Wednesday, March 10, 2010

Vacation...

I really want to go on vacation. Two of my friends have been talking about taking a small trip to Puerto Rico in April. The thought was that we would have some extra funds from our tax returns so we could afford to go. Now we all know my financial situation. My mental situation is not so good either. I would love to get away to just escape for a few days, get my head together and disconnect from it all responsibly. I did a little research today and the cost of the trip would be about $800/person and I would need to factor in my dining and entertainment costs as well.

I have $2k in emergency savings, $10k in short-term savings, $250 in long-term savings and $500 in my checking account. The $250 came from my state tax return and change from my piggy bank that I need to deposit this weekend.

The only irregular expense that I anticipate in April is my quarterly water bill which is usually about $100. There are no birthdays in April so I don't need my budget for gifts. I am going to run the numbers and see what I can come up with because I really want to get away for a few days and have some fun.

14 comments:

Chitown said...

I am already expecting some bashing on this post...

velvet jones said...

I'm not going to bash you...

...but I am giving you the side-eye right now. ;)

Sallie's Niece said...

I say go. As long as you can repay yourself the $800 in a couple of months. Sometimes you just need to get away, it's good for you. Then again, I regularly get flamed for my choices so what do I know? :-)

Anonymous said...

WCB,

Listen - no one suffers any consequences except for you for your spending choices. And they are choices. Do you want to get out of debt? And how far are you willing to go to do that?

Do you have a debt reduction plan in place? Do you have any goals for how much debt given your salary RIGHT NOW you can pay off in a year?

As long as this vacation fits into your goals, then do what you must. But I would carefully evaluate wants and needs.

For the record, I didn't go on any vacations except to visit family while I was paying down my unsubsidized loans. I gave myself a vacation once the subsidized loans were paid off.

I am failing to see a plan B here for you if your job with a higher salary doesn't appear.

Just my two cents in support of your debt cause.

Kris

Aaren said...

I understand needing a weekend away; I really truly do. But how many days is "a few days"? And how much, per day, is this trip costing you?

The bigger question is this: how does what you're contemplating regarding this vacation correlate with the goals that you've set for yourself? You're stressed about paying presumably $300/month more for student loans, and yet are apparently willing to spend 3 months worth of that increase for a "few days."

You've indicated that fixed expenses are 89% of your take home; can you REALLY afford this? Three months after the trip, after you've made your first increased loan payment, will you look back and say you could afford it?

There are infinitely cheaper options for getting away. They might not be as much fun as Puerto Rico, but they can satisfy your desire to get the H E double hockey sticks away from dodge. To be honest, this sounds like a Joneses' move--they're going so I am too.

But, as Kris said, the only one who suffers consequences on this is you, though my stomach did clench briefly :D. Just be wise and look at this carefully before deciding.

gonna_make_it said...

I think you should take a less expensive vacation, especially since your loan repayment amount is going up and your budget is going to be really tight.

Theresa said...

If you are expecting some bashing it is because you know this is a foolish choice.

I want to say you should follow the little voice inside of you on this choice but I am going to put my 2cents in too- SERIOUSLY? This seems like the same sort of decision you made last year when you racked up 23K in cc debt.

If you can use your savings to justify this trip then you should be using those funds to pay down debt.

Aaren said...

I tried to stay away, but I had to come back to say:

YOU CANNOT BE SERIOUS!!!!!!!

Seriously?!?!? Seriously Chi? No, no, I REFUSE to believe you are actually considering this. NO! ARRGGGGHHHHH!!!!!

Okay, crazy screaming maniacal Aaren rant over. Back to your regularly scheduled programming.

Chitown said...

Damn...I know you guys are right.

I've just been feeling like I might lose my mind if I don't get away and I am too scared to go anywhere by myself in this crazy world. My friends are going here and they are the only ones who I think I will be able to tag along with anywhere.

My hair is falling out, my parent's house use to be my safe relaxing haven and now that my grandmother has full blown alzheimers...I don't even enjoy going over there. Being the single gal that I am...my house gets lonely. I need to get away from this job, my family, my everything.

I just need moola to do it!!! Crapola...

Chitown said...

And Theresa...you're right...

"If you are expecting some bashing it is because you know this is a foolish choice."

Ouch!!!

anikra said...

Hi Chitown

I am new to your blog (wish I love by the way). I just want to weigh in on this. I definitely understand how you feel you just need some me time and want to get away from the city. Try to find a cheaper alternative and hang out with some friends that are in the same financial situation as you so they can understand. If anything just do a spa weekend in the Chi and make your home your oasis.

I say all this because I am struggling to pay off 15K and credit card debt (let's not even get into my student loans) and I am a single parent. I felt the same way you did last year and ended up taking a week vacay to Jamaica and did not properly plan for it...I was banking on my huge bonus we get at the end of the year. When I cam back from Jamaica there was some very bad news waiting for me. We were not getting bonus due to a $30M write-off so yeah needless to say I am still paying for the trip almost a year later.

When you pay off your debt then yes take your vacay or save a little bit more specifically for your vacation and take it later this year or next year. Although I have a long, long way to go before I pay off my debt I am a little smarter this year and I am not taking any vacations.

Best of Luck,

Anikra

Chitown said...

Thanks for all of the feedback.

Chitown said...

Anikra...thanks for reading.

Theresa said...

I love your blog and find your honesty refreshing.

After reading your comments I think you should look at volunteering somewhere for a few days. You can get a different perspective on your life and giving back to your community is a great way to make yourself feel better.