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Old 01-08-2013, 10:22 AM   #16
Rogillio
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Originally Posted by jbshell View Post
we are completely debt free except for mortage and car payment. . but live on just hubbys income since I am a stay at home mom... I refuse to use credit since its takin us 9 years to become debt free.. my inlaws have a permanent camping site at a jellystone park so thats as far as thy get every year for a vacation our oldest is only 8.. and youngest is 7 months at least when we do cruise the baby will be 3





thanks everyone

starting our research for our first cruise ... I reasearch a ton this momma likes planning and budgeting


Part of the fun of DCL vacations (or any vacation really) is the planning and anticipation.

I don't know why people think "debt free" means they can still have a mortgage and car payment and call themselves debt free? Credit card debt is higher interest but you can get a home equity loan at like 2.9% interest and use it for anything you want to use it for. Debt is debt. Period. Get a home equity loan (second mortgage) and pay off all your credit cards, car loans, student loans and other loans....are you any less in debt? No. You still owe the same amount of debt.

But again, nothing wrong with debt! Just look at what the debt is costing you and decide if that cost is worth it. IOW, if you own you own home but owe a gazillion dollars on it, you are paying 2 gallion in interest....we we accept this because we want to own our own home. Same with a car. We can drive a clunker for 10 years till we can save enough o pay cash for the car or we can accept the fact that a 20k car will cost of 23k after we pay the interest but we can enjoy the car NOW and not wait for it.

It all comes down to priorities. Is it important for you to live in a 3000 sqft home in the best school district and the nicest neighborhood or would you be happy in a 2000 sqft home out in the county somewhere. I mention houseing because as I've said, that is the biggest money sink in people's lives. Some people spend their entire life a slave to their mortgage. They build a little equity in their home and they sell their house and buy a bigger/nice/more expensive house. We have lived in our modest house for 23 years...we could easily afford a bigger/nicer/more expensive house....but then we'd take less vacations, we'd eat out at restaurants less, we'd have fewer toys and gadgets and electronics, we have older cars, we'd go out to the movies less, etc.
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Old 01-08-2013, 10:39 AM   #17
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Originally Posted by Rogillio View Post
Part of the fun of DCL vacations (or any vacation really) is the planning and anticipation.

I don't know why people think "debt free" means they can still have a mortgage and car payment and call themselves debt free? Credit card debt is higher interest but you can get a home equity loan at like 2.9% interest and use it for anything you want to use it for. Debt is debt. Period. Get a home equity loan (second mortgage) and pay off all your credit cards, car loans, student loans and other loans....are you any less in debt? No. You still owe the same amount of debt.

But again, nothing wrong with debt! Just look at what the debt is costing you and decide if that cost is worth it. IOW, if you own you own home but owe a gazillion dollars on it, you are paying 2 gallion in interest....we we accept this because we want to own our own home. Same with a car. We can drive a clunker for 10 years till we can save enough o pay cash for the car or we can accept the fact that a 20k car will cost of 23k after we pay the interest but we can enjoy the car NOW and not wait for it.

It all comes down to priorities. Is it important for you to live in a 3000 sqft home in the best school district and the nicest neighborhood or would you be happy in a 2000 sqft home out in the county somewhere. I mention houseing because as I've said, that is the biggest money sink in people's lives. Some people spend their entire life a slave to their mortgage. They build a little equity in their home and they sell their house and buy a bigger/nice/more expensive house. We have lived in our modest house for 23 years...we could easily afford a bigger/nicer/more expensive house....but then we'd take less vacations, we'd eat out at restaurants less, we'd have fewer toys and gadgets and electronics, we have older cars, we'd go out to the movies less, etc.

Thanks for posting this. I agree & we also fall into that category. We have lived in our home 9 years (paid off a year ago). We could easily afford a house that is twice what we live in, but our 2000 sqft is just fine with us in a smaller less expensive community. If we chose to upgrade our housing, we would give up a lot of other stuff. There is nothing wrong with living in the more expensive houses if that is your priority. Everybody has to decide what works for them & we choose the freedom to take as many vacations as we have time for (usually 3 or 4 a year).
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Old 01-08-2013, 10:51 AM   #18
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We book usually a yr out, so it gives us time to pay it off and save for all extras. Our 1st cruise last yr we booked in Jan for Dec cruise. Paid it off around Sept. and saved the last 3 months for extras.

This cruise we booked Dec for Oct. I hope to have this paid off by April and then the rest is to save for everything else.
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Old 01-08-2013, 10:56 AM   #19
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I don't save. I am fortunate to have enough money always sitting in my account that I can just pay for a vacation, cruise or otherwise.

I am also very fortunate to have a fantastic paying job.

My only 'debt', which I don't consider debt, is my mortgage. Other than that, my money is mine.
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Old 01-08-2013, 11:06 AM   #20
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Originally Posted by MedicGoofy View Post
I don't save. I am fortunate to have enough money always sitting in my account that I can just pay for a vacation, cruise or otherwise.

I am also very fortunate to have a fantastic paying job.

My only 'debt', which I don't consider debt, is my mortgage. Other than that, my money is mine.

I know a lot of people who don't consider their mortgage as debt. I guess because for most people, it is unavoidable debt. But pay off your mortgage and have an extra $1000 to $2000 to spend every month and you will will realize it was indeed debt.
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Old 01-08-2013, 11:07 AM   #21
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I don't save. I am fortunate to have enough money always sitting in my account that I can just pay for a vacation, cruise or otherwise.

I am also very fortunate to have a fantastic paying job.

My only 'debt', which I don't consider debt, is my mortgage. Other than that, my money is mine.
Would you consider adopting us into your family! We wish we only had a mortgage- someday!

We use our tax return and DH bonus for our vacation every year. We also either book way in advance or this year we were hoping for either a kids sail free or GT rate and both came so we got a choice!
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Old 01-08-2013, 11:08 AM   #22
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We don't save for vacations. We live a certain lifestyle that allows for us to do what we want when we want to. We vacation at non peak times and take advantage of discounts. We cruise next Sunday after booking less than 3 months ago because of a great gurantee rate. We usually go to WDW in early Dec or early Jan because of less crowds and cost, and we utilize free dining always. We only have 1 child, no mortgage, and no car notes even though we have multiple vehicles. Even though some family members think so, we are not wealthy. We just spend our money differently than they do. Also, we don't have expensive vices (outside of Disney) like gambling, smoking, or alcohol.
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Old 01-08-2013, 11:12 AM   #23
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My husband has a wonderful job that allows us to use only his salary for our day to day expenses. I own my own business that pays for our vacations and other fun stuff. We generally know a year in advance of our vacation plans and use my $$ throughout the year to book flights, cruise etc.
We never ever take a vacation that isn't 100% payed off before we go! There is no way my husband would enjoy himself if he was mentally tallying up expenses every day!
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Old 01-08-2013, 01:55 PM   #24
jbshell
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My mortgage payment is less than my car payment lol.. We have a great interest rate due to hubby being a disabled vet.... We do not live beyond our means... But do not have disposable income... We are none other then average middle class citizens...
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Old 01-08-2013, 01:57 PM   #25
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Originally Posted by moomy-san
My husband has a wonderful job that allows us to use only his salary for our day to day expenses. I own my own business that pays for our vacations and other fun stuff. We generally know a year in advance of our vacation plans and use my $$ throughout the year to book flights, cruise etc.
We never ever take a vacation that isn't 100% payed off before we go! There is no way my husband would enjoy himself if he was mentally tallying up expenses every day!
That's awesome if I do side jobs like babysitting etc or selling something we add that money to our extras etc.. Like eating put small day trips etc..
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Old 01-08-2013, 02:05 PM   #26
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I know a lot of people who don't consider their mortgage as debt. I guess because for most people, it is unavoidable debt. But pay off your mortgage and have an extra $1000 to $2000 to spend every month and you will will realize it was indeed debt.
This goes a little off topic now, but I guess it often isn't considered resl debt because the alternative would be renting (or coming up with a few hundred thousand Euros all at once). I cover a basic need, living, with my mortgage, renting would be more expensive, so it's definitely better than going into debt just for buying stuff.

Back on topic: We decided early on about our priorities, bought a small house and only one car (but public transport is much nicer over here and widely used), my husband got a well paid job, so we are able to travel a lot, which, together with our daughter's education, is our top priority.
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Old 01-08-2013, 02:10 PM   #27
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we are wanting to take (and pay for) a family cruise in 2014. our children are adults with their own familys so we will be looking for three cabins. add that to the cost of air and we need to save a good bundle. i'm retired so its going to be budget budget budget for a long while. we are sailing this October so we will book the rooms then to get the obc's which will help pay tips at least. I don't want to charge it or cash in investments, wish me luck!
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Old 01-08-2013, 02:17 PM   #28
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we are wanting to take (and pay for) a family cruise in 2014. our children are adults with their own familys so we will be looking for three cabins. add that to the cost of air and we need to save a good bundle. i'm retired so its going to be budget budget budget for a long while. we are sailing this October so we will book the rooms then to get the obc's which will help pay tips at least. I don't want to charge it or cash in investments, wish me luck!
Good luck....
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Old 01-08-2013, 03:26 PM   #29
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We were able to pay in full after about 5 months of payments. Weekly, we'd buy 2 (sometimes more) Disney gift cards from Target, taking advantage of the 5% off by using Target debit card. For any birthdays or holidays, we asked for Disney gift cards. Last month, there was a Target coupon for $10 off $50 purchase. We used these coupons to buy remaining cards to pay off balance.
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Old 01-08-2013, 03:53 PM   #30
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I know a lot of people who don't consider their mortgage as debt. I guess because for most people, it is unavoidable debt. But pay off your mortgage and have an extra $1000 to $2000 to spend every month and you will will realize it was indeed debt.
I think the reason mortage debt is generally considered as being different (less bad) than other debt is because it is just about the only common type of debt tied to an appreciating asset. Plus, there is the mortgage interest deduction, but in my mind that just affects carrying cost, and is more a detail than a substantive difference. Credit card debt, car debt, etc is all tied to spending/wasting assets, whereas home debt represents an "investment", for whatever that's worth. Similarly, the only type of "favorable" debt, if you believe in any distinction, is student loan debt, because it's also an investment in that, at least in theory, it allows the borrower to increase earning power.

That's the party line from the finance world anyway -- although of course, not needing to borrow is always best!
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