How much do you spend on trips?

[ryankski]

We average spending 5% of our gross income and usually that's on one big trip that is 2-2.5 weeks in length. However, this year we are spending about $12,000 which is nearly 13% of gross. This year is a little different as we saved all last year to take my son who is 2.5 to Disney this May which will be his first vacation with us since being a newborn. Additionally, we have been saving $2,000 a year for the last 4 years to go to Australia in October. It's looking like we will be going to Tokyo and Australia over those 2 weeks which will mean a stop at Tokyo Disneyland too. Not important to this discussion, but it makes me happy.

I feel like we spend a lot especially compared to friends and family, but we always have the cash saved before we go. We also have no debt except for our house and are each saving 25% of our gross pay in retirement. Vacation is our third largest expense after retirement and our housing expense. Sometimes we discuss slowing this down and hitting the mortgage, but travel is our only indulgence so we will see. The right amount is definitely going to be a different for each person and situation, but if your paying cash and saving for the future then pick whatever number make you happy.

 

[cdnusagurl]

We spend whatever we can afford and want to spend on every trip we take. Our honeymoon two years ago was $8000 for just the two of us since we went to the destinations in the US, Canada, and Jamaica for one month. Then last year we spent $1000 on a quick 3 day getaway road trip. Next year I'm budgeting and planning not to spend more than 4500 CAD on our trip to Disney World and Universal, although I know we'll probably exceed that. As long as we both leave our destination feeling relaxed and happy, that's all that matters to us.

 

[DawnM]

Typically DH gets about $2500 in bonus money each year. That is our Orlando fund. We have other money for other trips.

 

[brandy14]

The only thing we have a strict budget on is the amount of vacation time we get - 2 weeks/year plus the week between xmas and new years. Depending on what we decide to do with those weeks we take 2-3 "big" trips a year and then a couple weekend trips as well using holidays like 4th of July and Thanksgiving since we each get a couple extra days off.

With travel there is no "should" for spending. Its entirely up to you and what you are comfortable with. We spend a LOT more on travel than most people because we don't have kids or car payments and have a relatively cheap mortgage by buying less house than we can "afford" - thus our discretionary funds are plentiful. As long as we meet all our obligations - including funding our retirement accounts - we figure we are golden.

Very well said! We spend a lot on vacations. Depending on what our vacation plans are for that year depends on how many vacations we can have. We are a large family with large vacation costs and some trips cost more then others. Last year we took 3 small weekend trips. This year we are going to WDW for a week. We plan out our future vacations as well as budgets for those vacations years in advance. Some times we have to save for a few years to go on certain trips. For us there is not set amount its all about where we want to go and what we want to do.

I do have 4 children, however we live very frugally. Paid off cars (older as well), paid off house (less house then we could afford as well), we try and buy used to save more for vacations, we have only what we need (that means each kid has 5 sets of school uniforms and a few going out outfits, play clothes) and I coupon/deal shop year round. Memories are never forgotten however things are.

 

[TnTWalter]

we save monthly into our vacation fund. We do small some years and go big other years. We probably put about 5% of our income into the vacation fund. we have no debt but 3 teens and they are expensive. lol.

 

[disneylovinmom3]

Starting this year due to a new job anywhere from $6,000-10,000 a year. We have one vehicle that's almost 10 years old and we tend to DIY everything we can and don't really care about material things, which leaves us with more funds for trips.

 

[agavegirl1]

Trips to Orlando cost us a lot because we have to fly and we do more than one resort. As long as we are there, we visit other Florida venues. DH prefers US/IOA so we spend time there. We figure with tickets, airfare, hotels food and miscellaneous expenses we will spend an average $500 per day for the two of us. Our next trip is budgeted at $8200 for 16 days including getting there, tickets, taxi/Uber charges, moderate hotel at WDW, Deluxe hotel at US and something in between for the other days.

For that reason, we go every four years and have a separate savings for Orlando so it is mostly paid for before we walk in to a park.

 

[tzolkin]

It has been around 10%, but last year and this year only about 5-6%. (Still spending about the same amount, but we moved and DH got a promotion.) We could afford more, but our oldest started college this year and the other two are not too far behind. We also plan to do some more expensive trips, so our travel budget will go up quite a bit over the next few years.

The trouble with taking recommendations about the amount or percentage to budget for travel is that others know nothing about the rest of your budget.

For example, we save 25% (retirement and college), give 10%, and have no debt besides a modest mortgage. Spending 10% or more on travel is a perfectly sound financial decision.

However, if we had loads of debt, no emergency fund, and weren't putting away anything toward retirement, spending that much on travel would be foolish.

 

[TwoMisfits]

It has been around 10%, but last year and this year only about 5-6%. (Still spending about the same amount, but we moved and DH got a promotion.) We could afford more, but our oldest started college this year and the other two are not too far behind. We also plan to do some more expensive trips, so our travel budget will go up quite a bit over the next few years.

The trouble with taking recommendations about the amount or percentage to budget for travel is that others know nothing about the rest of your budget.

For example, we save 25% (retirement and college), give 10%, and have no debt besides a modest mortgage. Spending 10% or more on travel is a perfectly sound financial decision.

However, if we had loads of debt, no emergency fund, and weren't putting away anything toward retirement, spending that much on travel would be foolish.

But it's good to give people a "range finding shot." While any vacation may be foolish if one is in large debt and not saving...it also may be life-affirming for them, so it can't be completely discounted out of hand. So, providing a reasonable maximum for someone is not the worst idea. If you tell them, if you HAVE to do this or you'll be perpetually miserable, you might want to keep your budget to 5% of net income/$1K per person/per year or less and see what you can plan for that vacation you want (and if you'll have to save multiple years to get the one you really want), that's not a bad idea vs "YOLO - just do it to the max and da&n the costs!"...

It's the difference between keeping your head above water and completely submerging...a lot of people don't mind staying afloat while they work through life...

I equate it to the old "dieters need a cheat day" to avoid misery...just saying "you get no vacation ever" is not really gonna work for the vast majority in debt...but having just a small one every once in awhile will...this is giving someone what a small one should look like in costs...

 

[riddlemethis]

.

 

[tzolkin]

But it's good to give people a "range finding shot." While any vacation may be foolish if one is in large debt and not saving...it also may be life-affirming for them, so it can't be completely discounted out of hand. So, providing a reasonable maximum for someone is not the worst idea. If you tell them, if you HAVE to do this or you'll be perpetually miserable, you might want to keep your budget to 5% of net income/$1K per person/per year or less and see what you can plan for that vacation you want (and if you'll have to save multiple years too get the one you really want), that's not a bad idea vs "YOLO - just do it to the max and da&n the costs!"...

It's the difference between keeping your head above water and completely submerging...a lot of people don't mind staying afloat while they work through life...

I equate it to the old "dieters need a cheat day" to avoid misery...just saying "you get no vacation ever" is not really gonna work for the vast majority in debt...but having just a small one every once in awhile will...this is giving someone what a small one should look like in costs...

I'm sorry if my post was unclear. I did not say if you have debt or minimal savings you should never go on vacation. I said you shouldn't be spending 10+% of your income on vacations if you're in that financial position. My point was really that just because 10% (or whatever amount) is the "average" response on this thread, does not mean that's what everyone can/should be able to afford.

Also, I was stating that is was financially foolish to spend that amount in those circumstances. That certainly doesn't mean that someone couldn't make a conscious decision to do so. For example, if someone in your family was terminally ill, you may choose to go on an expensive vacation even though you completely understand that it will hurt you financially because you see a benefit that outweighs the financial cost. There have been times when we have gone on certain trips because we knew we would not ever have the opportunity to have the same experience. (Ex. Disney when our kids were little. Sure, we could have waited until we had more saved for retirement or more disposable income, but it would have been a different experience travelling with teens/young adults.)

There have been a few posts recently on the community board where people have stated that they travel extensively, but also have absolutely no savings (spend all the money they make immediately on vacations). I was just pointing out that since we don't know the budget details of every poster, some may throw off a realistic average because they are living (and travelling) well beyond their means.

 

[ZephyrHawk]

I've never previously considered calculating our vacation costs as a percentage of our take-home salary...This year it would be...approximately 5%....I'm not entirely sure. Next year...about the same.

I suddenly feel I should be spending more towards my favorite pastime....

 

[Tattylou]

Hi there! We're planning a *big* Disney trip this summer. We also gave into temptation and did a long weekend with airline miles last month. I'm now daydreaming about a fall or Christmas trip. I feel like I'm spending too much money on travel, but I have no idea what I should be spending.

So....

How much money do you spend on travel each year, relative to the rest of your budget? Is it something like 10% of your take home pay or 25% of your unobligated funds? How did you do the math - did you decided on X number of trips per year or X number of dollars each year or what?

I want to follow a budget and make smart choices, but I also want to go every where and do everything.

I wish I had answer for you....I feel like I could've written your post myself.

 

[Sundowner2]

Wow, I feel a little depressed now. DH is a teacher, but in a state where there have been no raises for 10 years. He took a 20% paycut so we could move near my family, so I try never to complain, and since I'm staying home with the youngest, it will be another 2 years before I go back to work, more than my 10 hours a week now in an office. We scrimp for $50-75 a month into a vacation account, and then put $1000 of our tax return into it too. So takes a while to save up for trips. There are 4 of us. One day hope to do more!

 

[Darcy03231]

Wow, I feel a little depressed now. DH is a teacher, but in a state where there have been no raises for 10 years. He took a 20% paycut so we could move near my family, so I try never to complain, and since I'm staying home with the youngest, it will be another 2 years before I go back to work, more than my 10 hours a week now in an office. We scrimp for $50-75 a month into a vacation account, and then put $1000 of our tax return into it too. So takes a while to save up for trips. There are 4 of us. One day hope to do more!

Don't feel depressed. Keep in mind that some of us are at different points in our lives. DH and I are most likely much older than you. Our children are grown and out of the house, and we have no expenses for them anymore. We've downsized our home and have no expenses other than our monthly bills. From your post it looks like you still have a young family, a mortgage/rent and are probably saving money for college expenses. These are all expenses some of us no longer have so we are able to put more toward travel. Trust me, when we had a young family, a mortgage and college expenses we probably only spent 3-5% of our annual income on vacations.

 

[TwoMisfits]

I've never previously considered calculating our vacation costs as a percentage of our take-home salary...This year it would be...approximately 5%....I'm not entirely sure. Next year...about the same.

I suddenly feel I should be spending more towards my favorite pastime....

That's actually the % that most financial experts encourage for vacations...

 

[Sundowner2]

I appreciate that!! You are right of course. I often tell my husband the only thing thats going to cheer me up when my boys are out on their own is more frequent trips to disney!!

 

[dashofsunshine]

My husband and I are 28 and 33, no kids yet - I'm one of those women who definitely would not have been ready or capable at 22-26 In the next year or two, though, it will be time for little ones, so our vacation habits and spending will be changing quite a bit, I'm sure.

We like to travel. We usually use our tax return on a big vacation each year - last year it was Japan, this year it will be Europe in October. We sometimes do a Disney trip as well, sometimes don't - it depends on how much extra we can save during the year. But we do Disney - and all of our travel - cheaply. We stay off site, or if it's non-Disney travel, I scour Airbnb months ahead of time for a great deal, even internationally. I monitor flights for anywhere from 3-8 months to get the best prices. If it's Disney, we sometimes drive down. We don't do park hoppers, and most trips, we don't even hit every park.

We do rent, and my husband does have student loans, but they aren't astronomical. I was very lucky & blessed to graduate debt free. We both have good jobs.

Like I said...things will be changing once kids come along, and we need to buy a house, etc....lol. Everyone has different situations at different points in their lives!

 

[LovesTimone]

A 7 night summer cruise to Grand Turk and the Bahamas that I have budgeted at $4500 OOP ($3150 in cruise fare for 2 bad view french door cabins, $500 tips, $250 prepaid Freeport excursion for 6, $400 alcohol for husband's package, $150 for parking at and travel to/from the port, and $200 miscellaneous on board expenses offset by $150 On Board Credit for $4500 total.) My mom has booked us a private island house/cabana thing for the private island beach day that I was planning on being free, so that will be a nice perk. In Grand Turk, we will do another free day at Maragaritaville's pool (since no excursion spoke to us).

We have been there and its more like a spring break pool, if you get my drift. There is no way that I would get in that pool, not even for a million dollars. We did have lunch at Margaritaville and food was okay they really pushed the buckets of beer and There were tons of beach chairs and a nice beach area we evened snorkeled some right there, so that was a great option. They built a fairly nice shopping area, with some nice stores with more than just T-Shirts.. We did buy a few things. We spent about 4 or 5 hours then decided a nap was looking good for us...

On the private island if you want to snorkel on the beach bring your own gear, they ran out at the surf shack, and they were charging a pretty penny. They did offer a snorkel tour that was only a bit more than the cost of renting snorkel gear. The private cabanas are nice. We skipped the tour as we planned a couples massage that was wonderful.

One the alcohol package you might want to double check to see if its a good deal, We always go with the specials drink of the days - buckets of beer ( coors light, red stripe, and a couple others) and /or what ever mixed or frozen drinks that are on the special (rum runner, mojitos, what ever) and we would order a bottle of wine with dinner, all in for the both of us the booze bill was around 600 for the both of us for 6 nights. Just a thought...

 

[TwoMisfits]

A 7 night summer cruise to Grand Turk and the Bahamas that I have budgeted at $4500 OOP ($3150 in cruise fare for 2 bad view french door cabins, $500 tips, $250 prepaid Freeport excursion for 6, $400 alcohol for husband's package, $150 for parking at and travel to/from the port, and $200 miscellaneous on board expenses offset by $150 On Board Credit for $4500 total.) My mom has booked us a private island house/cabana thing for the private island beach day that I was planning on being free, so that will be a nice perk. In Grand Turk, we will do another free day at Maragaritaville's pool (since no excursion spoke to us).

We have been there and its more like a spring break pool, if you get my drift. There is no way that I would get in that pool, not even for a million dollars. We did have lunch at Margaritaville and food was okay they really pushed the buckets of beer and There were tons of beach chairs and a nice beach area we evened snorkeled some right there, so that was a great option. They built a fairly nice shopping area, with some nice stores with more than just T-Shirts.. We did buy a few things. We spent about 4 or 5 hours then decided a nap was looking good for us...

On the private island if you want to snorkel on the beach bring your own gear, they ran out at the surf shack, and they were charging a pretty penny. They did offer a snorkel tour that was only a bit more than the cost of renting snorkel gear. The private cabanas are nice. We skipped the tour as we planned a couples massage that was wonderful.

One the alcohol package you might want to double check to see if its a good deal, We always go with the specials drink of the days - buckets of beer ( coors light, red stripe, and a couple others) and /or what ever mixed or frozen drinks that are on the special (rum runner, mojitos, what ever) and we would order a bottle of wine with dinner, all in for the both of us the booze bill was around 600 for the both of us for 6 nights. Just a thought...

Thanks! On the private island, my mom's "house" comes with snorkel gear and floating mats, although we all wear pretty severe glasses, so don't snorkel...we are just planning on bringing some sand toys and wading into the water with the mats...my family hasn't been to a beach in years, so that alone will be a treat for the kids (for my spouse - not so much, b/c he hates beaches but this is his "taking one for the team").

If Margaritaville is nuts, my backup plan is another beach day, but my spouse does prefer pools to beaches (although both rank low), so we are gonna try the 1st plan...thanks for letting me know it can be crazy (I think we're the only ship in that day, but I should double check that now b/c I know that makes the biggest difference!)

As for the alcohol, that was a gift I've already given my spouse. Since I don't drink really at all (one maybe all trip, since I usually have motion sickness meds I need to take), on previous cruises he always felt guilty buying drinks and me abstaining (and the cost)...since we have split cabins (as a party of 6), I figured this was his one chance to really enjoy the high end stuff and beverages he wants without him worrying (and he is taking it for the team with the port plans, although he did like the Freeport one, since there's no beaches/pools planned) - he is a high end scotch/bourbon/whiskey/red wine drinker, not a casual beer or fruity drink one. I know he also can't drink the ship coffee, b/c it's terrible, so he can have as many of those as he wants, too. It's my one splurge for the trip (kinda like my mom's one splurge was booking the private villa).

But thanks for all the feedback, especially on Margaritaville!