Money hemmorhage due to trips - wwyd?

[Anonymous]

we have a ton of expenses coming up this summer, mostly due to travel: dcs going abroad on a graduation trip (6k total, both got a lot of merit making college much cheaper than anticipated, so this is a gift for this as well), we are going abroad to see family (3k total), then we are also supposed to see dh's family a flight away (2k total). Just adding it up makes me want to throw up...But at the same time seeing family is important and I have a little nephew I rarely see. I just feel like maybe we should cancel the abroad trip for us (the 3k) and save that trip for another time since my parents are here now visiting. Wwyd? We have ample money (for us, not for DCUM) in savings, but at the same time these costs are more than we have ever spent over such a small period of time.

[Anonymous]

Mentally credit the $6k to the college account and relax.

[Anonymous]

I don’t understand why this is an issue if you have the money. It’s a budget question. You’ve told us nothing about your finances beyond the fact that you can afford these trips.

[Anonymous]

Anonymous wrote:I don’t understand why this is an issue if you have the money. It’s a budget question. You’ve told us nothing about your finances beyond the fact that you can afford these trips.

Usually our idea of a budget is to spend as little as we can, do one trip a year. So this is out of the ordinary for us. It feels very extravagant to spend this much this year. Same way I could theoretically buy a $500 dress but I never have or would do that.

[Anonymous]

I’d skip the trip abroad.

[Anonymous]

If spending it won't cause you to go into debt or keep you from paying for necessities, and you have a decent emergency fund, do it! You can cut back next year if you want. Spending time with family is important and sadly, there are no guarantees that everyone will be available and healthy in the future. What is money for if not to help you spend time with the people you care about?

[Anonymous]

Anonymous wrote:

Anonymous wrote:I don’t understand why this is an issue if you have the money. It’s a budget question. You’ve told us nothing about your finances beyond the fact that you can afford these trips.

Usually our idea of a budget is to spend as little as we can, do one trip a year. So this is out of the ordinary for us. It feels very extravagant to spend this much this year. Same way I could theoretically buy a $500 dress but I never have or would do that.

Are your values evolving or not? Does this spending reflect values you can name? If so, then do it if it doesn't compromise stability. And then stay home next year, haha.

[Anonymous]

Anonymous wrote:I’d skip the trip abroad.

Yeah for sure. On their deathbeds, people always wish they had stayed home and worked more.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I don’t understand why this is an issue if you have the money. It’s a budget question. You’ve told us nothing about your finances beyond the fact that you can afford these trips.

Usually our idea of a budget is to spend as little as we can, do one trip a year. So this is out of the ordinary for us. It feels very extravagant to spend this much this year. Same way I could theoretically buy a $500 dress but I never have or would do that.

Are your values evolving or not? Does this spending reflect values you can name? If so, then do it if it doesn't compromise stability. And then stay home next year, haha.

At the time we booked we felt it’d be important to see extended family and spend even more time with my parents and kids as well (at the end of their trip they will spend time with my parents). Now I am regretting it a bit since my parents are here so it doesn’t feel as crucial. It was a bit impulsive due to missing them and pretty unlike us!

[Anonymous]

If you have the money, I’d take the trip. I’m 42 but have multiple friends and family with stage 4 cancer. It’s really made me reflect on how I want to spend my time so I’d say take the time and see people while you’re all healthy.

[Anonymous]

Do you have miles or credit card points you could use to help offset the costs?

[Anonymous]

I didn't travel at all in my 20s because i was so frugal/ Dave Ramsey focused. It's a huge regret now!
I have a house just about paid off and I will never say no to travel. 39 now and finally doing what I thought I couldn't afford.

[Anonymous]

Anonymous wrote:Mentally credit the $6k to the college account and relax.

I think you just have to embrace this as your splurge year.

I sent my kid on a study abroad for highschoolers that cost $6K for developmental/career investigation reasons. (My husband has a language BA and I'm in international business..international work is possible for us.). But my thrift would prevent me from giving a $6K just-for-fun travel budget reward to a high schooler as a grad present. Even one who got a scholarship. I'd save it to help them buy a car. That trip seems like a real splurge to me.

So...I think the best mental framing of this is either...one-time splurge or that the travel is supporting educational/developmental goals. Because I think the grad gift trip is the most optional. But think it would also be crummy to withdraw the offer.

When I get stressed about travel spending, I often figure out if driving is possible vs. flying. However, inyernational vacations don't cost us much more than US vacations...so I don't think there's much to be saved from stating home.

Figure out ways to ensure the splurge is worth it. This is the purpose of careful savings - to be able to relax and enjoy yourself at least some time in your life without stress.

Have fun!

[Anonymous]

Anonymous wrote:

Anonymous wrote:I don’t understand why this is an issue if you have the money. It’s a budget question. You’ve told us nothing about your finances beyond the fact that you can afford these trips.

Usually our idea of a budget is to spend as little as we can, do one trip a year. So this is out of the ordinary for us. It feels very extravagant to spend this much this year. Same way I could theoretically buy a $500 dress but I never have or would do that.

Why? Life is to be lived. What's the point of this weird way of thinking?

[Anonymous]

Assuming you have the funds to pay, look into a credit card with a big signup bonus for points. We just signed up for the 100K points bonus on chase sapphire which will help offset our airfare on a trip later this summer.