Budgeters, I need your advice on this trip..

[hffmnheidi]

This is an example of why I like Suze Orman better than Dave Ramsey. She says people first, then money, then things. It's very true. So, go have fun on your budget trip.

I am a Suze fan as well. People first-you never know when a medical illness could spring up for anyone in your family. Don't have regrets, life is too short.

Take the trip, smile for all the pictures, keep the memories in your heart, and ENJOY yourself.

 

[VAN]

The debt of $50k includes your house?

I'd say given your efforts over the past few years, your current employment status, ages of kids and parents .... yes, I'd say this trip together will be "priceless."

My "Yes" vote is taking into account that you plan to do the trip as frugally as possible.

I know many on the boards feel that you cannot enjoy yourself if you don't just blow it all, but I will say I don't enjoy my visits now (with more money) any more than I did when we were watching every penny (making lunch/dinner at campsite).

Congratulations on what you've accomplished so far. Enjoy the family ... you deserve it!!!

 

[AndreaDM]

Go! I totally understand with having older children. We have 3 DDs, 21, 18 and 7. We spent too much on a family trip to Puerto Rico last year, but I don't regret one penny as it will probably be the last vacation as a family, just the 5 of us. We are leaving for WDW on Sat. with just DD7, and are planning a beach trip for July. DD21 would rather hang out with her bf than go with us, and DD18 isn't sure she wants to go now either (unless she can find a friend to go too). That was an unforgetable trip and I love looking at the pics of all my daughters on the beach together.

 

[Popfan]

You paid off $250,000 in debt in 4 years, you obviously know what you are doing! Go to Disney!!!!!

 

[DreadpiratK]

You paid off $250,000 in debt in 4 years, you obviously know what you are doing! Go to Disney!!!!!

Thanks, but it's not as impressive as it sounds, I've been blessed with a DW who is a relentless and talented negotiator, so a good chunk of that was negotiated away. But, gone is gone, we don't owe it, and we didn't default on anything. If there's a silver lining to the current economic situation, it's that banks are wiling to make some surprising deals. Plus, my mortgage in NY is less than our car payments used to be in CT, so that helps a lot.

Thank you all for the encouragement, you're telling me what I already know, but it helps sometimes to get confirmation from others. I wanted to make sure I wasn't justifying a bad decision.

There's nothing like realizing that your kids are getting ready to leave the nest to make you take stock, and re-order your priorities somewhat. Getting out of debt will be awesome when it happens, but it can wait a little bit. My kids won't stop growing up, no matter how much I want them too!

 

[Never never been]

I live in Dave's back yard (well, almost) and I know he also says you should have "blow money" in your budget. You can agree to up the amount based on what you and your wife think is fair-so long as you both agree.

 

[edk35]

Tomorrow is never promised. I say go. We just found out that my husband's mother has ovarian cancer..... life is too precious to not spend time with your family. It is not like you go every year.

 

[disneysmiles]

I'm the oldest of 5 kids in my family. My parents took all of us to disney before I went out to college.

It. was. Awesome!

Disney with family makes some amazing memories. Like the time my brother and I sat behind the lady who spoke no English. screamed her brains out on Dinasour after they guy said the dinasour didn't eat meat. And how it is family tradition to scream everytime we get to that point on the ride.

I'm JUST graduated from dental school. My DH had never been and we have a ton of student loans. I listen to Dave Ramsey, and we have be super careful with our money. We have a plan to pay off my student loans. We can do it in 5 years or so. But I have 200k. I can't imagine never doing anything fun for 5 years in leiu of rice and beans. We will have kids by then and time alone as a couple will be gone. I felt guilty about the trip for about 2 days during planning, and then I realized, I will make good money, we have a budget, every dollar has a name, we set aside money just for this trip! By golly I graduated from school!

4 years of working hard to pay off debt, look at it as celebrating a milestone with your family.

On our blogspot trip overview we exlained what we spent on food and how we did it for pretty cheap.

Good luck! Enjoy your trip!

 

[mtomlin66]

It's getting close to the time when we need to pull the trigger on our September trip to Disney, and I'm trying to decide what to do. I know some of you may be in similar situations, so I'd like you're opinions.

Background: We have 5 kids, DS 20, DD18, DS 16 DD 5 and DD 4.

4 years ago my business went under, and everything fell apart. We were 300K in debt with no income. Fast forward to now, I have a good job, and am only 50K in debt including my house. The only reason I mention this is because our goal is to be debt free, a la Dave Ramsey, and after going through all of that, we are uber careful with money now. This is why we should not go to Disney this year.

BUT this year my oldest DD graduated high school, and will be going to college. (online for the first semester) So it's probably her last year going on the family vacation My oldest DS already left for college last year, so I'm kind of sensitive about this. Plus it's been a life long goal for me to take my parents to Disney- the last time they were there we used E tickets to ride SM! They sacrificed to take us as kids, and I want to take them back while they can still enjoy it. They are by the grace of God healthy and active, but not getting any younger. My dad went through Prostate cancer this year (he's totally fine now, but scared the heck out of us) and who knows how many more years they will be able to go with us?

I know what Dave Ramsey would say "get out of debt first", rice and beans and all that, and he'd be absolutely right. But there are other factors to consider, and we've been on rice and beans for a long time now. We haven't been to Disney in 5 years, and if we wait till we are completely debt free to go back, most likely none of my older kids will be able to go with us, and possibly not my parents either.

We're not going crazy here, we're doing the homeschool days, so cheap tickets and staying off site and so on. The trip is 100% cash, no new debt (I'll NEVER do that again!) It will not impact our budget or our emergency fund in any way, we have the money to go, but it will set back our debt free goal by about 3-4 months, possibly more.

I know I'm stacking the deck here by asking a bunch of Disney fans, but I'd like input before making a final decision.

What would you do?

Without reading any other replies past your initial post I am going to say GO FOR IT. I lost my dad this year and would have given anything to have been able to do one final Disney trip with our entire family. The only solace I have is that we did have one family trip back in 2001, even though my kids were too young to remember being there with my dad, there are lots of pictures and videos that they have been able to watch from the trip.

If your only debt is 50K, including your mortgage and this is not impacting your budget or emergency fund, I don't see why there would be a problem. Enjoy and please post afterward to let us know about your trip!

 

[mom3sonstt]

Maybe I am not a good person to ask - I have never heard of Dave Ramsay and don't know what he says. But if you have been budgeting and reducing debt (and doing an amazing job at it - obviously!) then you are evidently in the routine of doing that. I don't think taking a break and rewarding yourself, your kids, and your parents at a time when everyone is still available and able to go, will put you back in the hole. You said you wouldn't incur more debt by doing this, only postponing the elimination of some of your current debt. You aren't so new at this "saving game" that taking a break will totally de-rail your efforts. Go have a good time, make memories, then start saving and reducing again when you get back. In no time you will be wanting to take your grankids on a trip!

 

[3girlsfun]

We went through something like this when we booked our upcoming cruise and our Disney trip. But, we decided that somethings are more important than paying off debt. That is our family.

We are looking forward to both, and we will be paying cash for both, no CC's here!

Enjoy!