7 Years of Costs of Cruising and Living on a Boat

[Endeavor GB 32]

I for one appreciate Don's post and would like to thank him in public for posting and for e-mailing me his spreadsheet. I found it interesting and informative. I know that everyone is different and spending is variable based on income and inclinations. Like many (most?) of us, I can't argue with a thing because I never spent the time to document my spending! As I approach retirement I find it very helpful. Thanks Don!!
Regards,
Scott

 

[PierreR]

Surprisingly when I did a budget for the loop my figures came pretty close to your $55k to do the loop over a year. Little different in each category but pretty much the same. Plus we will add in our dirt home expenses.
I am nearing the end of my first year of large boat ownership and pretty well right on my figure of $25k in boat related expenses the first year. Probably the same for the second year and then it will taper off a bit.

 

[Don L]

Surprisingly when I did a budget for the loop my figures came pretty close to your $55k to do the loop over a year. Little different in each category but pretty much the same. Plus we will add in our dirt home expenses.
I am nearing the end of my first year of large boat ownership and pretty well right on my figure of $25k in boat related expenses the first year. Probably the same for the second year and then it will taper off a bit.

I would be interested in seeing that. If you don't want post you can pm me here or email to svrubberducky "at" gmail.com if willing

 

[Jeff F]

Don, thanks for sharing.

I've been living aboard mostly and traveling pretty much continuously for 5 years, and don't do detailed tracking of most expenses.

My question coming into this was mostly around the total cost of ownership for the boat. For me lots of expenses like eating out and insurance etc don't really vary between living on shore vs afloat.

Here's a brief breakdown of the TCO on my first trawler. http://boatingadventures.ca/2020/09/14/mazurka-total-cost-of-ownership/

I took those numbers to project a TCO on my current boat of about 50% higher, about 25k/yr. But there are lots of variables.

The boat maintenance costs are a tricky one. You can start with a newish boat and not spend much for ten years, and see a steep decline in residual value. Or maybe spend lots on maintenance and suffer a smaller capital loss when selling.

 

[Don L]

So I got some THC/CBD gummies today to help me sleep and help with some inflation. I know from past these also make me high enough that I can not operate equipment etc. safely.

So next month should I record the cost as general living, recreation, or medical?

 

[PierreR]

Boat was paid for in cash along with the survey, insurance and documentation.

Expenses are for getting the boat ready to bring back home, bringing the boat back home 3,400 miles, summer slip fees, boating this summer, use tax/state registration and haul out/winter storage

Boat commissioning $5,200
Fuel for 3,825 miles. More in tank than start $5,410
Miscellaneous boat expenses on trip and home $3,290
Summer slip $3,000
Use tax and reg $3,710
Haul out winter storage $5,490

Total $26,100

 

[DieselTrawlerGuy]

I really appreciate Don's post and want to thank him for posting and for e-mailing me his spreadsheet. I found it interesting, informative and helpful. Naturally everyone's costs and expenses will vary, much by boat size, boat age, boat type, region, etc. as well as by personal lifestyle, choices and needs. But I had to start somewhere and Don's spreadsheet if the perfect heads up on that. Thanks again Don!
Sincerely,