Post # 1
Here’s the deal; SO and I are waiting to get engaged when we can afford a home. I have about 10K saved up, and he has about 7K. We both have jobs, but not full time as we are in school. He can possibly turn his current job into a full time position this summer if there is an opening in a nearby office. However, he doesn’t know if this is what he plans to do yet as he doesn’t particularly like it there and is actually pursuing his degree in a different, more lucrative (yet also more competitive) field. We never really go anywhere – our major vacation thus far has been Ocean City for two nights/three days which was a whopping $200-300 if that. I’d love to go out of the country, perhaps a European excursion or an all-inclusive resort off of a deal site. SO thinks we should continue to save.
Realistically, I won’t be able to get a full time job until a year from now and he may or may not get one this summer. Basically, if we have to keep waiting either way, why not have a little fun for once? Or is it better to save the 2-3K for our eventual down payment/closing costs?
What are your thoughts??
Post # 3
It’s really up to you to determine what is most important to you. I personally would save it because being a homeowner is what I want more than anything, and we are saving up for that, but if you’re willing to wait the extra time it may take you to re-save that money before you get engaged/buy a house, then go for it.
ETA: I have been to Europe several times, and just airfare alone is going to cost you two $2K-$3K. You should do some more research on how much you would actually spend if you got to do everything you wanted to do to get a firm number, then make the decision from there.
Post # 4
You can’t go to Europe for $2-3k, so that’s out ($5-6k minimum with airfare, more if you want to be more comfortable). That budget is more of an all-inclusives in the Caribbean budget.
What is your target savings amount for a home and closing costs? If that $2-3 k is a significant chunk and you’ll be fairly close, I say save it and wait. Or save it and put more $$ with it to go someplace like Europe instead of the Caribbean.
Post # 5
It really depends on your order of priorities. You have said that a house is higher on the list than engagement. So does vacation fall higher than the house? Because once you get the house, you will have to save more to pay for a ring. So it pushes both things out to take an expensive vacation now. Maybe find a cheaper vacation and then save up for a big Eurpoean honeymoon?
vacation > house > engagement?
house > engagement > vacation?
Post # 6
Save it. You’ll be glad you did.
Post # 7
- Wedding: November 2011 - Florida Aquarium
I’ll disagree with the PPs…
I think it’s okay to treat yourselves. You’ve done an awesome job saving so far, and one trip will not completely bust your savings. If you’re okay with saving for an extra month or two, then go for it.
It’s my firm belief that you have to enjoy your life. We all need goals, but need to enjoy the trip getting there, too!
Post # 8
@crayfish: Agreed. We are planning a trip and have airfare covered and are still going to spend over $6k for 3 weeks with pet sitting.
I would think about if you would be able to even get a loan in right away. You usually have to have a few months to a year working at the same company for them to take you seriously.
Post # 9
Buying a home as soon as possible and starting to pay it off as quickly as you can would be my priority. It’s the best way to gain security for the future. The sooner you’re a home owner, the better!
You could always go on a more affordable trip for now. Your little sacrifice now will pay off in the future when you’ll be able to take many awesome overseas vacations because you’re so financially secure. You’d be surprised how much “just” 2k-3k can make a difference.
Post # 10
@Simba-Leigh: off season you absolutely can go backpacking in europe for 2-3 k
Post # 11
For us, our priority is buying a home. We have had to put off our honeymoon until probably our 1st year anniversary, because we’re saving so much for a house. It will be very much worth it though when we move into our first place this fall! 🙂
Post # 12
- Wedding: August 2013 - Rocky Mountains USA
@Simba-Leigh: I would do both – you don’t need to spend $2-3k for a fun vacation. You can get cheap plane tickets to Puerto Rico or Cancun occasionally – I’ve flown to both for under $300. If you stay at a cheaper locally-owned motel or hostel and eat at local eateries, it’s way less expensive than a resort. You also get some actual cultural experience.
Post # 13
compromise – go to a homestay/hostel/small hotel in a non touristy area of a less expensive country. go on off season or don’t do all inclusive, etc. maybe go 5 nights instead of 7, there are lots of ways to save and still have a sweet vacation!
Post # 14
Like PPs have said, $2K-$3K wont get you a European vacation. We spent 3 times that amount for an all inclusive in the Carribean.
I voted save it, but I think you can plan some type of vacation. There are lots of great places in the US that you could visit for a few days and splurge a bit.
Post # 15
I’d keep saving and go on a vacation together that’s cheaper. Or if you want to see other countries, have you ever looked into work abroad programs?
Post # 16
Personally, since you said you won’t get engaged until you can afford a home I would keep saving. I would want to get engaged ASAP. Then you can take a engagement celebration trip to Europe 🙂