Aug 17, 2017

Cruising Income And Expenses?

I'm toying around with the idea of posting our income, expenses, and the balance of our cruising account. Almost everyone asks how we can afford to go cruising. People often wonder how much it really costs.

So, please forgive me while I experiment with format and presentation. If there is something specific you would like to know or see, if there is a certain way you think I should present this information, please email me at Chad@hobosailor.com

You can view the July Income and Expense report here: https://www.patreon.com/posts/income-and-july-13909942

Here are some notes from the report:

Moving out of the house and getting the boat ready to go has been costly. Not in the sense that we spent a lot of money, but in the sense that I really had to focus on packing, moving, and boat work instead of income generating tasks. As a result, I've lost momentum, and lost out on money I could have earned. 

At this point, I'm starting to think about finances again, and I'd be lying if I said I wasn't worried about it. Starting our patreon account is a direct result of that worry. 

We have plenty of money at the moment, but I know we will burn through it quickly without any money coming in and I don't want us to end up in a desperate situation. 

I know it's going to cost about $2,000 to have the mast stepped (taken down) in Chicago, Shipped on a truck, then re-stepped (put back up) when we arrive in Mobile, Alabama.

We have not yet started receiving income from renting out our house. Unfortunately all of that money will have to be saved and put towards:

  • Income tax on rental income
  • Income tax on other income that I know will be taxed but didn't save for
  • House maintenance & repairs
  • Health Insurance

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