The last big dip I recall was around 85/86. I started offshore in 85 as a diver…. didn’t look back!
One thing I have always done is made sure there is enough money around (buffer/rainy day fund – call it what you wish) for what could be a quiet period and also any winter/low season It’s never been good practice to burn your cash over the winter/low season and EXPECT work to be there when you need it most!
If you are one of those that has been in the industry a few (recent) years working away, expecting work all year around every year, keeping up with the Jones’s, hocked up to the eyeballs with mortgage, car loan etc then you’ll likely crash and burn next year if you are not useful to the system.
I’ve lost count of the number of UK based boats I’ve been on where people were talking about buying the latest whiz bang super motor as they can ‘afford it’ (seemingly). A few might regret that ill conceived decision in the coming year!
Just re-read what I wrote and this has turned into a bit of a doom and gloom post, but it really is a reality check!
If you are working on a tight budget then start offloading anything that will drag you under I say. Sell that super car and get something sensible or older. If the wife has to go then so be it 😉
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