How Much Do You Have To Have Saved To Go On Vacation?

[dairyou]

I would like to go to Hawaii with DH without our teenage boys. This would be the first time going on vacation without them. Last week DH said we can go. Now his work is unsure (in construction) but I believe he will keep working here and there. He is the half empty glass kind of guy.

We have no debt and if he doesn't work we are short $500.00 per month. We have $50,000.00 saved and in mutual funds. The cost to Hawaii is only $2,000.00 with all the great deals.

Would you still go?

Deb

 

[PrincessSuzanne]

Sure would. In that situation, I would need the time to relax a bit and think about what to do for the future.

Would it be possible for him to make up the difference with unemployment?

Suzanne

 

[dairyou]

Sure would. In that situation, I would need the time to relax a bit and think about what to do for the future.

Would it be possible for him to make up the difference with unemployment?

Suzanne

We would need his unemployment for income, but I have applied for another position in the school district and we would only be short 200.00 per month. I have applied for alot of positions and I am qualified. Unfortunately with the school district it is who you know and not what you know. I think I will get one of the positions though.

Deb

 

[mickeyboat]

What kind of retirement funding do you have?

My Dh is also in construction, and my job is not as secure as it used to be. We have more than you have saved, and a fair amount of retirement savings, and we are not making any unnecessary expenditures right now. We would not be taking that kind of vacation, although we are taking our annual ($3k) family vacation.

Good luck with whatever you decide.

 

[raysnkaysmom]

I would like to go to Hawaii with DH without our teenage boys. This would be the first time going on vacation without them. Last week DH said we can go. Now his work is unsure (in construction) but I believe he will keep working here and there. He is the half empty glass kind of guy.

We have no debt and if he doesn't work we are short $500.00 per month. We have $50,000.00 saved and in mutual funds. The cost to Hawaii is only $2,000.00 with all the great deals.

Would you still go?

Deb

What kind of retirement funding do you have?

My Dh is also in construction, and my job is not as secure as it used to be. We have more than you have saved, and a fair amount of retirement savings, and we are not making any unnecessary expenditures right now. We would not be taking that kind of vacation, although we are taking our annual ($3k) family vacation.

Good luck with whatever you decide.

I'm confused... she shouldn't take the 2k vacation, but you can take the 3k? I think I missed something


To OP...if ya'll want to go..go

 

[mickeyboat]

I'm confused... she shouldn't take the 2k vacation, but you can take the 3k? I think I missed something


To OP...if ya'll want to go..go

Yeah, it's confusing. Our annual vacation is budgeted (mostly already paid for), and is for the entire family. I assume the Hawaii one is not budgeted, and it's only for the OP and her DH. My point is that we are not spending extra money unnecessarily.

 

[Aimeedyan]

I would go.

 

[mumom95]

That's a tough one.

Will you be able to enjoy yourself if you do go? For some people the stress of spending the money on a vacation can ruin it for them.

If you will still be able to enjoy yourself, then I think maybe you should go (but I also get the impression that you deep down don't think he'll lose his job). The deals for Hawaii are great right now. My dh and I have been planning on going in 2011 for our 15 year anniversary, but lately we've been wondering if we should plan on going in 2010 instead because if the economy hasn't fully rebounded, it still may be cheaper.

Good luck with your decision. It sounds like you are thinking this through and weighing your options, so I'm sure you'll make the right choice.

 

[ohiomom28]

I would go in a heartbeat!

 

[CaliforniaDreamin]

Does the 2k include airfare and hotel? Reason I am asking is we are planning a cruise, but I would MUCH rather go to Hawaii. I thought it was way out of our price range. But 2k is very good.

 

[dairyou]

Does the 2k include airfare and hotel? Reason I am asking is we are planning a cruise, but I would MUCH rather go to Hawaii. I thought it was way out of our price range. But 2k is very good.

That is airfare and condo. You have to realize that we are flying from California. So airfare in a month would be 400.00 each and then 500.00 (100.00 a night) at a 1 bedroom/studio condo. We're not extravagant vacationers so we would likely pack sandwiches and eat out occasionally.

Let me know what you decide I'd like to know.

Deb

 

[dairyou]

What kind of retirement funding do you have?

My Dh is also in construction, and my job is not as secure as it used to be. We have more than you have saved, and a fair amount of retirement savings, and we are not making any unnecessary expenditures right now. We would not be taking that kind of vacation, although we are taking our annual ($3k) family vacation.

Good luck with whatever you decide.

Yes, my husband is with the union and has retirement and pension ect. I just started working 3 years ago so I won't have a huge retirement. I want to make it to the 10 year mark so we will have paid medical when we retire.

We don't really budget vacations. If we want to go and we have plenty in our savings and his work is good we'll go. There are times where we have gone on 2 big vacations in one year. We're pretty frugal so we don't really budget.

Deb

 

[Dr.Girlfriend]

We had to save $299 a person for our DCL 3 day Wonder in September.

 

[MarkBarbieri]

Hard to say from the numbers you gave. My general financial philosophy is that a person should meet the following criteria:

1) Be on or above target with their retirement savings, factoring in pensions, social security, a realistic retirement date, and a realistic assessment of retirement spending needs.

2) Have an emergency savings pool that equals at least 6 months of expenses...more if they would expect to have trouble replacing their current income in a job loss.

3) Positive net cash flow (assuming that they aren't retired). Basically, you need to be spending less than you are earning.

4) No unsecured debts or debts that exceed the value of the secured assets.

Once you've met those basic criteria for financial stability, you should feel free to spend the excess however it pleases you. People that vacation on borrowed money are almost always living for today at the expense of their own future.

 

[EthansMom]

For us, saving for college and our retirement takes a priority over going on vacation (and other discretionary spending).

I'd also estimate another $1k minimum for travel expenses such as parking at the airport, car rental, food (even groceries are more expensive in Hawaii), souvenirs, etc...

Plus, another consideration for me would be that you live in CA which has a lot of great beaches right there! I wouldn't spend $1600 on flights to go somewhere for only 5 nights to hang out at the beach when I could drive my own car and have a less expensive vacation closer to home.

 

[Pakey]

I would not go. But then again, I'm an accountant and very conservative when it comes to my money, as is my husband. I could not go on vacation if I did not feel secure that my current income was going to remain steady.

 

[missypie]

What mumom95 said.

I think that is the problem with a lot of the "nightmare Disney vacations" you hear about. Families take a vacation that is really too expensive, then there is so much pressure to "get their moneys worth" that they run everyone ragged, yell at the kids when they're tired, etc.

If you can enjoy it, go. If either of you would be stressed about the money, don't go.

 

[Deb in IA]

That is airfare and condo. You have to realize that we are flying from California. So airfare in a month would be 400.00 each and then 500.00 (100.00 a night) at a 1 bedroom/studio condo. We're not extravagant vacationers so we would likely pack sandwiches and eat out occasionally.


Deb

We just got back from 1 week in Hawaii, on Oahu. I think your plan sounds very doable.

Remember to add in any extra costs, such if you are going to rent a car. Also, many of the attractions that you probably want to do will charge. For example, a luau can range from $80 to $150. Pearl Harbor tickets are free, but the other exhibits there (USS Missouri and Pacific Avaiation Museum) as well as the audio tours all charge. Polynesian Cultural Center, Bishop Museum, Dole Pineapple Plantation all have charges for their activities.

 

[CaliforniaDreamin]

That is airfare and condo. You have to realize that we are flying from California. So airfare in a month would be 400.00 each and then 500.00 (100.00 a night) at a 1 bedroom/studio condo. We're not extravagant vacationers so we would likely pack sandwiches and eat out occasionally.

Let me know what you decide I'd like to know.

Deb

I think the last time I looked at airfare from NC to Hawaii it was over $900 pp. That is 4k just in airfare. You are lucky to live in CA. Sounds like you have a nice vacation planned. I say go for it!