Scooter finances

[CapnK]

Ahoy Scooters

It's been about a year since we first started talking Scoot. What a year!

And right now, we're only about 1.25 years away from the planned start.   

I know the US economy is in a bit of a tear right now, and I am not sure how long that is going to last, whether it will get worse, stabilize and start to get better, or just hover hereabouts in a 'bad way' for some time to come...

(And of course, this isn't the place to discuss that - it just has relevance.)

In my business, I deal with people from all aspects of life - caterers, builders, lawyers, fisherman, a real cross section of society. Without exception, everyone is being affected adversely. Heck - I figured that lawyers would be pretty much economy-problem-proof, but even they are crying "no money". And I know that the economic situation has put at least one Scooter in a real bind...

Bummer. In many ways.

So that got me thinking today - How many of the rest of us is this going to have an adverse affect on, or is it having already? Is it something that is going to make it near impossible for most who've planned to participate, to be able to? If so, what can/should we do to maximize the chances for everyone who wants to participate to be able to do so?

I know that if things don't start to change for the better and pretty soon, I will be hard pressed to have the time/money to take a month off next year. If things have not at least begun to turn around by say mid-summer, then there will be no way, unless they turn around really, really fast...

Part of planning a voyage is to look at the intended route ahead, and plan for it, plan for the situations encountered along the way. So I guess that is what I am getting at - I am an optimist at heart, but I do try to leaven that optimism with reality. And the reality I am having to face is that doing the Scoot might be a financial impossibility for myself, if things don't change soon enough, or, heaven forbid, it even gets worse.

 

How is everyone else fairing, I wonder? Is what I am seeing somewhat isolated, or is it something common enough that it needs to be taken into consideration, and planned for, even if the plan is just to re-visit the subject in a few months for a 'status check' and see how everyone is doing?

Input? Thoughts, comments? What say you, Scooters-to-be?

[Captain Smollett]

I refuse to let my life be dictated by money.  Nuff said.

[CapnK]

That sounds great.

[Marc]

Right now, I am taking just one day at a time.  I'll just have to see how much money I will have left in a year, and or save.  Marc

[nowell]

Personally, my "to do" list has been shrinking somewhat. While I am definately not the norm (ie single, young, debtless, etc) it has affected me in the way of being more selective about what I can get accomplished before the leave date.

For the most part im ready to go at a moments notice, however, personally, it means I would have to come back after X ammount of time and pick up work again. While not opposed to this, I was hoping that the scoot would be my start to open ended cruising.

I think every few month status checks would be great!

[CharlieJ]

Not that we are planning to be in the Scoot, but Laura just gave her two weeks notice at her job. She has a ton of sewing work lined up, and we are getting the boat ready for a July (or thereabouts) departure for an open ended eastward cruise- Gulf states, Florida Keys, Bahamas. We have all the chart books in hand now ( Explorer charts, claimed by CSBB cruisers to be THE best)

With any luck at all, we'll be IN the Bahamas when the Scooters arrive and can meet up there.

[maxiSwede]

@Charlie

Great news, enjoy your cruise.

As for us, we are living aboard since mid January. The problem is my business, due to the financail crisis I 've had 4 (!) presumptive buyers drop out since they were not able to get a bank loan to finance it.

I am afraid that our planned departure at the end of May is most uncertain at this point. Hopefully it can change fast, though. we try to keep our spirit high and keep working

All the best!

[Auspicious]

My boat is ready. My expenses are pretty fixed regardless of where I am (and actually go down away from the dock). Income is what it is as long as I can maintain comms, and HF e-mail does well enough for that most of the time. I'm in. Still, it would be a bummer to be waiting at the finish line and not have anyone show up.

[ronc98]

I am hoping my company will be OK.  We have been pretty bullet proof and posted out best year ever last year.  With that being said this year so far has been the worst start ever.  We are rather small and pretty specialized so we will see.   

I live on less then 25 percent of my salary so money is not an issue.  however the survival of the business might now allow me to take a month off just do to the competition and how tight the market is. 

If the company goes completely belly up which is possible, I plan on selling what I can and moving to my boat anyway.  Might was well make the scoot the first part of my extended cruise.

I hope everyone weathers this storm OK!!

[Pappy Jack]

I never thought that my line of work would suffer from a recession (power plant maintenance) but it has. My only income for about four months was unemployment payments . Things are starting  to pick up now but who knows how long it will last . I'm still working toward "The Scoot" and hope like heck to make it but if things keep going the way they have been ...well, I just don't know.

Thinking positive ,

Pappy Jack

[polecat]

About the only thing that will stop me is high inflation - It appears the treasury has increased the amount of money in circulation 271% in the last 5 months.  not good.

(I'm still working toward "The Scoot" and hope like heck to make it but if things keep going the way they have been ...well, I just don't know.

Thinking positive Grin Cheesy Wink,

Pappy Jack)


me to ---- jim

[Lynx]

About the only thing that will stop me is high inflation - It appears the treasury has increased the amount of money in circulation 271% in the last 5 months.  not good.

Is that because we are not using credit cards as much and paying in cash?

[s/v Faith]

  The Fed adds money to the supply to try to make it more available.  There is also a school of thought that says that the money supply increase will stimulate the economy.

  The thinking behind these moves is outside of the scope of SailFar, and would be better off left unaddressed here. 

  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.

[Godot]

I'm still a big question mark.  If certain criteria are met in the next couple of months, I should be just fine (as in better than I was last year) financially.  If those criteria are not met, I will likely start defaulting on debts in the next two months with bankruptcy following shortly after.  I don't sleep much anymore. 

I've been so busy working every second of overtime I can just to keep my head above water, I have done nothing this winter to prepare the boat.  I don't know if I'll be ready in time (I need to be ready by September when I was planning on moving the boat to Beaufort).  It is not looking good.

At this moment I wish we had set a three year target instead of a two year.  But it hardly seems fair to change things for those who are going to be able to make the planned trip.

Hopefully I'll be able to do a Scoot +1 year trip, if I can't make it as planned in 2010.

(an alternate course if financially things pick up, but I can't get prepared in time for September would be to leave around the same date from the Chesapeake and do my darndest to catch up to the rest of the fleet).

My wife is still resolutely against my doing the trip alone.  If I can't get ready in time, maybe I'll throw my thumb out and see if Auspicious is picking up hitch hikers. 

[maxiSwede]

@ Godot

Sorry to hear of your problems.

The financial crisis certainly affects all of us. Obvisously my 'cruising kitty' basically consisting of savings from the last 20 years of hard work is in SEK (swedish kronor) since september-08 our currency has declined 25-30 % against USD and Euro. Not fun. Not much one can do about it either...

Anyway, back to the SCOOT (a SO nice concept!) Couldn't you team up with someone else as a crew? That would calm your 'admiral' a bit too... just a thought!  all the best!

[Auspicious]

My wife is still resolutely against my doing the trip alone.  If I can't get ready in time, maybe I'll throw my thumb out and see if Auspicious is picking up hitch hikers. 

Adam, I just ran forward and stuck a Post-it note on the berth with your name on it. You have a spot until and unless you give it up.

Room for one more if need be. Food costs split, boat costs are mine to bear.

sail fast, dave
S/V Auspicious

[s/v Faith]

Room for one more if need be. Food costs split, boat costs are mine to bear.

sail fast, dave
S/V Auspicious

  Dave,

I just kicked in a grog for the effort... 

[Captain Smollett]

Room for one more if need be. Food costs split, boat costs are mine to bear.

sail fast, dave
S/V Auspicious

  Dave,

I just kicked in a grog for the effort... 

And one from me, too.  That's such a cool attitude, the best kind of cruiser mindset exemplified.

[Capt. Tony]

I don't even like to mention The Scoot outloud for fear of jinxing myself.  As such, we haven't openly comitted to the scoot because things here have been changing so rapidly since last April.  It seems like I'm living closer to the 'edge' every week.  Eh-they can't stomp me out that easily.  I highly doubt I'll starve to death living in America, but, I certainly do entertain the 'what if this happens' scenarios more frequently.  I honestly believe once I finish the boat (using the term loosely) I will breath much easier.

Periodic updates on how others are doing may ease the anxiety.  The camaraderie on this forum alone does wonders for my spirit day in and day out.  Cheers and good luck to all of you.

[s/v Faith]

In my own personal stimulus package I just gave everyone on this thread a grog...