Cruising budgets have gotten complicated with all the conflicting advice flying around. As someone who has spent years living aboard and tracking every dollar, I learned everything there is to know about what it actually costs to untie the lines and go. Today, I will share it all with you.
The Boat Payment Reality
Probably should have led with this section, honestly. A lot of cruisers own their boats outright before casting off, and there’s a good reason for that. Those carrying payments face monthly obligations regardless of whether they’re cruising or sitting at dock. A $400,000 boat financed at 7% creates roughly $3,000 monthly payments—and you haven’t spent a dime on actual cruising yet.
That’s what makes buying a smaller, less expensive boat endearing to us cruisers—owning it free and clear often makes more sense than financing your dream yacht. Cruising freedom comes from low fixed costs, not from having the prettiest boat in the anchorage.
The Ongoing Expense Breakdown
Fuel costs depend entirely on how you cruise. Sailboat cruisers might spend $200-400 monthly on diesel for charging, motorsailing, and occasional motoring when the wind dies. Trawler cruisers should budget $500-1,500 monthly depending on vessel size and how hard you push the throttles.
Marina fees vary wildly—from free anchoring in beautiful bays to $3-5 per foot per night in expensive locations like New England or the Med. Budget cruisers anchor predominantly; those wanting shore power, laundry, and hot showers should budget $300-1,000 monthly for occasional marina stays.
Provisioning costs roughly parallel what you’d spend on land plus a premium for remote locations where everything arrives by cargo ship. Budget $400-800 monthly for two people eating primarily aboard with occasional restaurant meals when you want someone else to do the dishes.
Maintenance: The Number Nobody Wants to Hear
The industry rule of thumb—10% of boat value annually for maintenance—proves remarkably accurate, even though we all hope we’ll beat it. A $200,000 boat averages $20,000 yearly in repairs, upgrades, and maintenance. Some years cost less; others shock you with major expenses that empty your cruising kitty.
DIY skills dramatically reduce this figure. Cruisers who handle their own engine work, electrical projects, and fiberglass repairs spend far less than those hiring everything out. If you can’t tell a multimeter from a hole punch, maybe start learning before you cast off.
The Bottom Line Numbers
Here’s where rubber meets teak. Realistic budgets for modest cruising: $2,000-3,500 monthly for a couple on a paid-for boat cruising inexpensively, anchoring most nights, doing your own cooking and repairs. Comfortable cruising with marina time and restaurant meals: $4,000-6,000 monthly. These figures exclude health insurance, boat payments, and major repairs—the stuff that can derail even the best-planned budgets.
Can you do it cheaper? Some folks do. Can you spend more? Plenty of people manage that too. The key is tracking your own expenses for a few months and building a realistic picture of your cruising style before you burn through your savings.
