financial situation...vacation?

[DizNee143]

so me and hubs are pretty much broke right now..
we got so many bills from when i had our daughter Cheyenne in dec (12.4.09)..and still every now and then get a surprise bill from the birth..its crazy! lol..
i mean all the bills together are not alot alot..but we just dont have that kinda money lying around..so ive been doing like 10 bucks a month to each bill..
then on top of that we just have the standard bills..mortgage..cable..cell phone..cars..credit cards..etc..
so we are just overhelmed..we do manage to some how get by every month though..
we are even trying to sell our condo right now and its going to be a short sale..
what im getting at is..is it stupid that im still trying to save for a disney vacation? we are looking at going in january 2012..going with my parents..
with all the bills we have..
is it stupid that when i make a few bucks here and there selling things or my husband does a side job..is it wrong that i take a few bucks and put it in my disney fund? i have 200 bucks saved already..and yes we could use that to pay some stuff..but we really wanna bring Cheye to Disney when shes 2-ish..
i just feel like we are being stupid..but then again its not like im not paying mortgage and putting that money in my disney fund..its like i said..its if i have like dollar or two leftover from the week of the little bit of money i allot for myself to have on me..side jobs..etc..
ughh...
i so hate money..we never have enough! lol..

[PopPhan]

I mean no offense, but I believe you know the answer to that question....Disney will be there when you DO have the available monies, but you really should take care of the important things -- food, clothing, shelter, keeping the bill collectors away, etc. -- before the luxury of a vacation, Disney or otherwise.

You will enjoy it a lot more if you don't have to come home to more bills.....

Good luck on the condo sale and I sincerely hope that things work out and you can take that Disney vacation soon!!

[ibelieveindisneymagic]

I'm sorry you're in a tight financial situtation, it isn't easy for so many these days.

This can be tricky - I know for us, that if we waited to go to Disney until we had no debt, we'd never go.

But, I also would never go to Disney (or on any trip) and jepordize our finances for it. For us, we have a plan, we're paying down debt, and able to put a little aside each week as "fun" money. We're really picky on what we spend the fun money on, and save as much of it as possible for a Disney trip.

So, if you're just scraping by, without anything to spare, then I would put off the trip for a bit. If you have a couple of bucks extra, put some towards the debt (make sure it stays current at ALL times) and a few bucks aside for a trip. When you've saved enough for the trip, then is a good time to go.

Don't feel pressured to go just because your parents want you to, or you feel you should. Not having the worry and stress about making ends meet every day will be a much better feeling that a vacation you can't afford.

[DizneyRox]

Rule #1 is you never save money when you owe money. It's nice to have a rainy day fund, but even that can usually be taken care of with credit cards.

Higher interest bills get paid off before lower interest rate bills.

Any extra money made needs to go towards paying down debt. Although, quite frankly, that short sale is really going to hose your credit rating, it might be worth taking to someone about debt restructuring.

[DizNee143]

both credit cards on suspened since im on what they like to call..there "charity case" both interest rates are ridicously low and i have a set amount i have to pay for the next 4 years..so thats taken cared of..everything is current..i moved all my due dates to the end of the month so i wont be late on things anymore..and i can pay a few bills each week..
but like i said everything gets paid..we have money for gas and food..i just try to be as tight as i can with the money..and its like every time i think i have it under control up pops a surprise bill from something..
our credit is already going bad..and we know the hit we are gonna take with the (hopeful) move..but we just obviously can not make it in jersey..its just not possible..
i know we arent the only ones going through this..and i know things will get better..i just wish we could fast forward to that point! lol..

[dnickels]

Just something to keep in mind - if you're making minimum payments on some of that debt (credit cards with 10-20% interest rates for example) you're basically losing the same amount of purchasing power by saving the money rather than putting it towards the debt.

Admittedly, I'm more of a saver, I think the only debt to hold is education (student loans, although even that should come with a caveat) or a mortgage on a house, if I have to finance anything else then it's probably something I don't need. What about canceling the cable/internet? There's an extra 40-100 bucks a month to put towards the debt. Downgrade the cell phone plans to the bare minimum, sure it means no more texting, surfing the web or unlimited talking but again, more money towards the debt. Can one of you sell one (or both) of the cars and get something basic, used and reliable (Toyota Corollas come to mind). After the short sale consider a one bedroom apartment. It's only in the last generation or so that we've convinced ourselves every child needs their own room and we need a spare and an extra bathroom and.....

Disney will be there in the future, but so will that debt if you don't get on it soon. There's a great saying that you can have everything in life, you just can't have it all at the same time. If you want Disney maybe that means giving up some of the other things (cable/cell phone/two cars). If you want the other things maybe that means giving up Disney.

Best of luck, just remember that a week with the mouse isn't worth risking your financial future

[DizNee143]

Just something to keep in mind - if you're making minimum payments on some of that debt (credit cards with 10-20% interest rates for example) you're basically losing the same amount of purchasing power by saving the money rather than putting it towards the debt.

Admittedly, I'm more of a saver, I think the only debt to hold is education (student loans, although even that should come with a caveat) or a mortgage on a house, if I have to finance anything else then it's probably something I don't need. What about canceling the cable/internet? There's an extra 40-100 bucks a month to put towards the debt. Downgrade the cell phone plans to the bare minimum, sure it means no more texting, surfing the web or unlimited talking but again, more money towards the debt. Can one of you sell one (or both) of the cars and get something basic, used and reliable (Toyota Corollas come to mind). After the short sale consider a one bedroom apartment. It's only in the last generation or so that we've convinced ourselves every child needs their own room and we need a spare and an extra bathroom and.....

Disney will be there in the future, but so will that debt if you don't get on it soon. There's a great saying that you can have everything in life, you just can't have it all at the same time. If you want Disney maybe that means giving up some of the other things (cable/cell phone/two cars). If you want the other things maybe that means giving up Disney.

Best of luck, just remember that a week with the mouse isn't worth risking your financial future

like i said the 2 cc we have are suspended and ones rate is 4% and the other is 3%..so we are doing pretty good with those..
my husbands truck is paid off..and we still have 4 years left on mine..which i already downgraded and got rid of my dream truck for a cheaper one..
we have the cheapest plan for our cells..
we already only live in a one bedroom condo with our 7 month old daughter!!!!!!!!..
whenever we finally sell we will be burning rubber and running from jersey as fast as we can...we are moving south..where my hubby will still get paid pretty much the same for his type of work and can live better..
we just gotta struggle through all of this..
i just wish it would pass already..we always seem to struggle with money...i hate it!

[DVC2004]

My feeling is if you can afford to sock a little away here and there (after you have your needs met)- then why not? It's good to have a goal and something to look forward to in life. It's very depressing to work and work and have all your money go to bills. If you skip ordering that pizza once in a while and make one at home, throw that $10 or $20 into the bank. Go sell your old clothes to Platos Closet or a your daughters old clothes/toys to a kids resale- throw it in the bank. It adds up. I don''t think there is anything wrong with putting aside for later if it will make you happy and will make life a little more enjoyable.

Hang in there- it will get better. It just takes time.

[diz_girl]

Brittany,

It's great that you have a payment plan set up with your credit card companies and that the interest rate is low and you are current with those bills and your other bills. That gives you some stability in your situation.

I'm going to be a little contradictory to what the others are saying. I think that you need to save a little bit for your Disney trip, so that you have a light at the end of the tunnel. Knowing that a Disney trip is 'somewhere' down the road is nice, but while it's still 'somewhere' and you're not planning for it, you won't get the mental lift from knowing that WDW trip is that much closer. So paying into a Disney fund (even if it is a couple of dollars) isn't wrong. It can help you keep your spirits up, which will benefit your family before you even get to WDW.

Oh, and maybe you should wait until the end of her second year to take her to WDW, rather at the beginning of the year. She'd still be two (and free for admission and at buffets), and you'd have a few more months to stabilize your financial situation and to save for your trip. Maybe take her the week after Thanksgiving in 2012. Thanksgiving comes early that year, so you can go while she's still two and enjoy the holiday festivities at the same time.

You probably have family and friends who want to buy the baby 'things' and want to buy you some'thing' for your birthday or some other occasion. Other than Christmas, if someone asks you what they can buy, just tell them that you want cash. Not a gift card, but cash. That is what you really need right now. You can tell them that you want to take your daughter to WDW and the cash can help towards the trip. I understand if you're not comfortable saying that, most people aren't. But people do appreciate the honesty and might be more receptive to the cash idea when they know you have a goal in mind rather than blowing it on something.

Good luck to you and your family.

[civilmousefan]

Unfortunately, I am on the side of those who think that you should get your finances in order BEFORE planning an expensive vacation. I know that there are way too many families that are really struggling financially.

How do you think you would feel if this was all behind you? You seem to have a plan to make this happen with the exception of putting money away for a vacation. I don't know your entire situation but I think you need to take a look and calculate how fast you could have your creditors paid if the money being set aside for a vacation was used to pay down debt. I think that in doing so - it would be paid off so much faster. Once paid off, I believe the satisfaction and relief you would feel would be better than additional years of debt for the price of a vacation.

I too have been in a situation such as yours and have forgone vacations and even nights out with friends in the past because of living paycheck to paycheck, paying a mortgage, car and credit card bills and raising a family. I worked hard at reducing my debt exposure and today am living debt free. I also had a little bit of luck - generally no health issues for myself or family.

I wish you good health and good luck - and hope that the future gets better for you.

[Dznygrl79]

My thought is keep putting the money away, as long as no emergencies arise where you are going to need to use the money. About 6 months before the vacation take another look at the fund, will it be enough for vacation and if so is it what you want, if its not what else would you like to do with it. But as long as you are in repayment and current keep putting it away, its always better to have savings.

[BrerGnat]

Your baby is only about 7 months old, right? Well, unfortunately, kids just get more expensive as they get older. Sorry to burden you with that news, but it's true.

I think, to be completely honest, that a vacation of any sort needs to be just out of the question for the forseeable future. You are in serious financial trouble (you already know that), and you should be thinking about your FUTURE finances as much as your PRESENT finances. I don't know how old you are, but you have to also be thinking about your retirement, your child's education, etc.

I am a firm believer that vacations are an earned luxury. Only when you have all your financial ducks in a row should you be thinking about spending money on luxuries (vacations, expensive clothes, electronics, etc.)

I hope your situation improves soon. Good luck on the short sale and the move to a more affordable place. I hear you on expensive living...I live in Orange County, CA. Talk about a money drain...

[DizNee143]

you all have very good points..for both sides..and i think i do put away money for just the reason dvc2004 said..its nice to look forward to something..have something fun to work for..
i guess i should of worded my orginal post better..we are broke..yes..but everything is taken cared of..it took about a month or two after Cheye was born to get back on track..but we have a system now..and nothing is being paid late..anymore..we get by..barely but we do get by every month..and when my hubby does get side jobs its not like we take the whole amount and put it towards the vacation..depending on what he makes i just take anywhere from like 5-25 dollars of it and put it in my disney fund..
and also..we wouldnt really have to save that much for the vacation..since my parents are DVC members..so the resort is taken cared of already..we would drive down..just really need spending, food, and ticket money..
and believe me we are already doing everything we can think of to live cheap! lol..
im a coupon/sale queen now and save so much now! its great!!
we havent been out in forever!!! last two times we went out to eat were mothers and fathers day..otherwise we dont do that..and the things we do try and do now are free..cuz we cant just sit at home lol..BORING!
i guess i just needed to vent..i just wish the end result of being able to live a bit better would come faster!
thanx for listening to me go on and on!

[betteratmk]

Brittany,

It's great that you have a payment plan set up with your credit card companies and that the interest rate is low and you are current with those bills and your other bills. That gives you some stability in your situation.

I'm going to be a little contradictory to what the others are saying. I think that you need to save a little bit for your Disney trip, so that you have a light at the end of the tunnel. Knowing that a Disney trip is 'somewhere' down the road is nice, but while it's still 'somewhere' and you're not planning for it, you won't get the mental lift from knowing that WDW trip is that much closer. So paying into a Disney fund (even if it is a couple of dollars) isn't wrong. It can help you keep your spirits up, which will benefit your family before you even get to WDW.

Oh, and maybe you should wait until the end of her second year to take her to WDW, rather at the beginning of the year. She'd still be two (and free for admission and at buffets), and you'd have a few more months to stabilize your financial situation and to save for your trip. Maybe take her the week after Thanksgiving in 2012. Thanksgiving comes early that year, so you can go while she's still two and enjoy the holiday festivities at the same time.

You probably have family and friends who want to buy the baby 'things' and want to buy you some'thing' for your birthday or some other occasion. Other than Christmas, if someone asks you what they can buy, just tell them that you want cash. Not a gift card, but cash. That is what you really need right now. You can tell them that you want to take your daughter to WDW and the cash can help towards the trip. I understand if you're not comfortable saying that, most people aren't. But people do appreciate the honesty and might be more receptive to the cash idea when they know you have a goal in mind rather than blowing it on something.

Good luck to you and your family.

A good gift card to request for birthdays and holidays is the Disney gift card. They can be saved and used for food, tickets or hotels

[BellesRose]

I think you should save. If there's an emergency, you already have the money. If not, you get a vacation. Plus, you may need that money for moving!

If my parents had waited until they were out of debt to take me and my brother somewhere, we'd still be waiting. We have never had a "real" vacation, but they did take us on short Disney trips once in a while (Which consisted of going to the Magic Kingdom, eating at McDonald's, and spending the night somewhere in Orlando). We also did a lot of day trips to different areas; just get in the car and see where we end up, which didn't cost much because gas wasn't that expensive back then and we ate fast food. I don't feel "ripped off" because other families got to go away for a full week every single year. I feel like I've had a better life than anyone, because I know how much my parents have struggled and still continue to, yet did everything in their power to give us everything we could ever need.

People can tell you to just wait until things aren't so tough financially, but let's be honest, that day may never come. If you can save money without getting behind on the rent, why wouldn't you?

[jrkcr]

I know people may not agree with this, but I think if you wait till DD is about 4 or 5 years old, she (and you) will enjoy the trip more. A 2 year old may end up being scared of characters, need more naps, and in general remember less of the trip.

Wait till she is older, and your money situation will be better too.

I do the "snowball" method to pay off our debts. You can find out about it from just a google search.

Hang in there!!

[kakn7294]

As someone who's been in a tough financial spot, I think that if all of your bills are paid and you can set aside a little money for a Disney trip in the future, then continue to do it. You can look at it as an emergency fund - there if you need it for an unexpected bill or to be used for your Disney trip if you manage to get all your finances in line. Sometimes it takes years to get out from the debt and you need to have a little fun here and there in life because if you waited to be debt-free, you might wait forever. Good luck to you! I hope things work out for you.

[SBETigg]

Brittany, what a tough choice! It's hard to wait when you really want to go, and they're only little once. We waited. Our kids were 8 and 10 before our first trip. And it was a long, hard wait, but it was almost so much sweeter for all the waiting and dreaming about it, and they loved it just as much as we always hoped. But it would have been nice to see their reactions to rides and characters when they were littler, too. It just wasn't in our financial picture back then, and I have no regrets for waiting until our situation improved and we could afford it without as much stress.

But who knows what the future holds. You have to do what feels right for you. Best wishes with making the very hard decision to go or not to go.

[BellesRose]

I know people may not agree with this, but I think if you wait till DD is about 4 or 5 years old, she (and you) will enjoy the trip more. A 2 year old may end up being scared of characters, need more naps, and in general remember less of the trip.

I actually agree, because a 4-5 year old will remember the trip, whereas a 2 year old won't.

[DizNee143]

I actually agree, because a 4-5 year old will remember the trip, whereas a 2 year old won't.

i know she wont remember it..and believe me i got my parents against me on it and everyone else i know giving their opinion also..

but my parents took me when i was 22 months..why cant i have the same experience with my child?!?

i dont care if she wont remember it..it will be more about the here and now..she will hopefully have a blast while we are there and will be happy and everything will be wonderful..and we will have tons of pictures!!

we'll be back again and again and she can remember those other trips..

i know it will be a completely different vacation if we actually get to go and im all for it..and its not like we are those phsyco park commandos that need to get everything done anyway..we are lucky we plan what park we want to go to the day before hand..lol..we will go slow and will go at Cheyes pace..i want to experience disney will my lil princess..

i had a different experience when we were there in sept..i was 7 months pregnant then..it was definitely different but still had an awesome and wonderful time..

anyways..
about the money part..
im gonna keep putting money away and if god forbid something happens and we need cash fast..i got it..if not..woohoo disney world here we come!!!!!