Typical RV annual budget

Whatever your estimate is, double it. The misc. catagory covers many things that add up in a big way.

Without splurging too much on full featured CGs, without going to restaurants every week, without driving hundreds of miles on average but without skimping on anything we figure $100-$125 per day for running costs.

Then there are the fixed annual costs like storage, insurance, at least $3000 for maintenance. You don't want to hear about depreciation.

Only use it for a few weeekends a year & the per day/use costs really escallate.

If you are trying to compare the cost of owning a RV against the cost of vacation alternatives, you certainly need to include the cost of money (financing, depreciation) in the comparison. Those interest payments could be saved for the vacation, and the depreciation will bite you when you try to sell it 8-12 years down the road and you still owe more than the price at which you can sell it.

I started at $58,000, did not have to finance, but the first year's depreciation was at least $8,000 and that $58,000 would have earned another $4800 had I left the money in my stock portfolio. That $12,000 to $13,000 could have bought a lot of vacation that year, considering that the two months of traveling in the RV also cost about $3000 for gas and about $1800 in RV park and campground fees.

The more you use the RV, the better the cost of ownership spreads out as "cost per day" for vacation. We were not doing too badly at first, 60-90 days a year were working out to about $200 per day of vacation. But when my wife got sick and the RV spent more time sitting in storage, the 3-4 weeks a year we could use it came to more like $500 a night. The 2-3 weeks I am using it now work out to a bit less, about $300 a night, because I am going to campgrounds only 18-30 miles away, and at ten years old the annual depreciation is much less.

wbwood wrote:

Muddydogs wrote:

mich800 wrote:

Muddydogs wrote:
Personally I think if you have to go through all this you probably shouldn't purchase an RV. Can you afford the monthly loan payment, insurance and storage fees? If so then everything else will work itself out. In the end are you putting a price on family fun and enjoying life because tomorrow you might not be around.

You don't need to purchase everything at once, a sewer hose, water hose and a few wood blocks will get you camping then other stuff can be acquired over time. Are you storing the unit under cover or purchasing a new unit? If so then you don't need to pay for a roof check twice a year for the first couple years and you can do the checking if you are able to get on the roof anyway.

That is crazy. Are you saying only the irresponsible use budgets? I was taught the opposite.

No, not sure how you pulled that out? Do you budget for home repairs? What happens if your washer dies tomorrow?

What I am saying is why budget for stuff 5 years down the road or more? If you can afford the initial costs and have enough money in your pocket to put gas in the truck to go camping without eating noodles all week then you are probably ok. A couple posts mentioned food costs, well you have to eat either way so why would that even be a consideration.

Not a good example about the washer. Your washer will not need routine things done like an RV will. And even for the costs of just tires for an RV in about 5 years or so, you can replace your washer/dryer set with a rela nice washer/dryer set. And yes, those that budget, generally set aside a budget or means or replacing things as they happen. Much different for replacing appliances that you almost is nearly a necessity (unless you have other means of washing clothes) and spending $20,000-100,000 on something that is not a necessity. Especially if you are spending every extra penny on the RV, storage and insurance. It leaves you with no operating costs. Now w ecan sit here and argue whether or not one should even consider doing it if it will stretch them out. But that's their personal choice. Many don't believe in financing. Many don't believe in paying to store it elsewhere. And many believe in budgeting and knowing where just about every cent is going. I've never heard a "financial guru" ever tell anyone not to do a budget...

washer these days last about 5 years.
I replaced a 15+ year washer just to have a new one die in 4 years.

but we are getting off topic here :)))

Veik wrote:

beemerphile1 wrote:
I'm curious, you are considering financing an RV at $350 per month for 15 years = $63,000 Since you don't have land to park it there will be storage on top of insurance for another $27,000

My question is, do you also finance (borrow) the money for your current non-RVing vacations?

I couldn't sleep at night if I had to borrow that money and pay those amounts in order to own a depreciating asset.

Maybe a less expensive RV would be in order. Even renting an RV might be an option.

Hopefully you realize that no one can tell you what you will spend on RVing. I had no idea what the cost was when we started and I had been a tent camper for many years. To be honest, I still don't know what the cost is because I don't track the expenses.

yup, vacations go on credit card, credit card paid in full every month, and points earned get rolled into future vacation.

Free stays, free flights, etc.

So you do not finance your vacations currently if you pay the credit card in full monthly. That is also a consideration then as to if you want to take on the debt of an RV.

If you have a less than satisfactory vacation, it is over with and paid for.

If you or anyone finances an RV and then discovers the lifestyle isn't for them/you, the debt is still there for many years.

Many RVs sit unused because people don't want them but can't get rid of them because they are upside down with financing. They have little choice but to continue slogging along making the payments.

This is a true story, a member of my Good Sam chapter has a Monaco Diplomat diesel pusher class A that hasn't left his drive in a couple years but he has a monthly payment in excess of $800. He can't sell it because he owes around $20,000 more than it is worth.

beemerphile1 wrote:
I'm curious, you are considering financing an RV at $350 per month for 15 years = $63,000 Since you don't have land to park it there will be storage on top of insurance for another $27,000

My question is, do you also finance (borrow) the money for your current non-RVing vacations?

I couldn't sleep at night if I had to borrow that money and pay those amounts in order to own a depreciating asset.

Maybe a less expensive RV would be in order. Even renting an RV might be an option.

Hopefully you realize that no one can tell you what you will spend on RVing. I had no idea what the cost was when we started and I had been a tent camper for many years. To be honest, I still don't know what the cost is because I don't track the expenses.

yup, vacations go on credit card, credit card paid in full every month, and points earned get rolled into future vacation.

Free stays, free flights, etc.

I'm curious, you are considering financing an RV at $350 per month for 15 years = $63,000 Since you don't have land to park it there will be storage on top of insurance for another $27,000

My question is, do you also finance (borrow) the money for your current non-RVing vacations?

I couldn't sleep at night if I had to borrow that money and pay those amounts in order to own a depreciating asset.

Maybe a less expensive RV would be in order. Even renting an RV might be an option.

Hopefully you realize that no one can tell you what you will spend on RVing. I had no idea what the cost was when we started and I had been a tent camper for many years. To be honest, I still don't know what the cost is because I don't track the expenses.

Muddydogs wrote:

mich800 wrote:

Muddydogs wrote:
Personally I think if you have to go through all this you probably shouldn't purchase an RV. Can you afford the monthly loan payment, insurance and storage fees? If so then everything else will work itself out. In the end are you putting a price on family fun and enjoying life because tomorrow you might not be around.

You don't need to purchase everything at once, a sewer hose, water hose and a few wood blocks will get you camping then other stuff can be acquired over time. Are you storing the unit under cover or purchasing a new unit? If so then you don't need to pay for a roof check twice a year for the first couple years and you can do the checking if you are able to get on the roof anyway.

That is crazy. Are you saying only the irresponsible use budgets? I was taught the opposite.

No, not sure how you pulled that out? Do you budget for home repairs? What happens if your washer dies tomorrow?

What I am saying is why budget for stuff 5 years down the road or more? If you can afford the initial costs and have enough money in your pocket to put gas in the truck to go camping without eating noodles all week then you are probably ok. A couple posts mentioned food costs, well you have to eat either way so why would that even be a consideration.

From your first sentence. I was just going by their subject line and the general question of typical costs. But I do agree with your last paragraph above about 5 years down the road but that was not the spirit of the question.

Muddydogs wrote:

mich800 wrote:

Muddydogs wrote:
Personally I think if you have to go through all this you probably shouldn't purchase an RV. Can you afford the monthly loan payment, insurance and storage fees? If so then everything else will work itself out. In the end are you putting a price on family fun and enjoying life because tomorrow you might not be around.

You don't need to purchase everything at once, a sewer hose, water hose and a few wood blocks will get you camping then other stuff can be acquired over time. Are you storing the unit under cover or purchasing a new unit? If so then you don't need to pay for a roof check twice a year for the first couple years and you can do the checking if you are able to get on the roof anyway.

That is crazy. Are you saying only the irresponsible use budgets? I was taught the opposite.

No, not sure how you pulled that out? Do you budget for home repairs? What happens if your washer dies tomorrow?

What I am saying is why budget for stuff 5 years down the road or more? If you can afford the initial costs and have enough money in your pocket to put gas in the truck to go camping without eating noodles all week then you are probably ok. A couple posts mentioned food costs, well you have to eat either way so why would that even be a consideration.

Not a good example about the washer. Your washer will not need routine things done like an RV will. And even for the costs of just tires for an RV in about 5 years or so, you can replace your washer/dryer set with a rela nice washer/dryer set. And yes, those that budget, generally set aside a budget or means or replacing things as they happen. Much different for replacing appliances that you almost is nearly a necessity (unless you have other means of washing clothes) and spending $20,000-100,000 on something that is not a necessity. Especially if you are spending every extra penny on the RV, storage and insurance. It leaves you with no operating costs. Now w ecan sit here and argue whether or not one should even consider doing it if it will stretch them out. But that's their personal choice. Many don't believe in financing. Many don't believe in paying to store it elsewhere. And many believe in budgeting and knowing where just about every cent is going. I've never heard a "financial guru" ever tell anyone not to do a budget...

jplante4 wrote:
Rather than budget, I prioritize. I have 3 lists; stuff that must be done, stuff that should be done and stuff that would be nice to do. If I ever have money left over after the "stuff that must be done" list is done, I'll let you know how this scheme works.

LOL...Using a budget, I just assume it's stuff in the categories of what must and what should be done. Didn't realize there was an option of what would be nice to be done...oh yeah I did, it's what the penny jar is for.

mich800 wrote:

Muddydogs wrote:
Personally I think if you have to go through all this you probably shouldn't purchase an RV. Can you afford the monthly loan payment, insurance and storage fees? If so then everything else will work itself out. In the end are you putting a price on family fun and enjoying life because tomorrow you might not be around.

You don't need to purchase everything at once, a sewer hose, water hose and a few wood blocks will get you camping then other stuff can be acquired over time. Are you storing the unit under cover or purchasing a new unit? If so then you don't need to pay for a roof check twice a year for the first couple years and you can do the checking if you are able to get on the roof anyway.

That is crazy. Are you saying only the irresponsible use budgets? I was taught the opposite.

No, not sure how you pulled that out? Do you budget for home repairs? What happens if your washer dies tomorrow?

What I am saying is why budget for stuff 5 years down the road or more? If you can afford the initial costs and have enough money in your pocket to put gas in the truck to go camping without eating noodles all week then you are probably ok. A couple posts mentioned food costs, well you have to eat either way so why would that even be a consideration.