We declined on rejoining the boat club we belonged to for the last five years and now that the weather has jumped up into the 80s, I’m wondering how much we will miss it?
Financially, it certainly was a terrific deal. We paid $3K a summer and had unlimited uses of a terrific fleet of speedboats, cruisers, pontoons, and water ski boats. I wrote in this post about how much we liked it and how much money we were saving.
Perhaps the best financial aspect of belonging to a boat club happens when you decide to quit. That is, you don’t have a much-depreciated boat to sell. You can walk away without a care (or cost), other than what you’ve paid over the the time you belonged.
For us, that adds up to about $15K expense over five years to use $90K-$110K boats. I doubt we would have gotten away with less cost by owning a boat over that period of time. Especially with the cost of a slip to store it. And, now we have an extra $200-$250 a week in our budget for other summertime diversions this year!
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