement, have some savings but don't want to run out of money.

Kevin
I was there 8 years ago, except that I had a sh!tpile of debt. Sold everything, paid off the debt and quit my job. Now, debt free, we have been cruising for seven years very comfortably, averaging about $1K per month.

Groceries are now our biggest expense, but it depends a lot on mooring fees and maintenance. Our boat has run, on average over 25 years, about $100 a month for maintenance, including a new suit of sails, a new engine and one rebuild, standing rigging twice and running rigging five or six times. Mooring rates have ranged from free or low (Under $700 per year in Wrangell, AK) to over $800 a month in San Francisco.

Right now, mooring is $79 per month. Groceries are running about $500. Beer and cigars about $400 (I drink premium draft beer from a tap only). If there were a restaurant in town we might spend more but a pizza once in a while runs around $25. Internet access $25 a month, electricity at the boat around $60. Call it $1200 a month. During the summer when we are actively cruising, subtract the mooring, electricity, internet and half the beer. Make it about seven or eight hundred a month plus the occasional shoreside entertainment and temporary transient moorage.

Income exceeds outgo. Happiness

Laura is working on a detailed article about our budgeting process.
Yofy, RainDog, Lou452 and 3 others like this.
__________________

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.


To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
Reply With Quote Quick reply to this message Share with Facebook
The Following User Says Thank You to vega1860 For This Useful Post:
barefootnavigator (01-30-2014)
  #19  
Old 01-29-2014
Sal Paradise's Avatar
Captain Obvious
 
Join Date: Sep 2012
Location: New York
Posts: 789
Thanks: 13
Thanked 23 Times in 23 Posts
Rep Power: 3
Sal Paradise is on a distinguished road
Re: $3000/mo cruising budget

I would think that if you maintain a house then coming back for hurricane season should save you some money annually. Go home for 4 months, saves $12k per year minus hauling out and transport home.
__________________
Sal Paradise

Senior Researcher - Dunning Kruger
Reply With Quote Quick reply to this message Share with Facebook
  #20  
Old 01-30-2014
blowinstink's Avatar
Call me Ishmael
 
Join Date: Sep 2007
Posts: 488
Thanks: 4
Thanked 9 Times in 9 Posts
Rep Power: 8
blowinstink is on a distinguished road
Re: $3000/mo cruising budget

Quote:
Originally Posted by vega1860 View Post
Groceries are now our biggest expense, but it depends a lot on mooring fees and maintenance.
Seems to me that if you could get that seasickness under control you'd be able to manage those grocery bills

Glad you chimed in here. I was beginning to think I'd need to find 5K a month . . .
Bel007 likes this.
__________________
Come not here if you have already spent the best of yourself
Reply With Quote Quick reply to this message Share with Facebook
The Following User Says Thank You to blowinstink For This Useful Post:
ericirvine (02-15-2014)
Reply

Quick Reply
Message:
Options

By choosing to post the reply above you agree to the rules you agreed to when joining Sailnet.
Click Here to view those rules.

Register Now

In order to be able to post messages on the SailNet Community forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.
Please note: After entering 3 characters a list of Usernames already in use will appear and the list will disappear once a valid Username is entered.
User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.
Password:
Confirm Password:
Email Address
Please enter a valid email address for yourself.
Email Address:

Log-in

Human Verification

In order to verify that you are a human and not a spam bot, please enter the answer into the following box below based on the instructions contained in the graphic.




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools

 
Posting Rules
You may post new threads
You may post replies
You may post attachments
You may edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On


Similar Threads
Thread Thread Starter Forum Replies Last Post
Budget Cruising/Bluewater Cruising Cruisingdad Cruising & Liveaboard Forum 104 10-28-2014 09:35 PM
Tartan 3000, is the Hull cored? And .. how is she for Cruising jasper Boat Review and Purchase Forum 4 02-26-2009 01:41 PM
Cruising Budget? PilotMike Cruising & Liveaboard Forum 24 08-09-2007 01:05 AM
Cruising budget???? bugged Cruising & Liveaboard Forum 10 03-17-2002 08:55 PM
CRUISING BUDGET TOMWILLOW Cruising & Liveaboard Forum 2 02-11-2001 02:22 PM


All times are GMT -4. The time now is 06:47 PM.

Add to My Yahoo!         
Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2014, vBulletin Solutions, Inc.
SEO by vBSEO 3.6.1
(c) Marine.com LLC 2000-2012

The SailNet.com store is owned and operated by a company independent of the SailNet.com forum. You are now leaving the SailNet forum. Click OK to continue or Cancel to return to the SailNet forum.