Controlling costs

[Jklotz]

Going over my finances for the past month, I was a bit shocked at how much we spent living on the boat. Granted, we are preparing for a Bahamas trip, and staying in some nice areas. I had to stock up on spares I might or might not ever need, had the salon windows tinted, bottom cleaning, replaced some A/C condensation hoses, bought oil and filters for everything (gen, engine, trans, dingy motor), etc, etc. Part of the problem for us is we have been in touristy areas and like to eat out, so it's close to $100 every time. All that stuff starts to add up after a while. I was prepared for slip rental, repairs I can't do myself, fuel costs, etc, but it's all the little stuff I wasn't thinking about.

So I thought this might be a good time to start a thread asking what you guys do to help control costs. We are cooking in a lot more, limiting eating out to once a week. I'm also doing a lot more shopping around for everything we need. For instance, the local hardware store on the island is crazy expensive. 8ft of hose, some hose clamps and teflon tape was almost $100 the other day! I now only go there for emergencies. I try to make a list of tools I need and go to Harbour Freight and get a bunch of things at once instead of paying $34 for a pair of channel locks because I want them now.

I'd love to hear little things you guys do to help control costs.

 

[Taras]

Anchor out
Cook your own meals
Do your own maintenance
Only buy the critical spares you need (so easy to spend thousands and thousands on spares that you will never use).
Shop around for fuel prices and plan ahead for those places.
Don't buy water, make it yourself
Cheap tools from Harbor Freight are usually good enough.

 

[Diep]

IMO it is no different in the boating context than in the rest of life. Obtaining and maintaining an awareness is the first step.

Are you LIVING on your boat or VACATIONING on your boat? Think in this context for all areas of life, not just financial. Eating out, drinking, exercise, etc. Whatever areas in life you have exercised self discipline to shape your self and your experience needs to extend to the boat as well.

It sounds like you are on the right track. Try to plan ahead for projects and you can source tools and materials for less shopping online or taking advantage of locations with larger or more competitive suppliers. Up front there is a lot of buying for the boat but some of that should subside once you are properly stocked and have kinks ironed out on the systems. Later costs should be a little less. Except when they are more.

For everything non boat related it is hard to give any specific advice. When your circumstances change watch out for lifestyle creep. You jumped into boating so be careful what habits you form and be intentional with the changes.

 

[Don L]

In my years of cruising I found the only way to really control costs was to not go to places there was to spend money. Otherwise if you have the money and can spend it you will. And thats OK as it is your money and it is useless if not enjoyed.

But not matter how expensive The Bahamas are, they were always low cost months. A month in Maine stuck in a couple of anchorages with nowhere to go turned out to be the lowest cost month.

Other than that the cost increasers are well know - marina stays, dining/drinking out, boat work

 

[Gdavid]

There are already great points made that I won't repeat.

Another consideration is monitoring the influence around you. The only budget that matters is yours, but it is easy to be influenced by others. If you are social couple, you may end up joining up with a crowd that is going out to dinner when you had planned to eat on the boat or spending a night in a marina when you originally planned to anchor out. We all have different budgets and not everyone sticks to their budgets anyway. I am years from doing any extended cruising, I may only get a couple long weekends or weeks each year, so I am more likely to eat out or take a transient slip every night because I am squeezing my fun into a sprint and not in the perpetual race you have taken on. Many loopers treat their cruising as a once in a lifetime experience and indulge themselves for a year then sell the boat.

 

[ranger58sb]

Going over my finances for the past month, I was a bit shocked at how much we spent living on the boat. ... Part of the problem for us is we have been in touristy areas and like to eat out, so it's close to $100 every time. All that stuff starts to add up after a while.

So I thought this might be a good time to start a thread asking what you guys do to help control costs. We are cooking in a lot more, limiting eating out to once a week. I'm also doing a lot more shopping around for everything we need.

I'd love to hear little things you guys do to help control costs.

You might try separating your expenses into two piles first. One for the boat. One for you. Then evaluate again.

We tend to eat out a bit more when we're traveling somewhere (i.e., after docking at a marina or whatever), but otherwise our life expenses (i.e., not boat service and repair and so forth) tend to be pretty much the same as when we're at our dirt home.

-Chris

 

[Wtrguy]

When we were young, dumb and poor, it was almost a challenge to see how little we could get by on. I loved living off of all the "affordable" fresh seafood while out there. We would leave the dock with fruit, veggies, butter, water and ice; the rest was provided by the sea. Granted, these were typically short 2-3 week trips so not a lot of provisions needed. And it was extremely rare to stay in a marina.
Now that we're older, smarter and less poor, I'm still inclined to keep my monies in my pocket whenever possible, particularly with so many hands trying to dip into said pocket. But I'm under no illusion we'll be able to remain as thrifty while living aboard.

 

[Frosty]

Re-reading, I felt like my post didn't really apply to the thread.

 

[Delta Riverat]

When traveling, I like to "eat out"

I have cooked on the boat a few times now and it is way harder than cooking on land. Even at the dock. I suspect that if we were traveling at a good anchor spot we would dingy to the dock and eat there. One time a day that is. Lunch/breakfast on the boat.

But hey, I'm talking stuff I know nothing about 'cause I never been there and done that.

But I'm thinking and dreaming...

 

[tiltrider1]

I've been telling people for years that living on a boat is not cheap. You can defer maintenance and make it look like you are living cheap but you will pay the price when you try to sell the boat. If you really want to live cheap get a tent.

That said, I live on a boat. Not to save money, but cause I just like it. My moorage costs more than I rent out a 1 bedroom unit for in my apartment complex. I don't want to live in my own building so I pay more.

Now, controlling your costs is called budgeting. We all hate it. Some of us are real good at it. I was really good at it for 30 years and now I don't need to do it anymore and yet, I still review them each month to make sure I'm not out of control.

In the end you have the basics, rent, utilities, food, insurance and maintenance. Then there are the must haves, phones, internet, auto. After that are the nice to haves and boy do we have a big list there. The nice to haves are about all you can control.

The must haves can be reduced but not easily, are you on the expensive plan or the basic plan. This is an area that can get away from you quick and is hard to rain in. $90,000 car instead of a $20,000 car. $250 internet plan instead of $75 and so on. Yet, to much raining in here and are you living or existing.

If you are within your true budget but you are just spending more than you think you should, well that's a good problem, all you need is counseling.

If your are out spending your income, well now you have a problem and for some, boating might be a dream that they can't truly afford.

 

[SteveK]

I remember the feeling of getting ready to go offshore. Stocking up, spares, etc. Felt like we were hemmorhaging money! (But then you get out there, and ahhhhhh.... )

But that part aside, thinking about your question:

1) Anchor out (but don't like marinas anyway, so it's no sacrifice).

2) Eat aboard (but not big fans of eating out, so again.... easy and can't count as being parsimonious, really).

3) Smaller/simpler boat.

4) I do anything I can myself (tho it's also just that I prefer that to having other people on my boat doing work).

5) If I don't know how but it's something I can learn, I try to do so and then do it myself.

6) If I need a tool but that means I can then do the job myself, I buy the tool. I can buy some pretty nice tools and still save money.... plus I then have the knowledge and the tool when I'm done. Win!

OTOH, we "don't save" in the following ways:

1) We buy whatever groceries we want, pretty much. No particular scrimping.

2) We buy mostly what we want for the boat (obviously not everything, but don't keep too tight a rein on it).

3) We don't worry too much about fuel, other than for range, which is the bigger issue.

@Frosty
I was wondering what to post. Thank you for saying what I would have written.
I will add, the admiral and I knew what we were getting into, this is the second boat we decided on together as I already had a boat when we met 18 years ago. We knew what we wanted to have going into retirement and along with that what it takes to keep it running. It is also true that I worked past early retirement in order to achieve the ownership of our assets debt free. Now, retired, we are hoping for many years ahead doing what we both want to do. 1st record set this year, 7 weeks cruising out of 10 great summer weeks.

 

[kthoennes]

Lots of good posts already so I'll try not to repeat, except for one thing -- eating out. Ever since that period of raging inflation post-COVID, restaurant prices -- from McDonald's to fine dining -- have gone through the roof. We eat out far more than we should, including the restaurant at our own marina and the prices still shock me - and we aren't mooring in Monaco. We have a very nice, well equipped, easy to use galley and a grille on deck, we should use it more and save a pile of money.

When I read the initial post though, I thought to myself, a lot of our boat expense is driven by my fussiness. I have a ridiculous tool collection in the dock boxes. Enough spare parts to build a second boat. If I don't like the look of something, I'll buy new. Mooring lines and fenders, perfect example. When we bought the boat it came with six decent mooring lines and six fenders -- but they didn't match. Horrors! They were all a mix of colors and types, and the fender hangers or adjusters didn't match and some were a little tired. Had to buy all new matching mooring lines and fenders and fender hangers. Some of the cabinet and drawer pulls in the salon were a little corroded and looked cheap. Replaced every one with sea green ceramic and brushed nickel pulls - FORTY of them when I was all done. The shower hoses and heads were kind of old -- worked fine, not a thing wrong with them, but looked like they came out of a 1982 RV. Replaced the heads, hoses, and faucets. The shower sump pump boxes were icky, as shower sump boxes always are. Worked fine, but I had to replace them with better, larger. And so on. If I could just live with good enough, I'd save a ton of money.

 

[mvweebles]

@Jklotz - you've started some dynamite threads. Great contributor to TF. Tip of the hat....

Start up costs are steep. Same with first year of home ownership. Before headed south from Ensenada (south of San Diego CA), I spent an obscene amount of money on SS fasteners alone. I refuse to admit to myself.

We tend to have our main meal midday or early afternoon and tend to sit at the counter or bar and share plates rather than a full entree for each. Lunch menus tend to be less expensive, happy hour drinks, and we often pick off the appetizer menu. It's still not cheap, but less than a full dinner for both, and it fits well with how we like to eat anyway.

Consequently, evening meals are on the lighter side when on the boat. Plus we tend to be ready to be 'home' in the evening. Some cheese, maybe sliced salami and crackers. We both come from modest backgrounds that neither of us shook despite retiring comfortably so while I wouldn't call us frugal by any means, we do tend to fly under the radar. Nothing pisses me off more than paying top dollar for sub-average food or service.

Peter

 

[Jklotz]

Nothing pisses me off more than paying top dollar for sub-average food or service.

This, exactly, has been my experience staying in tourist popular locations. St. Augustine, Fernandina Beach, and now Hilton Head. The other places, in between, have been sometimes good, sometimes just ok, but priced accordingly. I'm fine with that. In Hilton Head, there is a restaurant group that owns a majority of the restaurants on the island. They are so prevalent they publish their own magazine, which is free and available all over the island, promoting their restaurants. It reminds me of hotel chain restaurants. Not great, service lacking, but nice, fancy atmosphere and expensive. Good for those looking to exploit expense accounts.

After spending some time here, I have found some family owned gems. Hudson's come to mind. I've learned to befriend some locals. It takes some time, but generally, they have steered me in the right direction.

But I guess we're getting off topic here.

 

[Jklotz]

@Jklotz - you've started some dynamite threads. Great contributor to TF. Tip of the hat....

Thank you, I appreciate you saying that.

 

[ranger58sb]

I have cooked on the boat a few times now and it is way harder than cooking on land. Even at the dock.

I guess we've found we adapted to our cooking facilities, and we've adapted our cooking facilities to us. Partly with menu adjustments, partly with purpose-purchased galley stuff.

We've maybe got a semi-normal (these days) galley. Two-burner cooktop, combo oven thing... plus both slow cooker and Instant Pot (electric pressure cooker) on board. Stacking pots/pans. Decent freezer and fridge. Et cetera.

Luckily not too difficult to do a main and two sides (one, maybe a salad) plus bread or some such.

After a day's run underway, getting the boat squared away again, dealing with marina tie-up if we're in one... we do sometimes find a nearby restaurant is just easier, if there is one, in the moment.

-Chris

 

[mydacha]

Going over my finances for the past month, I was a bit shocked at how much we spent living on the boat. Granted, we are preparing for a Bahamas trip, and staying in some nice areas. I had to stock up on spares I might or might not ever need, had the salon windows tinted, bottom cleaning, replaced some A/C condensation hoses, bought oil and filters for everything (gen, engine, trans, dingy motor), etc, etc. Part of the problem for us is we have been in touristy areas and like to eat out, so it's close to $100 every time. All that stuff starts to add up after a while. I was prepared for slip rental, repairs I can't do myself, fuel costs, etc, but it's all the little stuff I wasn't thinking about.

So I thought this might be a good time to start a thread asking what you guys do to help control costs. We are cooking in a lot more, limiting eating out to once a week. I'm also doing a lot more shopping around for everything we need. For instance, the local hardware store on the island is crazy expensive. 8ft of hose, some hose clamps and teflon tape was almost $100 the other day! I now only go there for emergencies. I try to make a list of tools I need and go to Harbour Freight and get a bunch of things at once instead of paying $34 for a pair of channel locks because I want them now.

I'd love to hear little things you guys do to help control costs.

Move to Europe

 

[Jklotz]

I guess we've found we adapted to our cooking facilities, and we've adapted our cooking facilities to us. Partly with menu adjustments, partly with purpose-purchased galley stuff.

We've maybe got a semi-normal (these days) galley. Two-burner cooktop, combo oven thing... plus both slow cooker and Instant Pot (electric pressure cooker) on board. Stacking pots/pans. Decent freezer and fridge. Et cetera.

Luckily not too difficult to do a main and two sides (one, maybe a salad) plus bread or some such.

After a day's run underway, getting the boat squared away again, dealing with marina tie-up if we're in one... we do sometimes find a nearby restaurant is just easier, if there is one, in the moment.

-Chris

Yup. Our Force 10 electric range is next to useless. We got an induction hot plate and use that mostly. I think I'll buy a second one so I can do 2 things at once. That and a Ninja toaster oven is pretty much all we use. Anyway, getting off topic...

 

[rslifkin]

I guess we've found we adapted to our cooking facilities, and we've adapted our cooking facilities to us. Partly with menu adjustments, partly with purpose-purchased galley stuff.

We've maybe got a semi-normal (these days) galley. Two-burner cooktop, combo oven thing... plus both slow cooker and Instant Pot (electric pressure cooker) on board. Stacking pots/pans. Decent freezer and fridge. Et cetera.

Luckily not too difficult to do a main and two sides (one, maybe a salad) plus bread or some such.

After a day's run underway, getting the boat squared away again, dealing with marina tie-up if we're in one... we do sometimes find a nearby restaurant is just easier, if there is one, in the moment.

-Chris

Seconded. Our stove is still an old school resistive electric unit and fairly low powered (1100W per burner, 3 burners). So certain things like boiling water are slow, and I doubt I could make good fried rice on it (although I probably wouldn't try that on the boat anyway due to not wanting the smoke / oil mist in the cabin). But otherwise the stove, instant pot, and a Ninja Foodi Grill are enough to do quite a bit of cooking.

It's a more cramped space than at home and requires a little more creativity, but we generally do just fine cooking on the boat. The only thing we're really missing is an oven, and we may eventually swap the microwave for a convection combo unit to make up for it.

 

[ranger58sb]

The only thing we're really missing is an oven, and we may eventually swap the microwave for a convection combo unit to make up for it.

Our current one is a combo microwave/convection oven/air fryer, seems to work fine. I dunno what air frying is, yet... and I only chose this particular unit because a) the original combo microwave/convection oven crapped out shortly after we bought the boat, and b) it fits the built-in space.

On the last boat, we had a combo microwave/convection, worked fine. Even for Thanksgiving turkey one year...

-Chris

 

[TBill36]

Tipping may seem counterproductive, but I've found you usually get back more than you give in the long run, especially dock hands. If you ever need help you are going to get a much quicker and honest response. Once I gave $20 to a dock hand and my wife gave him another $20 not knowing I had. My son was arriving a couple days later, and the dockhand claimed my son's 31 ft boat as a tender for my 36 ft boat. Saved me about $150/day. Also, with the increased fees in the Bahamas, the boat services community is hurting. I try to do what I can to help support them. Don't be that guy that steals the toilet paper and dinghy's in to take a free shower.

 

[Don L]

Been in a house for 1.5 years after 7.5 years full time on the boat. Cost for me are the same now as when on the boat. Living on a boat can be cheap, but this thread is about cruising. Cruising probably will mirror most people's land living styles. So you will spent the same and the only "savings" will be maybe if you live in a big McMansion.

I say this from a basis of tracking and recording my money spent for 9 years. If you want a copy email me at svrubberducky@gmail.com

 

[ksanders]

I've been telling people for years that living on a boat is not cheap.

Dave you are entirely correct!

Living on a boat is just as expensive or more expensive as living at the same level in a house.

 

[psneeld]

It all depends on perspective and creativity.

My millionaire(+) friends always told me I was living the dream. I was working as an assistance tower and living on my trawler a couple slips down from my work boat, and cruising to Florida every winter. I was doing it all and carrying a passenger who only bought meager groceries.... I was doing it on less than $50, 000 a year. Then I quit the assistance towing job and lived aboard and cruised back and forth to FL from NJ (about 2500 miles/yr) on about $36,000 per year. Always had enough to enjoy myself and gift/help my kids with nice offerings and save a nice chunk too. My well off friends always said they wish they could cruise like I did. They had the boats but were tied to other interests that always seem to keep them from serious cruising.

My expenditures are from the 2010-2020 time frame...obviously maybe 15% higher now.

Not sure why people think living aboard and cruising costs the same or anything related to anything else. They are what you make them. I am not alone.... have has numerous friens met in cruising destinations that reflect costs all over the map.....it only depends on YOU.

As repeatedly inferred to in hundreds of threads and posts.... it has to be a spark, no matter what financial status you are in, to give you the incentive to cast off.

 

[La Sirena]

I'm not going to lie, it does cost money to get a boat ready to cruise long distance. Once a year before going to the Bahamas we spend about $6k on provisions. Some of that will last all year though. And its a big savings over shopping in the Bahamas where groceries are 50-100% more.

 

[Don L]

I recorded my costs on each on my trips to the Bahamas and didn't show a huge price difference really. Certainly no where near 50-100%. It made a great difference in what you chose to get stuff and where you got it.

And its a big savings over shopping in the Bahamas where groceries are 50-100% more.

 

[gettaway]

My financial advisor, who happens to be my wife, starts all new client relationships with a simple budget- she requests that the new client writes down everything they spend money on every month. mortgage, utilities, maintenance, cell phone, internet and streaming apps, food, coffee, eating out, memberships (gym, yacht club, country club etc.) the list goes on, but usually the result is the same, most people don't realize how much they spend every month on discretionary spending.
You're on the right track if you are keeping track of your spending, all of the things I listed above are ok in moderation but can easily get out of control if you aren't paying attention. I know for my wife & I, we like to eat out, and we tend to be social, which makes dining out cost more.

 

[Frosty]

I recorded my costs on each on my trips to the Bahamas and didn't show a huge price difference really. Certainly no where near 50-100%.

Fair enough but I'm still in the "stock up before you go" camp. It's never going to be easier (you may have a car, delivery, etc. in your home country), and the selection likely won't be better when you get where you are going.

Of course I still do shop locally as I go along, but always cram the boat to the rafters before shoving off initially. Have never regretted that.

 

[Captain DJ]

We cruise 100-120 days in a row every year. We stock up on everything we really like. We did not eat out for dinner even once this year and only twice last year. My wife is an excellent cook, and she says I am the best on the grill. We do stop by bakeries for pastries and fresh bread, as well as getting staples like eggs and fruit, and veggies on the trip.
When we did cost/spending analysis last season, I was surprised that one of the biggest categories was moorage at our homeport. Yes, that marina slip we left empty for three plus months was either #1 or #2 in expenses. Fuel was barely even in the top 10.

Not drinking alcohol, except on very rare occasions, has saved a lot.

Spending 4 to 6 weeks preparing the boat, doing maintenance, and provisioning really helps us enjoy a low-cost, low-stress long cruise each year. I have figured out how to cut annual moorage down by 50-60% and lower annual maintenance, but it is all theoretical at this point. It is out-of-the-box, so I will report back next year and see if it actually works.

 

[PierreR]

So far boating/cruising for us has been very expensive and will be for another year. We have spent $25k on boat repairs, insurance, seasonal slips and winter storage. The is in addition of $3,200 a month while cruising. We also do not rent our house out when we are gone and that is an additional $1,000 a month.
This winter will probably be an additional $12k in parts and $2k and travel to the boat. Our cruising the coming year will probably be 26 weeks of cruising for a total of $21k Now subtract our normal at home living expenses from this and you get about $35k extra for the boat over living in the house only.