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When you had a child or tough financial year did you hang onto the boat or sale?

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Old 07-06-2011, 06:41 PM
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Default When you had a child or tough financial year did you hang onto the boat or sale?

I hope to get some responses here from some older individuals who have been through parenting. I have a 2 year old son now and a 1989 Sonic 30ss. We have used the boat less and less this year because he has had several surgeries that cost me a few grand and the boat cost me a good chunk of change at the beginning of the year. This has been my first year since boating that money has been tighter and I can afford to own the boat just not use it as much as usual. I am trying to decide rather to sell it and get another one in 2013 or just to hang onto it and make payments on it to build some equity in it. I am curious what others did or how you found it useful. I do some financial assistance on the side and I see that most of the time once children are out of daycare young parents pocket books seem to ease. I know this could be situational but I also know for a fact where my career is headed and that I will be making more money than I am today in 3-4 years in my family business. Any insight on what your decision was would be great. Please don't turn this into a preaching ceremony just answer the question.
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Old 07-06-2011, 06:59 PM
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My .02 cents for what they are worth. If you can unload it now, do it. Sit out the next year or two and save the $$ then get back into the game. I have twins and they are 21 now, so I've been there and done it.
Personally...I love to sleep and not worry about owing $$.
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Old 07-06-2011, 07:10 PM
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My only comment would be that a boat is a "thing" that can always be replaced. A child is a whole different deal. I still have my boat, lost my child 12 years ago, would give it all away to switch that. Follow your heart, you will never regret that. When we leave this world we will not be judged or remembered for what we had, only for what we did for those we held close to us. Hope everything works out for you and your child!
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Old 07-06-2011, 07:15 PM
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this year, i lost my job my wife is in nursing school and i have 2 kids one boy 5 years old and my daughter 12 both go to private schools i have a house so mortgage to pay etc on bills, i have had 11 surgeries for colon cancer colitis ,chrons diease, adhessions scar tissue surgery, my doctors told me this year to apply for disability, i have no insides left ,i have a illeostomy and on duragesic fentanly patches and percocet , and i still have my boat was going to sell it but that the only thing thats keeps me sane, stay strong
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Old 07-06-2011, 07:23 PM
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this year, i lost my job my wife is in nursing school and i have 2 kids one boy 5 years old and my daughter 12 both go to private schools i have a house so mortgage to pay etc on bills, i have had 11 surgeries for colon cancer colitis ,chrons diease, adhessions scar tissue surgery, my doctors told me this year to apply for disability, i have no insides left ,i have a illeostomy and on duragesic fentanly patches and percocet , and i still have my boat was going to sell it but that the only thing thats keeps me sane, stay strong
sorry to hear about all that but I understand what you mean about it being you happy place. That is what it is for me also.
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Old 07-06-2011, 07:27 PM
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My only comment would be that a boat is a "thing" that can always be replaced. A child is a whole different deal. I still have my boat, lost my child 12 years ago, would give it all away to switch that. Follow your heart, you will never regret that. When we leave this world we will not be judged or remembered for what we had, only for what we did for those we held close to us. Hope everything works out for you and your child!
Yeh, we by no means are roughing it..... just basically have a toy sitting in the garage that I want to be on every weekend just cant afford $150/weekend in gas with everything that has come up this year. We are getting to go out maybe 1-2 a month instead. Letting it sit there and not using it is not hurting anything other than my heart I am blessed to have the opportunities I have so this is not the end of the world to me. Just more trying to make a smart decision than "keep the ship from sinking".
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Old 07-06-2011, 07:42 PM
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just another useless opinion but letting the boat sit for the next couple of years is not going to build any equity. the boat is going to depreciate while you continue to make payments plus after a couple of years you will have to spend money to make sure is it ready to use again. If you can find a buyer then sell and put the payment money in the bank in case you need it for your child and if not and the time comes to buy another you will have a nice down payment for a newer or nicer boat than you have now.
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Old 07-06-2011, 08:28 PM
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Boats depreciate. It's impossible to "build equity". It's a piece of "fiber re-inforced plastic" Get another one when things are good and take care of the family and sleep at night. I'm 39 and am going on boat number 14. Dont sweat it.
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Old 07-06-2011, 08:29 PM
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Then again... I'll always be 39 LMFAO
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Old 07-06-2011, 08:37 PM
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Change your boating habits. We went from using a tank of gas running around every weekend to simply hanging out at the docks or the cove tied up. Now a tank last me 2 months and having the best time ever. Just being on the water is all I need.
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