Reply to HHI 250k—what’s your travel budget?

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[quote=Anonymous][quote=Anonymous]Ours is very low. HHI $230k. Maybe $4k, all in? Two beach vacations with family and a few driving trips to see family and friends, that’s it. My kids have only ever flown twice (round trip) in their whole lives.

But our kids are very little - 4, 2.5, and one on the way. We pay out the nose for childcare and we stretched to afford our house. So while we are quite well off, we’ve prioritized other things. Our priorities are likely to change as the kids age.

The thing about HHIs in these kind of numbers is that you’re basically wealthy - whatever is most important to you, you can afford it. Awesome vacations, great house, fabulous nanny, great clothes, expensive hobbies, lots of kids, lots of expensive extracurriculars. But you have to choose. You can only go big on a couple of things (depending on your definition of big). So we’ve got our great nanny and a pricey mortgage, but we don’t travel and we buy clothes at thrift stores. I’m sure there are plenty of people at this HHI in a two bedroom apartment with one kid who spend $50k a year on travel. [/quote]

This is a great point. A travel budget without context is meaningless.

With more kids you have more other expenses *and* travel costs more (like needing a second hotel room, more in airfare, bigger dining budget, etc.)

But if you bought your house a long time ago and are out of the expensive childcare years, then you have more disposable money. We have 3 and definitely take nicer trips now that when we were dropping 4K/month on childcare. Sure some expenses like extracurriculars have gone up, but not to the tune of 48k/year and our salaries have gone up as well.

Once you no longer need a nanny and (hopefully) salaries grow into your mortgage, your travel budget may get bigger (if that is what you choose to reallocate it to!) [/quote]

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