Would like to go again, but have bills to pay....

[JodiR]

I am in the process of paying off some bills. They should be paid in 2 years. I want to go to Disney again. If this were you, would you also save for the trip while paying debt off? I don't really want to save for the trip once the debt is paid. That just prolongs the trip. Am I going about this the right way?

Thanks

 

[crisi]

No.

pay off the debt first. you pay interest on it, and probably more than you'll make if the money is in a savings account.

 

[mad4themouse]

That would depend on the nature of the debt.

Car loans and mortgages are the kind of debt that I can handle while saving for a vacation.

Credit card debt isn't. If you have a high-interest debt like that, it's better to postpone your WDW trips until you've paid it off. I am a big advocate for living below your means.

 

[cyndibelle]

i say....save for the trip..you only live once...and well....if your paying off your debt and saving for a trip...good for you....live life to the fullest....your never promised tomorrow!!!

 

[Doodlebug939]

I would just pay off the bills first before saving for the next trip. I know that it feels good to have a savings for the next trip and build the anticipation and excitement. It is a really good feeling. I know I have been there.

But I know the difference of how much BETTER it feels to be paying off the debt. I know that it can get you down a little knowing that you dont have a vacation in "active" planning. But it is just a little detour on the road. But I can tell you it is one that is going to make the journey soooo much better and your vacation so much better.

We are kind of doing the same thing. This year we are going on a trip to Disney with the extended family but next year we are working on the bills and paying the vehicle off.

I wish you the best. You can always save change and join reward progams to help with the later trip. A few years ago my husband and I saved change just because and not really for anything special. Well one day we got bored and decided to count our change. We had $645 in change and dollars. I couldnt believe it. We went to the bank and cashed it in. Then we went to Sears and paid off our $500 balance. (It had the highest %) Then we went out for dinner with the rest of it. It was the best dinner out that I have had in years because I was no longer a slave to Sears Credit.

 

[Disneycrazymom]

Could you do something extra to save for the trip? Like a small Sat. extra job, that would pay into a vacation account, while your "real" job pays down the debt. I would not add to credit card debt to vacation, it just costs too much in the end.

 

[JodiR]

Actually I took a seasonal job at Christmas so I have that money saved. I can pretty much have extra hours whenever I want at my regular job. Any garage sale or bonus money goes to the vacation. My goal is to have the debt paid off by April 2006, buy a bigger house and go on the trip before the summer of 2006. I really want to go before my oldest goes to high school. We don't want to go in the summer....heat and crowds. I don't feel right taking her out of high school for the trip. Along with my monthly debt payments I want to save $75 a month for the trip.

cyndibelle...those were my thoughts also. Life is too short. We need to go!

 

[cyndibelle]

you can do it.....if your making the money by doing extra stuff and you arent adding to your debt....go for it girl !!!!!!!!!!!!!....go go go !!!!!!!!!..... you got your mind set already you know it...you do what you gotta do....go for it...you can manage both...pay that debt..go to disney......have a great vacation before the girl goes into highschool...YOU CAN DO IT..YOU CAN DO IT...like i said...life is waayyyyyyyyyyyy too short....live your life....enjoy your family....enjoy family vacations....work a little extra here and there to make up some extra cashola....wooo hoooo....

 

[JodiR]

cyndibelle...your excitement really motivated me. Thanks for the post.

Thanks everyone for your thoughts. I am leaning one way..LOL (but then who could resist a trip to Disney). I know I can make this work.

 

[Jana49]

Life is too short to put on hold, so I am all for doing both - pay off the debt and save for Disney at the same time. Just don't charge your trip on a credit card!

We put any "extra" money into a savings for Dis. This includes rebate money, yard sale money, discount money, and every bit of our change, etc.

Go now before the kids get any older - you never know if they will refuse to go later, lol.

Jana

 

[autumnblue]

I'm also paying off some credit cards and saving for disney but I am not charging the disney trip. I transferred my balance to a 0% interest for one year card and by the time the year is up I'm sure i'll find another. I don't feel guilty putting away $150 towards disney, i can't deprive myself of all my fun just because I have a balance on a credit card.

Autumnblue

 

[Pembo]

JodiR - I don't think putting away $75 a month is bad! That really isn't that much money. We too are working on paying off debt.

Made the colossal mistake of going to WDW before we had the money. Charged most of the trip. We were getting money in the next couple months (tax refund, bonus check etc) so I charged the trip. NEVER AGAIN! Somehow in addition to the other misc charges on our accout we ended up $3000 in the hole! I got a home equity loan, paid off the cc, and now I'm working on paying off the loan.

But I too am putting a small amount away for our next WDW trip. There is something about saving, even a small amount, that makes you feel good in addition to paying off that debt.

 

[Jaklackus]

If you can pay your bills plus a little extra and save for Disney I say do it...as long as you don't add to the cards and won't use the cards on the trip. I'd love to pay off all of our debt first ....but our debt is from trying to support two households while DHs ex was a little lost in life. I know we should have let the electricity get shut off and the phone shut off and the heat shut off and DH should've gone for custody ...but at the time DH didn't want his son to suffer anymore than he was already, DH's ex was playing the guilt card as it was ..never mind taking her child support $$$ away. So when child support is over in 4 years we'll be able to pay everything off in 18 months and be back on track..but I'm not going without my vacations because of DH's ex( that only happened for one year..never again, I'll divorce him first..lol!))....she's taken too much of our time, energy and money all ready....life is too short as long as I pay with cash and the credit cards are fed a little extra every month....taking that little bit longer to pay off the debt and the interest is well worth my sanity.

 

[mrsboz]

I'd say go for it. Try to save for most or all of the trip and don't worry about the debt. It will be there when you get back as long as you don't add to it. My husbands parents are both gone and my father is gone. You just never know what will happen to who when and don't want to miss out on a lifetime of memories. We all work too hard. The debt will be gone someday and our kids will be grown. Don't wait too long but don't live too far beyond your means. Have fun.

 

[HaleyB]

We were in the same boat about 18 months ago. We paid off all our credit cards and then started to save for Disney. It was so easy to save after paying off the cards because the money we were putting each month into paying off the cards went towards Disney as soon as we were done. By paying off credit cards first you are saving for Disney, because you will pay less in interest. You will get to Disney faster this way.

 

[brandip22]

I am saving for Disney, too. I don't have debt other than the car notes and our house, though. What I am planning on doing is to save up enough to pay my first night's room. Then, I'll call and make the ressies w/disney. Then, each month I will call and pay a little on the room ressie. That way, I should have that paid off before we go! Plus, I am saving cash, too. I just have to make the ressies and start paying or I will spend the extra money and have nothing to show for it. If I were you, I would set a date and start planning. Just don't use those credit cards for anything! You may even close them but keep paying. Good luck!

 

[dizagain]

O.k. DH and I had no clue about money and totally messed up financially during the first five years of our marriage. We lived WAY over our means, and as I stayed home with girls when born, things got worse. We made the commitment to fix things and we have not used credit (except for car and house) AT ALL in over four years. HOWEVER, we are still paying debt from before that which is really SAD. Anyway, we took no vacations at all except for small ones to visit family until last year. I now work part/time as girls are older and DH has moved up in company. We have two more years on our debt program, but we decided last year to budget in Disney and it was the greatest thing we ever did. We realized we could do it and it was wonderful for the girls. We payed cash (we consider the "extra" paycheck in May strictly vacation money. This year we are going to Grand Canyon and on another small trip to Sea World. Next year.....DISNEY again!!

Could we use the "extra" paycheck and other cash we spend on vacation to cut into debt? Yes, but we have really learned from our mistakes, and we've been punished quite enough!!!!! Our family does deserve some fun. I am NOT reccommending credit card trips, though...only cash!!!

Good luck and remember to have fun...

 

[C.Ann]

Do both.. Continue to pay off your debt and save a little on the side for the Disney trip..

The FASTEST way for any budget to go bad is by allowing nothing for extras..

 

[cyndibelle]

Originally posted by C.Ann
Do both.. Continue to pay off your debt and save a little on the side for the Disney trip..

The FASTEST way for any budget to go bad is by allowing nothing for extras..

amen to that....

 

[LoveToDisney]

Although I hate to be in debt, I would have to say if you are committed to your plan to pay off your debt in two years and do not cheat on that commitment, nor get yourself into more debt, it would be wise to save for your next vacation at the same time because you will not be tempted to use credit to pay for that vacation and start the debt cycle all over again. Always be in a savings mode if you can...it will help you change your lifestyle and begin to live within your means. Once your debt is paid off, only use your credit cards when you can pay them off entirely each month when the bill comes--don't look at them as easy money, but as an accounting system that has a bill due each month. May you be granted great wisdom through the next two years as you deal with your debt and great excitement as you plan and save for your next Disney trip!!