Money Matters

  • Money is a preoccupation for almost all cruisers. For many the most intractable aspect of money while cruising is the shift from being a part of the game to stepping aside from it. Afterall, our society places so much value on income that it is often very hard for people to voluntarily sit on the sidelines.

    Matthew Stone, S/V Saga

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    Can We Afford to Go Cruising?

    Let Capt. Mike show you how to make your cruising dreams come true, financially that is. This is not a "get-rich-quick" scheme. Click on the 'Getting Your Boat' button: Capt. Mike Web Page. Click on the "Getting Your Boat" button.

    There's no free lunch, but there are possibilities. Remember it's only a plan, you'll still have to work at it and depending on your discipline, timing and individual circumstances it may work for you: Planning Financial Independance

    Can I afford to go cruising for a while? Or forever? Michael L. Frankel tried to answer these and other questions. Financing The Getaway


    W. Bradford Swift talked about how to do more with less. "Even if you finish the rat race in first, you're still a rat." Ten Steps to Simplifying Life


    Some links and resources about travelling, working and living overseas.


    More resources (taxes, jobs, bill paying) on travelling, working and living overseas. ExpatExchange


    Handling Finances and Mail while Cruising : Brian & Mary Alice O'Neill's "Shibui" Chronicles.


    Planning: Retire in Style


    Planning: Six Steps to Retire Rich


    Planning: Take a Year Off - 7 steps to do it right


    How Do I Access My Money While Cruising?

    Re: Schwab and their debit cards.

    Have a Schwab One account and coupled Schwab Access account which is the checking account with a Visa branded debit card. Schwab stated they had all of the safeguards that Visa has in place: $50 maximum loss protection if card is stolen (have to notify Schwab), purchase dispute mechanisms, and they have their own fraud division. Schwab may be atypical but we have been in Canada (BC) with our boat since November and crossed the Columbia Bar in September and it has certainly worked for us. They are even overnighting new checks to us at a BC address at their expense (what service). They also refund ATM charges for cash and give a good exchange rate on all purchases and ATM withdrawls. Maybe the difference lies in the fact they are not a "bank" in the strict definition and do more in the service arena. Contact a Schwab office for more info.

    Mike Folkestad,

    S/V Aquarius, Victoria Inner Harbor, BC

    Almost all major Banks now offers Internet Online Banking. Majority of cruisers now uses ATM Cards to access their funds while travelling. Often one can get better exchange rates thru ATM debit card than local money changers. ATM machines can now be found in almost all countries visited by cruisers. In major cities as well as some in smaller towns. With the proliferation of Internet Cafes around the world, one can now check account balances, pay bills, invest etc. online. (April 2004).