what would you do?

[Ericandjenng]

As much as it's great to pay off cc(s), why not use half to pay down the debt and try to increase your payment $25 per month so that you get to do both. I am turning 40 this year too and it only happens once--you need to celebrate on your bday and not wait.

Also there are alot of threads on here with suggestions for extra money. Think about selling old jewelry, having a yard sale, some online surveys pay, mystery shopper--there's a thread specifically about this!...is there one thing you & your dh can forgo for 6 months like eating out, brown-bagging lunch,etc and put that money aside?

There are also ways to do Disney cheaper--rent DVC points, pin codes, taking breakfast foods to eat in the room...they ought to be coming out with the fall special offers soon (if they haven't already--I don't pay alot of attention to the offers anymore)

Good Luck & Happy Upcoming 40th!!!

 

[JamesMom]

I would take a more moderate approach.

You have $7000 in debt.
You have $6000 in extra income (bonus & tax return)

How long would it take you to save up $4,000? ($1,000 for debt & $3,000 for the trip). If the answer is nine months or so - Go live it up.

You can put the $200 down payment down now when you book
Pay off as much as you can in debt saving out the amount needed for the trip.
And pay the balance in September at 45 days out. Thats 5 months of savings right there.
Keep hacking away at the debt for the next four months or so until paid.
There, don't you feel better.


The cost in interest is minimal and you only celebrate your 40th once a lifetime.

And for the "debt police" - she only moving up the timeline by six months. She's not selling her soul. Relax a bit.

 

[disykat]

And for the "debt police" - she only moving up the timeline by six months. She's not selling her soul. Relax a bit.

If you get offended because others answer a question that was asked, THAT is definitely a time to relax!

I also would postpone the trip a bit. A little bit of waiting and WDW will still be there and the debt won't!

 

[mrsklamc]

"dead by next spring" hilarious!!!

It's really not that hilarious. I totally used to be one of the 'debt police.' Within the last 6 months I was diagnosed with cancer and my stepfather was killed in a murder-suicide.

Now, thanks to God, health insurance, and Dave Ramsey, we are debt free....but even if we weren't I think we'd be a little more likely to live for today.

Although I still don't think paying off the debt and putting off the trip have to be mutually exclusive- there's time between now and then.

 

[Pastamom]

I believe on all credit card statements they now state how much you would pay in total on your bill if you pay the minimum or more. You will be amazed at how much you save if you pay off the CC bill early. Think of all that money you'll have to enjoy WDW.

Good Luck

 

[mommy2allyandaveri]

I think the majority of the opinions on here will be to pay off your debt then start saving for your trip. But, you probably knew that when you posted. Maybe you just needed someone else to tell you to do the responsible thing I know I do that sometimes.

Just think how much more you will enjoy that trip for your 41st b-day knowing you have no debt

 

[mumom95]

I am not a debt person. I pay my credit cards off every month and only carry a balance when I have 0% interest.

But, I'm going against the majority here and say you should go on your trip. Yeah, Disney will be there for a long time, but you only turn 40 once. And it sounds like going on your 40th has been something you've always wanted to do. I think waiting until your 41 will knock a little of the excitement out of it. I will be 40 in 3 years and I want my husband to throw me a big party. Frankly, if he waits till I'm 41 it just won't be the same.

I don't know how long you have had the current $7000 in debt. But you should have an indication of how you deal with having that kind of debt. If it is something that doesn't bother you and you know you'll have a great time on your trip, then I say go. If having the debt will bother you and make you feel like you have to penny pinch on the trip, then don't go.

There's no doubt what the responsible thing to do in this situation is. But you know what I've learned, you can't always be responsible. I'm not even sure if I would say you should always be responsible. Sometimes, you just have to do something you really want to do. You just have to be prepared to live with the consequences of your actions.

Good luck with your decision.

 

[Pumbaa_]

I would pay off half the debt and take a budget trip to Disney.

Life is short, this is a milestone and every so often need to indulge.

 

[Mom2Ben02]

I agree with Pumbaa...

 

[Aristomommy]

Pay off the debt. Your APR could be raised sky high and your payments could go up at any moment. Also the accounts could be closed and your credit score will tank as a result. Make plans to save up for a trip and you will have plenty of time to plan and enjoy the trip.

 

[marlynnp]

First of all, it may take one person a few months to pay off $7,000 and another a few years. So it's hard to judge.

I would take the $2,300 tax refund and put the entire amount on the highest card(s). Then I'd continue making payments at the same total as I have been - so if I was paying a $1,000 on one or more in total per month I'd continure rather than lowering the amount just because I paid off a large chunk of the principal.

If your husband gets the bonus in June take the birthday trip!

And talk to him now and come to an agreement about what you'd like to do.

 

[eeyoregirl1970]

so many wonderful responses! I definately have a lot to think about. I think once the refund sets in and the numbers go down, i'll get a better feel. We haven't been in debt like this for that long. only a few years. We were shocked a few years back with over $6000 in OWED taxes, can't even remember what happened, but we never recovered. We had expected a refund like the year before, booked a trip to WDW and whammo... owed taxes... long story short it makes me skiddish, but I've been dreaming of going back on my b-day so I'm keeping everyone's advice in mind before I make that decision. I haven't mentioned it to DH because he is such a sweetheart he would stress himself out trying to figure out how to make it happen, so before I do that i want to be sure myself if that is what I want to do.

thanks again everyone!!! DisBoards are the BESTEST!!!!!

 

[disykat]

I think waiting until your 41 will knock a little of the excitement out of it. I will be 40 in 3 years and I want my husband to throw me a big party. Frankly, if he waits till I'm 41 it just won't be the same.

In the OP's scenario, paying off the debt would not mean waiting until 41. She would simply go on a date that is 6 months or so after her birthday - still in her 40'th year.

 

[DVCBELLE]

Pay off your debt - apply for a Disney Credit card and take advantage of the 6 month 0% financing that you can then pay off next spring!!! There are $100 rewards right now - so that would be an added bonus!

Best of Both Worlds!!!

 

[mumom95]

In the OP's scenario, paying off the debt would not mean waiting until 41. She would simply go on a date that is 6 months or so after her birthday - still in her 40'th year.

Yeah, but that's kind of like saying it would be the same to wait until June to celebrate Christmas. I personally would just have a hard time getting into the holiday spirit when I know it isn't actually the holiday.

But everyone is different, so people should do what is best for them.

 

[EllenFrasier]

If I had $7,000 in credit card debt there is no way I'd even be thinking about vacation!!! Even an overnight at a local hotel. Heck I probably wouldn't be sleeping well at night.

Pay off the credit card and if there is any left over put it in the bank so you don't get $7,000 on your card again. This shouldn't even be a second thought as to what to do with it.

Seriously? So you'd stop living until you paid off the debt? Life is short.

OP - If you think you can wait, and you will have the resources to pay off the debt and not let it pile up again, then pay it off first. Oh, and Happy Birthday!

 

[CrzyforPiglet]

Hi there OP! It definitely sounds like you have a good head on your shoulders and I so wish I could say yes go for it but I'm with I think the majority and say pay of the debt first. Especially since your DHs bonus isn't guaranteed plus don't forget that Uncle Sam will take a chunk of that first before it hits your hands so $3,500 may really be $2,500. Even if it was the full $3,500 I'd still say pay off your debt, start saving for a trip, and really live it up on your 40th b-day trip. Just think of how great it would feel to take the trip and not be afraid of opening the CC statement afterwards. Good luck - I'm turning 40 this year too so happy early birthday!

 

[gracie1]

Take the trip. I did and I have debt and I don't regret it a bit, but that's just my opinion!

 

[disykat]

Yeah, but that's kind of like saying it would be the same to wait until June to celebrate Christmas. I personally would just have a hard time getting into the holiday spirit when I know it isn't actually the holiday.
.

Does Disney decorate for her birthday? I don't see that as the same at all! I guess to me a birthday is just another day for most of the world - you are the only person who cares or remembers what day it was.

By my signature you can see I took a 10th anniversary trip in the summer when I was married in the winter. (And that WAS a big difference due to not being decorated for Christmas!) It didn't spoil it at all. I simply did what was best for my family due to scheduling conflicts. I would have made the same choice if financial reasons led me to change the date.

 

[michelle06]

What a great incentive LOL... Disney Cake! Everyone just confirmed what I was thinking and what I know... I guess I was hoping that crazy had company out there hahaha...

thanks everyone for reminding me to be sensible and THEN have fun.

Well, if it's any comfort, I do know one of those crazy people! She does it all the time! Disney is her thing, even when the car could be repossessed!