Do you vacation when you have bills?

[allison443]

I was wondering that myself, especially after she posted that people who pay $5000 for a $2000 sofa "don't get it".

If paying $5000 in interest nets you a $500 decrease in your tax liability, you just spent $5000 for something only worth $500. THAT'S what I don't get!

I also don't understand her point about the deduction of mortgage interest being beneficial to her family, so it's ok to have that debt....that's a very poorly thought-out justification.

 

[crisi]

I also don't understand her point about the deduction of mortgage interest being beneficial to her family, so it's ok to have that debt....that's a very poorly thought-out justification.

It depends.

I was mortgage free for several years. We took out a mortgage to buy another home (for my brother in law). We could have paid cash for the home, but I could get the mortgage for 4% - plus the interest deducted which takes the after tax rate to 2.6%, my investments are in dividend stocks that I bought when the market crashed in 2009 and are paying between 6.5 and 9% in dividends (ignoring gain) - I'd be foolish to pay down that mortgage.

 

[crisi]

BTW, likewise, I'd rather carry credit card debt for a month than sell a stock I bought and am getting a good dividend return on, pay taxes, and then rebuy the stock at a higher price. Which is why sometimes we carry credit card debt. But our situation is atypical.

 

[talulabelle]

Why do you (collective "you" to all who are having this issue) have such a problem with someone describing her version of right and wrong using the term "moral?" It is simply her opinion.

Thank you! I was wondering the same thing. I said each time "to me" "for me" whatever. This is how I live my life and handle my finances and "for me" i would feel very very wrong to spend on things I didn't need with credit card debt. I thought I was being very clear that I meant credit card debt (and debt owed to individuals who have done services such as doctors, lawyers and the like) I don't have a car payment, I pay cash for them, but cars are a necessity and not a luxury like a vacation (as long as they are buying within their means). If I had one, I would probably still vacation. Anyway, I was answering the OP who asked "DO you?" and I answered "NO _ I would feel that was very wrong for me" I never said "Every who does this is wrong and a bad person" I said "I can't imagine doingthat myself or havingto be that self-indulgent" Everyone can just relax, because I really don't care what any of you do with your money even if it costs you in the long run. i am not going to sit here and judge you. I was judging me.

 

[talulabelle]

It depends.

I was mortgage free for several years. We took out a mortgage to buy another home (for my brother in law). We could have paid cash for the home, but I could get the mortgage for 4% - plus the interest deducted which takes the after tax rate to 2.6%, my investments are in dividend stocks that I bought when the market crashed in 2009 and are paying between 6.5 and 9% in dividends (ignoring gain) - I'd be foolish to pay down that mortgage.

Thank you too - I have a similar situation.

 

[jodifla]

Thank you! I was wondering the same thing. I said each time "to me" "for me" whatever. This is how I live my life and handle my finances and "for me" i would feel very very wrong to spend on things I didn't need with credit card debt. I thought I was being very clear that I meant credit card debt (and debt owed to individuals who have done services such as doctors, lawyers and the like) I don't have a car payment, I pay cash for them, but cars are a necessity and not a luxury like a vacation (as long as they are buying within their means). If I had one, I would probably still vacation. Anyway, I was answering the OP who asked "DO you?" and I answered "NO _ I would feel that was very wrong for me" I never said "Every who does this is wrong and a bad person" I said "I can't imagine doingthat myself or havingto be that self-indulgent" Everyone can just relax, because I really don't care what any of you do with your money even if it costs you in the long run. i am not going to sit here and judge you. I was judging me.

But you said it was a sin, didn't you? And that's pretty judgmental.

 

[Gr8t Fan]

But you said it was a sin, didn't you? And that's pretty judgmental.

Amen!!!

 

[jodifla]

Update post #15

We want to go back to Disney in 2011, we have credit card bills and medical bills. We've vacationed before when we have bills but this time I'm having a hard time justifying the trip because I feel bad for DH being the only one working and how hard it must be to see bills come in and not being paid off. He does a good job at paying them down and I help out by watching the shopping. We always use our income tax refund to pay for Disney but that money could be used to pay down the bills. The reason we might take the trip is the kids will be little only once, we're all healthy right now so why not take the trip and enjoy it while you can?

To me, this is the key.

You need to get a job. Why should your husband shoulder all the bills?

 

[Michelle and crew]

Of course you can die any day. That is the point. You should enjoy your life while you have it to live. You have to take care of responsiblities, no one is saying you shouldn't; but you have to have a balance.

My point is that one should enjoy every day. Not think that they need an expensive vacation to do so.

 

[talulabelle]

But you said it was a sin, didn't you? And that's pretty judgmental.

oh, goodness gracious - if you want to get down and pick about each post, I said "To me it is just immoral to continue to use money like it is yours when you really owe it to another, and it doesn't matter if it is a bank or a person. It is just wrong. " I started with "to me" and I meant "for me" by this. When I said "like it is yours" I would have been clearer to say " Like it is mine" but I was speaking in general terms.

I don't judge any of you. I feel it is wrong therefore I don't do it. I can only control my own finances. If you think it is smart, and financially wise, or necessary in order to have your relaxation time - you go right ahead. I would disagree with you - but I won't judge you. I don't do it, because I feel it is wrong. And that is what I was saying in my original post.

 

[talulabelle]

To me, this is the key.

You need to get a job. Why should your husband shoulder all the bills?

talk about being judgemental.

how do you pretend to know thier situation?

 

[punkin]

To me, this is the key.

You need to get a job. Why should your husband shoulder all the bills?

Seriously?

Do you have any idea about OP's financial and family situation? How do you make such a comment?

 

[jodifla]

Seriously?

Do you have any idea about OP's financial and family situation? How do you make such a comment?

I can only of course base my observations on what she said. They have bills, she thinks her husband feels pressured because he is the only one working.

So a way to alleviate that pressure is for her to get a job. If the situation were flipped, and it was a man posting the original post, I can guarantee people would be suggesting he get a job to help out!

 

[talulabelle]

I am still here.....like alot of people on this thread have stated, it is a personal choice whether to take an expensive vacation when you have alot of debt. For us, we don't want to do it, it's too much stress knowing we have credit card debt. We will be telling our children we are waiting to take the trip because bills have to be paid. I like the example someone gave that children should learn that if you don't have money for a candy bar then you have to wait til you get your allowance. I have been guilty of "loaning" the kids money for something. I like that it teaches them not to borrow money at such a young age. We will, however, take day trips because we need that time away from our sometimes hectic life.

Good for you - (the candy bar - or actually I think I said "gum") example was mine. I have lived by this principle my whole life since childhood. That if you don't have the money, you simply need to do without. (Again with exceptions of things that are necessary like housing, cars and food - as long as they are modest and can be paid off with out too much strain in the future) It is because of this that I am debt free and secure.

Someone said earlier that I must be well off. Well, everyone has their own definition of that - but yes, I feel very well off. I have no monetary stress, I have all the things I need. I have a great family and friends. I am as well off as I could hope to be. Now, if you were to meet me in person, you may not think I'm well off. My house looks very modest, and the furniture is still mostly hand-me-downs from before I was married. We try to take a week of vacation every year - but it doesn't always happen. i have only been able to afford 2 Disney trips in the 16 years I've been married - and they were definitely NOT the super deluxe ones I read about people taking here. My car is 10 year old and looks worn on the inside, but it runs beautifully. I doubt many people who know me think I'm well off, as my clothes are usually from Target or similar. But I don't define myself with material things. So I feel I am well off.

 

[talulabelle]

I can only of course base my observations on what she said. They have bills, she thinks her husband feels pressured because he is the only one working.

So a way to alleviate that pressure is for her to get a job. If the situation were flipped, and it was a man posting the original post, I can guarantee people would be suggesting he get a job to help out!

What if daycare for children cost as much or more than she is able to make?

 

[punkin]

I can only of course base my observations on what she said. They have bills, she thinks her husband feels pressured because he is the only one working.

So a way to alleviate that pressure is for her to get a job. If the situation were flipped, and it was a man posting the original post, I can guarantee people would be suggesting he get a job to help out!

No. This is not a male/female thing. I would say the same thing about a stay at home dad.

We know nothing about the OP. She feels bad for her husband but there may be valid reasons she stays home which make economic sense or she may be lazy and sitting on the couch watching TV and eating bon-bons. The point is we do not know. Telling her to get a job just so she can go to Disney without having any insight into her life or her finances is preposterous.

 

[tlbwriter]

oh, goodness gracious - if you want to get down and pick about each post, I said "To me it is just immoral to continue to use money like it is yours when you really owe it to another, and it doesn't matter if it is a bank or a person. It is just wrong. "

But see, this is why I'm confused. I'm not saying your way of thinking is wrong, I'm saying it's contradictory, and I don't get it. If it's immoral to continue to use money like it's yours when you really owe it to a bank, why is your mortgage not immoral? You said you had enough money to pay it off. You choose not to do so because that money is invested instead. So you are using the money that you could use to pay off your debt, for your own purpose. Like it's yours. I'm not saying that's wrong - in fact, it's pretty smart, if the income is more than the interest. But it flies in the face of your statement above.

 

[talulabelle]

But see, this is why I'm confused. I'm not saying your way of thinking is wrong, I'm saying it's contradictory, and I don't get it. If it's immoral to continue to use money like it's yours when you really owe it to a bank, why is your mortgage not immoral? You said you had enough money to pay it off. You choose not to do so because that money is invested instead. So you are using the money that you could use to pay off your debt, for your own purpose. Like it's yours. I'm not saying that's wrong - in fact, it's pretty smart, if the income is more than the interest. But it flies in the face of your statement above.

From my post #124:

" I thought I was being very clear that I meant credit card debt (and debt owed to individuals who have done services such as doctors, lawyers and the like) I don't have a car payment, I pay cash for them, but cars are a necessity and not a luxury like a vacation (as long as they are buying within their means). If I had one, I would probably still vacation. Anyway, I was answering the OP who asked "DO you?" and I answered "NO _ I would feel that was very wrong for me"

FYI - when I began posting on this thread I was responding to the OP who said she had "credit card and medical bills" these are different debts than mortgage and car payments. Someone else brought these last two up and lumped it in with my statements later.

 

[jodifla]

What if daycare for children cost as much or more than she is able to make?

Then there are options. Work nights and weekends -- I do. Or perhaps take up babysitting.

It's practical advice and would move her forward. Hardly "preposterous" as was suggested.

 

[talulabelle]

Then there are options. Work nights and weekends -- I do. Or perhaps take up babysitting.

It's practical advice and would move her forward. Hardly "preposterous" as was suggested.

OR - she could stay home, raise her children herself and not go on expensive vacations. Thank God this is America and that is her choice to make.