Money. Cruising. Is there enough? Can we afford it?
Always big questions and Nica’s podcast this past week really resonated with a lot of people. It’s called “What If We Run Out Of Money?” (listen here; read here) and gives voice to that fear that we all have and provides some serious answers. If you haven’t already listened/read, I highly recommend it.
If you are trying to develop your own cruising budget, my article “How Much Does It Cost To Cruise?” is a discussion of the many factors that will determine your expenses.
Almost every cruiser I talk to says that the first year of cruising was considerably more expensive than expected, generally due to unplanned repairs or upgrades that suddenly moved into the urgent category. A few others found themselves making unexpected trips “home,” whether to tie up loose ends, help parents or kids, or just homesickness. It pays to have a substantial reserve fund for such items.
Living on a boat and cruising is a wonderful way of life in my opinion. And it can be done on almost any budget. But that budget has to be developed with your eyes wide open and the tradeoffs fully understood. And then you can figure out how you’ll fund it.
Remember, nothing says that you have to leave the dock with all the money you’ll need in the bank. There are plenty of ways to work as you go!
P.S. Want more info on making ends meet?
- Seven Budget Lessons (by Nica) podcast or read
- Working From A Boat
- Working As You’re Cruising (by Lin Pardey) podcast and transcript both
- The Financial Realities of Cruising
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