Making the decision to give up Starbucks to save for luxury sheets led to a change in perspective. Jim and I don't spend frivolously, and we don't put ourselves in debt. That purchase that we really want to make? By saving for it, instead of buying it immediately, allows us to savor it, and really enjoy it! And this change in perspective allowed us to retire in our 50s. It has also given us the freedom to fund our passions – boating and travel – with being in debt.

A Passion for Boating

Jim and I have always owned boats. Many of them were fixer-uppers, but they were affordable. When we had been married about 16 years we purchased our first catamaran, “Two Sheets To the Wind”,  a 1999 35′ Wildcat. “Two Sheets” was not a luxury catamaran by any stretch of the imagination; she was an entry-level catamaran with a few amenities.

But she was comfortable, sea-kindly, and quick! We bought her for a good price and paid cash. She took us all through the Chesapeake Bay, and down into the Bahamas. And we learned a lot on her about sailing cats. But after 4 years it was time to sell her. We listed her with a good yacht broker and within weeks we sold her for more than we had bought her. We bought her for cash, sold her for more than we paid for her, and did this without debt.

Time to Upgrade

We were on the hunt for our next catamaran, and our laundry list of “wants” versus “must haves” was long. We looked up and down the entire East Coast for seven months, and at the end of January 2013 we found her in Annapolis, Maryland.

We drove up to Annapolis that weekend – and it was freezing cold, and snowing. We spend the entire weekend on the waterfront,  looking at “Indigo”, a 2003 47′ Leopard catamaran. Funny thing – “Indigo” was exactly halfway between the size catamaran I wanted (50′) and what Jim wanted (45′).

We looked at her 5 times over that weekend, going through her extensively, and checking out any potential issues. Before we left we made a cash offer on her, and  on our drive home, we got a call from the broker that the owner accepted our offer. Using the money we made from the sale of “Two Sheets” we paid cash for “Indigo.” We were living debt-free, and indulging in our passion of boating all without creating debt.

With “Indigo” we honed our ocean sailing skills and sailed her up and down the Mid-Atlantic coast and the islands of the Bahamas. We even lived on her for several years. In January of 2017 we made the decision to sell “Indigo” and downsize to a smaller boat.

We had narrowed down the boat search to one particular brand of boat – PDQ Power Catamaran. And within days of our listing “Indigo” we had an offer that we accepted.

Downsizing to Luxury

PDQ Power Catamarans are rare. They are no longer being built, and so we had a very small market to search, and the market was right in our backyard in Stuart, Florida. We looked at 4 boats for sale, and make a decision to purchase “Gypsea.” We used the funds from the sale of “Indigo” to purchase “Gypsea” a 34′ PDQ and again, we did this debt-free.

Let Someone Else Take the Depreciation Hit

We have never purchased a new boat. When you purchase a new boat or a new car you take an immediate depreciation hit. I am a firm believer that you let someone else take the depreciation hit. We are careful about what we buy, and thoroughly inspect it. If you are buying used, think about bringing in an expert who is familiar with that vehicle, boat, or RV and have them thoroughly go through it. Doing this may cost a little money, but you will save money in the long run.

A Challenge

What can you give up to begin saving for that special something that will bring a touch of luxury to your life? Drop a comment below and let me know what you are willing to give up this coming week.