Student lives on £800 yacht to save on rent

4 Min Read

We love listening to money-saving tales from college students who get inventive with their finances and their lodging. However Joe’s story has to take the biscuit!

joe pearce yacht

Do you wrestle to search out the cash for a deposit or just hate the concept of throwing cash at landlords? Maybe it is the 8am inspections and viewings that ruffle your feathers.

Properly, take into account taking a leaf out of Joe Pearce’s ebook. To keep away from spending most of his Upkeep Mortgage on lease, he purchased a yacht to dwell on whereas finding out at Aberystwyth College.

Be aware: This information story is from 2013, however the details about common lodging prices has been up to date since.

Joe lived on his boat for 14 months whereas he accomplished his grasp’s in Bodily Geography. He discovered ‘The Golden Cloud’ – nonetheless seaworthy at 42 years previous – on-line for simply £800. That is the equal of round a month and a half’s lease (and, because the proprietor, he can at all times promote the yacht on).

The one lease he paid was £1 a day to maintain his yacht within the harbour. That is £365 a yr (£366 throughout a bissextile year), which is much less than simply one month’s lease (£535, FYI) for the common scholar.

student joe pearce on yacht

He was sharing a flat along with his girlfriend, however after they cut up up he could not afford the lease on his personal. Joe made the choice to save cash and dwell on a ship as an alternative, saving an enormous £5,600.

After I was finding out for my grasp’s I realised I could not afford to maintain residing in a flat. I used to be sharing a flat with my girlfriend, and we’d cut up the £100-a-week lease between us.

However after we broke up I’d have needed to pay round £400 a month on my own. So I then got here up with a loopy concept to purchase a ship to dwell on.

He describes residing within the boat as “luxurious tenting” and like being in a “wood tent”. The events he is hosted have already gone down in Aber legend!

It was a lot enjoyable residing on the boat – I saved some huge cash and I’ve nonetheless received it and use it to go fishing across the island.

The boat has received a lot character and it is formally my boat.

student joe pearce fishing from his yacht

Joe, not being afraid of diverging from the norm to discover a approach to lower your expenses on lodging, is an inspiration to us all. Granted, the Manchester canals won’t be as welcoming to a 23-foot yacht as a Welsh seaside city, nevertheless it does go to indicate that considering exterior the field can fairly actually repay.

If you happen to’re actually not hooked up to creature comforts (and central heating), you may wish to observe in Ken Ilgunas’ footsteps and dwell in a van whereas finding out. Or go full Bear Grylls and construct a cabin within the woods!

Tip: earlier than placing down a deposit on any kind of lodging – boat or in any other case – evaluation all of your residing choices factoring in payments, meals procuring and social bills.


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