Don't Ditch That Boat

The economy is going down the tubes, and you're having trouble making your boat payments. So what do you do? Drill a hole in its hull, let it sink, and then all your problems will be gone. Sounds crazy, right?

According to a recent New York Times article, doing just that is becoming increasingly popular. Many boat owners who can no longer afford the maritime lifestyle are also finding that they can't sell their craft, and that proper disposal is too expensive.

Abandoned boats wreak havoc on the environment, leaking toxic chemicals from used oil and batteries. They're also a navigational hazard to others who haven't decide to ditch their boats.

Vessel abandonment is illegal in most states, like California, where it can get you a $2,000 fine. So what's a former yachtsman to do with an unwanted boat? Donate it to charity (or here): It's free, easy, won't harm the environment, and it's even tax-deductible (PDF).

--Michael Fox