Breaking the (piggy) bank
They say that many people would rather talk about their sex lives than about their bank balance. I’m not going to disclose detailed info on either here right now but I will say that I have been investing a little bit of thought in to the latter of the two subjects (that’s money for those who have trouble keeping up). Here is a bit of what I have been working on.
Many people are very good at working with a budget. I am not. For more than the last two decades whenever I needed more money for something I just found a way to make it. I guess I have the belief that our cruising adventure will follow a similar path. We do have some money tucked away in retirement accounts, but if you had asked me yesterday how much we have there would have been no way I could have told you. Today I rounded up a variety of papers, and checked some online accounts, to come up with a “close-enough” figure. My plan is to meet with a good friend and account manager to consolidate these funds and put them into a relatively safe investment that we can periodically draw from, if necessary.
As I have written about at length here, there are still some boat improvements that we need (want?) to make before departing. How much these will cost and where that money will come from is another subject to be discussed.
How are we going to deal with the day-to-day expenses of cruising? Yet another subject to be sorted out. With credit cards, debit cards and online banking, much of this day-to-day stuff should be similar to how it is at home. We do need to ensure that we have bank cards which will work in the dominant machines down south (outside the USA). Strangely, to me at least, I have heard that a (the?) dominant back in the Bahamas is the Royal Bank. We currently don’t have an account with them but perhaps we should open one. My current bank manager at TD-Canada Trust, who if he is reading this, is the coolest bank manager out there, advised us to drive across the border to the States and open an account at a US bank. We may very well do that later in the spring. It’ll make for a nice weekend outing.
To be continued…