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Old 08-29-2010, 03:44 PM   #16
eliza61

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For me it's not that cut and dry.
First, I'm use credit and use it wisely. so I have no burning desire to be "Debt free". For example I had to replace my roof after the horrible winter we had on the East coast.
Now the roof cost 12K, I was not going to deplete my savings by 12K when I could easily afford the 12 month free financing. So we paid cash for 6K of it and financed the rest.

Same thing with a new car. Typically we spend around 25K for our automobiles. Would I pay cash for one nope, I fully comfortable with putting down a nice down payment and 0.9% financing.

Vacations we generally save for but my 25 anniversary is coming up in 2012 and we plan on touring Europe for 25 days. This will also be the same time I'll have 2 kids in college so next year we'll start seeing how we can juggle all these things.
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Old 08-29-2010, 03:49 PM   #17
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Afford it means that you have the "cash" to either by via cash, or charge it & pay off the charge bill in full when it comes.. that is afford to me.. if I have to take from a savings, unless a special vacation savings, then you cannot afford it..
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Old 08-29-2010, 04:08 PM   #18
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Afford it means the money for the item/vacation/whatever is sitting in my bank account before I buy it. The only exception is a house and then it's a matter of looking at my husband's income and making sure no house will make us "house poor".
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Old 08-29-2010, 04:13 PM   #19
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I keep Suze Orman and Dave Ramsey on speed dial before I make ANY purchase! /sarcasm
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Old 08-29-2010, 04:39 PM   #20
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Affording a vacation for us means having the money by the time we leave so that it is paid off. We tend to plan vacations close to a year in advance so that we can budget for it and put money away each paycheck so that we can pay it off before we go.

Now, I'm not going to lie and say that we have absolutely no debt. We do have a mortgage, and we are about to add on a car payment (we buy new because we run them into the ground, buying used for our family doesn't make sense. We keep our cars for 10-15 years.) Affording a house and a car to us means that we can easily pay the payments each month and be able to have a few months payments set aside for "just in case".

As for credit cards, we use them daily. Every once in a while we will have a SMALL balance carry over, but for the most part we tend to pay them off every month. If we do have a SMALL balance carry over we plan ahead and know exactly how and when that balance will get paid off (usually the next week). By small I'm talking under $100.
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Old 08-29-2010, 04:43 PM   #21
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'Afford it' to us means that we wouldn't miss the money if we had to spend it on something else. It's not money we should be spending on other things, also. We just budget for our Disney trips, and pay cash for them. That said, we don't have a Mc Mansion or luxury cars, but they're not really priorities to us.
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Old 08-29-2010, 04:43 PM   #22
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Didn't you know here at the Dis, EVERYONE pays their cc off monthly. NOONE carries a balance, lol.

Afford to me means we bring in more than we spend each month. I do not insist on having cash for a vacation that may cost $5K or more. If it takes me several months or even a year to pay it off, so what? We have stable jobs, plenty of savings for retirement, an emergency savings acct of 3 months' income. How I choose to pay for my vacations doesn't impact anybody but me (my family) so why does it matter?

The DIS is the only board where everyone has lots of cash laying around for a trip to WDW whenever they want or they have recieved several trips for "free"
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Old 08-29-2010, 04:51 PM   #23
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Seriously? It all depends on the item to how we define 'afford it'.

We don't have a single formula that decides whether or not something is 'affordable' at that very moment. Some are easy, simply check the bank account verses bills still pending due. LOL Others require more research into options and payments, such as student loans.
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Old 08-29-2010, 04:54 PM   #24
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'Afford it' to us means that we wouldn't miss the money if we had to spend it on something else. It's not money we should be spending on other things, also. We just budget for our Disney trips, and pay cash for them. That said, we don't have a Mc Mansion or luxury cars, but they're not really priorities to us.
Totally OT from your post but I see your siggy says only 2 more days until your son arrives. So I wanted to say CONGRATS!!! and I hope everything goes smoothly.
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Old 08-29-2010, 04:59 PM   #25
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For vacations, it means we pay in right out (cash/debit). We do not under any circustance use credit cards on a vacation. We save credit card use for more important things such as medical bills, new car (result of a car accident), emergencies, etc. We used to put vacations on our credit cards but not anymore.

And, no. We dont have this money "lying" around as some people have implied here. We just save and wait until when can afford it. It's been 3 years since we have taken a vacation . Since our last vacation, we have moved across the country and paid about $50,000 in medical bills. We easily could have said we will put in on our credit cards but to US it is more responsible to wait to pay it out right because vacations are not a necessity. But JMO. Everybody pays for things the way they see fit and as long as they can pay off their bills, it doesnt matter to me.
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Old 08-29-2010, 05:04 PM   #26
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For vacations, it means we pay in right out (cash/debit). We do not under any circustance use credit cards on a vacation. We save credit card use for more important things such as medical bills, new car (result of a car accident), emergencies, etc. We used to put vacations on our credit cards but not anymore.

And, no. We dont have this money "lying" around as some people have implied here. We just save and wait until when can afford it. It's been 3 years since we have taken a vacation . Since our last vacation, we have moved across the country and paid about $50,000 in medical bills. We easily could have said we will put in on our credit cards but to US it is more responsible to wait to pay it out right because vacations are not a necessity. But JMO. Everybody pays for things the way they see fit and as long as they can pay off their bills, it doesnt matter to me.
You have not been on a vacation in 3 years but you have three listed in your signature (2008, 2009 and 2010). Aren't they vacations?
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Old 08-29-2010, 05:07 PM   #27
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Originally Posted by disfan07 View Post
For vacations, it means we pay in right out (cash/debit). We do not under any circustance use credit cards on a vacation. We save credit card use for more important things such as medical bills, new car (result of a car accident), emergencies, etc. We used to put vacations on our credit cards but not anymore.

And, no. We dont have this money "lying" around as some people have implied here. We just save and wait until when can afford it. It's been 3 years since we have taken a vacation . Since our last vacation, we have moved across the country and paid about $50,000 in medical bills. We easily could have said we will put in on our credit cards but to US it is more responsible to wait to pay it out right because vacations are not a necessity. But JMO. Everybody pays for things the way they see fit and as long as they can pay off their bills, it doesnt matter to me.
Just meant as a friendly, helpful tip, but check out car loans via the dealer or banks. Most of the time the interest rates on car loans are a lot lower than putting it on your CC. Might save you some money!!!
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Old 08-29-2010, 05:10 PM   #28
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You have not been on a vacation in 3 years but you have three listed in your signature (2008, 2009 and 2010). Aren't they vacations?
not necessary!!! Why try and cause problems????
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Old 08-29-2010, 05:15 PM   #29
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Afford to us is when we can pay off the trip as soon as the bill comes in; which is before the vacation. If this was not "excess" cash, we wouldnt or better couldnt go.
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Old 08-29-2010, 05:36 PM   #30
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to us, Afford it means we have the money to cover the full cost of the trip without taking from any category in the budget other than the vacation/fun category. and that is the last category that gets funded each month. I am like several of the pp on this thread... in daily life and even on vacations, I can "afford" much nicer than I typically do. However, I would rather see that vacation/fun Fund grow faster then have brand new, top of the line stuff the moment it hits the market.
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