Financing the Dream: Sailboat and Cruising Cash

Have you thought through how you’re going to actually finance the dream,,,,the actual cash for that sailboat and then the cash for bluewater cruising?

Or,,,,are you one of the folks who are sure that you can do it on a shoestring,,,,nearly no money,,,,make friends as you go, find work,,,,not much more than a vagrant?   Lest you think I’m joking,,,I’m not,,,those folks are out there and I know some folks who would love to live this way.   WAIT,,,,,sailboats are EXPENSIVE and you do need to eat and buy fuel somehow,,,,,but you’re probably rolling in money,,,,,or you’re a diesel engine mechanic,,,,or you’ve learned to live on bread and water and don’t really have a need for much along the way.   Except,,,,,THE HORROR:  Ganja and booze costs money and none of us are Jimmy Buffett, so how will you really finance your dreams?  Read on:

I am not a finance expert.  I am not rich.  I don’t have much money.  I do own a boat,,,,therefore I don’t have much money.  I have children and a wife,,,,therefore I don’t have much money.  I am not a certified financial planner.  I prefer riskier investments which may mean you will lose all your money if you choose to ever follow any of my advice!  – There, that’s my disclaimer and if you choose to read on,,,you do it at your own risk and possible reward.

I’m working on investing with an eye toward going bluewater cruising with my family in the next few years and want to start writing about how I’m doing that.  However, aside from my disclaimer above,,,,my methods are pretty boring and may not earn you much money,,,,cause you often need to invest large amounts of money to make large amounts of money,,,,,herein lies my problem,,,,cause I invest small amounts of money,,,,trying to make money as I go.  So, far,,,,,it’s working.  I read a lot of investment books,,,,mainly about Warren Buffet and his ways of doing business.  Here’s a few basic principles you’ll see as a theme throughout my writing:

  1. Debt sucks:  Debt sucks and I have a lot of debt but I’ve paid off one credit card in the family and am working on paying off the rest.  We’re keeping the one since it earns airline miles and paying consistently .
  2. Pay yourself first:  Every paycheck,,,,,take some out and pay yourself somehow.  Make sure you pay yourself in some way you’ll recognize and value.  Whether it’s into a savings account, a IRA or you get to buy more stocks,,,,pay yourself a little bit every paycheck so you build,,,,build and more.
  3. Love the compound interest:  Compound Interest is pretty boring,,,,till it isn’t.  Let something percolate long enough on compound interest and you’ll build something slowly,,,,,but you gotta let it ride!
  4. You can’t earn if you don’t invest in something:  You’ve probably heard about investing in yourself,,,,,I’ve done that and it’s great,,,,but now I’m investing in a bluewater sailing trip,,,,every paycheck.  Stay with us,,,,this is the fun one!

As we go through this series,,,,I’ll talk you through some things I’m working on and perhaps you may get some ideas for your own cruising money.  I’ve heard the term “cruising kitty” and hate that,,,not sure what it means,,,,I like money for cruising instead,,,cause I’m frugal but not cheap.  Stick with us,,,,,I’ll post more on this as we go!