You have to save for a 3 thousand dollar vacation, right?

[mefordis]

I thought the same thing because I live in NJ and it is really high for car insurance here. They probably don't pay nearly as much.

NJ is very expensive for most things (housing, property tax) but auto insurance is pretty average. We pay $1050 per year for two cars, two people insured.

The 10 states a study determined as having the highest annual auto insurance rates are:

Louisiana: $2,536
Oklahoma: $2,047
Michigan: $2,013
West Virginia: $2,002
Washington, D.C.: $1,866
Montana: $1,856
Rhode Island: $1,830
Wyoming: $1,732
California: $1,709
Georgia: $1,694

 

[Darcy03231]

While I agree with your point about priorities, I don't think your situation is really the norm for your income. If I'm reading correctly and you are saying your household makes less than 100k (or right around it) there has to be more going on for you to have all that stuff without any payments, especially in Massachusetts.

Nope. DH and I are both on the older end of the working spectrum. When we bought our primary home we spent way less that what we could afford and aggressively paid it down. We used the equity in our first home to purchase our vacation home outright (which will become our retirement home). Our primary home will be paid off within the next three years.

All of the cars were bought with cash. We literally drive them until they die. I owned one car for 18 years (I now drive the 2009) before it got to the point that it wasn't worth fixing. Four of the seven cars are being driven by our children who are in college - - 3 will graduate this year and then we'll sign the cars over the them. They contribute toward the insurance on the cars they drive.

Like I said, my home runs on a budget. If you're willing to give up/do without a lot, you can save a lot.

DH and I both take our lunches to work every day and make coffee at home. We rarely eat out and when we do, we tend to get take-out (no drink or tip). We buy things second hand. We don't own smart phones. We don't buy the latest electronics. No i-anything. I cook from scratch, which saves quite a bit on the grocery bill. For entertainment we do things at home - play cards, board games, rent dvds from Redbox, or we go to the library for free things at are going on there.

I do make some extra money by selling thing on e-bay, but not a lot (usually less than $1000/yr) and will occasionally pick up some overtime at work (again usually less than $1000/yr), but that isn't money that we count on.

 

[sunshinehighway]

Nope. DH and I are both on the older end of the working spectrum. When we bought our primary home we spent way less that what we could afford and aggressively paid it down. We used the equity in our first home to purchase our vacation home outright (which will become our retirement home). Our primary home will be paid off within the next three years.

All of the cars were bought with cash. We literally drive them until they die. I owned one car for 18 years (I now drive the 2009) before it got to the point that it wasn't worth fixing. Four of the seven cars are being driven by our children who are in college - - 3 will graduate this year and then we'll sign the cars over the them. They contribute toward the insurance on the cars they drive.

Like I said, my home runs on a budget. If you're willing to give up/do without a lot, you can save a lot.

DH and I both take our lunches to work every day and make coffee at home. We rarely eat out and when we do, we tend to get take-out (no drink or tip). We buy things second hand. We don't own smart phones. We don't buy the latest electronics. No i-anything. I cook from scratch, which saves quite a bit on the grocery bill. For entertainment we do things at home - play cards, board games, rent dvds from Redbox, or we go to the library for free things at are going on there.

I do make some extra money by selling thing on e-bay, but not a lot (usually less than $1000/yr) and will occasionally pick up some overtime at work (again usually less than $1000/yr), but that isn't money that we count on.

You are an older couple who bought your home years ago . You can't compare that to someone younger who is in a totally different place in life than you.
There was likely some luck in the timing of your house purchase which allowed you to later have the equity to buy that second home.
There are definitely other factors in your situation.

 

[mrsklamc]

You are an older couple who bought your home years ago . You can't compare that to someone younger who is in a totally different place in life than you.
There was likely some luck in the timing of your house purchase which allowed you to later have the equity to buy that second home.
There are definitely other factors in your situation.

Well, we never specified what age we were discussing and there are "other factors" in everyone's situation.

 

[sunshinehighway]

Well, we never specified what age we were discussing and there are "other factors" in everyone's situation.

When someone comes and posts how they have x, y and z because they budget and live a certain way, it just comes off as preachy and rubs me the wrong way. It's wonderful for that poster that she has all those things and is happy with her budget but it's unrealistic for many, especially people that started out at a later time. The idea that in 2013 you can buy 7 cars and a second home with no loans by cutting back on cellphone bills and movies is ridiculous.

 

[mrsklamc]

When someone comes and posts how they have x, y and z because they budget and live a certain way, it just comes off as preachy and rubs me the wrong way. It's wonderful for that poster that she has all those things and is happy with her budget but it's unrealistic for many, especially people that started out at a later time. The idea that in 2013 you can buy 7 cars and a second home with no loans by cutting back on cellphone bills and movies is ridiculous.

No but if someone starts out doing it now, in ten, fifteen, twenty, twenty five years, it's entirely possible.

 

[LiamandMaeve]

NJ must be paying a ton more for all their teachers, social workers, police officers, and all the other state government employees. I'm a social worker and I will NEVER make anywhere near $100,000. I don't even make half that.

Maybe in North Jersey...not South. In my husband's district, you have to teach 14 years before you crack 50k. But then again they are in one of the lowest paying districts in the state.

 

[sunshinehighway]

No but if someone starts out doing it now, in ten, fifteen, twenty, twenty five years, it's entirely possible.

Sure in 15-25 years if they get a little luck thrown in (by that I mean ask someone who bought their house 10 -15 years ago if they have the equity to buy a second home).

 

[luvmy3]

Hey all,

So years ago we went to Disney on a 7 day junket with the no expiry tickets and stayed in Moderate, then we had enough days left for Spring Break trip the next year in an off site hotel. The first trip with all the expense I conned my Mom into paying for. The second I paid for myself but no park tickets. The first was an easy 5k if I remember right.


But, two things dawn on me. I have an aunt who supposedly I am the heir to in her will. Her estate will be in the 300k range after tax and such, probably. Lets say that money comes to me next year. Next year my net worth is +300k. I'd probably pay off the house with that, I mean I'm paying 4% already for an asset that IS appreciating again finally. So I'd pay that off and then bam there's 13 hundred a month that I'm banking all of a sudden.

I think your aunt better be careful when she comes over for dinner

 

[dawnball]

Sure in 15-25 years if they get a little luck thrown in (by that I mean ask someone who bought their house 10 -15 years ago if they have the equity to buy a second home).

There were plenty of us who looked at the market 10-15 years ago and said "Well, -that- would be stupid." I don't consider that luck. Nor do I consider it luck to buy a house that you can pay off in 15-20 years instead of 30-40.

Yes, every life has different amounts of luck, skill, talent and opportunity. But every life can also have a better outcome if you make choices with future goals in mind.

 

[hsmamato2]

When someone comes and posts how they have x, y and z because they budget and live a certain way, it just comes off as preachy and rubs me the wrong way. It's wonderful for that poster that she has all those things and is happy with her budget but it's unrealistic for many, especially people that started out at a later time. The idea that in 2013 you can buy 7 cars and a second home with no loans by cutting back on cellphone bills and movies is ridiculous.

Wow... What rubs me the wrong way is when people read another persons' story,and get all upset b/c the pp might have a successful plan in place...they were just sharing their own experience...lighten up! And yes,it is completely do-able to start out making smart budget decisions,and stay on that track....I don't consider myself "older" but everyone has a personal story,and how they got wherever they are..... Yes,indeed many people can and do budget this way,and they can and do use that "unspent" income on other things,like vacations,etc. Is it luck, happenstance,or smart decision making? Probably some of each....ANd to label a pp as 'preachy' for sharing what worked for them is just....a little too reactive.
Just sayin'...
FWIW, I have read a lot of replies here,and I still don't know exactly WHAT the original question was

 

[sunshinehighway]

There were plenty of us who looked at the market 10-15 years ago and said "Well, -that- would be stupid." I don't consider that luck. Nor do I consider it luck to buy a house that you can pay off in 15-20 years instead of 30-40.

Yes, every life has different amounts of luck, skill, talent and opportunity. But every life can also have a better outcome if you make choices with future goals in mind.

That's all fine but to say that you bought 2 houses and 7 cars because you don't have a smartphone or never eat out is not really true.
What does any of that have to do with paying for a vacation anyways?

 

[Darcy03231]

When someone comes and posts how they have x, y and z because they budget and live a certain way, it just comes off as preachy and rubs me the wrong way. It's wonderful for that poster that she has all those things and is happy with her budget but it's unrealistic for many, especially people that started out at a later time. The idea that in 2013 you can buy 7 cars and a second home with no loans by cutting back on cellphone bills and movies is ridiculous.

Sure in 15-25 years if they get a little luck thrown in (by that I mean ask someone who bought their house 10 -15 years ago if they have the equity to buy a second home).

You are an older couple who bought your home years ago . You can't compare that to someone younger who is in a totally different place in life than you.
There was likely some luck in the timing of your house purchase which allowed you to later have the equity to buy that second home.
There are definitely other factors in your situation.

The OP's question was "you have to save for a $3,000 vacation, right?" and then went on to assume that everyone has 2 car payments, a camper payment, storage fees, cellphone/cable/internet, and junk bills.

I was pointing out that yes, most people (including me) save for a vacation and not everyone has all the bills she does. We have those things because we've saved for them. It's about choices. The OP wanted a camper so she bought one on credit, rather than saving the money until she could pay with cash. There's nothing wrong with that, but its a choice she made that eats into her cash flow. She's now bemoaning the fact that she doesn't have money for a vacation she wants to take and is waiting for a relative to die so she can inherit money to make her life easier.

I'm sorry you were taking what I wrote as preachy, but that wasn't my intent. I was trying to point out that if you add up eating out, movies, getting coffee/lunch out every day, have smart phones, premium cable channels, etc. you're spending a good amount that could be saved, if you choose to do it. There's nothing wrong with spending money that way if that's what you want to do, we just don't so we can save it for other things - - like vacations.

If you want to compare to when we were younger, no we didn't have 7 cars or a vacation home, but we also still didn't have 2 car payments, a camper payment, storage fees and "junk bills."

 

[sunshinehighway]

Wow... What rubs me the wrong way is when people read another persons' story,and get all upset b/c the pp might have a successful plan in place...they were just sharing their own experience...lighten up! And yes,it is completely do-able to start out making smart budget decisions,and stay on that track....I don't consider myself "older" but everyone has a personal story,and how they got wherever they are..... Yes,indeed many people can and do budget this way,and they can and do use that "unspent" income on other things,like vacations,etc. Is it luck, happenstance,or smart decision making? Probably some of each....ANd to label a pp as 'preachy' for sharing what worked for them is just....a little too reactive.
Just sayin'...
FWIW, I have read a lot of replies here,and I still don't know exactly WHAT the original question was

The original question was about if other people save for vacations or just wait for relatives to die to their money, I think.
It's a gross question.

I'm not saying people don't budget or shouldn't budget but the original question was about budgeting for vacations not houses and cars.

 

[sunshinehighway]

The OP's question was "you have to save for a $3,000 vacation, right?" and then went on to assume that everyone has 2 car payments, a camper payment, storage fees, cellphone/cable/internet, and junk bills.

I was pointing out that yes, most people (including me) save for a vacation and not everyone has all the bills she does. We have those things because we've saved for them. It's about choices. The OP wanted a camper so she bought one on credit, rather than saving the money until she could pay with cash. There's nothing wrong with that, but its a choice she made that eats into her cash flow. She's now bemoaning the fact that she doesn't have money for a vacation she wants to take and is waiting for a relative to die so she can inherit money to make her life easier.

I'm sorry you were taking what I wrote as preachy, but that wasn't my intent. I was trying to point out that if you add up eating out, movies, getting coffee/lunch out every day, have smart phones, premium cable channels, etc. you're spending a good amount that could be saved, if you choose to do it. There's nothing wrong with spending money that way if that's what you want to do, we just don't so we can save it for other things - - like vacations.

If you want to compare to when we were younger, no we didn't have 7 cars or a vacation home, but we also still didn't have 2 car payments, a camper payment, storage fees and "junk bills."

Now I understand. Thank you. I do agree that people in general spend money on things they don't really need and then wonder why they don't have money for other things like vacations.

 

[mistysue]

Because I'm cheap day to day, if I decided right now to book a $3,000 vacation in a few months I wouldn't have any trouble setting that aside and doing so... I don't think I'm going to wait until people die to vacation... and if somebody did die I don't think I would consider it vacation money. If somebody leaves me money it is in case I need it. So it's my responsibility to then leave that, and whatever more, to my next generation as well in case they need it. I would rather save money and build something than know one of my kids might literally starve to death in old age because I didn't.

 

[hsmamato2]

The original question was about if other people save for vacations or just wait for relatives to die to their money, I think.
It's a gross question.

I'm not saying people don't budget or shouldn't budget but the original question was about budgeting for vacations not houses and cars.

got it..thanks! and it is a ...strange.... subject

 

[SamSam]

I agree with you. Dh and I decided years ago that family vacations were important...more important than up to date furniture, remodeling, fantastic clothes, etc. We have had neighbors say to us "you are so lucky to be able to go on your trips every year". Being polite, we didn't say "if you hadn't just changed your carpet and kitchen cabinets for the second time in 4 years you might have been able to do this too".

Honestly, we do without a lot of normal daily spending (coffee, clothes, eating out, etc.) to afford our trips.

The OP's question was "you have to save for a $3,000 vacation, right?" and then went on to assume that everyone has 2 car payments, a camper payment, storage fees, cellphone/cable/internet, and junk bills.

I was pointing out that yes, most people (including me) save for a vacation and not everyone has all the bills she does. We have those things because we've saved for them. It's about choices. The OP wanted a camper so she bought one on credit, rather than saving the money until she could pay with cash. There's nothing wrong with that, but its a choice she made that eats into her cash flow. She's now bemoaning the fact that she doesn't have money for a vacation she wants to take and is waiting for a relative to die so she can inherit money to make her life easier.

I'm sorry you were taking what I wrote as preachy, but that wasn't my intent. I was trying to point out that if you add up eating out, movies, getting coffee/lunch out every day, have smart phones, premium cable channels, etc. you're spending a good amount that could be saved, if you choose to do it. There's nothing wrong with spending money that way if that's what you want to do, we just don't so we can save it for other things - - like vacations.

If you want to compare to when we were younger, no we didn't have 7 cars or a vacation home, but we also still didn't have 2 car payments, a camper payment, storage fees and "junk bills."

 

[Darcy03231]

I agree with you. Dh and I decided years ago that family vacations were important...more important than up to date furniture, remodeling, fantastic clothes, etc. We have had neighbors say to us "you are so lucky to be able to go on your trips every year". Being polite, we didn't say "if you hadn't just changed your carpet and kitchen cabinets for the second time in 4 years you might have been able to do this too".

Honestly, we do without a lot of normal daily spending (coffee, clothes, eating out, etc.) to afford our trips.

I don't know how many times I've had to bite my tongue when our neighbors comment on "all the trips you take, and with such a big family."

 

[MaleficentRN]

Speaking of the OP, he stirred up this pot and then disappeared?