There is no escaping the fact that owning a boat can be an expensive business, but there are a variety of ways to economise. Here are some tips for you to consider.Berthing is probably the biggest single item of recurrent expenditure. Firstly get a yacht that is just under the 12, 15 or 18m berthing range. There is no point in getting a boat that is just over 12m and find yourself paying for a 15m berth. Marinas tend to give generous discounts for advance payment. With good planning you can take advantage of these discounts.

Shop around for insurance using an insurance broker to get you the best deal makes sense. It’s a competitive market get them to work for you. Many boat owners have very ambitious cruising plans that are then delayed or just don’t happen. Also, by limiting your cruising area, you can save a lot of money and you can always expand it later once you are ready to widen your cruising range.

Anything bought at a specialist marine store will have a hefty markup. You do not have to buy everything at the local chandlery, shop around. As an example batteries can be acquired from battery suppliers for trucks. Tools can be acquired in DYI stores instead of at the chandlery.Unlike cars yachts load hundreds of litres of diesel if not thousands every time you re-fuel. It is worth moving the vessel to a location with a low price. Gibraltar and Morocco are cheaper than Spain. Also if a trip to these destinations is out of the question call around to fix a price before arriving at the fuelling pontoon.

The temptation when cruising is to eat and drink at port side restaurants. Your boat has a perfectly equipped galley and you can save by using your onboard cooking facilities more often. Beers bought at the nearest supermarket are always going to be so much cheaper than at the dockside bars.

The best way to save on big ticket items is regular maintenance. A stitch in time really does save nine! Eventually the boat will have to come ashore for underwater maintenance. Good planning can limit the boat’s fees for time ashore and it also pays to have closed budgets agreed for all the items of maintenance you need to have done. Some yards allow owners to sleep on their boats even when the boat is ashore which gets you a saving of around €60/night per person.Finally it is worth coming to Gibraltar to acquire expensive items such as radar sets. In Gibraltar you can have these delivered to the yacht free of tax as “stores in transit”.