Boating on a Budget

If being out on the water is your happy place, then you’re in the right place! Boating is a great way to spend time relaxing with your family and friends – especially as the weather warms up and all the beautiful Kentucky lakes nearby start calling your name.

Boating can get expensive quickly though. Taking time now to consider not just the purchase price and financing costs of a new boat, but also the storage, maintenance and fuel costs can help you save in the long run. Here are a few tips to help you boat on a budget this year and keep enjoying the water for many more seasons to come.

1. Do your research – Shopping for a new boat can be almost as much fun as taking it out for the first time. Take your time and research your options for both purchasing and financing. Well-maintained, used boats and lower-rate loans could save you big over time. Learn more about Abound’s Boat Loans here.
2. Consider sharing the costs - Do you have a sibling or close friend that enjoys boating as much as you do? Even if you don’t, you may want to consider fractional boat ownership. Learn more about this option, and the companies that can help formalize partial ownership, here.
3. Explore your storage options – Slip fees can vary from marina to marina, so explore your options carefully. If possible, the best solution may be a trailer that allows you to store your boat at home – for free. This can also come in handy for saving on fuel as it allows you to gas up on land. Read more about storage and general savings tips on DiscoverBoating.com.

Bonus Tip: Maintain, maintain, maintain – Performing regular maintenance can help you extend the life of your boat and use costly fuel more efficiently. Plus, learning how to do some maintenance and repairs yourself can reduce your expenses while boosting your pride in ownership.

Here in Kentucky, we’re fortunate to have tons of great boating options and a community of other boaters. Joining a group can be a great way to share stories and discuss budgeting tips.

Happy boating!