Your Boating Econmic Class

[rlb2252]

In this time of harsh economic realities how would you define your financial class:

Are you affluent or upper middle class, easily able to afford the boat you desire and its operation without a significant dent in your disposable income?

Are you middle class, able to pay for the boat and its use but only with careful budgeting?

Or are you struggling at the bottom of the economic spectrum, forced to do your boating on the cheap and perhaps even putting other financial imperatives aside so that you can continue to boat?

 

[rbh]

Re: Your Boating Econmic Class

Strugling but frugal with the buck, everyone has to work in this family if we want to have any fun and a pension to retire on
rob

 

[hazmat5760]

Re: Your Boating Econmic Class

I make good money, but 600 a month is gone to my ex for my kids, 352 towards my mustang ( which is for sale if anyone wants one), and a majority of my money will be going to fixing my mistakes from my younger years when I didn't pay many medical bills.

I'll have enough next year to finish fixing up my boat and then enjoy it without scrunching and should actually have more left over. Should make around 64k next year.

 

[evildocrsx]

Re: Your Boating Econmic Class

I'm definetely in the struggling class. I scrounge up what ever money i can get to buy things to fix up my boat. I wish I could just buy a nice boat that needs no work on it but times are tough.

 

[ftl900]

Re: Your Boating Econmic Class

Dang near poverty class. Living from paycheck to paycheck- my wife makes half of what she did 3 years ago, and I make about a third of my former pay, but things are looking up.

Still, we have a POS boat that needs work, and we're putting sweat equity into it. Some days more sweat than equity, but that's ok too. Looking forward to actually USING it in the water.

While it's much nicer to spring for the new boat and not have to constantly work on it, we went that route a few years ago, and every wiinter, HATED having boat payments while it was in the garage and there was snow on the ground. Of the two, I don't mind working on the boat and making it into what we want.

 

[mike-the-cobra]

Re: Your Boating Econmic Class

I count myself as being very fortunate. I have been at the same job for 20 years and am solid middle class. I can buy toys, yet I have a pickup truck, a hot rod, and a boat, and the only loan payment I have in this world right now is my mortgage on the house. I pay child support for 2 kids, yet they are almost always with me and I pay for everything (figure that one out). Luckily one ends 1 year from this month and the other a year and a half later! That's 2 car payments a month! But then college will start........

 

[skargo]

Re: Your Boating Econmic Class

We learned a time ago to live within our means. I drive old, but reliable vehicles. My wife drives a newer vehicle at them moment, but she miles them out as well. We try not to finance anything unless it's absolutely NECESSARY.
Living like that for awhile will free up money to do whatever you want it seems.

Speaking of economics, I quit smoking 8-9 years ago and just realized that smokes are like $6 a pack!?!?!?! I used to burn through 2 packs a day, especially back in my drinking days. How the hell do smokers afford it these days?

 

[ShaneCarroll]

Re: Your Boating Econmic Class

Well, my nickname is Check-To-Check. The second my check is direct deposited, them bill collectors be coming around. I filed bankruptcy about a year and a half ago, so that has really helped. Before, these bill collectors would call private and pretend to be a good friend, "Hey what's up, this is John, is Shane around?" The conversation would go: "Did you watch that football game? How's your mom? Oh, by the way, are you gonna pay that $15,000 you owe us anytime soon?" Those people have some nerve. I make good money, but my fiancee has three kids from her previous marriage, and the deadbeat dad don't pay for them, or very little if he does pay. He pays just enough to stay out of jail. Day care is a rip off, man, I could be living beach front if it weren't for the day care charges.

I'm still working out of state (same company, they paid for the travel) to make some money, and so far so good. All my bills are paid, I can afford to go to dinner or boating or whatever I wanna do, just don't have a real savings account (401K I don't even touch, let that baby earn some interest), and can't afford to go buy a brand new truck or anything like that. I've been with my current company for two and a half years, worked for Verizon, but their FiOs got many techs laid off, and Bright House didn't pay worth a darn.

 

[triumphrick]

Re: Your Boating Econmic Class

Just settling into retirement..which came a little early since the job went away. However, I was somewhat prepared and with the wife still working we do ok. Social security and a pension provide me with the means to turn some of my hobbies into work.
I have found a niche buying and selling boats and fishing tackle. Thanks to some good information from Tashasdaddy, Don S, Silvertip, JB and rodbolt I have added to my knowledge and am comfortable buying and fixing different rigs.
All in all I feel blessed and give thanks regularly for the life I lead today...

 

[rlb2252]

Re: Your Boating Econmic Class

I'm probably middle to upper middle class--today. But my income is somewhat erratic. I can go long stretches without a check, all the while being bombarded by the requisite payments for mortgage, utilities, and biz expenses.

With that in mind, I'm constantly cognizant of the fact that I can find myself at the bottom of the economic heap if hit by a couple, consecutive bad months. This harsh reality makes me cautious when considering any extravagant expenditures.

I don't have my boat yet. I'll be paying cash when I do get it, though.

 

[scoutabout]

Re: Your Boating Econmic Class

That shredding sound you hear is my fingernails losing their grip on the tatters of what was a pretty good middle-class life.

Like a lot of folks we have taken it on the chin pretty good this last year. Early this year I was invited to stay on at my current company for a tidy discount on what I used to make and I'm glad to have it as some close colleagues are getting shown the door rather regularly. There's more blood to come we were told this week.

And a solid sideline consulting deal is looking like it's heading for a dirt nap which was money I had foolishly counted on before it hatched, so to speak. And finally, we're also on layoff watch for my wife's job which may either evaporate under a corporate restructuring or she may get bumped by more senior union brothers and sisters up the line that may lose their own jobs. (Everyone's family until I need to take your job to keep mine...)

So, while I can still drop a fifty into the tank here and there, we're MUCH more aware of where the money's going that ever before. I was just calculating how may hours I've put on the boat this year and realize we're way down from two years ago. And we won't be buying any new toys for a good long time. We have also made the decision to nurse a ten year-old vehicle on another few instead of trading it in.

Just hunkering down and hoping to weather this nasty economy and dig out of the hole. Luckily my wife's common sense (farming stock) has rubbed off somewhat and we have a relatively modest house we can pay the mortgage on almost without thinking about it. I'd have a much bigger place and much nicer cars if I didn't have her to save me from myself. Love ya dear!

 

[nitsuj]

Re: Your Boating Econmic Class

I've been up and down the last few years. I have no college education, so high paying jobs aren't readily available to me. I spent most of my life as a motorcycle mechanic. Not much money, but I learned skills I found to be very valuable. I left the motorcycle business to work in the medical field. I was repairing high end surgical equipment. For me, the money was excellent. More than I had ever made. At that point, given my income and my wifes, I'd say we were solid middle class. Maybe upper middle. Bought a new truck. My first ever new vehicle. Bought my wife a new car. Bought an expensive motorcycle, all in one year. Other than the bike(Ducati), none of it was extravagant. Wifes car was a Dodge Caliber, my truck was a F150. So new with payments, but not like we got $60,000 vehicles.

Then, I made a critical error. I missed the motorcycle industry. It was my first love. A friend who owns a high end European brand dealer called me and offered me the job of service manager. I left a stable, recession proof job for a gamble. Money was good at first. Even better than the previous job. Then this economic bust hit. First thing to suffer was luxuries like BMW motorcycles. So, I got laid off. Boom. I'm still out of work, but luckily, while buying new stuff, we still lived below our means. No kids, no vacations, so I didn't have to sell my toys when I lost my job.

We're what I'd call lower middle class now. Wife still makes a good living. I get unemployment and do some side work on bikes for people. We're not scraping by, but we do have to be aware of spending. The boat was a good deal from a family friend. No payments. We've been lucky enough to be able to pay for gas for some time out on the water.

Here's the thing, in this job market, I'll be very lucky to get a job making what I was in my previous 2 jobs. So while I need to find a job, there's a very good chances I'll still have to learn to live on less. But that's ok with me. I like my toys, but have no plans to make babies and live in a modest house.

 

[nitsuj]

Re: Your Boating Econmic Class

BTW, RLB, don't think it escaped my attention that you've asked yet another difficult to answer boat question, while still not having bought a boat.

You need to stop thinking about all these incidental boat topics and buy the darn thing!

 

[scutly]

Re: Your Boating Econmic Class

id definitely be upper middle class if i lived somewhere else. on long island im lower to middle middle class. but i do have 20 yrs in at UPS and in 5 yrs i can retire and start collectin a pension. i will only be 48 then so i plan on sellin the house and movin down south to a less expensive and warmer area, hopefully find a cool retiree kinda job and live large on a big boat

 

[RWilson2526]

Re: Your Boating Econmic Class

Thats a darn good question.....according to most recent census figures our household income is around 3 times the national average. But for whatever reason we seem to struggle with money constantly....property taxes, mortage, day care for our 2 year old, after care for our 6 year old, utility bills that seem to be more and more rediculous every year.... On one hand we are lucky...boat, 2 cars, decent house, but our boat cost $4000, we bought our Honda Pilot used and my pickup is the basic bare bones chevy silverado type work truck. We take 1 vacation a year for a week on the beach that we split with another family, 2k for the whole trip. at the end of the day it just seems like we have no money.....god forbid we need a major expenditure...we're screwed.

I dont know...I really cant figure it out.

 

[greatoutdoors]

Re: Your Boating Econmic Class

Well, here's how it goes for me.....I was a mortgage broker for 4 years making around 75k a year with my wife in a marketing position at around 40k. Everything was great, really good money, bought what I wanted with cash--a mustang, a motorcycle, ATV, etc. Also bought an expensive home. Then the mortgage market crashed, my company closed down, and I was out of a job. So, I took the only job I could find in my area (no college degree) doing manual labor for 13.50 an hour. So I went from bringing home from $1,000 up to $5,000 bi-weekly to $836. Then I herniated two discs in my back at that new job, and am in pain all the time. But to be honest, I really can't complain because, even though I am now struggling a little, I still live in the beautiful home, have an amazing wife and two awesome little boys and some of my toys--2 boats and the ATV. Hopefully the damn mortgage market will turn around soon so I could get back to where I used to be financially. It always helps to look on the bright side when your a little down.

 

[Capt'n Chris]

Re: Your Boating Econmic Class

News Flash! Child support never ends, so stop counting.

I count myself as being very fortunate. I have been at the same job for 20 years and am solid middle class. I can buy toys, yet I have a pickup truck, a hot rod, and a boat, and the only loan payment I have in this world right now is my mortgage on the house. I pay child support for 2 kids, yet they are almost always with me and I pay for everything (figure that one out). Luckily one ends 1 year from this month and the other a year and a half later! That's 2 car payments a month! But then college will start........

 

[4JawChuck]

Re: Your Boating Econmic Class

I have three kids, a good job, the wife works part time, and a nice roof over my head.

That makes me filthy stinking rich according to the government.

Filthy I tells ya!!

RLB you get a boat yet? If I can afford it so can you.

 

[redone4x4]

Re: Your Boating Econmic Class

Or are you struggling at the bottom of the economic spectrum, forced to do your boating on the cheap and perhaps even putting other financial imperatives aside so that you can continue to boat?

this is us. move a few things around, get bills paid ahead, and we can go. or, get a bonus or extra $$ at work, and we can go. just the way it is. but the whole family knows how much its worth when we do go. thats the important thing. my boat is paid off, and gets us on the water.

when construction was good, it was different. more of a whatever, whenever scenario.

 

[redone4x4]

Re: Your Boating Econmic Class

RLB you get a boat yet? If I can afford it so can you.

sorry, but i gotta say, +2 on this one????? did you pick one out yet? sounds like you need a searay sundancer 28' maybe?????