Post # 32
I would say consider taking the vacation, as long as you aren’t going over your $2-$3K budget. You can also get cheap flights to Costa Rica and Mexico, as others have mentioned. Since you’re both in school, I assume you’re fairly young (21-22?)…I don’t necessarily see a huge rush to get a house/engaged. You have plenty of time for that. So I would take the trip even if it took you an extra few months to re-gain that money. I think you’re young enough it won’t matter, so I would take the opportunity to travel a little.
If you were older and needed a house ASAP I would say continue to save.
Post # 33
@Simba-Leigh: I def say down payment. Having an extra $3,000 to put down on the house saves a lot in interest over the years. Your “$3,000” vacation could wind up costing you $5,000 if you factor in the extra interest you’ll pay because you have $3,000 less to put down on the house. If your rate is higher than 4%, the interest would be even more than $2,000 extra.
Post # 34
@Simba-Leigh: If you’re thinking Europe I’d plan to spend a little more than 2-3000. We went for 3 weeks s and spent close to $12,000, and definitely weren’t super extravagant. $3000 was just air fare and in major European cities 200/night for a hotel doesn’t really go that far.
But I’d still take a vacation, but maybe one that’s actually in the $3-4000 range. Once you start working full time, you’ll have the money, but not the time to go somewhere, and once you have a house it’ll always seem like you should be saving money for that.
Post # 35
@Simba-Leigh: i say go on a nice cruise ; ) you wont spend alot we got ours for $800.00 for 5 beautiful days it was wonderful. i think you need to get away together you both from what it sounds have saved enough and have been working hard its time to play a lil ; ) God never promised us tomorrow enjoy your selves with a lil get away but dont spent alot its a win win that way. our cruise cost us with spending money that we really did not have to spend i spent about 500.00 FH is a lil frugal lol he spent about $400.00 but we did not have to spend a dime everything on the ship in included except drinks and i love my frozen drinks and i spent on the islands but i was being extravagant with my spending we would have been fine bringing $500.00 for the both of us. were going on a 7 day for our honeymoon and were going to bring a grand for the both of us.
Post # 36
I would go on a less expensive vacation where you can still have a ton of fun but it wouldn’t cost as much as Europe, maybe an all inclusive resort or cruise. However I wouldn’t spend more than 4k (Europe is WAY more than that!). That way you both get what you want, keep saving but take a great vacation that isn’t going to break the bank! And your house fund will stay mostly in tact!
Post # 37
Thanks for the insights, I think our best bet will be a Carribean trip or Mexico perhaps. If we can get an all-inclusive place for less than 2k I think we will be able to re-coup the money in about 2 or 3 months hopefully!