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Money Matters Blog

Tuesday, June 21, 2016

Boating On A Budget: Staying Afloat Without Drowning In Debt!

It’s no secret that buying a boat can cost a pretty penny. Some boat-owners like to joke that “boat” is an acronym for “bring on another thousand.” This can be an expensive hobby, but also a rewarding one. Let’s look at a few ways to save money while keeping your dream boat from becoming a nightmare.

1.) Avoid stuff labeled ‘marine’ Retailers know people who own boats tend to have a little more disposable income and expect to spend a lot for maintaining their watercrafts. This leads them to inflate prices on boating rope or boat window cleaner. In many cases, conventional products for land craft will do the same job just as well for quite a few dollars less. Learn other money saving tips for your boat at

 2.) Find a ‘boat buddy’
If you’ve got friends who are heading to the same lake, see if you can split trips. You can take them around on your boat, then they can do the same for you. Not only will this let you both experience being captain and first mate, but you’ll also spend half as much on fuel and get to make quality memories with friends in the process.

3.) Get gas beforehand
Marina prices for fuel are likely considerably higher because marina operators know they have a captive audience. With a 15-gallon spare tank, you can make the trip to a land-locked gas station and save a few bucks on fuel (one of the biggest expenses of the weekend). However, if the gas station sells gasoline with ethanol in it, pay attention to what you are buying. Many gasoline-powered engines (especially older models) were not built for E15, which could damage the motor.

4.) Do your cooking on the water
Sandwiches can get boring and bait shop hot dogs are expensive. Instead, look to step up your cooking game on the boat. A single burner electric hot plate is all you need for stir fry, taco fillings, and other simple dishes. A little bit of planning can help you be more sophisticated. Bring wings and buffalo sauce, cook them up in the skillet, and have your favorite bar food on the water! Make sure you do the chopping beforehand and keep the ingredients in plastic containers in the cooler. Also, only do your cooking at anchor in calm waters.

Michigan boasts the world’s longest freshwater coastline, 99 state parks and thousands of trails throughout the state. Community Financial thinks our members should go out and enjoy it all – so we offer boat, recreational vehicle and power sports loans to make it possible. If you have always wanted to own a boat but were unsure about the financing, stop by any of our branches or call us at (877) 937-2328 for a personalized quote.

Now that summer is officially here, boating can be a great way to unwind with family and friends. With more than 80 Great Lakes harbors and marinas, as well as generous public lake access, there's plenty of opportunity to open up the outboard or lift the sail. Safe travels!

 *Community Financial does not endorse the information, content, presentation or accuracy, nor make any warranty, expressed or implied, regarding the websites and/or apps mentioned above.

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