WWYD - take a trip or not?!?

[DVCBELLE]

Two years ago my DH and I headed to Las Vegas for a business trip. Right before we left - we realized (maybe admitted is a better word) that we were in horrible financial shape. Credit Cards, car loans, no savings etc....so we spent NOTHING on the trip. We also were snowed in and ended up there two days later than expected - needless to say my first trip to Vegas was a BUST! But on that trip we talked about our finances and decided that we would make a plan and once we were back on our feet financially - we would take another trip to Vegas this time doing it right!!

We started following Dave Ramsey and fast forward to yesterday...I paid off DVC - and by April we will have his student loan paid off - we have 3 months of salary saved and an extra $1000 emergency fund, no credit card debt or car loans...the only "debt" we have left is our house!!!

So my DH says to me after I made our DVC payment - go plan your trip...

AND YOU KNOW WHAT - that woman who couldn't wait to get back to Vegas 2 years ago is now so financially responsible that I can't plan the trip...DH doesn't LOVE Vegas and I would feel guilty gambling our money.

BUT - this is what we had decided to do as our reward! We talked about maybe a 3 day cruise instead. But I just can't seem to bring myself to make a plan. I guess that means I truly changed in the last two years! Which is a great thing but now I am sitting wondering if I should plan the trip or not.

 

[pilesoflaundry]

Plan something. All that saving and planning and debt paying is wonderful, you have an emergency fund too. Go somewhere. Maybe not vegas, maybe vegas but do something. Enjoy yourselves.

There is a lot to do in vegas that isn't gambling, the shows and stuff. Have fun

 

[Justsyd2]

Congratulations on all of your hard work! That's a great achievement. I personally feel that you deserve some type of reward for your dedication and responsibility, but it's completely your decision. My DH and I did the same. We decided what was important to us, created a plan, worked the plan, and we reward ourselves with trips, this year it's a cruise and Disneyland, last year it was WDW. Only you can decide what's best for you.

 

[gillenkl]

I agree that you should plan something - a 3 or so day trip that doesn't break the bank. Lots to do in Vegas besides gambling (I think that would be a waste of money). I believe that you've earned some fun and relaxation after all your hard work paying down debt.

 

[vegasnative]

Sounds like you stuck to your goal, and you achieved it, so congrats! Why don't you just reasearch how much the trip would cost. Either set that money aside (do you have an Ing account?) or start saving a certain monthly amount to reach the goal (the cost of the trip). You don't have to actually "book" it now, as it sounds as if you are unsure if you want to head back to Vegas or not. But this way, you will have the money set aside or on your way to saving for your next trip. Who knows, maybe you will have saved all the money you need and you two decide you would rather buy a hot tub or something like that. Does that make sense? I guess I'm saying to start saving for it, but don't book anything until you 1) have all the money for it set aside (and don't forget to add on 5% for unknowns and 2) decide where, if anywhere you really want to go. Worst case scenario if you decide not to go anywhere, you just saved up a few thousand bucks.

 

[CRdisMom]

i will reiterate what everyone else said...lots to do in Vegas besides gambling. Just got back last night and I think I dropped a GRAND TOTAL of $4.00 in the slots. I just couldn't justify giving it away. We went to the spa at Cesears--lovely!!! But also you know what you can do and we can just give you a nudge in a direction you may already be heading. I want to congratulate you on taking control of your finances. It is a HUGE undertaking.

 

[Indiana Rose Lee]

3 days in vegas can be very economical. Even with a budget for gambling. Hotels and food are really reasonable.

 

[DVCBELLE]

I THOUGHT my budget minded friends would talk me out of this - but seeing that you are all for it...I will start planning!

I have a couple of thoughts -

I LOVE LOVE LOVE Garth Brooks - so we could go see him in Vegas...

or

DH has a business trip to NYC the week before our birthdays - his airfare would be paid for and I could tag along - we could add on the weekend before and catch a Broadway play. The kids have been dying to go to NYC so they might not like that plan they get awfully mad when mom and dad go fun places without them!

or

We used to live in DC and our kids have never been there but they are dying to go - and we are dying to take them. I could plan a long weekend there for the 4 of us. I know not the romantic getaway but something we REALLY want to do!

or

my in-laws live near Tampa and have been begging us to come visit - we could go down and take a cruise out of Tampa and leave the kids with them for the weekend!

 

[DawnM]

Can't help you too much as we hate Vegas. We would go on business trips or to see visiting family when we lived in CA, but we really didn't like it. We don't gamble (and DR is against it as well) and I hate the smoke filled casinos.

But, the boys golf and swim and we like to walk around to the different hotels on the strip and see what we can see for free.

If you really want to go, see how much a trip would be.

Dawn

 

[PinballFamily]

Ok - I'll be the (slight!) cranky-pants!

First - major, major, major congrats on making such a HUGE life change! Awesome progress and good for you and your family.

But, given the economy, I'm not sure three months salary savings is enough to celebrate (yet). From what I've found/believe, to really (comparably) replace a primary wage-earner's job takes about 6-9 months now. This is way up from where it used to be. Are your retirement accounts well funded? Kids college fund(s)? The $1k emergency fund is great, but even a minor car repair will drain that sucker pretty quickly and it will need to be replenished.

You've got a great WDW trip showing on your ticker - that sounds marvelous - so do you NEED this other trip also? Maybe a modest celebration to pat yourselves on the back is in order, but I worry that despite not having other debt now other than your house (and soon to be paid-off student loan), you shouldn't splurge on an extra vacation now. IMHO, find a more modest way to pat yourself on the back and keep up the great work!

 

[DISdreamin']

Can't help you too much as we hate Vegas. We would go on business trips or to see visiting family when we lived in CA, but we really didn't like it. We don't gamble (and DR is against it as well) and I hate the smoke filled casinos.

My favorite parts of visiting Vegas were visiting Red Rock Canyon National Conservation Area and Valley of Fire State Park. The casinos, not so much. Still, I had a great time on the trips I took out there to visit my brother. We went to lots of gorgeous areas, I liked some of the casinos, and it was more than fun to people-watch! The smoke...not a big fan of it either, but it didn't bother me all that much.

 

[hrslvr142]

There is a pretty good sale going on now with airfare/rooms in Vegas, check out fatwallet.com for the details. A friend is going out at the end of March and staying at the Wynn and it works out that there room is only costing them $80 a night which is a steal for that property. I personally love Vegas so it wouldn't be hard to talk me into going but there is a lot to do other then gambling, we have gone horse back riding, hiking, shopping, lots of fun meals (not necessarily expensive) but the show I really want to see is the Cirque show with the Beatles music but I bet Garth would be incredible too. Have fun whatever you decide, great job on your bills. This is where I want to be next April.

 

[DISdreamin']

Ok - I'll be the (slight!) cranky-pants!
<snip>Maybe a modest celebration to pat yourselves on the back is in order, but I worry that despite not having other debt now other than your house (and soon to be paid-off student loan), you shouldn't splurge on an extra vacation now. IMHO, find a more modest way to pat yourself on the back and keep up the great work!

IMHO, I'd say go crazy on paying that off before doing anything. It lowers your monthly bills if something should happen to your job(s), and makes your emergency fund go that much further in case of an emergency.

As for having three months of income saved, IMO whether that is enough really depends very much on your jobs and what your monthly expenses are. If you're making $8K a month and your expenses are only $3K, then three months of salary will last you 8 months - or more if you go into survival mode. If your expenses are your income, then not so much.

 

[DVCBELLE]

Ok - I'll be the (slight!) cranky-pants!

First - major, major, major congrats on making such a HUGE life change! Awesome progress and good for you and your family.

But, given the economy, I'm not sure three months salary savings is enough to celebrate (yet). From what I've found/believe, to really (comparably) replace a primary wage-earner's job takes about 6-9 months now. This is way up from where it used to be. Are your retirement accounts well funded? Kids college fund(s)? The $1k emergency fund is great, but even a minor car repair will drain that sucker pretty quickly and it will need to be replenished.

You've got a great WDW trip showing on your ticker - that sounds marvelous - so do you NEED this other trip also? Maybe a modest celebration to pat yourselves on the back is in order, but I worry that despite not having other debt now other than your house (and soon to be paid-off student loan), you shouldn't splurge on an extra vacation now. IMHO, find a more modest way to pat yourself on the back and keep up the great work!

Trust me - That is the part of me that is holding back...fortunately that extra money sitting in the bank won't need to be touched. DH is in the position that the only way he would lose his job is if his business closes and it would take 2 years to close it and he would be the one turning the lights off....

We are in such great shape that we could pay the amount for the trip in one month. It's amazing how low you can reduce your bills when you get rid of CC, car loans and all that other stuff!

So it isn't really the money that is stopping me - it is the new frugal me...but then again - didn't we do all this so that we would be exactly where we are and if want to take a weekend away to reward ourselves - we would have the means to do it and not feel guilty?!!?!?

 

[DisneyBamaFan]

Life is for living...

 

[missenmickey]

I say go and do something, even if it is not Vegas. We are in the same situation with a trip to Disney. Financially we are O.K., but it is hard to part with money saved. I told my husband that all that saving is worth nothing if you are letting life pass you by. Enjoy your success and your family! I vote for a trip with your kids.

 

[Princess Disney Mom]

Two years ago my DH and I headed to Las Vegas for a business trip. Right before we left - we realized (maybe admitted is a better word) that we were in horrible financial shape. Credit Cards, car loans, no savings etc....so we spent NOTHING on the trip. We also were snowed in and ended up there two days later than expected - needless to say my first trip to Vegas was a BUST! But on that trip we talked about our finances and decided that we would make a plan and once we were back on our feet financially - we would take another trip to Vegas this time doing it right!!

We started following Dave Ramsey and fast forward to yesterday...I paid off DVC - and by April we will have his student loan paid off - we have 3 months of salary saved and an extra $1000 emergency fund, no credit card debt or car loans...the only "debt" we have left is our house!!!

So my DH says to me after I made our DVC payment - go plan your trip...

AND YOU KNOW WHAT - that woman who couldn't wait to get back to Vegas 2 years ago is now so financially responsible that I can't plan the trip...DH doesn't LOVE Vegas and I would feel guilty gambling our money.

BUT - this is what we had decided to do as our reward! We talked about maybe a 3 day cruise instead. But I just can't seem to bring myself to make a plan. I guess that means I truly changed in the last two years! Which is a great thing but now I am sitting wondering if I should plan the trip or not.

Congrats on getting your finances in order. You did a great job. Keep saving.
If you paid the DVC off, can you book a DVC vacation and not spend much money.

 

[nunzia]

Go have fun! The goal of paying stuff off is great, but remember, you are living like no one else so you can live like no one else. Plan a trip, pay cash and feel good about your accomplishments! Saving money isn't the end all..money is just a tool for living, and having nice times is important in the big picture.

 

[momejay]

I say do the Tampa thing & stick to a budget. Kids get away as well as adults!

I am having similar problems. I paid off the credit cards, ditched the cable, I had close to $2000 saved up for emergency & almost 4 months pay to cover necessities (just in case) Then a tree limb fell in the back yard. Smashing into the roof. We recovered from that repair (which included a washer & dryer) & the roof leaked. The guy came & repaired roof for no charge, but things in attic were damaged. (Christmas items, winter snow clothes...) Replaced damaged things & intended to cut down tree or at least cut it back with income tax return. Instead a snow storm caused another limb to fall breaking truck windshield. I am trying so hard not to dip into the 4 months of just in case money, but would love to get rid of that tree! I am hoping to save enough for a trip to WDW next year. We just had too many pitfalls this year.

 

[Crystal824]

I say take a trip. You deserve it. Yes, you could have a larger emergency fund or use the extra money to pay more towards your mortgage, but after skiming and saving to get where you are, you deserve a reward. Maybe do something a little more budget friendly, but I would do something.