Is my vacation spending/ budget too extravagent?

posted 3 years ago in The Lounge
  • poll: Is 13% of your income too much on vacations?
    Yes, curb it! : (14 votes)
    33 %
    No, you only live one. : (28 votes)
    65 %
    Other : (1 votes)
    2 %
  • Post # 3
    1793 posts
    Buzzing bee

    What do you mean by “saving a little”?  Are you saving each month more for vacations than you are for your future – retirement savings, emergency fund, regular savings account?  If you are funding all of those things at a robust rate then I say knock yourself out.  If you are going full steam ahead on vacay funds and not on the other, that wouldn’t work for me.

    Post # 4
    435 posts
    Helper bee
    • Wedding: November 2014

    @Berry-b.:  Travel as much as possible before kids is what they say. Not that you can’t travel when you have them…But it makes it much harder.

    Post # 5
    1690 posts
    Bumble bee
    • Wedding: June 2013

    I mean sure that’s a lot to spend on vacations, but it’s all relative. If you are able to pay your bills, don’t have debt and hopefully have a retirement plan in place, you should do whatever you want with your leftover money. At least for a little while. 

    We have a child, but we generally spend about $5000 per year on vacations…I don’t know what percentage of our income that is off the top of my head, but it’s less then 3-4% I think. Sometimes we spend more sometimes less, but we have a great retirement savings plan and we save for our sons education, we don’t have debt and we pay out bills on time. 


    Post # 6
    771 posts
    Busy bee
    • Wedding: October 2014

    @Berry-b.:  not at all, now is the time! We did cruises, islands, tons of road trips, followed our fave band around with girlfriends. Life is for living, tomorrow is not promised and you aren’t being reckless.

    Post # 7
    1248 posts
    Bumble bee
    • Wedding: April 2014

    I’ve never calculated what we spend on travel per year but the last few years we have done some big trips (Europe for a month, USA for 3 weeks, honeymoon will be soon and then we are doing 3-4 weeks in South America which will cost a lot) and have spent a fair bit of money on that. Doing some quick math I would say about 12% pa of our gross income (before tax) has been spent on these holidays. I think it’s worth it. We don’t plan on taking trips like this forever, we want to start TTC after South America so they will stop for quite a few years and we’ll stick with shorter/cheaper options that are closer to home. We are only young once, travel is very important to us, we earn a decent income, have little debt so why not. Everyone has stuff they splurge on – we don’t go for designer clothes or accessories or super fancy dinners out very often, or jewellery etc. This is our thing!

    Post # 10
    4043 posts
    Honey bee

    @Berry-b.:  Are you saving for retirement and at least 10% of your income toward general savings? Do you have 3-6 months worth of expenses in savings? If so, I wouldn’t worry too much. If you don’t, it may be time to re-evaulate your spending.

    Post # 11
    1902 posts
    Buzzing bee
    • Wedding: April 2012

    Everyone is entitled to a luxury.  My relatives back at home will spend their money buying new cars and things all of the time, but I don’t have any need for that.  I don’t think you can splurge in every aspect of your life, but if you love to travel you should indulge while you stlll have the freedom to do it.  DH and I are having a baby this year and are wishing that we had traveled more.

    Post # 12
    2878 posts
    Sugar bee

    I’m voting YOLO 😛 As long as you’re making your future a priority for your savings – not only vacations. 

    Post # 13
    10748 posts
    Sugar Beekeeper
    • Wedding: February 2014

    13% doesn’t sound bad at all. As long you can afford it and still save, go for it. You’re only young once. We like to take (at least) annual vacations too. 

    Post # 14
    774 posts
    Busy bee
    • Wedding: September 2014

    @Berry-b.:  The way I see it, people choose to spend their extra money in different ways. One challenge I’ve had as I’ve been spending more time around FI’s family is that I often feel very judged about where I choose to spend my extra cash (clothes, hair, nails, spa, jewelry) when they choose to spend it on travel and cars. As long as you are happy and comfortable with your decisions, it’s no one business! Plus if you are planning on having kids in the next few years, I’d travel all you can before. Not to say you can’t travel with children, but the dynamic will definitely be different. 

    Post # 15
    11379 posts
    Sugar Beekeeper
    • Wedding: April 2012

    @Berry-b.:  i think if you can comfortably afford it, it’s okay but like you said, in a few years you will be starting a family.  now is the time.

    our first year together, my dh and i spent about 12 weeks total travelling.  not all at once but throughout the year.  we still travel a bit but have settled down a lot.

    Post # 16
    8680 posts
    Bumble Beekeeper
    • Wedding: October 2014

    To me.. you are. But that’s because I’m super frugal and vacations just aren’t a priority for me. I’d much rather use that money for other things. But vacations might be a priority for you.. if you are still making your bills and have plenty to eat, I think that’s all that matters. Although, I would think about retirement if you aren’t already.

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