Comments on: The Debt Free Vacation http://www.fivecentnickel.com/2010/04/08/the-debt-free-vacation/ personal finance tips, tricks, and commentary Mon, 13 Feb 2012 15:56:49 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Peter http://www.fivecentnickel.com/2010/04/08/the-debt-free-vacation/comment-page-1/#comment-152041 Peter Wed, 14 Apr 2010 03:17:22 +0000 http://www.fivecentnickel.com/?p=5771#comment-152041 We do the debt free vacations too. We setup a goals savings account in ING, figure out how much we need, and then fund the account. Then we take out enough cash for spending money while we're gone -and don't spend any more than we bring. Vacation is so much more enjoyable when you don't have to worry about paying it back later! We do the debt free vacations too. We setup a goals savings account in ING, figure out how much we need, and then fund the account. Then we take out enough cash for spending money while we’re gone -and don’t spend any more than we bring. Vacation is so much more enjoyable when you don’t have to worry about paying it back later!

]]> By: Rosa http://www.fivecentnickel.com/2010/04/08/the-debt-free-vacation/comment-page-1/#comment-151231 Rosa Thu, 08 Apr 2010 18:44:36 +0000 http://www.fivecentnickel.com/?p=5771#comment-151231 Our vacations come out of our amorphouse "extra money" that is sitting around in the savings account unallocated. I should probably make an account and label it as being for Christmas/vacations, but as long as the rainy day/everything else fund stays at a reasonable level, it's hard to find the motivation for change. Our vacations come out of our amorphouse “extra money” that is sitting around in the savings account unallocated.

I should probably make an account and label it as being for Christmas/vacations, but as long as the rainy day/everything else fund stays at a reasonable level, it’s hard to find the motivation for change.

]]> By: Bucksome Boomer http://www.fivecentnickel.com/2010/04/08/the-debt-free-vacation/comment-page-1/#comment-151221 Bucksome Boomer Thu, 08 Apr 2010 16:59:27 +0000 http://www.fivecentnickel.com/?p=5771#comment-151221 Matt, we also have debt-free vacations (going on a cruise later this month). Do you just connect to the cell phone to post or for writing your articles? I write draft posts often while flying on business. I write them in Windows Live Writer and then sync to Wordpress later on at home or the hotel. Matt, we also have debt-free vacations (going on a cruise later this month). Do you just connect to the cell phone to post or for writing your articles?

I write draft posts often while flying on business. I write them in Windows Live Writer and then sync to Wordpress later on at home or the hotel.

]]> By: Squirrelers http://www.fivecentnickel.com/2010/04/08/the-debt-free-vacation/comment-page-1/#comment-151211 Squirrelers Thu, 08 Apr 2010 16:57:13 +0000 http://www.fivecentnickel.com/?p=5771#comment-151211 Vacations should be paid for within a normal credit card cycle, at most. Setting aside funds specifically for vacations or a particular vacation is a good idea, regularly contributing to the fund just as one would automatically put funds in a 401k account. For example: lets say that you plan to go on a vacation that will cost $2,000, and will be in 6 months. Well, ideally you want to plan earlier, but lets say it is a family wedding and that is when you need to go. In this case, save $333 per month to go toward the vacation. When the vacation is completed, and you have charged the costs on your credit card, you will have the funds available to pay. This same principle applies to buying a car: save regularly for your next car, putting away money regularly so that you can pay cash. Vacations should be paid for within a normal credit card cycle, at most. Setting aside funds specifically for vacations or a particular vacation is a good idea, regularly contributing to the fund just as one would automatically put funds in a 401k account.

For example: lets say that you plan to go on a vacation that will cost $2,000, and will be in 6 months. Well, ideally you want to plan earlier, but lets say it is a family wedding and that is when you need to go. In this case, save $333 per month to go toward the vacation. When the vacation is completed, and you have charged the costs on your credit card, you will have the funds available to pay.

This same principle applies to buying a car: save regularly for your next car, putting away money regularly so that you can pay cash.

]]> By: Skeemer118 http://www.fivecentnickel.com/2010/04/08/the-debt-free-vacation/comment-page-1/#comment-151171 Skeemer118 Thu, 08 Apr 2010 14:17:38 +0000 http://www.fivecentnickel.com/?p=5771#comment-151171 We work Dave Ramsey's plan & stick to it for the most part. (Minus carrying loads of cash in our wallet)But we also realized quickly that we have to make the plan work for our family. Like you, we save all year & plan an economical vacation. Last year, we went to the mountains for a week & to the beach for a weekend. Both trips were paid for in cash & I even used coupons when we grocery shopped. We also paid off $9,500 in debt last year! We leave this Saturday for another trip to the mountains & it has been paid for in cash. Our spending money is also cash only so we don't absent mindedly swipe our debit cards 1 too many times. :) We work Dave Ramsey’s plan & stick to it for the most part. (Minus carrying loads of cash in our wallet)But we also realized quickly that we have to make the plan work for our family. Like you, we save all year & plan an economical vacation. Last year, we went to the mountains for a week & to the beach for a weekend. Both trips were paid for in cash & I even used coupons when we grocery shopped. We also paid off $9,500 in debt last year! We leave this Saturday for another trip to the mountains & it has been paid for in cash. Our spending money is also cash only so we don’t absent mindedly swipe our debit cards 1 too many times. :)

]]> By: Rhonda http://www.fivecentnickel.com/2010/04/08/the-debt-free-vacation/comment-page-1/#comment-151161 Rhonda Thu, 08 Apr 2010 13:50:43 +0000 http://www.fivecentnickel.com/?p=5771#comment-151161 Our honeymoon was the only trip we put on a credit card, and we paid it off within 4-5 months. Since then, we've always saved for our vacations. This winter we are going to New Zealand for 3 weeks. We've saved for the trip for 5 years, taking only small vacations (3-5 days) each year. What a great relief to know that we don't have to sacrifice future financial security for this experience! Our honeymoon was the only trip we put on a credit card, and we paid it off within 4-5 months. Since then, we’ve always saved for our vacations. This winter we are going to New Zealand for 3 weeks. We’ve saved for the trip for 5 years, taking only small vacations (3-5 days) each year. What a great relief to know that we don’t have to sacrifice future financial security for this experience!

]]> By: Mike http://www.fivecentnickel.com/2010/04/08/the-debt-free-vacation/comment-page-1/#comment-151151 Mike Thu, 08 Apr 2010 13:01:15 +0000 http://www.fivecentnickel.com/?p=5771#comment-151151 Great tips... we do the same now that I have subscribed to all these personal finance blogs, though we do it w/o having any other debt. I use SmartyPig now because setting up goals is even easier and more pleasing to my fiance's eye, as well as having a much better interest rate. Great tips… we do the same now that I have subscribed to all these personal finance blogs, though we do it w/o having any other debt. I use SmartyPig now because setting up goals is even easier and more pleasing to my fiance’s eye, as well as having a much better interest rate.

]]> By: Laura http://www.fivecentnickel.com/2010/04/08/the-debt-free-vacation/comment-page-1/#comment-151141 Laura Thu, 08 Apr 2010 11:16:22 +0000 http://www.fivecentnickel.com/?p=5771#comment-151141 Great job Matt on having a debt free vacation! We've been enjoying them since we got married. It has surprised a few of our friends, but most have supportive. Great job Matt on having a debt free vacation! We’ve been enjoying them since we got married. It has surprised a few of our friends, but most have supportive.

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