Gas-Saving Tips for Boaters

Estimated reading time: 7 minutes

a gas pump in a boat, water in the background
Courtesy of Southern Boating

Most boaters enjoy fishing, water sports, and taking care of their vessel, but there’s one thing they all dislike: spending more money than they have to. From determining your optimum boat speed to replacing old tech, there are several ways to improve your fuel economy. Set sail with us as we explore these gas-saving tips for boaters!

Optimum Boat Speed

Courtesy of Tekscan

If you want to save gas while boating, it’s crucial to find the optimum speed for your trip. To do this, you should start at a slow speed and gradually increase it until you reach the planned speed while monitoring your boat’s speed, rpm, and fuel consumption. By calculating your boat’s fuel efficiency at each speed level, you can identify the speed that provides the highest fuel efficiency while still meeting your trip’s purpose. It’s essential to remain flexible and adjust your speed as needed depending on the current conditions, such as wind, current, and waves. Finding the optimum speed can maximize your boat’s performance, save on fuel costs, and reduce your environmental impact.

New Gear

trim tab on a boat
Courtesy of TheFisherman

In addition to making changes in behavior, many tools and gear exist that help with gas-saving.

Trim Tabs

While the buoyancy factor of boats keeps them afloat, it does not prevent them from turning over. Choppy waters can prove dangerous, if not deadly, to boaters — but trim tabs alleviate that stress. When a vessel creates a bow wave, it stresses the engine as the boat fights gravity in its upward tilt. When the skipper, the person driving the ship, operates trim tabs, the trim tabs move up or down to counteract the bow wave. Thus, trim tabs improve ships’ fuel economy and engine longevity.

Courtesy of Bennet Trim Tabs via Youtube

Fuel Flow Meter

Whereas a fuel gauge shows how much gas sits in the tank, a fuel flow meter tracks fuel consumption and the transfer of fluid. Fuel consumption depends on various factors, such as the environment and wave activity. When sailing in choppy waters, the engine consumes more fuel to compensate for the stress. While this seems like a given, this morsel of data, represented by gallons per hour, proves a gas-saving benefit for boaters on future excursions. However, the ability of a fuel flow meter to report data accurately relies on regular maintenance. For example, an old, clogged fuel filter may result in inaccurate data.

Cabin Refresh

person working on a boat engine
Courtesy of Fishing Booker

When thinking about fuel economies and maximizing our gas usage, you likely don’t think about the little things. But a little can go a long way.

Filters

One item that’s ready for replacement? Filters. The two primary filters on any vessel are the air and fuel filters, which filter out contaminants in their respective directions. The fuel filter prevents particles and water from entering the complex ecosystem of the engine, but the concept of a new fuel filter is somewhat ironic. The phrase “as good as new” does not apply to fuel filters, as new filters are much more open and let more matter through. Over time, filters build up contaminants, but surprisingly, particulates on the surface actually aid in catching other foreign matter. However, once the filter accumulates too much waste, you risk that same matter being pushed through.

Oil

Like cars, oil changes for boats are an essential part of regular maintenance. The oil acts as a lubricant to prevent friction among the organs of the engine, as without oil, the engine wears down exceptionally fast. The oil cleans by collecting debris, such as dirt and contaminants, that enters the engine over time. But, like filters, there comes the point where the oil becomes dirty and negatively affects the motor. Boaters will know it’s time to change the oil when it becomes dark and sludge-like, but it should be changed at least once every 100 hours of use. Additionally, while changing oil aids fuel efficiency, it will also increase the longevity of an engine.

Propeller

Without propellers, often called props, boats do not move. Sharp edges on a propeller cut through the water easily, but a nicked or damaged propeller blade causes multiple issues. Firstly, a damaged propeller does not glide or provide consistent propulsion through the water. Secondly, and along that same vein, many boaters rely on increasing their speed to counteract this, but that causes strain on the engine. It is generally recommended to replace propellers if the damage caused is between 10%–15%.

Weight, Friction, and Drag

the hull of a boat
Courtesy of Yachting Monthly

Beyond behaviors, tools, and gear, two of the most critical factors in improving your fuel economy are the weight distribution onboard and friction against the water.

Weight

While trim tabs aid in redistributing the weight or angle of a vessel, these should not act as a stopgap. Just because a boat supports a particular weight does not mean it should. Remember to pack only the essentials, as hauling too much weight forces your engine to work harder.

Friction and Drag

We’ve commented on friction regarding propellers, but other elements affect a vessel’s speed and fuel economy. A clean boat, free of debris, travels swiftly through the water. If you store your boat in water, marine life can thrive on the hull, like algae, barnacles, and mussels. Naturally, these hinder performance; likewise, too many items atop the ship cause air drag. In an effort to improve speed and fuel efficiency, boaters may choose to wax their hulls, but the evidence is inconclusive as to the effects. Proponents of a waxed hull claim that it “helps reduce drag and improve[s] your glide in the water,” but opponents to this concept state that waxed hulls “drag air molecules below the surface of the water,” which increases drag.

Now that you know these essential gas-saving tips, you’re ready to tackle lake and sea, but do you know which boat is best for you?

How to Achieve a Healthy Debt to Income Ratio

Of all the New Year’s resolutions, getting your finances in order is among the most popular goals there are. A challenge we all face when it comes to managing money, however, is setting priorities.

For some people eradicating debt and obtaining financial freedom are their primary goals. Others prefer to stick to the minimum credit card payments and put any extra money toward investing. If your investments earn a higher return on investment (ROI) than your debts cost, it’s a sound decision.

Usually financial priorities come down to personal preference. But when planning to buy a lake home, particularly if it will not be a primary residence, there are other factors to consider.

Debt-to-Income Ratios

Your debt-to-income ratio is all of your monthly debts and obligations divided by your gross monthly income.

When you apply for a mortgage, lenders will go through all of your finances with a fine-toothed comb. Your debt ratio is the “number one way lenders measure your ability to manage the payments you make every month to repay the money you have borrowed”, according to the Consumer Financial Protection Bureau.

So let’s say each month you pay $1,000 for your mortgage, $300 for the car insurance and $500 for everything else. That’d make your monthly debt $1,800. If you bring home $5,500 each month, your debt-to-income (DTI) would be 33 percent.

Forty-three percent is typically the highest ratio that will qualify for a loan. Lenders, however, prefer to see a debt-to-income ratio lower than 36 percent, with no more than 28 percent of the debt going toward your mortgage.

So when managing money, it’s important to be prepared for what the lenders will be most inclined to approve. That means reducing debt should be your main priority if you see a lake home in your future.

Moving Toward Financial Freedom 

The average U.S. household has $8,284 in credit card debt, according to a 2018 report by Fortune magazine. If debt is standing between you and your dream home, here are some strategies to get things back on track. 

Create a budget so you can take inventory of your finances and differentiate your needs from your wants. Before you can pull yourself out of a deep debt hole, you have to stop making it deeper and claim more control over your purchases. 

This might mean fewer daily lunches with coworkers, as those meals can add up pretty quickly. If you spend $10 on lunch every weekday, that’s $200 a month.

One effective tactic is the debt snowball method, when you pay off debts in order from lowest to highest balance. The idea is to get one balance paid off rather quickly and use the extra money available to begin paying off the next balance. Over time, each debt you pay off builds momentum for paying off the next one, like a snowball grows as it rolls downhill. To make a meaningful and timely dent in your debt, pay considerably more than you’re required to each month. If possible, pay more than twice the minimum amount due.

Debt consolidation is also an effective option for millions of Americans. This works best for those who have debt scattered in different places, all with various interest rates. Consolidating all your debt into one new loan is likely to reduce the interest rates on some of your older debts.

Try to put work bonuses, money from side gigs, or the repayment of a personal loan toward your balances. It’s important to resist the urge to blow extra cash on non-essentials rather than retiring debt that is accumulating interest.

But paying bills doesn’t have to be seen as a punishment or as embracing austerity. Each time you reach a debt payoff milestone treat yourself in a small but meaningful way. Have a cheat day on your diet or enjoy an affordable indulgence, like a massage or a special dinner. Anything is fine, as long as you don’t put it on your credit card.

A big part of wrangling in out-of-control debt is self-discipline. Paying off looming balances often requires sacrifices and lifestyle changes now in exchange for a healthier DTI in the long run.

It’ll all be worth it when you’re lounging in an Adirondack chair with a cold drink as you take in the view of your new waterfront home. After all, what’s the American dream if you don’t have to work for it?

Financially Preparing for Retirement

Depending how close you are to retirement you may be just starting to think about saving. Or you may be thinking that it is too late to start. First, it is never too late to start but, the earlier you start, the better opportunities that may be available for you.

You may see yourself cruising the lake on your pontoon boat or reading on your dock, but to reach that point takes plenty of planning.

Set a Goal and Stick to It!

saving for retirementMost people spend more time planning trips to the grocery store than they do their own retirement. There is a way to find out how much you should be saving for retirement.

Websites such as ChoosetoSave.org will help you get in the right track to financially planning for retirement. Make sure you have all your paperwork ready for calculation so you can get an accurate account of where you stand financially.

What does Retirement Mean to you?

It is extremely important to make sure you have a plan. Most individuals have no idea what they are retiring to and how they are going to survive. You must first figure out what your plans are after you retire.

What kind of lifestyle do you want to live? A condo on the lake or in a gated community on the golf course? Or maybe you would be happy with a little 1 bedroom fishing shack? The cost to lake retirement can vary greatly and it’s best to know what you want well in advance.

Get your Debt under Control

DebtNow is the time to start paying off loans and debt. Do not apply for credit you simply do not need and stay away from high-interest credit cards and loans.

Hire a Financial Advisor

Now is not the time to assume you have everything financially under control. It is time to talk to a professional. Make sure you have all the right investments and everything is headed in the right direction.

See if your advisor can recommend any other retirement plans such as an annuity or an IRA. It depends on what your current situation is but consulting a professional will make a big difference in the choices you make.

Retirement is no Laughing Matter

Only you can decide how you want to live and what you want to do with your retirement. Those are decisions not even a financial advisor can answer for you. Once you decide on a solid plan, you can then begin planning financially for retirement. Start early and keep your finances in order. Watch your credit score and keep your debt under control. These are all things that will heavily impact how much you will get to enjoy your retirement.