Re: Boating getting too expensive
I figure it costs me about $225-300 each time I use the boat in the summer. More if something goes wrong. This includes fuel and amortized maintinence/repair costs. I do not have a boat payment.
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OMG, do you only get out once a year? Or, do you have a yacht? Or, are your maintenance costs that high because you have a money pit? If you do proper PMs, use indoor storage and keep the boat in pristine condition what can go wrong?
You got me to thinking, so I crunched the numbers. I have several boats, so each doesn't get the use that our single boat did years ago. In any event, I used the "family" 19 footer to make the calcs.
First of all, I do 99% of the maintenance. About every 5-6 years i have a mobile mechanic come over and go thru everything. That's usually about $500, so I have to amortize that over 5 years. In between the PMs keep the boat in such good condition that maintenance costs aren't much beyond winterization. The boat was bought brand new for cash and is now 28 years old.
Anyway, its $76 per trip. That includes fuel, maintenance, insurance, registrations, gas for towcar, etc. If I divide the capital cost over 28 years that amounts to another $25-30 per trip.
With the price of divorce lawyers and shrinks,the serenity of the boat would still be worth it at your $300 trip price. If you have kids and take them too, you'll have a better chance of raising responsible adults, so that's another added benefit.
If gas goes to $20 a gallon maybe i'll get rid of the 5th boat...or maybe both the 4th and 5th. But if I have to give up boating altogether just shoot me.