Anonymous wrote: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.

+1. My kids are a rising freshman and a rising junior. So I would take it. It can be budget. It does not have to be extravagant. But we only have 2-3 more years where we can guarantee that we can travel together. After that breaks may not line up and summer work and internships happen, etc. And we are all going in different directions during the school year. So, I put a huge priority on taking away electronics and all spending time as a family. Could that happen without leaving the DMV? Theoretically. But IRL, my Hs student has summer commitments and DH and I have work commitments that it is hard to get out of except for vacation. And the kids friends invite them over. Etc. If we are home and do a staycation, we “should be”... something. So yes, in our case, it is making memories because we have an end date in sight. And because it is finally really enjoyable to travel with the kids.

If my kids were 3-5? It is unlikely they would remember the vacation and for the parents, it is often toting cranky toddlers. I would have both parents Staycation, and take the kids on a fun outing every day. We live in the middle of a huge vacation destination. You can have fun, spend time with your kids, do the things you’ve wanted to do with them all year, and let them sleep in their own beds.

So I guess in addition to the cost, I would look at the benefit. Are you getting something you cannot get at a lower cost? Are you doing something that is important and probably cannot be done later? If so, go for it. If not, find another way to spend time with your kids. You can have an amazing week in DC and day trips to Harper’s Ferry, Annapolis, Great Falls, etc. for the price of gas and hotdogs and ice cream.

We had our deck replaced this year and we exchanged vacation. Supposed to go to Maui and now we are going to my parents who live in Maine.

Always take the vacation.

I just had some family deaths which really showed me the value of enjoying life.

Your vacation sounds reasonable. Enjoy!

Anonymous wrote:

Anonymous wrote:I'm older so that colors my view. It is irresponsible to take the trip. $1000 is a lot of money. You've got to build your savings back first. You can make great memories together at home. There are so many things you can do that don't involve $1000 for airfare. It's prudent to cut back after such a big expense.

I'm surprised more people aren't concerned about the hit to the savings account. I'm the kind of person who likes to have 6 months of living expenses in my checking (interest bearing for whatever that is worth) account. I would not let my account drop below that for the purposes of a vacation as the point of the cushion is that it's your protection IF something unfortunate were to occur (job loss, major home repair, need for new car, etc.)

I would not say that $1,000 + food is an incidental expense by the way. I'd say $1,000 + meals out might easily come to $2,000 after all is said and done.

Finally, I don't understand why you have to fly anywhere to have an awesome vacation. Have a staycation. See the sights in DC that are free. Order some pizzas and eat on paper plates. Roast S'mores in the fireplace. Go to a fancy ice cream shop and order the largest fanciest sundae on the menu and each kid gets to pick a scoop. There are so many really fun times you can have as a family that would not involve spending money on airfare, etc.

I agree. If they have no savings, this is insane. Just because op found a great deal on airfare, the cost of which she hasn't bothered to share, doesn't mean the family should jump on the vacation.

Anonymous wrote:I'm older so that colors my view. It is irresponsible to take the trip. $1000 is a lot of money. You've got to build your savings back first. You can make great memories together at home. There are so many things you can do that don't involve $1000 for airfare. It's prudent to cut back after such a big expense.

I'm surprised more people aren't concerned about the hit to the savings account. I'm the kind of person who likes to have 6 months of living expenses in my checking (interest bearing for whatever that is worth) account. I would not let my account drop below that for the purposes of a vacation as the point of the cushion is that it's your protection IF something unfortunate were to occur (job loss, major home repair, need for new car, etc.)

I would not say that $1,000 + food is an incidental expense by the way. I'd say $1,000 + meals out might easily come to $2,000 after all is said and done.

Finally, I don't understand why you have to fly anywhere to have an awesome vacation. Have a staycation. See the sights in DC that are free. Order some pizzas and eat on paper plates. Roast S'mores in the fireplace. Go to a fancy ice cream shop and order the largest fanciest sundae on the menu and each kid gets to pick a scoop. There are so many really fun times you can have as a family that would not involve spending money on airfare, etc.

Anonymous wrote:

Anonymous wrote:1) How much do you have in emergency savings after fixing he roof?

2) How long will it take you to save an additional 1k?

OP wrote that it would take them till the end of the year (i.e. 6 more months) to replenish the $10,000 in savings.
So about $1000 per month.

OP said she has other liquid savings. How much does she have in liquid savings after the roof is fixed? If she can make up the 1k vacation in one month, maybe she can afford the vacation. But not if she will have zero savings after the roof.

You say you want to get away with your family. How old are any kids? I would make it a higher priority to take a summer vacation if my kids were closer to launching or closer to starting some "scary" new phase like middle school. Cement those family bonds and fill up the good, close feeling that your family has your back.

Anonymous wrote:1) How much do you have in emergency savings after fixing he roof?

2) How long will it take you to save an additional 1k?

OP wrote that it would take them till the end of the year (i.e. 6 more months) to replenish the $10,000 in savings. So about $1000 per month.

Anonymous wrote:
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.

The same thing happened to us when we skipped a vacation. That said, OP sounds pretty financially responsible.

Op I also think this is wrong forum to address this question. Although dcum is known for chastising posters who have less than multiple millions saved for retirement, it is also known as the forum that always says SPEND, SPEND, SPEND on any question like yours.

Reframe your thinking. You aren't hurting your family by skipping flying somewhere for a vacation. You haven't addressed the other expenses.

I'm older so that colors my view. It is irresponsible to take the trip. $1000 is a lot of money. You've got to build your savings back first. You can make great memories together at home. There are so many things you can do that don't involve $1000 for airfare. It's prudent to cut back after such a big expense.

1) How much do you have in emergency savings after fixing he roof?

2) How long will it take you to save an additional 1k?

Take the vacation.

We have a separate savings account for vacations. We use it for the annual trip and long weekends. If the money is there, we use it. If not, we keep saving. It doesn’t matter what’s in our emergency savings because the two are not related. Something like that may be useful to you since you’re so rationally minded (saying that as a good thing, I am too!)

I'd take the vacation - family time is priceless and you sound fiscally responsible. Pinch pennies elsewhere and your savings will rebound.

Take the vacation. Life is not promised and we all need to reboot regularly. If it means you are packing your lunch for a few months, oh well.

Anonymous wrote: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.