Financial Advice Please!

[dairyou]

DH is a foreman in construction. A month before our vacation he asks his boss how work is since this would be the time to cancel and get a refund back on our cruise to Mexico. Boss said not bad enough to cancel vacation. DH's company did not get a 4 month job bid that was coming up and now it is too late to cancel since we are leaving on Sunday. We have airline tickets paid for, cruise is paid in full as well as excursions. Everything is paid for when we go to Disneyland for 2 days when we get back from the cruise.

We have 10,000 in mutual funds, 10,000 in a money market which is waiting to be put in another mutual fund and 22,000 in our savings account. We will be short about 800.00 a month on our bills if he didn't work at all and collected unemployment and my little salary. If he only worked 2 days per week we would not have to draw any money from our savings.

My question is this: Should we cut our losses on vacation and not accrue more spending which will probably be 2000.00. Or, should we go? I don't know if I could go on vacation and be worried about money the whole time. His boss said they have jobs, but some have bowed out and some are having a hard time getting a loan to start the job. I guess we could live 4 years without him working but I'm having a hard time going on vacation knowing he may not work. He is doubtful he'll go 4 years without working. If this is the case nothing will save us he says. He is going to ask his boss again tomorrow what is going on. If there are other jobs he can go to or will he be off for the month of December or even more.

If you did go how would you feel about spending money on sodas or arcades for the kids, playing bingo ect?

Your input would be soooo appreciated!

Deb

 

[Barb D]

How much have you already paid in for the vacation?

 

[lovesmurfs]

If you lose a lot more if you cancelled, that isn't fiscally sound either. What is the $2,000 in expected expenses for? Could you just budget, say, $500 and skimp on not doing fine dining or souvenirs?

It has to be your decision, but at this point if it were me, I would set aside my worries and have a nice trip (reducing your spending money as much as possible). Then again, I have a bit of a Scarlett O'Hara in my personality, so I'm sure you'll get better advice.

 

[Where'sPiglet?]

Okay.....if I'm reading this correctly, you have this trip totally paid for, and you have enough money in savings that you can stretch to four years of living expenses if need be?

Honestly, I think you should go and not worry about it. And a soda or a few games at the arcade is not going to break the bank. Go, have a good time, knowing that you have already paid for the trip and you have an emergency fund in savings.

 

[Tink888]

I would go on vacation and enjoy yourselves.

It sounds like you've got a nice cushion in case something happens with his job. None of us knows what the future holds. The future of the economy looks bleak and depressing as it is so savor your trip now and save the worrying for later if your circumstances change.

 

[clh2]

Go on your vacation...watch your spending...(really - they do not FORCE you to buy those funny looking drinks with the umbrellas in them ) and have fun.

 

[LanaJayne]

Since the trip is paid for and past the point of getting money back if you cancel, I would go and enjoy the family time.

There is so much to do on the cruise that is free...(already paid for)...go and enjoy. This opportunity may not come up again where you can get away.

Don't go crazy spending, just enjoy the ship and each other. We didn't do sodas or arcardes and kept the spending down.

There was free lemonade (and other drinks) on deck 9 and free sodas with meals. We felt that the arcarde could be skipped as there was lots for the kids to do without it. Hopefully they won't even notice that it is there. The movies, pool, ping pong, kids activiites are all included. The kids also enjoyed the scavenger hunts and video games in the clubs.

Have a wonderful time, things will work out when you get back!

 

[golfgal]

Keep in mind that a minimum wage job will bring in $800/month so if worst comes to worst, he could work at McDonald's to make up that shortfall. Your vacation is paid for, you will lose more money NOT going on the trip. I agree with the others, just cut back on your spending on the trip--especially since everything is paid for--and enjoy.

 

[mickeysgal]

You're past the point of getting a refund on the cruise, so I'd go. However, knowing how I am, I'd scale way back on the additional expenses. No need for special dining - use the regular dining facilities on the cruise, limit the excursions (if they haven't already been booked and paid), limit the souvenirs (who needs yet another t-shirt), no need for arcades, let the kids play in the pool, play in the kid's area, etc. You still will need money for tips on the cruise. It is possible to enjoy the cruise without a lot of extra bells and whistles. Enjoy the vacation. Given your situation, it may be awhile before you can vacation again. Good luck.

 

[dvcgirl]

If the trip is paid in full and you have just 2,000 left to spend....I'd go.

That takes your "savings" which I'm assuming is your emergency fund down to 20,000. I'm not sure what the CD and the other 10K in mutual funds are for....is that retirement savings?

Anyway, an $800 a month shortfall can be easily made up.....with a little part-time job.

I'd go, enjoy myself knowing that this will likely be the last vacation for awhile.

 

[Lynn CC]

Since everything is paid for I'd go and just budget what I do while there.
Try to get to a grocery store for snacks and drinks to bring back to your room that are not covered on the cruise, limit unneeded purchases while there. You and the kids can still have a great time without all the little extras.
We've done plenty of budget trips and had a great time without coming home and feeling bad about having spent too much money.

Enjoy!

 

[tw1nsmom]

If you can't get your money back, I would go. I would try to lower the amount of additional spending.

Could your DH plan on doing side jobs to make ends meet if work dries up? I know we're always having a hard time finding reliable people to do projects around our house. I know that probably isn't what he does on a daily basis, but if it brings money in during the lean times it can help.

 

[dairyou]

The cruise was 3000.00, hotel 300.00, disney tickets 450.00 and airline tickets 600.00. Excursions are prebooked and paid. Everything is paid.

We don't spend too much on luxuries but tips alone are almost 700.00. Then there's the taxi ride and breakfast, lunch and dinners at Disneyland for a couple days.

DH wants to go but I'm worried. It's just in my nature I guess. You're all right, I guess I just needed to hear it but not from DH...lol

Thanks!

Deb

 

[dairyou]

If you can't get your money back, I would go. I would try to lower the amount of additional spending.

Could your DH plan on doing side jobs to make ends meet if work dries up? I know we're always having a hard time finding reliable people to do projects around our house. I know that probably isn't what he does on a daily basis, but if it brings money in during the lean times it can help.

I'm not sure with the economy if anyone would want side jobs done or not. Of course he will look. It's scary times now, but we've done everything we can to prepare for it. I just wish we would have know 3 weeks ago when we asked his boss the first time. Then we could have cancelled..but he didn't know so it's just part of life.

We'll go and everyone will have fun and I will try not to worry

 

[tw1nsmom]

I'm not sure with the economy if anyone would want side jobs done or not. Of course he will look. It's scary times now, but we've done everything we can to prepare for it. I just wish we would have know 3 weeks ago when we asked his boss the first time. Then we could have cancelled..but he didn't know so it's just part of life.

We'll go and everyone will have fun and I will try not to worry

You might be surprised. I think you'll find more people investing in improving their house instead of trying to sell right now. It is incredibly hard as a home owner to find reliable help to work on smaller projects. We just had two small decks built. It should have been a four day job. Instead, it took two months because the guy we hired would only show up when he felt like it for a few hours at a time.

We don't have the money to hire an architect and a high end contractor. We do have the money to pay someone to do some simpler jobs that DH can't do due to a bad back.

This winter/spring we'll need to have someone do some masonry work on our basement walls and someone to help pour a sidewalk. There are things you have to do as a homeowner that need to be done regardless of the economy. Hopefully your DH can make some money filling that niche.

 

[dairyou]

You might be surprised. I think you'll find more people investing in improving their house instead of trying to sell right now. It is incredibly hard as a home owner to find reliable help to work on smaller projects. We just had two small decks built. It should have been a four day job. Instead, it took two months because the guy we hired would only show up when he felt like it for a few hours at a time.

We don't have the money to hire an architect and a high end contractor. We do have the money to pay someone to do some simpler jobs that DH can't do due to a bad back.

This winter/spring we'll need to have someone do some masonry work on our basement walls and someone to help pour a sidewalk. There are things you have to do as a homeowner that need to be done regardless of the economy. Hopefully your DH can make some money filling that niche.

Thanks for your encouraging words. I'll let him know because he feels he has let his family down since he is the main provider. I try to let him know it's just the way it is and it's not his fault at all. I'm sure what you say will make him feel much better!

 

[marlasmom]

I simply cannot see $2,000 in spending $. Tips are about $12 per person per day so for a 7 day cruise for 4 people that would amount to about $$350. You will want to tip for excursions but $20 is plenty. Times 5 days that is about $100. Meals at Disney you can budget $50 per day per person x 2 days = $200. TOtal not including cab fare $800. Say $1,000 to be on the safe side - without stinting. You absolutely do not need arcades or souveneirs.

Hope this helps.

 

[JoiseyMom]

We were in the same boat in August..but we went anyway. Yes, I worried a bit..but I stopped and enjoyed our vacation. Go have fun, and go easy on some of the extra spending. Let yourself and your family enjoy the trip!!

 

[C.Ann]

Since so much of the trip is paid for and not refundable, I would say - go..

When you come back, you can see what your situation is then and take whatever actions are necessary..

 

[MrsPete]

DH is a foreman in construction. A month before our vacation he asks his boss how work is since this would be the time to cancel and get a refund back on our cruise to Mexico. Boss said not bad enough to cancel vacation. DH's company did not get a 4 month job bid that was coming up and now it is too late to cancel since we are leaving on Sunday. We have airline tickets paid for, cruise is paid in full as well as excursions. Everything is paid for when we go to Disneyland for 2 days when we get back from the cruise.

We have 10,000 in mutual funds, 10,000 in a money market which is waiting to be put in another mutual fund and 22,000 in our savings account. We will be short about 800.00 a month on our bills if he didn't work at all and collected unemployment and my little salary. If he only worked 2 days per week we would not have to draw any money from our savings.

My question is this: Should we cut our losses on vacation and not accrue more spending which will probably be 2000.00. Or, should we go? I don't know if I could go on vacation and be worried about money the whole time. His boss said they have jobs, but some have bowed out and some are having a hard time getting a loan to start the job. I guess we could live 4 years without him working but I'm having a hard time going on vacation knowing he may not work. He is doubtful he'll go 4 years without working. If this is the case nothing will save us he says. He is going to ask his boss again tomorrow what is going on. If there are other jobs he can go to or will he be off for the month of December or even more.

If you did go how would you feel about spending money on sodas or arcades for the kids, playing bingo ect?

Your input would be soooo appreciated!

Deb

Let me be sure I understand correctly: You've already paid the money for the cruise, and it's too late to cancel. Regardless of whether you go or not, that money is gone. If you go, you will have to spend some money: souveniers, probably a few meals, taxi rides, etc.
If you stay, you will save that last-minute extras money.

I'm usually the first one to say, "If your job's insecure, don't go", BUT under these circumstances, since you would lose your vacation money entirely, I say GO.

HOWEVER, I would make a conscious effort to spend very little during the vacation. We never buy souveniers anyway, and the kids don't complain. Limit their sodas (and your alcoholic drinks), skip the for-a-fee restaurants on the cruise. Could you cancel the excursions and just hit a beach on your island stops? Eat all your meals onboard the ship. Skimp on meals at Disney.