Running costs

[oGaryo]

I know I know.. should never do this but I was bored

Just estimated running costs for the year with the current boat taking in to account maintenance, fuel (boat and car), berthing when away from home berth, storage and launching.... Came in at just under £4K per annum. Have budgetted £5K to take care of surprises, fuel price hikes, average trip mileage more than expected etc... pleasantly surprised as I was expecting it to be more


first and last time I'll do this for the new boat... as most rightly say, ignore the cost, just use the boat until you can't afford to, if you can't afford to, sell the boat.

Boat Fuel £1,104 2 trips a month in high season (8 months), ad hoc in low season.. + 2 weeks away (4 trips in a week).. 24 average trips a year in total averaging £46 a trip (20 miles)

Car Fuel £540 2 trips a month in high season, 1 in low season.. £30 a trip in the Insignia (200 mile round trip)

Visitor Berthing £600 30 nights a year maximum at £20 a night

Storage £1,025 All in.. Includes launching, car parking, facilities etc

Maintenance £600 Filters, Oil, renewing 'stuff' etc

Totals £3,869

 

[rafiki_]

Gary,

Good start, but don't forget the must-have toys that you will acquire during the season, plus the ad-hoc replacements and maintenance.

Sounds like you are planning to run for an hour max on each trip, because with your engine, I would assume 12 gals per hour at £6 per gal? Unless you are dribbling around at 1 or 2 gph for much of the trip?

By the way, how did you get on with your outdrive service? Particularly glueing the rubber bellows in place, and aligning the drive?

I had mine done last year, and the fitter was cussing over these bits. I might give it a go myself at the end of this season, but only if it is sensible.

 

[gjgm]

when you do get a nasty, dont forget to allocate it back over the previous years

 

[jfm]

when you do get a nasty, dont forget to allocate it back over the previous years

Or capitalise, fair value account and take it straight to reserves. Also if it's very big pay it out of an SPV that isn't consolidated and shred the files. (Someone should make a movie about that...)

Seriously though, you missed off insurance oGaryo

 

[David of Essex]

Or capitalise, fair value account and take it straight to reserves. Also if it's very big pay it out of an SPV that isn't consolidated and shred the files. (Someone should make a movie about that...)

Seriously though, you missed off insurance oGaryo

And on board entertainment ££££

 

[oGaryo]

cheers guys, insurance a couple of hundred so added that in.. also upping the boat fuel to £55 a trip on average with half being a quick nip over to Osborne Bay, Hamble or Cowes from Calshot and the other over to Bembridge, Lymington, Colwell Bay etc.. The week long trips will take us further afield.. The increase in fuel takes account of running the boat off the plane and I'll not always be able to get the fuel at Tesco price using the jerry cans.. once on the plane at 24knts crusing she drinks about a gallon every 2.5 miles according to the fuel flow meter,

Anyways, all a bit rough and ready to be honest and if it turns out to be more then so be it.. wont break the budget even with Jamie sapping the funds whilst at Uni, bless 'im

Rafiki, I didn't touch the drive when I did the work last month other than pressure test and oil flush.. all the Bellows and Gimbal Bearing had been replaced by a service organisation in Torquay in September 2010.. all Mercruiser parts so should be good for the next 3 to 5 years considering the boat's on the trailer... good luck, I hear it's a tricky old job even with the right tools... you're right though, never enough toys so will no doubt keep adding those in as I find something else 'essential' e.g. bigger rail mount BBQ

 

[jfm]

insurance a couple of hundred

Fab!
That reminds me, we said last year we were going to try to compare prices. Must do a thread on it sometime. I was amazed by the variance in quotes I got for the new boat. Another thread sometime soon, as many folks probably renew in Spring

 

[LittleShip]

Wanna swop boats for the winter period

Tom

 

[STEVEDUNSTABLE]

I know I know.. should never do this but I was bored

Just estimated running costs for the year with the current boat taking in to account maintenance, fuel (boat and car), berthing when away from home berth, storage and launching.... Came in at just under £4K per annum. Have budgetted £5K to take care of surprises, fuel price hikes, average trip mileage more than expected etc... pleasantly surprised as I was expecting it to be more


first and last time I'll do this for the new boat... as most rightly say, ignore the cost, just use the boat until you can't afford to, if you can't afford to, sell the boat.

Boat Fuel £1,104 2 trips a month in high season (8 months), ad hoc in low season.. + 2 weeks away (4 trips in a week).. 24 average trips a year in total averaging £46 a trip (20 mi
Car Fuel £540 2 trips a month in high season, 1 in low season.. £30 a trip in the Insignia (200 mile round trip)

Visitor Berthing £600 30 nights a year maximum at £20 a night

Storage £1,025 All in.. Includes launching, car parking, facilities etc

Maintenance £600 Filters, Oil, renewing 'stuff' etc

Totals £3,869

hi gary ..you have to much spare time !!! work harder to save for MORE trips to relax from the worry about the costs !!!......yes its a circle.......BUT at least its not VICIOUS !!!!......tehee te hee

 

[epervier]

To use a quote from the younger hip and trendy types, "Just don't go there"

 

[Deleted User YDKXO]

oGaryo, I dont want to depress you further but you missed out 2 biggies. First is depreciation and second is the lost interest on the capital you have invested in the boat or the mortgage interest you're paying

 

[Scubadoo]

Or you could do what I do and keep a spreadsheet of all costs going back years. The downside, it reduces you to tears when you look at the total figures!

 

[oGaryo]

oGaryo, I dont want to depress you further but you missed out 2 biggies. First is depreciation and second is the lost interest on the capital you have invested in the boat or the mortgage interest you're paying

but I always sell for a profit Mike lol putting in depreciation accrued over 3 years and adjusted for NPV would make me a very very sad indivual indeed so I'm not going there sir instead, I'm just going to go and play with the new toy..... until something bigger comes along (boat and bank balance wise )

 

[Ripster]

History teaches me (if I check the bills etc) that the old 10% of the boat value PA rule applies with remarkable accuracy. This of course exclude new elcetronic toys or anything nasty going wrong.

 

[jfm]

lost interest on the capital you have invested in the boat

That old chestnut again . ANYTHING you do with the capital is going to "cost" you that lost interest. So that interest is a "cost" of using the money as opposed to staring at a big number on a piece of paper with a Coutts logo at the top, and hence it isn't rationally a cost of boating per se. All imho of course

Anyway, have you seen what risk free interest rate you can get on deposits currently? 0.4 percent tops, if you're very well regarded by the bank. After 40 or 50pc income tax that is two grand pa of income per £million!

 

[enterprise]

Hi Gary,
Can we assume your going to stay rigidly to your plan?, I guess that if every weekend is glorious sunshine, the plan goes out of the window (lets hope that's the case).
Seriously, if thinking in terms of how much use for a given budget then double the budget you have and then you will be quids in, hopefully with surplus at the end.

One big thing you have missed is entertainment, both yourselves and family, it's easy unless very disciplined to blow a couple of hundred a weekend on eating out, site seeing and socialising, unless you plan to unwind onboard and take the stores with you then budget for at least £100 per weekend trip.

 

[rafiki_]

Hi Gary,
Can we assume your going to stay rigidly to your plan?, I guess that if every weekend is glorious sunshine, the plan goes out of the window (lets hope that's the case).
Seriously, if thinking in terms of how much use for a given budget then double the budget you have and then you will be quids in, hopefully with surplus at the end.

One big thing you have missed is entertainment, both yourselves and family, it's easy unless very disciplined to blow a couple of hundred a weekend on eating out, site seeing and socialising, unless you plan to unwind onboard and take the stores with you then budget for at least £100 per weekend trip.

We tend to spend as much time on board as possible. Why go to the pub, when you can chill out on board, with a glass or 2, and really enjoy the ambience? We tend to take all our needs with us.