Tuesday, January 16, 2007

More on Finances

I agree that we should pay Barbara back for the $2,500 deposit soon. I will be depositing the checks you all gave me into the BoA account this week. We only have checks right now from 5 couples (actually 4, we don't have one from Barbara & Pat but we'll be giving them the money to cover the deposit anyway so it doesn't really matter).

Does anyone know whether Kathy and Rick (our 6th couple) have committed?, we'd really like to have them!

If we divide the $2,500 by the 5 couples we have so far then we each owe Barbara $500, less the $300 we've each paid in we owe another $200 per couple.
Lets look at it like this... if the 10% deposit was $2,500 then the 25% deposit should be an additional $3,750 for a total of $6,250 (by mid March). So that's $1,250 for each of the 5 couples. We've already deposited $300 each so we each need to deposit another $950 by mid March to cover the deposit.
I propose rounding this out to $500 per month payments for the next two months.
After that, payments of $400 per couple per month should cover the boat with some left over for the other items... of course this is still based on ONLY 5 COUPLES.
The cost for these 2 boats with only 5 couples is approximately $900 more per couple than with 6 couples... not to mention 2 59ft. boats for 5 couples seems like overkill.
We need to get a clear idea of how many couples soon so I can put some more concrete numbers together.
Would everyone be able to contribute $500 on or about February 1 to pay back Barbara and start saving for the additional deposit due in March?
Please comment!

1 comment:

Lysa said...

Amy,

We are happy to do that. How about if we all pay at our next meeting on Saturday the 3rd? By then we should know if we are getting more couples or should consider smaller boat(s). So far I have not heard of anyone else saying "Yes!" Too bad, they don't know what they are missing!

Thanks again for tracking all this,
TL