pay debt or save for trip?

[hsmamato2]

sorry I didn't vote because I don't like the options. I vote for paying off your debt,then build some savings,then save for your trip.

 

[disykat]

I was afraid to answer earlier because I thought I'd be scolded by the "life is short, take the trip, debt doesn't matter" folks. I'm glad to see so many like minded people.

Get rid of the debt or get it down where it no longer seems "considerable," then plan your trip.

We went for our 10th anniversary, but only because of an inheritance from my grandmother. By our 20th it was easily done because we've always been frugal. We're hoping to continue taking the whole family every 10 years as a tradition, but the only reason we'll be able to do that is because of our basic frugality throughout the years and the practice of not spending money we don't have.

 

[Burnedout]

Other. Pay your debt. Show your kids that being responsible for your choices is the way to live life. And that you don't have to spend $3000 to make memories and spend special time together.

 

[mrsdrake625]

Pay off the debt and then save for the trip and then take the trip!
Let your present to yourselves be debt-free-ness!
Otherwise you are just staying in the debt trap.

Think how awesome and not guilty you will feel when you are free and clear and can afford a cool vacation!

This!! Otherwise you'll take the trip and feel guilty about it the whole time, completely defeating the purpose of vacation. Your debt will only grow the longer you take to pay it off.

PAY. OFF. THE. DEBT.

 

[NYCDiane]

I would pay off all debt (other than mtg) before taking a vacation or trip.

Personally, I cannot justify taking an expensive trip when I have a bunch of debt that needs to be paid off. Even if you get a "deal" on the trip, it's not worth it. Use that money to pay off your debt first.

 

[manning]

I'm going to be nasty. For your sake.

Do you really think while in debt is really a good idea to continue to spend, and spend and spend. You have , well.....a spending problem. Gee where did I hear that before.

Get yourself on a budget, spend on only the things you need. As you reduce your debt you begin to realize the $$$ you paid out on interest can now be used to buy things. Your buying power begins to increase.

When you get to the point where you are debt free you realize life is fun. I did years ago.

 

[MrsPete]

Seriously?
You already know the right answer.

 

[disykat]

Maybe not. If she'd asked this question on the community board she would have gotten very different answers.

There are a lot of "I live far but still go every year" DISers who are in debt.

 

[anniemck]

Honestly, tomorrow is never promised for any of us. Have fun.

ETA: We have no mortgage (place was bought for cash 32 years ago, car payments (mine is a 1998 and his is a 1991) or credit cards, so our bills are limited to 2 cell phones ($60 month total), car insurance ($200 month total), electric ($150-200 month) and water ($25 month) we have a roku and our monthly subscriptions are less than $20 and the internet is $50.
We have both been unemployed myself for 2 years and just got a new job last week and a second one today, and my husband has been out of work since September.
In the mean time, we have done what we could to make money, recycling, scrapping mostly and that has really helped.
I stand by my statement though... bills will always be there, however family time tomorrow is never promised, enjoy your time pay your bills maybe not stay on property to save money.

 

[StitchesGr8Fan]

I think it is very telling that the OP didn't make one of the voting options "Pay off the debt and then save for the trip." Every option entailed some sort of debt.

Yes, family time is precious. But I don't think you have to go in to debt to have quality family time and make lasting memories.

 

[beansmom]

we have paid off all but one credit card and it has a very low balance. However, we have tax obligations that we will be able to meet.

But this morning we decided to cancel a dream trip to Ireland and Scotland that is scheduled for May 3 because we just couldn't go and incur debt again just for a vacation. We will re-schedule for a time AFTER the taxes are paid and we have the money for the trip saved ahead and pay cash for the trip.

An anniversary is no reason to go $$$$ into MORE debt. Is that what you want to teach your children? Financial irresponsibility? That instant gratification is more important than financial stability? That debt is better than working and then enjoying the fruits of your labor? I could not take the stress of knowing that we were financially not ready to go right now but going anyway.

The grown up example to set for your family is taking care of your obligations before you pay for play. It stinks sometimes but it's the right thing to do.

 

[DawnM]

No trip until all debt is paid off and you at least have an emergency fund of $1,000 saved, THEN save for a cash only trip.

 

[Lisa71]

I agree with pp to pay off debt but i would start two savings accounts when done ...put a very small amount like 50 a month in one and a lot in the other. The little one can be your vacation fund and while it will grow slowly it will help you feel less stuck by finances to see that little fund. I call mine my dream fund and I have had to dip it at times and can use it for fun other times. I have a friend with 3 non retirement savings ...regular (real emergencies) repair or replace (cars, appliances) and vacation. He never has debt and has had some great well planned vacations.

 

[Christen99]

All of your options state "go on trip". You need to pay off this debt, and change how you perceive spending. If you have considerable debt, you need to address it.

We became debt free years ago and it has been liberating. Would I have loved to travel, buy amazing clothes, and not ever cook? You bet! Would I enjoy it knowing I'm destroying my finances? Not a chance!

We are paying cash for our trip, including the DDP, and we have been purchasing Disney cards each time we hit up Target.

In my opinion, a vacation isn't worth it if you're stressed about how you're going to afford it.

Go for a nice weekend away, enjoy being with each, and celebrate your marriage. Disney World will be there when you can afford it.

 

[WAMUMOF4]

We have a considerable amount of debt that we have been paying off, but our 10th wedding anniversary is coming up and we want to surprise the family with a trip to our "other" home- WDW!
Do we save for the trip or pay off debt and then charge the trip!?!?

What is your debt because I think that makes a big difference if it's just your mortgage take the trip because yes life is to short didn't today's events show that again, but if your debt is credit cards and you are already paying off other trips then I think you should pay down your debt first. Good luck with whatever you decide and for the record I think 10 years deserves celebrating

 

[Marionnette]

What is your debt because I think that makes a big difference if it's just your mortgage take the trip because yes life is to short didn't today's events show that again, but if your debt is credit cards and you are already paying off other trips then I think you should pay down your debt first. Good luck with whatever you decide and for the record I think 10 years deserves celebrating

Yes, the event in Boston is a reminder that life is short and none of us is guaranteed a tomorrow. But I also know from first-hand experience, it's no picnic to watch a surviving parent struggle to pay the bills when their spouse dies, leaving crushing credit card debt and only one income to handle it. If you think that debt is considerable now, think about how difficult it can be when you have less than half of the money coming in. No grieving child should have to bear witness to their only parent devastated with worry over how to keep a roof over the family's head and food in their stomachs.

 

[Granny square]

Yes, the event in Boston is a reminder that life is short and none of us is guaranteed a tomorrow. But I also know from first-hand experience, it's no picnic to watch a surviving parent struggle to pay the bills when their spouse dies, leaving crushing credit card debt and only one income to handle it. If you think that debt is considerable now, think about how difficult it can be when you have less than half of the money coming in. No grieving child should have to bear witness to their only parent devastated with worry over how to keep a roof over the family's head and food in their stomachs.

So sadly true. Memories, and celebrations can take a million different forms that are not expensive vacations. That is a lesson that kids can take into a wonderful future.

 

[eliza61]

Yes, the event in Boston is a reminder that life is short and none of us is guaranteed a tomorrow. But I also know from first-hand experience, it's no picnic to watch a surviving parent struggle to pay the bills when their spouse dies, leaving crushing credit card debt and only one income to handle it. If you think that debt is considerable now, think about how difficult it can be when you have less than half of the money coming in. No grieving child should have to bear witness to their only parent devastated with worry over how to keep a roof over the family's head and food in their stomachs.

So I'll be the opposing voice.

Dh and I saved, saved, saved and now he's dead and I'm a widow.

I wish I had saved less and did the things dh and I dream of more. I wish I had saved less and taken the family trips we wanted but didn't just to be able to pay cash for the new a/c instead of financing it.

Now I don't know what "considerable" debt means to you, different folks it means different things. You say no grieving child should have to bear witness to their parents devastation, well no mother should have to call her freshman son at college to tell him to get on the first flight smoking because his dad is dying and might not make it through the night.

Yeah I proudly say MONEY IS NOT THE MOST IMPORTANT THING IN MY LIFE ANYMORE. (not saying that it is for anyone else, simply speaking for myself)

So I'll embrace the "irresponsiblity" label because if it comes between spending time with my sons or paying a bill. vacation time with my sons will always, always be first.

Now I'll also add, I've never needed to do disney for that, I can find less expensive ways but skipping a vacation. Never again!!

I'll also add, that I lost my husband a few months ago so maybe this is just fresh grief. ask me this question again in a year or so and I may feel different.

Interestingly enough for all the folks who claim to pay off the debt, most voted the middle ground.

 

[Burnedout]

I didn't vote because there wasn't a choice that I liked. You hit the nail, though when you said you don't have to do something wild and expensive to enjoy time and people. I'm surprised none of those people commented.

 

[Granny square]

I didn't vote because there wasn't a choice that I liked. You hit the nail, though when you said you don't have to do something wild and expensive to enjoy time and people. I'm surprised none of those people commented.

Me neither.