How long does it take you to save for a trip.
 

For 3 weeks in Europe it usually takes
me 1-2 years to save. I usually spend $3000-$4000.

I know some of you are fortunate enough not to have to scrimp and save, but I know some of you are like me and have to budget.

This thread could go any number of directions... and logically depends on age, partner/spouse status, dependents and stage in career (or other income generating life cycle). Hopefully, the question refers to <u>totally</u> <i>discretionary</i> &quot;savings&quot; - - which (rightfully should) come after <i><u>planned</u></i> (and ideally, untouchable) savings. These planned savings might take some differing forms (and clearly differing percentages of income)... including employer-matched, fully tax-deferred (e.g., 401k) savings... or as mundane as building extra (accelerated) equity in (primary) residential (or other) real estate, by paying ahead on a mortgage. Just to name two, besides plain old putting money into the bank (or other appropriate investments).

If you are already saving a well-thought-out x or xx% for your <i>planned</i> nest egg, then I think some discipline or specific priorities will allow many people (here on this forum) to save an additional x, or even xx% for travel and other true discretionary spending. Every few years... or even every few months.

Best wishes,

Rex

Hello JandaO, I agree with rex's comments 100%..that is what I do.

I don't travel as much as I would like to but I feel blessed to have travelled as much as I have.

I, at this point, am not going to be able to accept a lovely invitation from a good friend to join her in Paris this year. I wish I could but I am rather conservative so I don't take trips unless I know I have the money up front..and I don't touch money that is delegated for other expenses. I have been this way all my life so I know this is what is the best for me. But I know many people that handle their fianances differently and that seems to work for them. Well until they have unexpected emergencies and than they do sort of seem to panic!

It sounds like you and I think along the same lines regarding trips and finances. Best wishes..and hope you are able to go to Europe soon!

I always justify my trips by saying that if I stay home, I'm still going to need to eat, run the air-conditioner more, run the hot water heater, fill the gas tank, and eventually go somewhere, so I just go to Europe.

Wally: Let's just say I like the way you think and leave it at that.

I use my annual bonus and my extra 2 paychecks a year for my travel fund. I am paid bi-weekly and my budget is based on 2 pay checks a month. Two months a year I end up with 3 pay checks, which seems like free money because it is outside the regular budget.

By using credit cards for many parts of our trip, we space out our vacation spending- almost like a &quot;vacation payment plan!&quot; Rather than saving all of the money upfront, we pay in increments- i.e., plane tickets are paid for several months before the trip, then we set aside spending money for the trip itself, and then hotels, rental car, and other chargeable expenses are paid for in the month or two after we return.

Granted, we are a &quot;young and carefree&quot; couple with no children yet, so this is a bit easier for us. But by putting aside just 1/3 or so of the trip at a time, we are less daunted by the overall budget (which might very well prevent us from going if we needed it all at once).

I have a much simplier plan....

Let hubby pay for it....

he he he ...only kidding

Our problem is finding the time - not the money. In my experience this depends on time of life - when you have the time you don't have the money - and vice versa.

As for saving - we don;t save for separate things - the current savings (as opposed to retirement) all go into one place and we just pull whatever we need at the moment.

We're going on our 2 week honeymoon to Europe next month, &amp; have allocated $3000 per person NOT including flight - took about 5 months to save... Sadly, I had to cut on my shopping habit, but it's totally worth it. We'll mostly use credit cards, some cash &amp; pay them off when we get home. I never care if I have a couple grand in credit card bills after vacation b/c it's totally worth it. If I can't go all the way, I stay home &amp; wait until I have enough $$ saved.

It takes us about a year. We put a specific amount of money aside from each paycheck into a separate savings account for our vacations. We also put all gift money (Christmas, birthday, etc) in that account, as well as any tax refunds that we get. We usually travel during off-peak seasons to get the most out of our trip. All of this allows us to take about two trips to Europe every year.

Tracy

Save? What's that? I always seem to overpay my taxes (darn accountants) - I have to pay quarterly - so the refund funds the trip and I convince myself that I'm not actually dipping into savings. If you just can't save and have only W-2 income, don't claim any exemptions and voila - automatic savings and extra trip money. DISLCAIMER - this e-mail should not be construed as tax advice . . . .

I make about an average salary but I'm very good about putting away X amount of dollars every month - my employer deducts it automatically. I also drive an older car and I live pretty simply. I'm not married and have no kids, so that keeps the costs down, too. I can now take a major vacation once a year, once in a while twice a year.

But in 3.5 years my house will be paid off, then look out!! woo hooo!!!!

&lt;&lt; I always seem to overpay my taxes (darn accountants) &gt;&gt;...

I would either fire those accountants... or stop making that first quarterly payment!

I guess there are a variety of bad ways to save money (and the worst is not at all), but letting the government use it interest-free all year long is surely among the poorer choices one can make...

When young I just packed up and went whenever and where every I want. Now that I work for myself its harder to save and leave.
Last year I went on my first big trip in 20 years. Back in the saddle I have decided I am going to keep it up.
My plan is smaller trip this year and Greece, Turkey, Middle East next year.
I started saving on my return last year and the big trip will take me a year to save for.
I made a huge sign for my Fridge:
Need - Not Want = Greece
We all waste a lot of money on junk now I ask myself do I need it or just want it.
I just book the Greek Islands Cruise part last Friday something like that helps you save as well.

For the past ten years or so we put loose change in a big water cooler jug at the end of every day. We referred to it as our &quot;baguette money&quot;. We were very pleased when we finally took it to the bank and had it counted -- $920 of effortless, painless saving. Now I'm even more motivated to put change in the jug.

What TarheelsInNj said....

I am already putting 20% of my paycheck into a 401K, so I am saving. Some money goes directly from hubby's paycheck into a savings account. For a couple of months before and after, I try not to use the credit cards for anything but tickets etc, which gets paid off in advance, and what we spend on the trip is paid off after. (We put a certain amount of cash aside to spend on daily necessities, ie B&amp;B and food, but charge any &quot;frivolous&quot; stuff, like gifts for folks at home and me!)

First step, I need an overwhelming desire to go somewhere specific, for me I never know when or where those ideas will come from. Then if I can get time off from work, I buy a plane ticket. I book a hotel. That's it.

Depending how far in the future the trip arrangements are, I usually have paid off air and hotel pre-trip. And take remaining expenses from my savings.

I am single, self-supporting, no dependents, not in debt, so am comfortable traveling without waiting until I have every penny saved ahead of time. Travel has always been and will always remain a line item in my budget (that is if I had one).