One is fixing stuff, the other is for new stuff.

For the first list, if it is not mission critical, I may not fix it right away. After a while I may find I didn't really need it, so I just take the broken thing away and cross it off the list.

For the second list, I've found that chartering boats with all the bells and whistles (which then don't work or are too difficult to use) encourages me to keep my boat simple and therefore keep the second list short.

For the mission critical stuff, ya just gotta do it. I just had all my standing rigging and lifelines replaced last month. Now those items are off the list, and lots of numbers are missing from my checkbook too!