Is taking this vacation financially irresponsible?

[Anonymous]

We just had our roof replaced to the tune of $10,000, which we paid out of pocket. Our savings took a hit, but we knew the roof needed replacing, and we had been boosting our savings accordingly in preparation. If everything goes as planned, we will have recouped that amount and then some by the beginning of next year, if you consider our usual monthly savings, end of year bonuses, and our tax return.

With that said, we are still debating if it is responsible to take our annual August vacation. It wouldn’t be as lavish as it usually is, but we would just like to get away as a family, even if it’s less luxurious this year. I found a great deal on airfare, and using points, accommodations for a week’s vacation would be $1000 out of pocket, before food. In the grand scheme, this $1000 isn’t going to make or break us in any way.

But it just feels irresponsible. Our savings is now at an all time low, though probably only feels that way to us; we have a fair amount of liquid savings. I’m just a pessimist and I see things happening (like the AC breaking or a car needing a major repair) if we take this vacation, and it feels irresponsible to spend money. My more optimistic side tells me to just do it! “You can always make money. You can’t always make memories.”

Help me rationalize this, DCUM, and see it objectively.

[Anonymous]

We skip on years we have to put significant money into the house. Maybe every 5 years or so. Im really honest with my kids about how this year we got a new furnace or siding or whatever. I think its a really good lesson for your kids to see honestly. We can always "afford it" but dont want to take any more "hits" to the savings.

[Anonymous]

Can you cut out something else to not have to forgo a family vacation? Your kids will remember those trips (if they’re old enough) and will look back on them fondly as will you.

[Anonymous]

Anonymous wrote: In the grand scheme, this $1000 isn’t going to make or break us in any way. ... we have a fair amount of liquid savings.

Hard to say without specific numbers, but doesn't seem unreasonable to me.

Try to think if a friend came to you with this exact question: What would you advise her to do?

[Anonymous]

Anonymous wrote:Can you cut out something else to not have to forgo a family vacation? Your kids will remember those trips (if they’re old enough) and will look back on them fondly as will you.

Sure! We could cut back on something, but I doubt we could recoup $1000 by August doing that alone. That, and I need to book airfare ASAP.

[Anonymous]

How much do you have in savings right now? How does that number compare to your monthly spend rate? Based just on what you said, I would take the vacation. If you were talking about going into debt for it my response would be different.

[Anonymous]

I’d still take it. That’s what emergency savings is for. You spend it on the emergency so that your other life things are not affected by it. Of course if you have multiple expensive emergencies that sucks and then you have to reevaluate.
We replaced our hvac this winter (unplanned) and now have water in the basement so we will have to deal with that and get new flooring. I’m still going on the vacation I booked for July which will be about $3k for the 3 of us. I need a vacation to recuperate and then kill it at work for another two months before raises and bonuses are decided

[Anonymous]

I would take it. You sound like you are generally really financially responsible and have a good handle on your budget. Your kids won’t be at home for that many years. Take the trip and make the memories.

[Anonymous]

Anonymous wrote:

Anonymous wrote: In the grand scheme, this $1000 isn’t going to make or break us in any way. ... we have a fair amount of liquid savings.

Hard to say without specific numbers, but doesn't seem unreasonable to me.

Try to think if a friend came to you with this exact question: What would you advise her to do?

I’d probably tell her to send me a postcard!

I don’t feel comfortable giving an exact number, but we do have a few month’s salary, if that helps at all?

[Anonymous]

Anonymous wrote:I’d still take it. That’s what emergency savings is for. You spend it on the emergency so that your other life things are not affected by it. Of course if you have multiple expensive emergencies that sucks and then you have to reevaluate.
We replaced our hvac this winter (unplanned) and now have water in the basement so we will have to deal with that and get new flooring. I’m still going on the vacation I booked for July which will be about $3k for the 3 of us. I need a vacation to recuperate and then kill it at work for another two months before raises and bonuses are decided

So sorry you’re going through that! See, those are the things I worry about! Of course, we’d make it work, too. Hope your cleanup goes well!

[Anonymous]

Every time we skipped a vacation, we paid for it in terms of our mental health.

There is such a thing as investing in your own well-being, OP.

Having said that, it you're the type of suffer more from financial anxiety than to benefit from the stress release of a holiday... stay put.

[Anonymous]

I would do it OP.

[Anonymous]

Take the vacation.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: In the grand scheme, this $1000 isn’t going to make or break us in any way. ... we have a fair amount of liquid savings.

Hard to say without specific numbers, but doesn't seem unreasonable to me.

Try to think if a friend came to you with this exact question: What would you advise her to do?

I’d probably tell her to send me a postcard!

I don’t feel comfortable giving an exact number, but we do have a few month’s salary, if that helps at all?

BOOK IT. You are not being irresponsible. You paid for the roof out of earmarked savings. You have a plan to replenish the savings. Go forth and make memories this summer!

[Anonymous]

I’d cut back on so many other areas before I eliminated the annual vacation