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[quote=Anonymous][quote=Anonymous]PP who spends $20k a year on vacations here.  I wouldn't even dream of spending that much if I didn't have a solid emergency fund, wasn't maxing out both of our 401ks completely and saving at least 10% additional annually (through liquid investments, college savings or equity).

If I was not increasing net worth at a regular clip to prepare for the future, I would think that I couldn't afford it at all![/quote]

Yes this.  Between DH and I, our HHI is just under $500K.  We don't spend what you do on vacations every year.  4 kids.  One in college, one in private HS, one in private grade school and one in full time daycare.

First and foremost, we fund our retirements fully through work and the additional 10% that the PP mentioned.  They we put away enough to cover the 4 kids current schooling.  Then comes the younger 3 kids college contributions.  Next is a review of the health of the children--who is going to need SAT prep, braces, etc.  Next comes a review of the health of the house--what are the capital expenditures for this year.  Then we put away money for the emergency fund.  Next we review the health of the cars--major repairs?  New tires?  Is it time to buy a new one?

Then, after all of that is done, we see what is left.  If it's been a good year at work and there aren't too many upcoming expenditures, we will go on a nice family vacation in the range of $10K for the 6 of us for the week.  If it's going to be a tough year, we all go to Nags Head for under $3K.  And some years, we split the family up...big kids go on vacation or little kids go on vacation.  This is how we come up with our vacation money.  Some years are better then others.
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