sound hull and mind
Given that 60% of the drownings are men and 70% of those are found with their fly open I'd opt for using the head instead of going over the side and needing a PFD. I note that the majority of nautical history does not include even the mention of PFDs. There purpose, IMHO, is to allow folks that have not clew one to get out on the water and not kill themselves.PFDs are important in a lot of situations (duck hunting in small boats, dingys, etc) but since I have a head and use it I feel that the odds are against my falling overboard and needing a PFD. There have been numerous cases of folks abandoning ship to the life raft and then getting killed while their boat is found 3 months later and thousands of miles away still afloat.I will always believe that the gray matter between my ears is my best safety device and given a sound hull you can manage till the situation changes and you can reach safety.Do I wear a PFD? Sure when the situation requires it. Do I tether in? Sure when the situation requires it. Do I use a preventer? Sure, almost every time I sail down wind. Do I call for help on the VHF/SSB? Haven't had to yet but don't have a problem with it conceptually.My point is that I use my head and stay out of those situations/habits that can result in my needing all that safety gear. Safety gear is an insurance policy that the safe (thinking) boater caries but never needs.To answer the question, I'd spend my money on books or classes and making sure my hull and rig are sound.