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  #31  
Old 01-30-2014
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Re: $3000/mo cruising budget

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Originally Posted by cranki View Post
My cruising plans are somewhat modest; I want to knock around New England and the Canadian Maritimes and then sail down to Florida, Bahamas, Caribbean
Of all the place you mention - and I have pretty much been in them all - my favorites were the French Isalands - Micequlon; Longlad: Saint Pierre and Newfoundland. A very short season but off the beaten path, the closest I have come to "old style" cruising with helpful and interested people on shore. I would also suggest Guatemala and the Rio Dulce. Another great favorite of mine.

Fair winds and following seas.
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  #32  
Old 01-30-2014
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Re: $3000/mo cruising budget

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Originally Posted by blowinstink View Post
Seems to me that if you could get that seasickness under control you'd be able to manage those grocery bills
The seasickness is under control now, thank you. Dramamine is cheap.

Quote:
Glad you chimed in here. I was beginning to think I'd need to find 5K a month . . .
After reading through this thread, I realize that I can't afford to go cruising after all. Time to pack it in and move ashore
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  #33  
Old 01-30-2014
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Re: $3000/mo cruising budget

I've also decided that based upon this thread, I'm gonna have to stop cruising - however, based upon my own experiences over the past decade, I can cruise like a king on $3,000 a month. I'm pretty much self sufficient, self employed and know how to catch fish better than most folks on this forum, so that can make a big difference. I also do 90 percent of my own repairs, and 100-percent of the boat's standard maintenance. Health costs are a non-issue with me, I'm old and on medicare with a $58 a month supplemental policy. I have a good dental and vision policy, that only cost me $35 a month. My major expenses aboard are gasoline and food - that's it. Whoops, almost forgot the booze expense, which is about $200 a month when I have lots of visitors, but normally much less. My Internet connections are mostly free Wi-Fi that I find pretty much everywhere I travel. Same is true for TV, which either comes in via my onboard antenna from local broadcast stations, and I get all the movies I want when I have an internet connection through www.crackle.com .

Some days I eat oatmeal for breakfast, hotdogs for lunch, and canned stew or ravioli for supper. Then there are days when I grill a salmon fillet for supper, add some vegetables to the grill while the salmon cooks, mix a tall Margaretta and pig out. Nice way to watch the sun set in the Florida Keys or Bahamas. Then there are days when a fresh caught mahi mahi hit the grill, or I bread some mangrove snapper fillets with beer batter and pan fry those rascals - OH YEAH! Wash that down with an ice cold Coors Light, turn on a good movie on the flat-screen TV and enjoy life on the hook.

Last winter, I spent less than $1,200 a month to live at a marina in the Florida Keys, and I had a ball, lived damned well, and ate out at a restaurant at least once a week.

All the best,

Gary
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  #34  
Old 01-30-2014
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Re: $3000/mo cruising budget

Health costs are all over the place.
Gary gets Medicare supplement for $58/mo, almost nothing. But you have to be 65 to qualify. At the other end of the spectrum are the invincible young people who will decide to spend zero. We're late 50's, that in between space where some of us have zero issues and others are already dead or infirm from major health issues. So each cruiser will need to evaluate this cost based on their situation. I've been self employed all my life, not dependent on some corporate or govt teet for care. So I pay for catastrophic health care and self fund the majority of routine care.
YMMV
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  #35  
Old 01-30-2014
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Re: $3000/mo cruising budget

Xort, I've been self employed since 1975, so I know exactly where you're coming from. And, at age 73, I still work 5 to 7 days a week. The difference now is I have all the work I can handle, the income is better and the expenses are considerably less than they were 20 years ago when I was shelling it out as fast as it came it.

Good Luck,

Gary
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  #36  
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Re: $3000/mo cruising budget

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Originally Posted by svzephyr44 View Post
Of all the place you mention - and I have pretty much been in them all - my favorites were the French Isalands - Micequlon; Longlad: Saint Pierre and Newfoundland. A very short season but off the beaten path, the closest I have come to "old style" cruising with helpful and interested people on shore. I would also suggest Guatemala and the Rio Dulce. Another great favorite of mine.

Fair winds and following seas.
We have similar tastes. I'll bet you know the bakery by the water, near the carosell, with the lovely lady behind the counter and the worlds best pastries!

That alone is worth the trip. Been there on Bastile Day yet?
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  #37  
Old 01-31-2014
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Re: $3000/mo cruising budget

Best way to limit a cruising budget to any level ($500 or $3000) is to limit the boat to fit. The remaining question is whether you want to live on that boat.

Size, equipment, condition, all variables.

To cruise perpetually, with no ongoing income, you likely have to own the boat free and clear. Let's face it, your assets would need to generate income to pay the loan, which means you would need more assets than you owe. Might as well pay it off. The exception might be having an annuity, like a retirement check that is used to make loan payment. However, that a very inefficient use of retirement cash flow.

Therefore, you are down to two major components, as I see it. Boat care, where you will have little choice after picking your vessel, and standard of living, where you have a lot of choice.

Personally, I want to be comfortable and be able to enjoy myself. Both are subjective. On a long term cruise, I don't need to be entertained like a never ending vacation, but I don't want to deny myself a restaurant, sight seeing, etc, for being on a voluntary budget. I also want to be able to fly to the see the kids, whenever necessary or at least a few times per year. I expect good medical care. These are not required for everyone, but that's the reason the cost to cruise is so variable.
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  #38  
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Re: $3000/mo cruising budget

Yeah, that's a good point to emphasize. The guy who figures out how to successfully cruise on $500 a month is not going to be on a 50 footer with all the bells and whistles.

I lived in some pretty spartan conditions (think "hooch") as part of my job I recently retired from.

In a lot of ways, it was always kind of refreshing to get back to basics like that.
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  #39  
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Re: $3000/mo cruising budget

Minnie- flip of that is to pay attention to your assets. If the loan is <5% ( which it is) and return on investments is >5% ( which it is) makes sense to play with other peoples money. Also get tax benefit which I will lose once (and if) we ditch the house. Owning a depreciating asset such as a boat should be looked at as a cash flow exercise. Admittedly rate of depreciation varies but given there is always some rate of inflation the longer you run a loan the more you are paying things off with "cheaper" future dollars. If appropriately positioned your investments reflect this more than the artificially low loan rates of recent years. Would keep boat fully insured regardless as it's now required in so many places and it is a major asset. In short one size does not fit all. Caveat is you always must maintain enough liquidity to pay off all loans should review suggest that's financially prudent.
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  #40  
Old 01-31-2014
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Re: $3000/mo cruising budget

travelingeasy - 73 years young !
you are incredible. I hope I'm still sailing if I make it to 73.
truly inspiring. hope you get to do another keys run.
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