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Doing the Sums


El Perro Negro

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Hi there people. It has been a while since I posted on here due to some health problems, but am now, once again, fighting fit and contemplating buying a narrowboat. I am currently living in Spain and my house is on the market again, etc etc...My question is, would it be feasible to 'survive' on a monthly income of £ 440 back in the UK?. I know its a sort of 'elastic' sort of question and am sure there are many people with a wide range of incomes who are already 'living the life' and it would be good to get some input from you guys and gals. I can allocate £35k for the boat and it will be bought outright, with survey etc., I will also be planning on having a £10k buffer for the annual stuff, Licence, insurance, safety cert. and possible winter moorings, although I do plan to Continuous Cruise for as long as possible. I am 62 years old and within 3 years will have my UK single person pension to add to the pot, so to speak. I don't drink or smoke and have few expensive excesses in life apart from my 2 dogs, a very simple life in fact. (10 years of living through the Spanish crises has helped prune down the excesses). Your comments will be most welcomed, thanks.

 

P.S House for sale in Inland Spain....anyone ? !!

 

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Welcome back Mr. Black Dog!

It wouldn't be feasible for me, but as you imply, different people have different expenditure and requirements. I think my reply would be "Yes, until something unexpected comes up" - which it surely will! But your "buffer" may be adequate to cover such events, at least until your pension starts to arrive.

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Of course it is possible. Whether it is comfortable, only you can answer that.

 

Personally, and I am similar vintage to you, I wouldn't contemplate living on a boat in the UK without going into a marina for the winter months. That could be a significant expense based on your current budget.

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Perhaps allocate less on the boat and increase the buffer a bit. For sure some solar will cut down your outgoings thru summer.

Of course it is possible. Whether it is comfortable, only you can answer that.

 

Personally, and I am similar vintage to you, I wouldn't contemplate living on a boat in the UK without going into a marina for the winter months. That could be a significant expense based on your current budget.

 

Just as cold in a marina. Towpath is cheap just needing some common sense before and thru winter.
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Welcome back Mr. Black Dog!

It wouldn't be feasible for me, but as you imply, different people have different expenditure and requirements. I think my reply would be "Yes, until something unexpected comes up" - which it surely will! But your "buffer" may be adequate to cover such events, at least until your pension starts to arrive.

Thanks Athy, its the 'unexpected' that worries me. Having to go 3 years without any major problems, is a problem itself....unsure.png

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There are lots of variables here, and as Starcoaster says it's a bit unclear what the £440pm is intended to cover. But with a bit of planning and determination and frugal living my guess is it should be possible. It's going to help if you're fit, and have a range of skills to do things for yourself, particularly to do as much as you can of your boat maintenance.

 

If you mean that your pension coming in three years' time is additional to the £440pm, I think that once you've got that far things will then get easier for you. Before then you could consider trying to find some other small income, as the first few thousand would be tax free until you've used up your annual allowance.

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Of course it is possible. Whether it is comfortable, only you can answer that.

 

Personally, and I am similar vintage to you, I wouldn't contemplate living on a boat in the UK without going into a marina for the winter months. That could be a significant expense based on your current budget.

Well luckily I'm not a creature comforts sort of guy, but am hoping that a damn good multi-fuel stove and well chosen winter mooring sites might get me through the worst. What sort of monies would you set aside for a 50' boat in a marina for a winter period?

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Perhaps allocate less on the boat and increase the buffer a bit. For sure some solar will cut down your outgoings thru summer.

Just as cold in a marina. Towpath is cheap just needing some common sense before and thru winter.

Thanks for your reply. Was planning on getting as newer boat as possible to hopefully avoid expensive repairs, hence only my £10k buffer, but a suppose its in the hands of the 'pre-verbal' man above !!, Thanks

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Can you clarify what the £440 will/will not need to cover? Is your 10k buffer an annual figure and one that is assigned to any boat-based expenses, with the $440 being purely for your own cost of living, or something else?

 

 

There are lots of variables here, and as Starcoaster says it's a bit unclear what the £440pm is intended to cover. But with a bit of planning and determination and frugal living my guess is it should be possible. It's going to help if you're fit, and have a range of skills to do things for yourself, particularly to do as much as you can of your boat maintenance.

 

If you mean that your pension coming in three years' time is additional to the £440pm, I think that once you've got that far things will then get easier for you. Before then you could consider trying to find some other small income, as the first few thousand would be tax free until you've used up your annual allowance.

Hi there both, The £440 pm has to cover all living expenses for me and 2 dogs for 3 years until my State pension kicks in, then I should double my monthly income. That would be for:- food, gas, coal/logs, diesel, water (?), internet/phone, clothes, medical prescriptions and the odd pint in a pub !! I am hoping that the £10k start up buffer will cover all the annual costs of the boat for the 3 years (about £3,300 a year) until my pension kicks in. i.e. licence, insurance, safety cert. (if necessary) and the odd mooring fees. I did do a detailed costing about 3 years ago, when the project first materialised and then it was manageable, but lost all my data and laptop in a thunderstorm !!! (Spanish electrics...Hmmm) Just to add that I am pretty handy with basic mechanical things, electric, water, woodwork etc having renovated my house over here, but diesel engines in depth could be a big learning curve. Am also a lot fitter and healthier than before, there is no other way to go after a heart problem and have had the all clear for well over a year now.

 

Hope that clarifies things a bit, and thanks for your replies.

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I manage on little more than your sort of budget and don't consider it too frugal.. I don't pay for a winter mooring just move more slowly and make sure I'm near a sanitary station and source of supplies when bad weather beckons. I also smoke, drink a little bit more than the odd pint (don't laugh those who know me) and run a camper van. And I'm older than you, also looking forward to the extravagances afford by the state pension in a little while.

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Hi there both, The £440 pm has to cover all living expenses for me and 2 dogs for 3 years until my State pension kicks in, then I should double my monthly income. That would be for:- food, gas, coal/logs, diesel, water (?), internet/phone, clothes, medical prescriptions and the odd pint in a pub !! I am hoping that the £10k start up buffer will cover all the annual costs of the boat for the 3 years (about £3,300 a year) until my pension kicks in. i.e. licence, insurance, safety cert. (if necessary) and the odd mooring fees. I did do a detailed costing about 3 years ago, when the project first materialised and then it was manageable, but lost all my data and laptop in a thunderstorm !!! (Spanish electrics...Hmmm) Just to add that I am pretty handy with basic mechanical things, electric, water, woodwork etc having renovated my house over here, but diesel engines in depth could be a big learning curve. Am also a lot fitter and healthier than before, there is no other way to go after a heart problem and have had the all clear for well over a year now.

 

Hope that clarifies things a bit, and thanks for your replies.

 

Think there might be a few things missing from that list!

Licence?

Insurance?

Contingency?

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personally i wouldn't go for winter moorings it will eat into your budget , stay on the towpath and forage wood for the fire, there's plenty about if you look for it and saves on buying coal.


 

 

 

Hi there both, The £440 pm has to cover all living expenses for me and 2 dogs for 3 years until my State pension kicks in, then I should double my monthly income. That would be for:- food, gas, coal/logs, diesel, water (?), internet/phone, clothes, medical prescriptions and the odd pint in a pub !! I am hoping that the £10k start up buffer will cover all the annual costs of the boat for the 3 years (about £3,300 a year) until my pension kicks in. i.e. licence, insurance, safety cert. (if necessary) and the odd mooring fees. I did do a detailed costing about 3 years ago, when the project first materialised and then it was manageable, but lost all my data and laptop in a thunderstorm !!! (Spanish electrics...Hmmm) Just to add that I am pretty handy with basic mechanical things, electric, water, woodwork etc having renovated my house over here, but diesel engines in depth could be a big learning curve. Am also a lot fitter and healthier than before, there is no other way to go after a heart problem and have had the all clear for well over a year now.

 

Hope that clarifies things a bit, and thanks for your replies.

 

Think there might be a few things missing from that list!

Licence?

Insurance?

Contingency

 

all of which he mentioned

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I manage on little more than your sort of budget and don't consider it too frugal.. I don't pay for a winter mooring just move more slowly and make sure I'm near a sanitary station and source of supplies when bad weather beckons. I also smoke, drink a little bit more than the odd pint (don't laugh those who know me) and run a camper van. And I'm older than you, also looking forward to the extravagances afford by the state pension in a little while.

Thanks Doc, your reply is very comforting to know. Earlier I was contemplating leaving this new adventure till I reached state pension age and more income, but the time is right for me now. Cheers

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personally i wouldn't go for winter moorings it will eat into your budget , stay on the towpath and forage wood for the fire, there's plenty about if you look for it and saves on buying coal.

all of which he mentioned

Thanks GoodGurl it would be my plan to do exactly what you describe. A think a marina environment is not really my 'thing'

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Stayed in a marina for two nights....once and never again.

 

So close to the boat moored on the next pontoon that not only could you hear them change their tv station

you could hear them change their minds.

 

Rob....

Good one Rob, although I've never been there yet, it sounds horrendous. My place here in Spain has 1 meter thick stone walls so the only things I hear at night are the dogs.....breathing....like minds hey...must be somat to do wif the dog profile pics.....Be good, Tony

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I think it's do able, if you are the right type of person, which it sounds as if you could well be. Forget the winter mooring. Winter cruising can be the best time. Choice of mooring spots, and, in most places you can choose the best day to cruise with a 14 day option. Forage...treat yourself to the book "food for free". It's fun, satisfying, and above all, free! Cook on your woodburner in the winter. If you can get solar to start with, do. Shop in aldi when you can, or end of the day on local markets where possible. Internet, costs vary depending what you need, but EE do 15 g for £20 a month. Try to find a boat with 12v well set up, sockets and fridge etc, it will lessen the charging requirements if you're not inverter reliant. Put some of your boat buying money by for a survey before purchase. Diesel varies depending where you are from around 65p Pl to £1.20, that I know of. Gas around £26. Water points on the system are free. Get a cassette loo to save on pump out costs. Insure your dog's to avoid unexpected vets bills.

If you want it you can do it! We have lived on a shoestring the past year, but it's been a good year!

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Stayed in a marina for two nights....once and never again.

 

So close to the boat moored on the next pontoon that not only could you hear them change their tv station

you could hear them change their minds.

 

Rob....

clapping.gif

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Hi there both, The £440 pm has to cover all living expenses for me and 2 dogs for 3 years until my State pension kicks in, then I should double my monthly income. That would be for:- food, gas, coal/logs, diesel, water (?), internet/phone, clothes, medical prescriptions and the odd pint in a pub !! I am hoping that the £10k start up buffer will cover all the annual costs of the boat for the 3 years (about £3,300 a year) until my pension kicks in. i.e. licence, insurance, safety cert. (if necessary) and the odd mooring fees. I did do a detailed costing about 3 years ago, when the project first materialised and then it was manageable, but lost all my data and laptop in a thunderstorm !!! (Spanish electrics...Hmmm) Just to add that I am pretty handy with basic mechanical things, electric, water, woodwork etc having renovated my house over here, but diesel engines in depth could be a big learning curve. Am also a lot fitter and healthier than before, there is no other way to go after a heart problem and have had the all clear for well over a year now.

 

Hope that clarifies things a bit, and thanks for your replies.

 

As you're 62, you shouldn't be paying for these.

 

I, also managed on a similar amount last year. Completely doable.

 

Good luck!

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If you are of that disposition, you cut your suit to fit your cloth............. So sometimes it might get a little tight. (a shrugging emoticon would have been handy here)

Providing you have simple wants and don't have expensive habits it's perfectly doable

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