Put it all on a CC?

[Minnie_me]

Oh I get that Matt, but the way some are going about it, and bringing up past posts the way they are is bordering attacking her. It went beyond givingng advice.

LOL, well that's what we do here at the DIS, right? Crucify people for every little mistake and flaw? Hunt down every word they ever posted, and drag it back up, quoted and bolded, to use against them?

I've grown a thick skin in my years here, thank goodness. It can be a nasty place. It's always boggled my mind how comfortable people feel saying things behind their computer screen that they would never say face-to-face.

That being said, this thread didn't get *that* bad. I did ask for opinions, and I'll take them all into consideration.

 

[eliza61]

LOL, well that's what we do here at the DIS, right? Crucify people for every little mistake and flaw? Hunt down every word they ever posted, and drag it back up, quoted and bolded, to use against them?

I've grown a thick skin in my years here, thank goodness. It can be a nasty place. It's always boggled my mind how comfortable people feel saying things behind their computer screen that they would never say face-to-face.

That being said, this thread didn't get *that* bad. I did ask for opinions, and I'll take them all into consideration.

You definitely learn how to filter. I think the budget board is probably the worst, mainly because it deals with money which is always a hot button item. My favorite is when (and I always count how many post it is until we get some version of the statement) they tell you, that your way of thinking is the reason why the country is going down the tubes.

It's all good, take the advice you can use and ignore the rest and remember that in reality we are all strangers.

 

[Colleen27]

So, things always manage to come up over the summer and you continually find yourself short of funds? If you think it's tight now, just wait until your daughter graduates, her father stops paying child support and you have to somehow come up with off-to-college supplies. Believe me, the cost of back-to-school stuff for high school is nothing compared to what it costs to outfit a kid for college!

Isn't that just kind of the way of being parents? This time of year is ridiculously expensive and extra stuff does seem to come up every year. I've put out a couple hundred dollars in the last couple weeks on unexpected supplies, gear, and other school-related expenses.

I think part of the reason every "Should I take this trip?" thread on this board brings out a consensus of "no way" is because they all start with the same basic premise - someone living on an average/modest income asking a board full of high earners if they should spend on a luxury. From a six-figure perspective, the normal worries of living on 40-50K look like major financial instability and the savings/planning of those in a middle-income bracket looks entirely inadequate.

 

[nunzia]

Give the lady a break, I was raised by a single mother and I'm sure a few of our trips were on a cc. You know what they are all long paid off, but the memories of my mother taking my sisters and us to Disney come flooding back everytime I walk down main street. My advice if you do decide to do it would be get a credit card with a 0% intro rate for enough time so you can have it paid off before interest kicks in.

 

[isaboo]

LOL, well that's what we do here at the DIS, right? Crucify people for every little mistake and flaw? Hunt down every word they ever posted, and drag it back up, quoted and bolded, to use against them?

I've grown a thick skin in my years here, thank goodness. It can be a nasty place. It's always boggled my mind how comfortable people feel saying things behind their computer screen that they would never say face-to-face.

If you think it's bad here, you should check out the scrapbook message boards! Those ladies are really MEAN.

 

[nunzia]

Isn't that just kind of the way of being parents? This time of year is ridiculously expensive and extra stuff does seem to come up every year. I've put out a couple hundred dollars in the last couple weeks on unexpected supplies, gear, and other school-related expenses.

I think part of the reason every "Should I take this trip?" thread on this board brings out a consensus of "no way" is because they all start with the same basic premise - someone living on an average/modest income asking a board full of high earners if they should spend on a luxury. From a six-figure perspective, the normal worries of living on 40-50K look like major financial instability and the savings/planning of those in a middle-income bracket looks entirely inadequate.

..and to me 40 -50 K looks like a nice income..

 

[Princess Disney Mom]

I would not put it on a credit card. Personally, for me, it wouldn't even be enjoyable knowing that I still had a bill waiting for me when I get home. And, while the summer between high school and college is hectic - it's not like every second of every day is packed. I'd be much happier waiting until 2015 and doing it with cash than putting in on a credit card.

I guess I just disagree with the whole 'memories are forever, debt is temporary' thing. That kind of thinking is what credit companies use to justify overspending all the time. It's why weddings cost an arm and a leg and why vacations can be crazy out of proportion expensive.

Great advice.

Sent from my iPhone using DISBoards

 

[Marionnette]

Isn't that just kind of the way of being parents? This time of year is ridiculously expensive and extra stuff does seem to come up every year. I've put out a couple hundred dollars in the last couple weeks on unexpected supplies, gear, and other school-related expenses.

I think part of the reason every "Should I take this trip?" thread on this board brings out a consensus of "no way" is because they all start with the same basic premise - someone living on an average/modest income asking a board full of high earners if they should spend on a luxury. From a six-figure perspective, the normal worries of living on 40-50K look like major financial instability and the savings/planning of those in a middle-income bracket looks entirely inadequate.

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.

 

[ZehnJahren]

As a child of divorce, my initial reaction was "put it on the cc; this time only comes around once in a lifetime and memories are worth more than the $50 in interest you'll pay."

But the fact is, OP has other credit cards with balances. She didn't even say how many, but when someone says "under $500" that typically means $499 - otherwise, you'd hear "I've got $250 on a cc".

If there was no other debt I'd say go for it. But if there's already another $1000-$2000 sitting, waiting to be paid - NO WAY. Not as a single parent.

 

[ronandannette]

LOL, well that's what we do here at the DIS, right? Crucify people for every little mistake and flaw? Hunt down every word they ever posted, and drag it back up, quoted and bolded, to use against them?

I've grown a thick skin in my years here, thank goodness. It can be a nasty place. It's always boggled my mind how comfortable people feel saying things behind their computer screen that they would never say face-to-face.

That being said, this thread didn't get *that* bad. I did ask for opinions, and I'll take them all into consideration.

Yep, what happens on the DIS stays on the DIS - for ever and ever and ever... I really like your attitude about it though. I personally would never ask for opinions unless I was truly open to the input (and I never ask for opinions about my personal situations on here as I have no value for the opinions of people I don't know or respect). Interesting reading sometimes though, and I for one hope you and your kids get the trip at some point if it's a priority for you and have a great time!

 

[eliza61]

Isn't that just kind of the way of being parents? This time of year is ridiculously expensive and extra stuff does seem to come up every year. I've put out a couple hundred dollars in the last couple weeks on unexpected supplies, gear, and other school-related expenses.

I think part of the reason every "Should I take this trip?" thread on this board brings out a consensus of "no way" is because they all start with the same basic premise - someone living on an average/modest income asking a board full of high earners if they should spend on a luxury. From a six-figure perspective, the normal worries of living on 40-50K look like major financial instability and the savings/planning of those in a middle-income bracket looks entirely inadequate.

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.

 

[crisi]

I think part of the reason every "Should I take this trip?" thread on this board brings out a consensus of "no way" is because they all start with the same basic premise - someone living on an average/modest income asking a board full of high earners if they should spend on a luxury. From a six-figure perspective, the normal worries of living on 40-50K look like major financial instability and the savings/planning of those in a middle-income bracket looks entirely inadequate.

I think that goes on, but I also think that there are a lot of people here who made sacrifices - even on small incomes - to get to a debt free lifestyle. And its an amazing thing when the money coming in is your money - not Visa and Mastercard's.

Money is like weight - if I keep my weight within 2 lbs of my target, then - while I can't eat whatever I want, I seldom need to make sacrifices as long as I'm reasonable. If I need to loose forty pounds, I have months of sacrifices ahead of me - its a lot harder to lose a pound than it is to gain it. If I need to loose ten, the sacrifices last a few months and are doable. When you are already ten pounds overweight, that splurge week of cruise food is not going to make your diet any easier. When you are on target, that week of splurge food adds a few pounds, which comes off in two weeks. And like being debt free - its hard for someone who has been overweight a long time to imagine how much more freeing it is to have a "normal" BMI - your knees hurt less, your back hurts less, and its just so much easier to move.

For me, I can carry a little debt and get it paid off quickly, but we are some of those high earners who normally live below our income - so for me, a little debt is really no big deal - I usually have it when the market is down and I'm using my excess cash to buy stock, and certainly don't want to sell stock to pay off a mere $2500 in debt. - Like a runner with a high metabolism can eat junk that someone else shouldn't if they want to maintain their weight. But I remember rather vividly making due on $14k a year, and seeing that $30 was going to credit card interest a month - and at $14k that $30 was a lot of money - and the difference it made in my life when the credit cards were paid off and I didn't have $30 a month going to credit cards in interest - plus the principal - all of a sudden I'd given myself a huge proportional raise.

 

[Doodlebug939]

I am not a friend of credit card debt-I have been paying off as much as I can each month. OP check out the Debt Dumpers Forum on here as it is very motivating and encouraging. I still have a way to go but I have had much success this year.

In addition the title of your post is deciding to adding it all to a credit card or not. But I get the impression that your goal is to pay what you can then charge the remainder. I would sit down and plan it out really looking at what is important to you and your family. Is it essential to stay on site or is a cheap hotel out in town ok with free breakfast? To be honest I love staying onsite when I can afford it but my kids are fine if there is a pool and has indoor corridors.

I love Disney and have never been to Universal so we are doing a combined trip next year in November. Would I put the trip on a credit card? Well I have worked my butt off this summer to make some changes on my mindset so I would struggle to put the whole trip on a card.

What I would do is sit down with my child and decide what our plan of attack is. (Get them involved in the process as it is a teachable moment and having children on your savings team is important) I get out paper and write down all the expenses that I can think of and how I can break them down to pay as I go. Is it cheaper to drive or fly? Can I pick up some $10 gift cards for McDonalds to cover dinner one evening. (It is vacation so enjoy) I would do mypoints or what ever program that is out there that allows you to gain some money for nothing. I did it a few years ago (haven't had a trip in a few years to Florida) and was able to get some gas cards and food gift cards. It was not much (under 100) but its something that I didn't have to charge.

My point is that if you break it down then you would have a clear idea of what you need to pay for and what you would need to charge. So the total trip wouldn't be paid for on a credit card but only a partial if needed. Holidays/Birthdays I would get gift cards or shirts that can be used for the trip. My kids are not big on "stuff" at Disney so we usually just do a small gift card so they can pick something special while they are there.

A vacation is possible but you have to play around with it and see what you can afford to pay for and afford to charge if needed. I think if you decide on a thrifty trip it might be cheaper and more affordable than you think. I would rather Hotwire hotels, eat cheap, have hotel breakfast, and reduce the days at Disney day, focus on Universal for two days, and hit a water park than to charge a big trip. My kids don't care about high priced meals and are fine with sharing meals because it is hot in summer and no one wants to walk around being stuffed. On the way back to the hotel hit up a cheap pizza place and lounge at the pool at the hotel. It doesn't have to cost a lot to make memories.

I try to cut out some of the extras at home like reducing eating out a little or using coupons and put that money away. It may be $10 here or $20 there but over time it does add up. Many people use that money and buy gift cards at the grocery store to receive fuel points which reduces the cost of gas. It all adds up and every bit can be used on the trip and not charged. Work a plan up and decide for yourself what is doable.

Best of luck!

 

[manning]

I know it is difficult for some, financially, to live below your means but it pays off in later life. As I've passed my 60s I've realized why

When I was young I spent what I earned. Much of it foolishly. I was lucky that several older family members were able to convince me to save a little and spend a little. In other words strike a balance.

If you are lucky, and a vast majority will, you will get old. And with getting old your body begins to slow down and your medical expenses go up. If you don't think so remember your youth when you said "I don't need medical care, heck I don't even have to go to see a doctor"

When you get old going to the doctor becomes a social event.

When you get older you begin to lose the ability to earn a good salary. You get the hints it's time to retire. With retirement is living on a fixed income and savings.

Let me tell you if you want a comfortable retirement, and I don't mean lavish, you better have savings. The days of fixed pensions are disappearing.

With all that I guess what I am trying to say is strike a balance. Live a comfortable life but try to provide the means for a comfortable old age life. You can't depend on your children. Some won't care about you and some will be struggling with their lives.

In the end the choice is yours.

 

[lauradis]

Best money advice I ever got was only finance 3 things in life
1. House
2. education
3. pay you self aka retirement

Everything else is a want and get off you *** and earn more if you want more.

Op that was the advice given to me by my grandfather.

He is 86 and worked hard his whole life sometimes with couple extra jobs to get what he wanted.

My question to you is do you want to work harder now or later?

 

[Minnie_me]

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!)

 

[patsal]

I would save like a crazy person, and maybe get a second part time job, but I would only put on my CC what I could pay off at the end of each month. Vacations are nice but they are not a necessity and I could never relax thinking about the debt I was carrying if I charged a vacation.

 

[patsal]

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!)

Oh if you are a teacher in NYS you have additional earning opportunities available as well, maybe home instruction a few times a week, any inservice that is paid after hours, coaching... It is possible if done correctly to earn an additional $10,000 per year if you are able to scoop up everything that is available!
Good luck!

 

[Minnie_me]

Oh if you are a teacher in NYS you have additional earning opportunities available as well, maybe home instruction a few times a week, any inservice that is paid after hours, coaching... It is possible if done correctly to earn an additional $10,000 per year if you are able to scoop up everything that is available!
Good luck!

I wish!!! I teach the youngest kids, and although I've put my name out there as a tutor, I've never been hired. I guess the little kids don't need it that much, and the older kids' parents don't want to hire a pre-K/Kdg teacher to tutor their 4th grader.

Also, coaching is a closely coveted extra in our district that is dominated by a few very talented people. I am no athlete, and couldn't coach a sport even if I wanted to.

I do take advantage of all inservice opportunities, but the pay is nominal, and just spread out among our paychecks so that you hardly notice it.

 

[ZoeBell]

I'm a single mom, and a rural county schoolteacher. I've managed to save enough during each school year since my divorce, to take my daughters on small trips each summer (NYC, 1000 Islands, Hershey Park, Niagara Falls, etc.).

My older daughter is going to graduate in 2015. She absolutely loves Harry Potter, and wants to go to Universal Studios so badly. We all went to Disney in 2007, and if we went to Universal, we would definitely tie in a few days at Disney.

But here's the problem -- I don't have the money!

I couldn't even save that much by next summer. I don't want to wait until the year she graduates, because we will be busy getting ready for college. So, it's Summer of 2014, or not at all.

So here's the question: do I bite the bullet and put it all on my VISA? I have a Visa with my credit union with a low interest rate. I rarely use it. I have no other credit card debt (except for a few department store cards, all with balances less than $500, and most are at zero).

Obviously, I would save as much as I can between now and then. DD is willing to give up her Senior Trip to Disney (since she really doesn't like the kids in her class, and would rather go with us).

What would you do??

Do you belong to a credit union? How about seeing if you can get a low interest loan from them and paying it off that way?