Vacation spending woes and debt
I’m going to be on vacation for the next week but still need to keep our ship floating while we’re gone. The bills that are due while we’re gone have been paid. There are some others that will have to be paid when we get back. The reason I bring this up was last time we went on a trip some bills were simply not paid on time. I have made every effort not to repeat this problem so everything stays current.
My number one concern with this vacation next week is our spending. This month we’ll see a reduction of income for the week my wife will be off work. At the same time, that’s a week of groceries, gas, and household expenses we don’t have to consider. At the same time that doesn’t mean overspending on vacation should happen, or we’re going to have a problem paying the rest of the bills this month. I’m already seeing an increase in spending which is making me nervous.
We set aside some money to pay for our trip from that stimulus check. That has been spent now with the costs of our trip, so I hope any additional spending will be minimal. We have to bring a little cash for tips and some eating out, but most of that expense is covered as part of our trip. I’m not a huge fan of souvenirs, crap they sell you while you’re on the trip that you don’t really need and will eventually get rid of anyway.
Don’t get me wrong I am excited about going on a vacation. We have not been on one in 3 years now so this week of pure freedom from responsibility will be much enjoyed. I’m also glad we don’t have kids yet, because family vacations are probably stressful for parents. The other part I’m excited is to come back and get back to attacking the crap out of the debt. I’ll also update everyone with what happened with the IRA.
Have fun Iam leaving for vacation too. For souvenirs, I am totally in the same boat you are. Having no Kids? Yes that’s what I like at this point of time. Just like every vacation is honeymoon. My opinion about IRA money is just put it towards debt. It is going to give you big energy boost.
I recently found your website! I wish you luck. While reading your prior posts– I can’t help but wonder why you have not considered a “credit counseling” service? Credit Counseling Agencies can help reduce your interest rates, by working with the credit card companies. A timeline is established to repay your credit cards; you have one monthly payment, which is usually withdrawn from your bank account automatically. The down side is that your credit may be negatively affected. The upside the interest rates are brought down to something manageable, late fees may be forgiven, and over the fee limits may also be waved, depending on your situation. Moreover, the light at the end of the tunnel is “actually” visible. (I have been in your shoes–similar student loan debt, a car payment, thou I had less credit card debt. I am single, living on a single income. I have managed to reduce my debt, continue to pay my student loans, and curve my spending and managed to save a little).
My two cents regarding the 401k, don’t cash it out. As appealing as it may appear, you need to have the nest egg-today. True it is “free” money, and will help you, reduce your debt, however in the future will you be ready for your retirement? Remember you are the one responsible for your future, which includes your retirement, and periods of time when you’re not-working.
I hope you have a good vacation.
I hope you don’t stress over your debt too much because it can take away from your vacation. I have had my fair share of stress and know what it can do to your health and relationships.
Ugh — stupid advertisers making “comments” to push their wares. How annoying.
Anyway, I hope you are enjoying your vacation. When I went on vacation last month, I worried that I’d spend too much, but instead of stressing about it, I kinda turned it into a game called “Just How Little Can I Spend and Still Have Fun?” I did pretty well, and I actually spent less than I’d budgeted.
Take care.