If you love being on the water, investing in a new boat may be your next project. Figuring out a budget and saving a portion of your paychecks are important steps to take before heading to the dealership to buy a boat. Try these tips to help you put money aside.

How to Save Money for a Boat

1. Figure Out Pricing

Decide on the type of new boat you want, whether it’s a fishing boat, pontoon, or another style, and research how much it typically goes for. Take into account different makes and models so you have an idea of the price range. Also, price out fuel and maintenance costs as well as necessities like insurance.

2. Check Your Finances

Once you know how much it’ll cost, begin your savings plan. Look at your monthly expenses and see what you can afford to put aside. Track your spending against your income to get a better idea of your financial flexibility. Consider having an account set up specifically for a boating budget that can later be used for expenses tied to the investment.

3. Make Cuts

The sooner you can stockpile your money, the more quickly you can buy a boat. Tighten up your budget by making cuts to your monthly expenses. Limit how many times you eat out and make coffee at home. Reconsider services that you don’t use or need such as cable package extras, and put that money toward your new vessel.  

4. Automate

Use technology to your advantage and set up automatic transfers so money meant for the boat is sent directly into savings. This way, you won’t forget to move money. Linking checking and savings accounts is easy on most bank websites, and institutions usually allow you to set up daily, weekly, or monthly transfers.

When you’ve saved enough to buy a boat, head over to Premier Boating Center in Lincoln, NE. With an inventory of used and new boats as well as boat accessories for all of your sailing needs, the location offers every customer a friendly, knowledgeable staff to assist with each decision. They also provide financing options. Call the boat dealer at (402) 464- 4791, or visit them online for a look at their options.