Advice on annual travel budget with HHI of 300K?

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP here. Most of you are sounding like my husband, with these figures, lol.

This post is brought to you by our latest disagreement whereby we are going to visit his family in Miami, and of course we have to go during school breaks which are more expensive. It costs $400/ticket to fly to Miami when we are looking but $177/ticket fly to Jacksonville and drive 5 additional hours each way. Guess which one he wants to do? His revised idea, then, is to rent an RV and drive both ways - but also, I can only take a week off work. And apparently, I think time is money

We could theoretically go a different time of year but it’s also a milestone birthday for his mother.

We actually haven’t done a ton of travel this year because I was “saving” for an international trip next year that is now unlikely to occur (for non-monetary reasons). I put “saving” in quotes here because I didn’t actually put any money aside except in my own mind. That is where I think a budget would help . But it appears there is a wide range of what travel budget would be acceptable.

Where is all your money going? If you're not socking it away for college, and your DH is too cheap to spend $400/ticket to see his mother for her birthday, where is the money? What is the point to making $300k if you're going to live like a miser?

Well that my question here and what I often say lol. It’s 400x5 = 2000 on plane tix which I get is annoying but what can we do? That’s what it costs. We admittedly spend more than we should on food / eating out but that’s not all the money. It goes in the savings / retirement accounts I mentioned and I do plan trips but the recurring theme is how much money I’m spending on the trip.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Traveling is a very wise investment opposed to typical American vacations to idiotic places like Disneyland. When you travel with your children they naturally become worldly just by waking up in the morning in a different country and that before you even visit Versailles that afternoon.

Amusement parks just on the surface have the potential to be dangerous. Furthermore the G-Forces on a child's brain can't be good.

If Europe is too expensive then take road trips across the United States. Turn every vacation into a learning experience and make them memorable.

lol ooooookay.

We spent $3k one year on a big ski trip, $700 a year for another 3 years straight (a couple weekend trips) then, gasp, $7k this year on Disney, because it’s something you take your lumps and do when you have kids. HHI of $700k.

Travel is never an “investment.” On the other hand, why have a high income if you can’t enjoy things sometimes. But it’s a self-indulgent luxury whether to Disney or Berlin.

The difference is the Brandenburg Gate and Check Point Charlie are real. The Magic Kingdom and Cinderella are just dopey. I you want to see something majestic and awe inspiring visit the Redwood Forest, Yosemite, or The Badlands.

And to answer your questions everything people spend money on is an investment and secondly why bother having a HHI if that money is not spent on experiences that enrich your children.

I’ve traveled extensively internationally and domestically so if I agreed with you I would know it but my eldest is still thrilled to talk about her Disney experience from earlier this year and has nothing to tell you about her Lewis & Clark fort visit.

I didn’t ask any questions.

[Anonymous]

We have a hhi of 300 k, and spend about $25k a year on vacations.

If we were going for a week we would drive down to Miami though, in our regular car. We used to leave st 7 pm, take it in turns to drive, and be there by 10 or 12 the next morning.

[Anonymous]

Anonymous wrote:We have a hhi of 300 k, and spend about $25k a year on vacations.

If we were going for a week we would drive down to Miami though, in our regular car. We used to leave st 7 pm, take it in turns to drive, and be there by 10 or 12 the next morning.

OP. In an ideal world I would probably like something like a $25K per year budget. I’m going to try to suggest $18,000, I think. I’ll let you know what happens.
I saw something online that said people often spend 5-10% of their salary on travel. I decided I would try that post taxes and pick 7.5% - then I added $1,125 for my gifts for the year

[Anonymous]

Spending $25k on vacations when you save $1200 for college per kid is terrible. Man.

[Anonymous]

Anonymous wrote:Spending $25k on vacations when you save $1200 for college per kid is terrible. Man.

You didn’t read the full story on that in the comments.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Spending $25k on vacations when you save $1200 for college per kid is terrible. Man.

You didn’t read the full story on that in the comments.

Yes, I did. I cannot imagine contemplating spending $18k or $25k when I am only saving $3600 for 3! kids. Even if the grandparents claim they will be helping (but having no idea what they actually means). Irresponsible.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Spending $25k on vacations when you save $1200 for college per kid is terrible. Man.

You didn’t read the full story on that in the comments.

Yes, I did. I cannot imagine contemplating spending $18k or $25k when I am only saving $3600 for 3! kids. Even if the grandparents claim they will be helping (but having no idea what they actually means). Irresponsible.

What about the part where I said I would add more from what we make over $300K with bonus /commission? Their college will likely be fully paid.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Spending $25k on vacations when you save $1200 for college per kid is terrible. Man.

You didn’t read the full story on that in the comments.

Yes, I did. I cannot imagine contemplating spending $18k or $25k when I am only saving $3600 for 3! kids. Even if the grandparents claim they will be helping (but having no idea what they actually means). Irresponsible.

What about the part where I said I would add more from what we make over $300K with bonus /commission? Their college will likely be fully paid.

How much do you have per kid and what are their ages?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Spending $25k on vacations when you save $1200 for college per kid is terrible. Man.

You didn’t read the full story on that in the comments.

Yes, I did. I cannot imagine contemplating spending $18k or $25k when I am only saving $3600 for 3! kids. Even if the grandparents claim they will be helping (but having no idea what they actually means). Irresponsible.

What about the part where I said I would add more from what we make over $300K with bonus /commission? Their college will likely be fully paid.

How much do you have per kid and what are their ages?

Well the oldest is almost 9, and there’s $20K in that account but as I said upthread, point taken that that amount should be increased and I can add to that from amounts we make over $300K. Trust me the bonus /commission stuff is a pain for budgeting so the $300K here is a “safe” amount. That’s part of the problem with DH wanting to live within our means, save, etc.
Maybe I am being too lackadaisical about college, but at one point recently we were shelling out $40K a year on daycare with no advanced savings, and early on in our marriage DH paid for me to do 3 years of (private) grad school with no advanced savings.

[Anonymous]

How much do you guys have in savings? Do you even know? Your mortgage and expenses are fairly low for your income level. $2k for tickets to see dh's mother for a milestone birthday shouldn't even be a blink for you guys.

[Anonymous]

Anonymous wrote:How much do you guys have in savings? Do you even know? Your mortgage and expenses are fairly low for your income level. $2k for tickets to see dh's mother for a milestone birthday shouldn't even be a blink for you guys.

Good question - at least a year’s income in savings, and separate retirement savings.
I see I should be more on top of this but I was letting out finances be DH’s job except now I have to be involved because I want to spend money that I think we have.

[Anonymous]

Anonymous wrote:Traveling is a very wise investment opposed to typical American vacations to idiotic places like Disneyland. When you travel with your children they naturally become worldly just by waking up in the morning in a different country and that before you even visit Versailles that afternoon.

Amusement parks just on the surface have the potential to be dangerous. Furthermore the G-Forces on a child's brain can't be good.

If Europe is too expensive then take road trips across the United States. Turn every vacation into a learning experience and make them memorable.

With all due respect, I don't think OP was asking for advice on where to go to on vacation.

[Anonymous]

TWENTY FIVE THOUSAND DOLLARS A YEAR ON A THREE HUNDRED THOUSAND HHI OMG

If my DH proposed that I would hit the ceiling. Holy crap.

[Anonymous]

Anonymous wrote:We don't really budget that way -- I track spending to see where the money goes, I don't arbitrarily set amounts for given categories in advance.

But, on a similar HHI, we typically spend between $8k-15k on travel each year.

That’s not budgeting, it’s tracking. If you’re happy with it, it’s fine, but you’re not budgeting.