Look, I'll be straight with you.
When Joel Sanders told me he ditched his Watford flat to live on a narrowboat 15 years ago, I thought he was having a midlife crisis. The guy's 57, a comedian, and decided after one cruise ship gig that suburban life was basically hell. His exact words: "I felt like my private space was invaded by other people's noises." Fair enough – we've all had those neighbours who think 2am is prime hoovering time.
The £60K Gamble That Actually Paid Off
Here's where it gets mental. Within a week of chatting to some boat owners in Hemel Hempstead, Joel had bought his first boat and was cruising through London like he'd been doing it his whole life. No practice runs. No "let me think about this for six months." Just pure impulse.
After a year, he upgraded to a 1996 Colecraft for around £60,000. Not exactly pocket change, but compared to what you'd pay for a decent flat these days? It's starting to look like genius.
Since then, he's lived in Nottingham, Birmingham, London, Oxford, Bristol, Reading, and Gloucester. Basically a rolling tour of England's waterways. When your neighbours get annoying, you literally just... leave. Try doing that with a mortgage.
Why Everyone Called Him Mad (Spoiler: They Were Wrong)
Joel's mates gave him three months before he'd come crawling back to dry land. "Most of my friends said I was mad," he told me, and honestly, I get why they thought that. Living on a boat sounds romantic until you realize you're basically camping permanently, but with more expensive problems.
The numbers are brutal when you break them down. £1,600 annually for the boat licence, £800 for heating, plus tens of thousands for upgrades and maintenance. That's before we talk about managing your own water, gas, and electricity like you're running a tiny floating country.
The Dark Side Nobody Talks About
This is where Joel's story takes a turn.
Recently, he found a dead body floating in the canal in Nottingham. Just... there. Floating. Can you imagine calling that in? "Hello, police? Yeah, I'm on my narrowboat and there's a corpse next to my kitchen window."
Joel describes boating as "a life of extremes" – the good days are incredible, but the bad days will test every ounce of patience you have. It's like having a really demanding pet that costs £20K a year and occasionally shows you things you wish you'd never seen.
Would He Do It Again?
Without hesitation. "The things it gave me were so thrilling that I ploughed through the difficulties," he says. There's something about managing resources you once took for granted that makes you feel more alive. Plus, try finding that level of independence in a leasehold flat where you need permission to change your front door.
But Joel's got a warning for anyone thinking this is just a cheap housing alternative: "You need to want the lifestyle." With the housing crisis, loads of people are eyeing up boats as an escape route, but if you're just running from rent prices, you're going to have a miserable time.
His advice? Find the right boat or "you'd have a better quality of life on a park bench." Harsh, but probably accurate.
Fifteen years later, Joel's still out there, moving from canal to canal, managing his floating kingdom. Most days are good. Some days you find dead bodies. But he's saving thousands every year and living exactly how he wants.
Not sure I'd swap places with him, but I can't argue with the results.
Frequently Asked Questions
How can I improve my credit score?
To improve your credit score, make timely payments on all debts, reduce credit card balances, avoid opening unnecessary credit accounts, and regularly check your credit report for errors, disputing any inaccuracies. Maintaining a mix of credit types and keeping old accounts open can also be beneficial.
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Statistics
- As of 2021, the average student loan debt for recent graduates was approximately $30,000, according to the Federal Reserve.
- A survey by the American Psychological Association found that 72% of Americans reported feeling stressed about money at some point in the past month.
- According to the Federal Reserve, approximately 39% of Americans do not have enough savings to cover a $400 emergency expense.
- As of 2021, the median household income in the U.S. was approximately $67,521, according to the U.S. Census Bureau.
- According to the Bureau of Labor Statistics, the average American spends about $1,500 per year on coffee.
- According to a Gallup poll, 56% of Americans report that their financial situation is better than it was a year ago.
- The average cost of raising a child in the U.S. is estimated to be around $233,610, according to the U.S. Department of Agriculture.
- According to a survey by the Financial Industry Regulatory Authority (FINRA), about 66% of Americans could not correctly answer four basic financial literacy questions.
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How To Create a Personal Budget That Works
Creating a personal budget involves several key steps. First, assess your income by totaling all sources of revenue, including salary, bonuses, and side hustles. Next, categorize your expenses into fixed (rent, utilities) and variable (groceries, entertainment). Track your spending for at least a month to gather accurate data. Once you have this information, allocate a specific amount for each category while ensuring your total expenses do not exceed your income. Remember to include savings as a line item in your budget. Review and adjust your budget regularly to reflect changes in income or expenses, which will help you stay on track financially.
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