Financial Planning for Sailing the World.
How can I Financially Prepare for a Sailing Adventure with my Family?
So, what should you know about budgeting, saving, and managing finances to make the transition to a sailing lifestyle smoother?
Embarking on a sailing adventure with your family is an exciting prospect, but effective financial preparation is key to ensuring a smooth transition. Start by crafting a detailed budget that encompasses not just the initial costs of acquiring a sailboat but also ongoing expenses like maintenance, mooring fees, and provisioning.
Our cruising fund was initially going to come from the sale of our sailing business in the UK.. then along came the 2009 financial crisis! It took us another 8 years, the sale of our assets and several side hustles to scrape back the money we’d lost, as well as saving enough to buy a boat. It takes persistence, determination and focus if you’re starting from a standing start to build this type of adventure from the ground up. But it can be done.
Consider building a dedicated sailing fund by cutting unnecessary expenses and redirecting those funds toward your ‘sail away’ dream. Prioritise saving for a financial safety net, ensuring you have a cushion for unforeseen challenges at sea or on land. Investigate ways to generate income while sailing, such as remote work or freelance opportunities.
Additionally, explore cost-effective strategies like buying used equipment and leveraging online resources and burgeoning AI technologies for learning and networking within the sailing community.
Despite living off-grid, with minimalist living and using renewable resources, lack of money can be a limiting factor at sea as much as it is on land! But, diligent financial planning means your family can set sail with confidence, embracing the freedom of the open sea without unnecessary financial stress.
So, how do we make money while travelling?
We don't have investments, pensions, trust funds or inheritance. We have limited funds put aside for some emergency repairs, healthcare and airfares but on the whole we earn on the go. The “gig economy” has made it easier than ever to earn remotely. Here’s how we do it.. and how you can do it too!
This is an ongoing process and only time will tell how successful we are in our aim of supporting our travels full time. We’re not quite there yet, but we’ll update our progress and share our insights as we go!
We Rent our Home
Home rental is our main source of income and covers the basic costs of sailing and travel. We did a lot of work on the house and researched the market well before renting ours and were lucky to find good tenants, a robust online rental agent Open Rent and reliable friends.
We rent our home through Open Rent
We Sell Digital Downloads (now on hold)
In the UK, Woody had a furniture design business - Rat and Pallet - making bespoke industrial style furniture from recycled building materials. He converted the plans, cutting lists and instructions into downloadable PDFs, so makers can now create their own DIY furniture using these easy to follow instructables - Available from ETSY.
We Sell Digital Downloads through ETSY
Woody Wrote a Novel - but it was banned!
OK, this didn’t go so well! Woody wrote a satirical novel on political correctness (Now referred to as ‘Wokeness’) under his pseudonym Phil Hipside. The initial reviews for ‘Kill All Men’ were fantastic and he even secured a top literary agent, but promotion was banned on Amazon and Facebook for being too.. politically incorrect and ‘anti-feminist’. Woody even had his Facebook account temporarily frozen because of it. He re-released it on Amazon under a new title, ‘The Political Correcting of Carl Waxman’, but it’s promotion was banned again.
Clearly not everyone shares Woody’s unique sense of humour, but if you’re a Ricky Gervais or Johnathan Pie fan - you’ll love it.
NOT SUITABLE FOR CHILDREN. 18+
Woody wrote a book, “The Political Correcting of Carl Waxman”
We Run TWO Youtube Channels
Travel vlogging is a very crowded market so we try to focus on our niche - which is Family Travel and Sailing Blogs and Sailboat Maintenance Blogs. We’ve gained a healthy following on YouTube with subscription and advertising revenue covering filming, editing, data and ice-cream costs. We’ve also managed to negotiate discounts on essential equipment such as Battleborn Lithium Batteries and even been sponsored because of on our Youtube following. Mostly however, we do it for fun.. and for something to look back on in our retirement!
We run Youtube channels: Mothership Adrift and Mothership Maintenance
We Write Travel Articles for Magazines
This one is a bit sporadic but it does bring in some cash occasionally, especially when accompanied by photos or videos for online magazines or news organisations. We’ve had articles published in many of the leading travle and industry magazines who are always hungry for a new angle. To see our written articles on Newsweek, Lonely Planet and other magazines, click Here and scroll to the bottom.
Patreon
Our Patreon family has been steadily growing over the years. It's turned into a supportive little community where we share unedited up-to-the-minute video diaries straight from the cockpit. Their support has become a vital part in sustaining our voyage so we have introduced many cool NEW things recently including FREE weekly guidebook posts, even MORE behind-the-scenes video diaries, video masterclasses and even mentoring. We see this as having the biggest potential for sustainable income.
⛵💰 #SailingFinances #FamilyAdventure #FinancialPreparation
Further Reading: "Get Real, Get Gone: How to Become a Modern Sea Gypsy and Sail Away Forever" by Rick Page and Jasna Tuta.
Further Reading: “Stay Real, Stay Gone: More transformational tricks and tips to help you downsize your life and escape the rat-race under sail” by Rick Page and Jasna Tuta.
Books that addresses financial preparation for a sailing adventure. This practical guide provides insights into the financial aspects of transitioning to a sailing lifestyle.
It covers topics such as budgeting, reducing living costs, and creating sustainable income streams while living on a sailboat. The authors draw from their own experiences and those of other sailing families to offer valuable advice on making the dream of sailing away a financial reality as well as offering information and techniques to keep the dream on track.
More than a list of useful sailing life hacks, these books are also a collection of philosophical approaches to help you maintain the dream of a better life afloat through simple, sustainable living. It is an excellent resource for families looking to navigate the financial aspects of their sailing adventure
Do you have your own recommended reading material or other suggested resources on financially preparing for a sailing adventure with a family, that could be included here? If so, drop us a line via the contact form.
