Put it all on a CC?

[Colleen27]

You're right. Covering back-to-school expenses is all part of being a parent. It happens every year. There are relatively few surprises and by the time your kids are in high school, you pretty much learn to anticipate the costs.

I never said that the OP was financially unstable. What I was trying to point out is that, by her own admission, she doesn't have the money to pay for a trip next summer. She cannot even save enough to cover the cost by next summer (her words in the OP). Hence the need to put it on a CC. My feelings are that if you know you cannot afford a luxury, why would you put it on a CC?

There are a lot of middle-income posters who manage to save in order to take vacations. They get it all paid off before they even head out the door. They delay taking their trips until they have the money to pay for it. I'm not saying that the OP should never go to Disney. I'm saying that she should look at the big picture that lies ahead of her and take those expenses into consideration before she puts herself in debt over a vacation.

I'm not just talking about routine back-to-school costs, though, but rather the extras and unexpected things that pop up. It seems like this is the time of year for them. My oldest is in high school and there's been a lot I didn't budget for this year - a last-minute 50% hike in the pay-to-play sports fee, both kids failing the eye exam portion of their sports physicals resulting in eye exams and new glasses OOP because our insurance only pays once per year, the football coach "strongly recommending" compression shorts and undershirts with the built in pads (to the tune of $150 for the set), needing marching band shoes that cost almost as much as his sneakers, etc.

I know you didn't say she should never go... No one said that directly. But it certainly was the tone of a lot of the posts about child support ending, college expenses coming up, etc. There was an implication there that a single mom on a teacher's salary can't afford expensive vacations, period, without somehow shortchanging her child in other ways, and that even if she could save up to pay cash for this trip she shouldn't take it because the money will be needed for other things. That tone comes out in just about every one of these threads from a lower/middle income poster - the judgments about whether college and retirement planning are adequate, about the stability of jobs or pensions, etc.

Good point,
heck I'm definitely one of those people who wonder how people making only 40K eat, more or less go on vacations. I can't imagine in my area anyone surviving on that low of a salary.

I also though wonder why people even ask "credit card" questions here. This is the most anti debt place outside of Dave Ramseys website so I kinda think anyone posting one has to know that the response they get is not going to be nice.

And I can't imagine what it is like to live in the higher cost of living areas that some of my online friends live in. Wages can't possibly be high enough to compensate.

I wonder the same about the CC questions, or any "Can I afford...?" or "Would you spend...?" questions. Anyone who reads here on a regular basis has to know that unless you have no debt, a secure job, and fully funded retirement and college accounts the answer from many posters will always be "no".

 

[beck02]

I'm still planning on taking the trip, but just not sure exactly when.

Good for you! It's about a balance, and I know quite a few people who never made it to retirement. Or, didn't have the health at a later time to do stuff like that. I'd suggest (if possible) you get a 18 month no interest CC if you do end up needing to put some on a CC, vs. paying a monthly interest.

 

[mom2my3kids]

A little more info from me (the OP):

First, I do have a retirement plan. The NYS Teacher's Retirement is pretty good, and on top of that, I have $30K in another retirement fund (from the divorce settlement).


Second, my unexpected expenses this summer were not as trivial as school supplies. My mother is in an assisted living facility, and there have been some out-of- pocket expenses there (we had to pay over $3000 for a couple of ambulance trips to the ER, for example) that my brothers and I split. Also, my younger DD was invited to participate in a workshop sponsored by a couple of Broadway performers --- a very prestigious opportunity, but it was rather costly. I decided to go ahead and pay for her to do it (since in another DIS thread, I was called a "jerk of a mother" for not doing everything in my powers to help her pursue her dreams, LOL!). Last but not least, my older daughter signed up for 3 Gemini classes at school, and that was an extra $440 that I had not budgeted for.

Third, I actually do have a payment option in mind. For the year(s) before we go, I'm planning on taking money that used to go payments that I no longer have (braces, refrigerator/stove that quit on me last year, and cc that I paid off), and putting the money into a special account. After the trip, I'll continue to use that money to pay off the cc.

As for my "few department store cards with less than $500 on them" -- wow, did you guys jump all over that! I just looked them up for you, so here you go: Kohls is the highest at $427, Old Navy is next with $213, and Macys is the only other one with $170. Once I start getting regular paychecks again, I will be able to pay those down with no problem.

I'm still planning on taking the trip, but just not sure exactly when. I was raised by a single mom who made less than $12K a year, and didn't even have a car for most of my childhood; and I never ever ever went on a family vacation. And guess what --- it DID matter! I feel like I really missed out. I know it wasn't my mom's choice, but I *do* have a choice to have these great adventures with my precious daughters while they're still home with me, and I choose to do it.

(and I'm certain that a few of you will start digging through previous posts and threads to find contradictory statements I made somewhere - LOL!)

 

[mom2my3kids]

Can I say while a disney trip is on the high side, there are things you can do to cut corners..

Stay offsite

eat breakfast at hotel and bring lunches to parks.. Pick a couple cs meals that you all agree on and make that your splurge days..Pack drinks, waters and sodas if you are driving bring with you..pack a cooler and you wont be spending tons on drinks and food..

Buy tickets from undercover tourist..If you have to do time shares and get free or pay very little for tickets..

Save all of your change, starting now I am sure you could save a few hundred dollars just on change..

Have kids bring their own spending money..that takes the pressure off of you and your pocket book..Have kids ask for money instead of gifts for birthdays and special occasions..disney cards as gifts for christmas..etc

I hope it all works out for you and your family..

 

[eliza61]

Can I say while a disney trip is on the high side, there are things you can do to cut corners..

Stay offsite

eat breakfast at hotel and bring lunches to parks.. Pick a couple cs meals that you all agree on and make that your splurge days..Pack drinks, waters and sodas if you are driving bring with you..pack a cooler and you wont be spending tons on drinks and food..

Buy tickets from undercover tourist..If you have to do time shares and get free or pay very little for tickets..

Save all of your change, starting now I am sure you could save a few hundred dollars just on change..



I hope it all works out for you and your family..

+1

Personal experience, one year we decided simply to save our change. I never really made the attempt because I just never thought of bringing the can in when I go to the bank or the grocery store.
Long story short, imagine our surprise when we filled up an old 1 gallon milk container with change and had almost 500 bucks. I darn near passed out, not because it was such a huge amount but because it was simply so easy to do. we just emptied out our pockets every night.

 

[aaarcher86]

A little more info from me (the OP):

First, I do have a retirement plan. The NYS Teacher's Retirement is pretty good, and on top of that, I have $30K in another retirement fund (from the divorce settlement).

Second, my unexpected expenses this summer were not as trivial as school supplies. My mother is in an assisted living facility, and there have been some out-of- pocket expenses there (we had to pay over $3000 for a couple of ambulance trips to the ER, for example) that my brothers and I split. Also, my younger DD was invited to participate in a workshop sponsored by a couple of Broadway performers --- a very prestigious opportunity, but it was rather costly. I decided to go ahead and pay for her to do it (since in another DIS thread, I was called a "jerk of a mother" for not doing everything in my powers to help her pursue her dreams, LOL!). Last but not least, my older daughter signed up for 3 Gemini classes at school, and that was an extra $440 that I had not budgeted for.

Third, I actually do have a payment option in mind. For the year(s) before we go, I'm planning on taking money that used to go payments that I no longer have (braces, refrigerator/stove that quit on me last year, and cc that I paid off), and putting the money into a special account. After the trip, I'll continue to use that money to pay off the cc.

As for my "few department store cards with less than $500 on them" -- wow, did you guys jump all over that! I just looked them up for you, so here you go: Kohls is the highest at $427, Old Navy is next with $213, and Macys is the only other one with $170. Once I start getting regular paychecks again, I will be able to pay those down with no problem.

I'm still planning on taking the trip, but just not sure exactly when. I was raised by a single mom who made less than $12K a year, and didn't even have a car for most of my childhood; and I never ever ever went on a family vacation. And guess what --- it DID matter! I feel like I really missed out. I know it wasn't my mom's choice, but I *do* have a choice to have these great adventures with my precious daughters while they're still home with me, and I choose to do it.

(and I'm certain that a few of you will start digging through previous posts and threads to find contradictory statements I made somewhere - LOL!)

I was actually the one that had the jerk comment and that wasn't why I said it. That whole thread mimicked my thought . Keep holding onto that though. I know the word jerk really gets your knickers in a twist for whatever reason!

You have a habit of posting and then clarifying in your favor after the responses aren't what you expect.

 

[Minnie_me]

I was actually the one that had the jerk comment and that wasn't why I said it Keep holding onto that though. I know the word jerk really gets your knickers in a twist for whatever reason!

I felt I'd better clarify why I enrolled my daughter in the class, or people would jump on me for spending the money. (and it actually led to a lot of great feedback from the performers, and my daughter gained some invaluable skills; well worth the money)

You have a habit of posting and then clarifying in your favor after the responses aren't what you expect.

I guess I am always taken aback by the interrogations and assumptions that follow so many seemingly innocent posts. I try NOT to give too much info at first, so as not to be identified by acquaintances (I'd rather remain anonymous). But people assume the worst, and question every little detail in order to prove the OP to be a jerk, when they were usually asking an innocuous question.

Regardless, I got some great advice on this thread. I do not feel attacked at all, but did feel the need to clarify some things that were misunderstood or incorrectly assumed. I definitely value the opinions of the people who would advise against putting the trip on a CC, and I will take it into consideration.

 

[aaarcher86]

I felt I'd better clarify why I enrolled my daughter in the class, or people would jump on me for spending the money. (and it actually led to a lot of great feedback from the performers, and my daughter gained some invaluable skills; well worth the money)

I guess I am always taken aback by the interrogations and assumptions that follow so many seemingly innocent posts. I try NOT to give too much info at first, so as not to be identified by acquaintances (I'd rather remain anonymous). But people assume the worst, and question every little detail in order to prove the OP to be a jerk, when they were usually asking an innocuous question.

Regardless, I got some great advice on this thread. I do not feel attacked at all, but did feel the need to clarify some things that were misunderstood or incorrectly assumed. I definitely value the opinions of the people who would advise against putting the trip on a CC, and I will take it into consideration.

I'd really like to hope you didn't jump on a large expense because of someone you don't know said something on the internet. Regardless, it's nice she learned something.

 

[Minnie_me]

I'd really like to hope you didn't jump on a large expense because of something someone you don't know said something on the internet. Regardless, it's nice she learned something.

Lol, NOT AT ALL!!!! When I said that was why I did it, that was VERY tongue in cheek, a wink to anyone who had read that thread (and it worked, you noticed!). I had the $$ at the time, it seemed like a wonderful opportunity, she was the youngest one invited to attend, and she received the most accolades at the end. So it was WELL worth it!!!

 

[dmoore718]

I say..do what you feel is going to work for your family..only you know how long it will take you to pay it off..that being said. We use our Disney Visa with 6 months interest free, but to be honest, DH pays it off pretty much as soon as the bill comes in. You can also book as soon as it opens up, make smaller payments, ask family to give you all Disney Gift cards for holidays and birthdays over the next year. Buy some Disney gift cards when you have an extra $50 instead of going out to eat. These are all things that we do and it all does add up. We also drive from PA to save $1500 on airfare for our family of 5. That pays for a lot of Disney Days.

Do the best you can between now and when the 45 day mark arrives...if it seems too much then you can always cancel at that point for a full refund.

 

[patsal]

For the Universal part only, don't book a package. Book the room only and get your tickets from Undercover tourist. When you book you only pay one night's deposit. When you check in you pay your balance in full. If you want you can make interim payments, I don't, rather I stash the money in an account, then pay in full when I arrive. I buy the tickets as I can afford them, one or two at a time depending on how many people I am taking with me. If you are flying you will need to budget for transportation from the airport to Universal. Universal parks are smaller than WDW so if you ahve not been you can cover a lot in a very little bit of time and staying on site with FOTL will get you through things even more quickly. The nice part of the deposit then pay in full is if you book five nights, but then 30 days before arrival decide you only want three or four you can make the change and not be worrying about being credited for them.
Good luck!

 

[sweetdana]

I would go, but I would also pinch pennies and save save save until then..

This . Cut every penny , skip splurges, stay off site. And between now and then cut budget on everything else. Bringing lunches to work, skipping all star bucks Tim hortons, and cut Christmas budget way down and be honest why. Also if possible pick up tutoring/ part time income even a few bucks here and there will help.

 

[momofboyz3]

hi there! you have 7 pages of responses and I did not read any of them.... Yet. I am a single mom too (single parents rock!) I took my 3 boys on our first ever trip this past May and it was 8 days to WDW my boys are 13, 13 & 9. I do NOT get child support or govt assistance. I work full time. Most of my friends and family thought I was crazy spending that kind of money---- I am so glad I did!!!!!! Best week of my life and I got amazing pics to prove it~ my boys still talk about it.
I took my savings and my income tax refund. I gave up my dunkin donuts and our weekly pizza delivery. Also for the holidays each boy only got ONE gift each. Once a month we would either go out for lunch or order something and that was our splurge. So your question was should you put it on your credit card?? I would. BUT, I would make double the payments or triple to get the balance down ASAP.
I hope you end up going and have a great time! What an awesome mom

 

[DonnaL]

Only you and your family know what your monthly expenses are and whether you can comfortably afford the monthly payment which will occur by putting the trip on your cc. So, it truly does come down to what your comfort zone is. However, I will say, please don't let others make this choice for you.....in the world we live in, we never know what tomorrow will bring. I have seen far too many people say "Oh....we'll do it next year"....and then, it never happens....whether it be due to a family illness, job loss, or worse. So, as I get older (wiser...maybe..maybe not) I find myself not putting things on the back burner "until next year". That is not to say you should put yourself in extreme debt for a vacation.....but, if you and your children truly want to have a Universal/Disney vacation next year and you can see your way clear to making the monthly payment on a cc for a year or two.....I wouldn't hesitate to do it. There are many, many ways to have a fun, affordable vacation ....don't always assume staying offsite is your least expensive option...especially with the very high cost of daily parking onsite. You might want to start with www.mousesavers.com and www.allearsnet.com. Both websites (especially mousesavers) have some great moneysaving tips and just start an offsite/onsite list and see what your numbers look like. Also, don't know where you live and whether you're planning to drive or fly, but, same thing.....make a list and do the pros and cons both. Also, I have always found I save lots of money by doing all the footwork myself......haven't used a travel agent or purchased a package vacation in years. The internet is a wonderful tool for getting great deals....you just need make sure you do your homework....should be easy for a teacher!! Good luck and have a great vacation with your kids!!!

 

[lvillotta1]

Another single mom here!!!! We rock!!!!! I just found out I have Thyroid cancer for the third time. My girls adopted from China are now 9&5. I have more surgery coming up and have been off work for 3mos now having made a big career move. I have used up half my emergency fund and do have 1 CC with about $1000. Otherwise no debt. Over the last 5-6 years I have paid out over $40,000 in medical bills and will have another $9000 with my next surgery. At this point in life all I care about are memories even though my cancer is slow growing. I am taking my girls to WDW in Feb 2014 and charging it all. I have NO REGRETS about life and money. That is the least of my worries if I have interest to pay. I say don't waste precious time, b/c there might not be tomorrow.

 

[ruadisneyfan2]

If it's between putting most of the trip on a CC and waiting until 2015 when she graduates, I would suggest that 2015 is a better plan. What will she need to prepare at that time that would stop her from taking a family vacation?

I agree. My friend has a daughter that just started college last week but that didn't mean they couldn't find 2 weeks to go on vacation.

We used to go to Uni a lot and had APs there for a while. Really, a long weekend is plenty of time there. 4 days max. Maybe there's a few days off school where you could fit it in? We went last March when they had a Friday off for teachers' in-service.

Also it will add to your cost but add even more to the experience but I highly recommend staying onsite at Universal. You simply show your room key and it's like an unlimited fast pass. We'll never visit Uni w/o a room key.
They offer AAA discounts and AP discount too which was a huge savings, like $100 off our room per night. It was worth it to buy 1 AP just for the hotel savings. They're an easy walk to the parks or water taxi.

I find the best way to save is something that's automatic like the ING (now Capital One 360) savings account. A little bit goes to our Christmas fund every week, like $25, and it builds up quickly.

Try the Universal boards for more tips.

 

[Minnie_me]

Another single mom here!!!! We rock!!!!! I just found out I have Thyroid cancer for the third time. My girls adopted from China are now 9&5. I have more surgery coming up and have been off work for 3mos now having made a big career move. I have used up half my emergency fund and do have 1 CC with about $1000. Otherwise no debt. Over the last 5-6 years I have paid out over $40,000 in medical bills and will have another $9000 with my next surgery. At this point in life all I care about are memories even though my cancer is slow growing. I am taking my girls to WDW in Feb 2014 and charging it all. I have NO REGRETS about life and money. That is the least of my worries if I have interest to pay. I say don't waste precious time, b/c there might not be tomorrow.

This might have something to do with my sense of urgency to take this trip. I am not sick, but have a bad family history. My father died at 42 of a massive heart attack (brought on by his lifestyle, heavy drinker/smoker), my mother survived a stroke at 53 (she weighed 98 pounds, never drank/smoked, had low blood pressure). So part of me always feels like my days are numbered.

I've just added you to my prayer list. Have a blast at WDW with your precious daughters.

 

[gracie1]

Good point,
heck I'm definitely one of those people who wonder how people making only 40K eat, more or less go on vacations. I can't imagine in my area anyone surviving on that low of a salary.

I also though wonder why people even ask "credit card" questions here. This is the most anti debt place outside of Dave Ramseys website so I kinda think anyone posting one has to know that the response they get is not going to be nice.

LOL, I'm lucky if I get through the summer without shelling out thousands of dollars not planned for. We went to France and England this summer, 2 weeks after coming home my dog was diagnosed with diabetes. After the myrid of test, vet visits and blood monitors I was 1000 bucks in the hole. I now have a new montly bill of 100 bucks for his insulin, 2 shots a day and next month he has to have a glucose monitoring screening at the vet for 275 bucks. how does some one at 40K fit that in?

Don't even get me started on house maintance issues. I swear I can't wait until I sell my house and move into a condo.

For me it's a balancing act.

I completely agree about house maintenance issues, but if you are seriously thinking about moving into a condo - you can definitely rack up some more maintenance fees. I am a Building Manager at a condominium property - I have seen buildings in our area have special assessments in the amount of $30,000 for 4 years in a row My advice is to see what projects have been completed recently, what upcoming projects there are, how old is the equipment in the building (elevators, etc) And make sure you find out if they've had special assessments in the past, planning for any in the future and do they have a reserve account built up.

 

[manning]

A little more info from me (the OP):

First, I do have a retirement plan. The NYS Teacher's Retirement is pretty good,

Be careful here. The plan is pretty good IF it is not underfunded. If it is underfunded it means all the money is not there to pay out the commitments. You may end up getting nickels on the dollars.

 

[Happyjen27]

Well, in light of all of this then go. Go, go, go!

I am guessing you knew what all the Budget Board people would say. If we were keen on CC debt, we wouldn't be hanging around talking about budgets.

I argue that it has little to do with anyone's total income, just the desire to help others live a stress free life by living within their own income. I like think that overall there are good people trying to give thoughtful answers to a request.

I do maintain what I said in my previous post, and my gratitude to my single mother who taught me the benefits of a debt free way of life. But, each parent must leave their own legacy, and it's clear you've learned from your childhood it is far better to vacation and pay later than have no vacations at all. This is your life to lead and your lessons to teach, and you must follow your heart and do what is right for you.