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Catalina/Capri 25/250 Sailor's Forums

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slush fund

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Frank Hopper
Past Commodore

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Pitcairn Island
6776 Posts

Initially Posted - 02/19/2008 : 14:13:32

How much do you budget for annual boat expenses that are specific to the boat itself?
Bottom paint
Teak oil
some new hardware
some new lines
some new canvas
a little teak do dad
a fender or two
a hat that makes me look dashing
stuff

I am a school teacher with a modest income but am realistic about how much it costs to own our boats. I find it difficult not to spend about a grand a year so that is my target slush fund for the boat.

Edited by - on

Nautiduck
Master Marine Consultant

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USA
3704 Posts

Response Posted - 02/19/2008 : 14:44:28

$100 per month for boat stuff. Not including slip fees, etc.

Edited by - on

John Russell
Master Marine Consultant

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USA
3444 Posts

Response Posted - 02/19/2008 : 14:52:18

Don't say slush in February.

Seems like I spend a lot but, maybe that's cuz this is all pretty new yet. Hope I'll slow down soon. I just bought a new genoa, my wife wants a bimini (so do I but if I say she wants it, I feel less guilty) and I want a tiller pilot.

Although, my teenager just got a full ride academic scholarship to her first choice college. Maybe I can afford a few more doo-dads.

Edited by - on

dlucier
Master Marine Consultant

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Virgin Islands (United Kingdom)
7583 Posts

Response Posted - 02/19/2008 : 14:56:58

I generally don't set a budget, but in the last few years with most of the major projects crossed off the list, I spend very little over the regular operational costs(gas, bottom paint, slip fees, storage,...etc). Last year, I might have spent maybe $200.00 over my regular fixed costs for incidentals for the boat.

Edited by - on

cat1951
Admiral

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USA
636 Posts

Response Posted - 02/19/2008 : 15:09:07

I haven't gotten into the budgeting yet either. When we bought our boat a couple of years ago, there were things that I wanted to do. I mostly get to them as I have time and money to cover the expense. We have a monthly household budget and I can tell how well each month is going before I spend the money.

That said, if we move up to a larger boat (and we are considering it) then I will have to take a look at our overall budget and determine what kind of expenses the larger one will take. Starting with slip fees, fuel, boat payments, upkeep and such.

Edited by - cat1951 on 02/19/2008 15:09:39

piseas
Former Treasurer

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USA
2017 Posts

Response Posted - 02/19/2008 : 15:56:33

Frank, like others, I don't set a budget. As I have a newer boat, I don't spend much, except for slip fees and little incidentals like a BBQ, pots and pants, GPS, etc.
Steve A

Edited by - on

clayC
Navigator

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USA
207 Posts

Response Posted - 02/19/2008 : 16:22:01

Two new Cam Cleats............100.00

A hand held radio.............150.00

new lines to fly my spinnaker.....225.00

A hat that makes Frank look Dashing.......Priceless!

Sorry Frank, I just couldn't Resist.

Clay C

Edited by - on

OLarryR
Master Marine Consultant

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USA
3477 Posts

Response Posted - 02/19/2008 : 18:05:37

I do not set a budget. I have had my boat 2 1/2 years so far and have done major projects each year that have cost mucho dough. If I do not include the projects, the cost of regular maintenance is peanuts. I do not paint the bottom every year but do get the bottom pressure washed for $75. I have been using the same Cetol can for about 2 yrs now. The Poliglow, after the initial numerous coatings, then only apply 2 coats every 6 months. The bottle will last me longer than a year....maybe 2 years if only applying 2 coats every 6 months. The cordless scrubber/polisher/buffer cost ~ $60.

Maintenance - Estimate less than or equal to $200/yr not including bottom painting which may be done every 3-4 years requiring travel lift and etc services...jacking cost in that year to over $1000 total maintenance costs.

Projrcts: 1st year added addl $3300.
That was for new motor, motor bracket and solar panel w/controller.

Next summer - Rewired mast and inside cabin including new circuit breaker switch panel and 2 fans, accessory 12V DC connector - $ 1400. (Marine guy did the mast)

This past winter - Extended bunk and mattress sections, new main and genoa ~ $ 2700.

Edited by - on

delliottg
Former Mainsheet C250 Tech Editor

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USA
4479 Posts

Response Posted - 02/19/2008 : 19:01:25

We don't set a budget, but I do have to run major purchases by the comptroller.

This past year:
$5000 for buy in to our marina, a one time cost
$800 for Avon 3.15 & Mercury 4.5 HP engine +
$250 for service on the outboard.
$700-ish for GPS, Charts & Maps. It's dual use, and mostly gets used in my truck.
$400 for Raymarine TP1000 Autopilot
$250 for new VHF & Wireless mic
$200 for Magma grill, cover, mount, etc.
$200 for Magma roll reducer thingy, unused so far
$150 for Boat umbrella thingy, unused so far
$100 or so for a couple of new 5-day coolers
$75 for a set of fenders
$55 for bow roller, unused & uninstalled (but on the short list)
$40 for bow anchor holder
$300 plus easily for new lines, cleats, dock roller, wire, cable, tools, first aid supplies, coax, hardware, fittings, paint, epoxy, aluminum for the hard link, etc., etc.

This doesn't include the $145/month + $20/month slip fees, or consumables like gas, booze, beer, soft drinks, food, dog chow, propane, etc.

Easily $2500-$3000 this past year not including the buy in and I'm sure I've missed some big ones, but most are one time purchases. The biggest purchase I have planned in the not so distant future is a new 4 stroke engine to replace my aging 2 stroke. That'll be another $2k that I'll have to talk the comptroller into.

This is still cheaper than golf, right?

Edited by - delliottg on 02/19/2008 19:03:30

stampeder
Master Marine Consultant

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1608 Posts

Response Posted - 02/19/2008 : 20:03:49

We were going to buy a new 250 and decided to buy an older one so that we'd not have to worry about budgeting too much.
This is the inanimate love of my life, I don't pay much attention to costs.

Edited by - on

Prospector
Master Marine Consultant

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Canada
3159 Posts

Response Posted - 02/20/2008 : 07:47:55

I am new to this, but I am expecting it to be like our spending on canoeing, which is non-linear.

I think that in the first year or two there will be a load of expense as you cover start-up. We have bought a tonne of stuff that is partly to get the boat just right, partly being drawn to the glimmer of shiny things and partly dumb purchases that I am sure we will toss shortly.

Next year we will spend a little less and be a little wiser, and we will know what works and doesn't, and our spending will be more focused, the curve will start to drop.

By year three my hope is that our spending will be mostly maintenance with a few cool new things thrown in, and then things will level off - until...

Eventually it will be time for major maintenance and the decision of whether this is what we want to continue to pursue, and if we want to refit the boat or look at something different.

While canoeing seems very different to sailing, we have been canoeing for about 12 years, and made the move to sailing when much of our gear wore out, we needed a new canoe, and our family outgrew the boat. (You can't really paddle whitewater with a 10 yr old, an infant, and 2 adults in a canoe.)

Edited by - on

JohnP
Master Marine Consultant

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1520 Posts

Response Posted - 02/20/2008 : 08:11:16

Frank's list sounds familiar. The Admiral and I went over our budget last month, and I estimated about $1K for the boat over and above the slip, winter storage, insurance, gas, and food & drink.

---4 or 5 hats that makes me look dashing
---Lots of metal, wood, & plastic to build stuff for the boat

I am a scientist with a modest income but am realistic about how much it costs to own our boats. I find it difficult not to spend about a grand a year so that is my target slush fund for the boat.

Edited by - on

dlucier
Master Marine Consultant

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Virgin Islands (United Kingdom)
7583 Posts

Response Posted - 02/20/2008 : 08:28:59

<blockquote id="quote">quote:<hr height="1" noshade id="quote">Originally posted by delliottg
 This is still cheaper than golf, right?

<hr height="1" noshade id="quote"></blockquote id="quote">

For you, only if your home course is Pebble Beach!

Edited by - on

delliottg
Former Mainsheet C250 Tech Editor

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USA
4479 Posts

Response Posted - 02/20/2008 : 09:36:54

Gotta agree with Prospector, I think the first couple of years will be buying stuff to make us safer, more comfortable, etc., getting the boat and all it's gear to our liking.

Toward that end, I have my company deposit $50/pay period into a different account. That gives me around $1200/year to spend with no guilt or checking with the comptroller. Unfortunately, she also has access to this account and will transfer money from it to our main checking account while paying bills if she needs it. The catch is, she never seems to transfer it back...

After the first couple of years, I'd imagine the various costs will taper off to much more manageable amounts. Then of course five-foot-itus sets in and you start all over. I'm already salivating over the Telstar 28.

Edited by - delliottg on 02/20/2008 09:39:33

Prospector
Master Marine Consultant

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Canada
3159 Posts

Response Posted - 02/20/2008 : 12:27:43

Um... David, 25 + 5 = 30... That Telstar would qualify under the three foot creep, not five-footitus.

Edited by - on

aeckhart
Master Marine Consultant

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USA
1709 Posts

Response Posted - 02/20/2008 : 12:52:39

I bought Gallivant new in 1989 and have added everything I need for safe single-handed sailing, and most recently, new sails. For large items I usually went out and bought it on my credit card. For smaller items, like the stereo I plan on installing this spring, I save loose change in a large beer mug over the off season. I can usually collect around $125 by spring.

By the way, the final "big-ticket" item I plan on buying is a furler for my asymetric spinnaker. I'll also install an anchor roller, to second as a sprit to extend the furler out in front of the bow a bit.

Edited by - on

tmhansen
Captain

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USA
397 Posts

Response Posted - 02/20/2008 : 22:24:45

I don't keep track of costs - its too shocking. I am always amazed at how much I can spend at the hardware store just on ss bolts and such. For most purchases I have to run them by the admiral before I pull out the credit card and place an order on line. Every once in a while we stop at a WM in our travels and go on a minor shopping spree since there are no chandelries where we live. Also since we have a small amarda of boats its sometimes difficult to separate which cost was for Fiorghra and which for my son's Opti or now our Oday Daysailer.

Edited by - tmhansen on 02/20/2008 22:26:37

1981capri
Navigator

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USA
175 Posts

Response Posted - 02/21/2008 : 13:15:22

<blockquote id="quote">quote:<hr height="1" noshade id="quote">I find it difficult not to spend about a grand a year<hr height="1" noshade id="quote"></blockquote id="quote">
That is why they invented boat bucks.

$1 Boat Buck = $1000 Regular Bucks

It's a little easier to think about it that way. It just becomes pocket change you know. Like I just dropped 47 cents for a new head foil.

Edited by - 1981capri on 02/21/2008 13:30:50

wmeinert@kconline.com
Past Commodore

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USA
353 Posts

Response Posted - 02/22/2008 : 11:37:25

For the last 7 years I have been traveling, that is hauling my boat to regattas from Portland to Cleveland, Kansas to Florida, not to mention all the annual stuff you need as mentioned above, Last year I traveled half the distance I did the year before of 10500 miles and my fuel bill was double that of the last year ($2980). This year I am planning to travel only half of what I did last year with only one trip to Oklahoma, and one trip to Traverse City, and one trip to Kentucky, I just figured my mileage (@16 mpg) and my yearly budget set last year is already going to cost me 34% more. I think this may be my last year as a trailer sailor, that thirty footer sitting in a marina is now within my yearly budget.

Edited by - wmeinert@kconline.com on 02/22/2008 11:39:34

bigelowp
Master Marine Consultant

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USA
1797 Posts

Response Posted - 02/22/2008 : 14:12:55

A happily depressing subject! I am still "fixing" my fixerupper so I am a few years away from Frank's stable budget. Last year was a killer. The "major" projects still left include wiring, plumbing, and some improvement to interior cushions. On the semi-major is running lines to the cockpit. Then their are the winches, electronics, etc, etc. However, I would think in a costly urban area (I live near NYC) @$2,000 per year would be satisfactory and in less expensive areas of the country the $1,000 would be reasonable. It all depends on personal skill/time to do projects, the Admiral's priorities and what neat new toys are introduced in a given year.

But still, I sometime ask if I need many of the toys and projects as the boat sails great just as she is . . .

Edited by - on

Prospector
Master Marine Consultant

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Canada
3159 Posts

Response Posted - 02/22/2008 : 16:15:36

Interesting Bigelow - I would think the opposite, since you likely have more than 3 chandleries less than 2 hours away. My closest "dealer" is an hour from here, and thats a long haul for a quick "fix".

Edited by - on

bigelowp
Master Marine Consultant

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USA
1797 Posts

Response Posted - 02/23/2008 : 16:14:07

Would agree that the availability or parts is an advantage. All the local folks though charge full retail. I have found purchasing almost everything over the web has saved considerably. The real cost "gotcha" is labor and where I am ANY labor is ridiculously expensive.

Edited by - on

Deric
Captain

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USA
408 Posts

Response Posted - 02/24/2008 : 10:40:49

I was shocked to learn how much money was required to own a 25' Catalina rather than my previous boat: a 16' day sailer.

With the day sailer, I just trailered to the location and launched the boat without slip fees, well okay, depending on the location of the launch: 2 bucks to launch. No motor, so there was no expense for that as well, and, I only had to register the trailer. No bottom paint expense, just washing.

I have had to take second jobs to help keep my new 25' fCatalina. There is much more expense to it, and much more learning. The Catalina feels more like a sailboat to me. Loved learning to sail on the 16, and love learning to increase my skill sets on the 25.

Do I regret the upgrade from 16 to 25? Not at all.

I think it's great that you are asking about expense. I should have done that as well. I got too excited about buying the boat, I just plunged in.

As a past school teacher I understand your concern to budget. It is doable. Working with kids is more difficult than developing and managing a budget for a sail boat.

Have at it.
Deric

Edited by - on

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