Financing the Cruise

maxiSwede · January 11, 2009, 10:28:54 AM

At least here, in Scandinavia, Amex always had a kinda bad rep. with the retailers/shop owners for charging them a LOT more than Visa/MasterCard etc.

AdriftAtSea · January 11, 2009, 10:50:49 AM

That's not just in Scandinavia... :)

Oldrig · January 11, 2009, 04:28:53 PM

I agree with the other comments about Amex.

However, when I was living in Europe (about 15 years ago now), I had my Amex card linked to my personal checking account back in the USA.

I was able to write myself a check at any local American Express office (there was a $200 maximum in some countries, but not in all), and draw the equivalent in local currency with no extra charge. It was mighty convenient.

Still, the fee is high and retailers don't like the card. I don't know if other cards will do the same thing.

--Joe

David_Old_Jersey · January 11, 2009, 04:38:30 PM

Quote from: Oldrig on January 11, 2009, 04:28:53 PM
I agree with the other comments about Amex.

I think AMEX is called a "Charge Card" for more than the one reason ::)

In this part of the world also known for charging the retailers higher fees, and accordingly not welcome everywhere.

Antioch · January 11, 2009, 07:05:42 PM

I've always just started off with a debit card and a stack of hundreds.. and watched it all disapear. Only in 2005 when I was hurt in Santa Catalina did I have to simply work off the island where I was moored...

Bubba the Pirate · January 12, 2009, 07:03:06 PM

I am considering using a prepaid Visa that is/was available through Western Union. My plan was to have several cards of some standard amount. I would stash them somewhere on the boat and use one at a time. Therefore if it, or the numbers, got stolen I would only be out some percentage of the kitty. Same philosophy as separate water tanks or so.

Todd

newt · February 15, 2009, 11:40:27 PM

Has anyone on this list gone to school and got their shipwright technical training, then tried living in marinas with their tools and their smarts? I know that is what L&L did for a while till they became famous authors. (that is live off their tools, I don't know if they had training) I am seriously considering doing the same.

CharlieJ · February 16, 2009, 08:22:13 AM

well, I didn't go to school for it, but when I was cruising on my Cross 35 trimaran, I made money stopping and working in boatyards.

Pulled into Ft Pierce Florida one Tuesday with a quarter aboard as my only hard currency, and by Friday evening had made $500 cash. The yard manager asked me what experience I had and I pointed to the tri riding at anchor and told him " I built that". I was working on a job doing some wood work on a boat ten minutes later.

That's just one example. I also worked as deck hand on a tow and salvage boat in Boot Key Harbor for a month or so. And since I had Hookah gear aboard, I worked as a salvage diver on occasion.

I was MUCH younger at the time- 41 years old. Now, at 68, I'll depend on my retirement checks instead of diving, thank you ;D ;D But I WILL have a certain amount of my woodworking tools aboard.

Captain Smollett · February 16, 2009, 10:47:05 AM

A bunch of the live aboards here do boat work for hire. I don't think any of them have been to school for it.

The services range from simple brightwork finishing, light glass work, canvas work, etc, to major engine repairs and the like.

There are so many, in fact, that I have not thrown my hat into the ring.

newt · February 16, 2009, 12:51:31 PM

I agree, I have done odd jobs around boats too (mostly on my own) but I am getting serious about increasing my skills. Looked at Northwest School of wooden boatbuilding the other day, and I think I could spare a year of my life to learn boats in depth, including building beautiful canoes and small wood ones. I will be building big boats too, but probably won't do that professionally. Now cabin renovation- that looks fun.

Bubba the Pirate · February 18, 2009, 08:57:37 AM

When I was 'camping out' on an Irwin 25 in Sarasota, one of my neighbors was a guy who called himself 'Hobie.' He had a very nice boat, I can't recall the Make. But he kept his boat in Bristol order and used it as his calling card. I don't think he did a lot of major surgery, but he seemed to eat fairly well on painting, polishing, varnishing and general upkeep of other's boats. Sort of the low tech version of "I built that."

Ironically, he claimed that he had hurt his back at work and bought the boat with the settlement. The back didn't seem to bother him much.

I plan to get my CD28 to that point and keep her that way, so that I can point to her, and maybe a "before" picture, and say I resurrected that. :o)

Todd

CharlieJ · February 18, 2009, 09:21:14 AM

Quote from: sailorbum on February 18, 2009, 08:57:37 AM

I plan to get my CD28 to that point and keep her that way, so that I can point to her, and maybe a "before" picture, and say I resurrected that. :o)

Ya mean sorta like these two- before and after on Tehani

David_Old_Jersey · February 18, 2009, 10:34:02 AM

Quote from: sailorbum on February 18, 2009, 08:57:37 AMhe kept his boat in Bristol order and used it as his calling card.

I think that is a great idea 8)

Bubba the Pirate · February 18, 2009, 11:07:52 AM

Grog to CharlieJ. His before and after are much more dramatic than mine are going to be. However, I failed to get a good picture of the .50" of black mayonnaise that I cleaned out of the bilge. One of the diesel tanks failed during the PO's tenure. They did a great job of cleaning her up except the last aft 5' of bilge. :)

Todd

mrb · February 18, 2009, 10:41:12 PM

CharlieJ

Hats off to you, most wouldn't see the boat through the debris.

Of all the unlikely places as Arkansas there is a fellow at the marina on Lake Dardanelle who does upkeep on other peoples boats and stays fairly busy. Mostly paint and wax and other small jobs. Also makes a good cup of Coffey, used to be a tow boat Captain on Arkansas, Mississippi and Ohio.

I have run into men and women in most ports who get by by working around on others boats or commercial fishing boats in season. One skill that seems in short supply is GOOD marine electricians. Lots of wantabes but few good ones out there.

Captain Smollett · March 06, 2009, 08:06:06 AM

Lifted from the Scooter Finances thread:

Quote from: s/v Faith on March 05, 2009, 10:27:15 AM

Suffice to say that as it relates to cruising, it is likely that today's dollar will buy quite a bit less in a few years. Those with fixed income streams, or a pile of cash that they are planning to cruise on will likely have some challenges ahead.

This part got me to thinking (a dangerous thing, I know). Could this then be an argument against ANY kind of investment or attempt at savings?

All investment is a risk. Saving cash under your bed does not keep pace with inflation. So, my theory goes, the only way to insure that the money you have is worth as much as it can be TODAY is to earn it TODAY.

Another pro for 'earn as you go' cruising or hogwash?

AdriftAtSea · March 06, 2009, 08:58:19 AM

Depends on how bad the inflation gets... If inflation stays relatively low, then having good investments is probably a worthwhile thing... if inflation goes up significantly, then earning as you go might be the better option. :) Or investing it in hard goods, like gold, and using that as a trade good. :)

Quote from: Captain Smollett on March 06, 2009, 08:06:06 AMThis part got me to thinking (a dangerous thing, I know). Could this then be an argument against ANY kind of investment or attempt at savings?

All investment is a risk. Saving cash under your bed does not keep pace with inflation. So, my theory goes, the only way to insure that the money you have is worth as much as it can be TODAY is to earn it TODAY.

Another pro for 'earn as you go' cruising or hogwash?

maxiSwede · March 06, 2009, 09:25:29 AM

If inflation goes up, real estate has always been great. At least as long as I remember... which is back to the 70-s, if I recall THAT right. ::) 8) ???

wish I had gone cruising 30 years ago, but was a coward ;) ;D ;)

mrb · March 06, 2009, 11:14:41 PM

Inflation

OK wasn't the reason for inflation related to supply and demand. If a lot of people have a lot of money to spend, price goes up because of demand.

If that is true then shouldn't price go down because of high unemployment and stolen investments and retirement funds, shouldn't that mean that cash hidden in jars in back yard become more valuable.

Oops just figured that out, paper money has no value as gov. just prints more and gives it away to friends.

AdriftAtSea · March 07, 2009, 06:15:07 AM

QuoteOops just figured that out, paper money has no value as gov. just prints more and gives it away to friends.

Yeah, that's the problem. The more dollars that are out there, the less each is effectively worth. Simple supply and demand. If dollars are a scarce resource, then they're more valuable than if they're plentiful.

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Financing the Cruise