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Tracking the Stealth costs of boat ownershipJan 07 '01 (Updated Jan 09 '01) Write an essay on this topic.I went out late last summer to purchase my boat. I researched the internet, I went around to all the local dealers, I did my homework. Then it hit me like a bolt while I was shopping around. I was faced with the realization that I was plundering a portion of the family budget in the name of pure indulgence, and a large one at that. How did I ever get my wife to go along with this nonsense? After thanking my lucky stars and shaking off that notion, I continued with my boat buying plans. My wife had little idea of the journey upon which I was about to embark. Had she seen through the Fog of Boat, I'm certain that I would be raking leaves and loading the dishwasher every Saturday instead of heading off to the wild blue depths. My guide, expensive technological marvels, my jones, heaving live bait to chuckling pelagics. You're boat is going to cost you plenty, but don't fret, you can always mess with Quicken to tweak the numbers in your favor. Here are some of the expenses that hit me like a two-ton heavy thing. Add on purchasing costs: Here's where my checking account got whacked! When you finally strike the deal on your trusty dory, you'll have to pay Sales Tax! Dang, they get you when you make the money, and now they get you when you spend it! Sales tax set me back almost a thousand bucks. Don't forget the registration! You'll also need a tag for the trailer. My dealer also charged me $150 to pay for their inefficient administrative boat buying process. That's right, they charged me for their paperwork. I fought that one hard, but they won. They didn't even throw in a fire-extinguisher. If you manage to negotiate a really good deal on your vessel, they will give you almost nothing, because you will be cutting into their profit margin a little too much. And speaking of fire extinguishers and profit margins..... You'll have to minimally equip that boat: with safety devices. You'll need a fire-extinguisher, some flares, some personal flotation devices for all on board, a throwable float cushion, a whistle, an expensive flotation device for the kids under six that they have to wear at all times (bad deal for the toddler set). You'll also need all that stuff you never thought about, like, say, an anchor! You'll need tie down straps to lash the boat to the trailer, you'll need bow/stern lines, you'll need anchor road. You need lots of stuff you never thought of! You'll have to equip your boat to fulfill its mission: If you bought a fishing boat, you may have come out lower on the short side, but now you need a bunch of stuff. You need electronics, like a GPS, a VHF radio and a bottom sounder. You need lots of good fishing tackle for you and your friends. You need beer and live shrimp, tens of dozen of perfectly edible live shrimp. Coolers. You'll need a gaf or landing nets. Tackle boxes. Tackle, lots of tackle, terminal tackle, lures, leaders, hooks, sinkers, poppers, yo-zuri crystal minnows, berkley powerbaits, hook pullers, pliers, monofilament, fish scales, measuring sticks, landing gloves. Gawd, you can spend the rent on tackle, but you're feeding your family with the catch, right? Fuel: An outboard engine loves gas like a chimp loves bananas. New technology has helped this situation, but guess what, you don't have a new brain! The human wants to explore the capabilities of his/her equipment, so everywhere you go you are clocking yourself on your GPS and playing with the trim to get that half a MPH more out of your awesome outboard, and you're burning lots of dead dinosaurs to do it. Your boat, no matter how efficient, will not match the family truckster in gas mileage. Even if you drive a one-ton Chevy extra cab 4X4 with the 7.2L engine, your 90 HP outboard equipped boat will easily drink it under the table. Neglected Home and Family: Your family may wonder about your absences. Your lawn will grow....tall. Your automobiles will become bothersome but necessary contraptions that don't enthrall you much anymore, because they don't float. Oil changes? Yeah, right. Your dog, if lucky, will be your first mate. The cabinets will continue to need that coat of paint. Your three year old will probably feign interest in learning how to filet a Redfish. She will also balk at Inshore Fisherperson Barbie, you know, the one you gave her for her birthday. Hard as you try, Mom will not be interested in fishing, and she may go out once or twice a season for a cruise in the lovely family boat, yeah, that one, the one that only you and your fishing buddies use! Really hidden costs: "What do you mean I need insurance?". Yeah, you'll need to insure that vessel, and while it is not outrageous, it sets me back about 300 bones a year. Do you want to store your boat somewhere other than home? It will cost you, and it aint cheap. I also always need some "marine" something or other. "Honey, I need some boat wax, it's only $24 a bottle", or "no, I can't use carbon steel machine screws for $.02 a piece, I need some of those stainless screws over there for $.85 a piece. I need wheel bearing grease, I need metal polish, I need a swim ladder, ski-rope, and quoth the wife, "I need, I need, I need". Super stealth hidden costs: All things being equal, if you took what you spend on boating and angling and invest it in an average performing mutual fund over time, using the properties of dollar cost averaging, you would be worth more than Warren Buffet in 20 years time. She's right, and she's shellshocked, but she has acknowledged that my little hobby has not sank the family ledger. She also enjoys the boat with me, as does my daughter, especially when it is warm. Crazy fishermen like myself put the boat in the water no matter how chilly. If you can take an honest look at your budget, and add in the hidden costs when you are building your boat budget, you'll be fine. Today I was out floating in the huge, beautiful Gulf of Mexico, the water so blue and clear, the waves rolling about two or three feet. I pondered my luck at having this wonderful center console fishing boat that I own, and I think about the relaxation and fun I get out of being its steward. I weigh the cost and the benefits, and I never have a regret about buying it. I'm sure my wife would agree as well. OK, so maybe that's a bit of a stretch. But aint stretch life? Do what you can do with what you got. Tight lines and safe boating.  |
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