Spend Now, Save Later

Spending money to save money… Totally not a pyramid scheme!

During our many hours of research (mostly watching youtube), we learned that there are a few things that will save us money in the future. The two biggest things that we can do now to save later is gaining experience and purchasing insurance for our current boat now.

Insurance on our current boat is a little less than $500 a year. This could be cheaper, but for our first year, I wanted to be on the safe side of things. Next year, it may be less than $200. The boat, new motor, and everything cost us less than $10,000. This seems like a good way to have a history of boat insurance. We are building this history because our future boat will cost no less than $300,000. That insurance will be much, much higher. Having this history of boat insurance will help reduce the cost.

Experience is the other factor that will reduce the cost of insurance. This is much like how a 16 year old kid’s car insurance is crazy high. No experience often equals higher prices because that lack of experience is more likely to cause some type of damage. We will have 5 years of sailboat experience, minimum, when we purchase our catamaran. It can only help.

The other way we are spending money to save money is by trying to learn everything we can now. Can’t stress that enough. Anything we can work on now with our current boat, will give us experience that will hopefully give us the ability to fix future problems on a much more expensive boat. I’d rather try to fix something and screw it up on our cheap, old boat than on a boat that costs more than 30 times as much. If we have to pay for someone to do something here, so be it. It has to be cheaper than when something breaks in the middle of nowhere!

We will learn and we will save money in the process.