Budget planning
Hi,
it is always a question if it is suitable to talk about money. Anyway, i will do it.
When you stop working and not earning any money, you have to ask yourself some questions:
-How much will i spent?
-What do i have to pay?
-What insurances does one need?
-How long can this go?
-Should i keep any savings or spend it all :-) ?
Well to maintain the right to get back in my old insurance i have to pay around 70EUR per month, of course without the ability to claim anything.
So you also need an new insurance with worldwide coverage. Unfortunately IF-Insurance in Finland, which we used for my expat assignment is not contracting with individuals. They were really great!
So i have to look around and most likely might end up with Panteanius which will cost around 1100 EUR per year and person.
The insurance for the boat is around 2000-6000EUR per year depending on where you cruise. My contract will pay me a fixed amount if the boat is destroyed, no matter how old it is.
Then you have to think about:
-Maintenance: Filters, Sails, Engine parts like Impellers, etc
-Additional things: Solar panels, Windgenerator etc (if not fully equipped yet)
-Marina costs. ow often will you be in a marina and how often will you anchor?
-Eating out or cooking?
-What luxury do you want?
-Homeflights?
-Vacation from the vacation maybe?
-etc etc
Currently the guess is, that with 2000EUR per month it should be possible.
Many statistics from cruisers say 1500 to 2000 EUR per month and better plan on the higher side.
This blog will be updated with our personal statistics while on the way. So watch it after 1.Aug.09
regards
Michael
it is always a question if it is suitable to talk about money. Anyway, i will do it.
When you stop working and not earning any money, you have to ask yourself some questions:
-How much will i spent?
-What do i have to pay?
-What insurances does one need?
-How long can this go?
-Should i keep any savings or spend it all :-) ?
Well to maintain the right to get back in my old insurance i have to pay around 70EUR per month, of course without the ability to claim anything.
So you also need an new insurance with worldwide coverage. Unfortunately IF-Insurance in Finland, which we used for my expat assignment is not contracting with individuals. They were really great!
So i have to look around and most likely might end up with Panteanius which will cost around 1100 EUR per year and person.
The insurance for the boat is around 2000-6000EUR per year depending on where you cruise. My contract will pay me a fixed amount if the boat is destroyed, no matter how old it is.
Then you have to think about:
-Maintenance: Filters, Sails, Engine parts like Impellers, etc
-Additional things: Solar panels, Windgenerator etc (if not fully equipped yet)
-Marina costs. ow often will you be in a marina and how often will you anchor?
-Eating out or cooking?
-What luxury do you want?
-Homeflights?
-Vacation from the vacation maybe?
-etc etc
Currently the guess is, that with 2000EUR per month it should be possible.
Many statistics from cruisers say 1500 to 2000 EUR per month and better plan on the higher side.
This blog will be updated with our personal statistics while on the way. So watch it after 1.Aug.09
regards
Michael
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