Holiday or not

LegacyUser

I am a 30 something year old woman with no kids, no partner, no house of my own. I house share and have very little to show for myself. I like it and I'm quite happy how things are except I haven't traveled at all in my 20s, never been on a holiday.

Over the past three years or so, the travelling bug has set in, I will often go off on my own on holidays. Friends are busy with their own lives being coupled up and they go with each other. Going on my own doesn't bother me, there's a world out there and if it means going on my own. There are so many places yet to see.

I tried the working holiday visa to Australia, which didn't work out but at least I got to see some of the country. I've been to the UK about twice, does that count as travel? And I've been to America twice as well. So about a handful of places. But I love going somewhere.

I'm currently looking and practically planning my next holiday. I love America, I met a guy over there as well, which isn't easy with the distance. There's no reason why I can't go again. Except my bank balance. I put a budget in place and I can have my next holiday saved up for by September. It's not to bad, I could have it worse. However, by the time I blow what I have saved up, I won't have much left. I have a few hundred at all times in my account. Nothing big. It's more than what the homeless have.

But I have one big worry. What I have in my bank account, it's not enough to fall back on should I need something. I have a fear of being homeless, I certainly don't have enough for a deposit and first month rent if I ever need to move on. It won't be enough for a van rental to move my things.

So here I am, j have a budget set out for my next holiday. By the time I have flights, accommodation, spending money sorted, I'm looking at a few thousand.

Am I mad to be even considering going back on holidays to America but not leave enough to fall back on. I haven't even been to Europe, that would be a cheaper holiday and I might get my holiday fix and not spend as much. But then I have my heart set on America.

What should i do?

silverharp

The fact that its bugging you suggests you should build up a small emergency fund, the US isnt going anywhere and there is plenty to do in Europe on a budget. if you are in anyway outdoorsie , there are some great walking holidays to be had in the more remote parts

amtc

How important is the guy?

twill

You could get a credit union loan for some portion of the cost. Or you could put off the US for a few more months and do a budget European holiday in the meantime. It really depends how important the US is to you at this point in time.

ncmc

I love to travel and love America, before my daughter came along, we used to go there on holiday every year. But with the way the euro is against the dollar, it is getting increasingly more expensive to go there. And with the way the rental market is at the moment, I think I'd be happier having a months deposit in my bank account just in case. Where in America we're you thinking of going? Is the primary reason to see your boyfriend? You mention him once but it's not clear whether you're going to see him. Could he come and meet you in Europe?

I think borrowing to go on holiday is a bad idea. You end up paying for the holiday, long after the sun tan has faded.

LegacyUser

I think you should prioritise saving over trips abroad. If you were in your early or even mid 20's I'd think blowing all your money on a holiday wouldn't be a big deal but you are in your 30's now and should have an eye on starting to settle down, get out of house sharing or even just as you said have something to fall back on if you need to move, had a period out of work and so on.

You say it would take till September to save enough how about putting it off till Sep 2018 even and save as hard as you can till then. This will give you a little bit of a cushion of savings and allow you to go on your trip also.

Faith

I think the first thing you should do is figure out where your money is going. Presuming you're working full time and aren't paying a mortgage or running a household with kids, then it seems odd that to me that you have so little money left at the end of the day.

What are your outgoings? Add up all of the necessities: Rent, bills, transport costs, insurance, groceries, etc. How much is left after the essentials are taken from your net monthly income?

I think you should prioritise a savings plan right now. At the very least, you need an emergency fund - enough to keep you going for 3 months, ideally, should you lose your job unexpectedly. You should also be trying to save a little every month to put towards something like a house deposit, or even just a holiday fund if you never intend to buy.

Traveling is a great thing to do, but not at the expense of your savings and security. I think you should absolutely look into travelling more, if it's what you'd like to do, but it is madness to consider spending thousands on a holiday when you don't even have enough savings for a deposit and first months rent if you needed to move house.

Lyle Lanley

Go to the states but spend less? Surely that's an option?

BetsyEllen

Are you going to America because of the guy? Is he worth a few thousand euro?

There are lots of fabulous places to visit in Europe for a fraction of the cost.
Is he willing to travel to see you? Maybe you could meet somewhere.

And if it's not about him then why go somewhere you've already been when you're not financially comfortable enough to do so, especially with Europe on your doorstep.

I think you'd be sensible to go on a cheaper holiday and put a bit of money aside for emergencies.

Also as another poster mentioned you should really look at your spending.
If you're single and house sharing I would think you'd have enough disposable income to be saving a good amount each month, not just for when you fancy a holiday but consistently putting money aside each payday.

woodchuck

Vacation wrote: »

Am I mad to be even considering going back on holidays to America but not leave enough to fall back on. I haven't even been to Europe, that would be a cheaper holiday and I might get my holiday fix and not spend as much. But then I have my heart set on America.

I think you should seriously consider Europe instead. I know you have your heart set on America, but as you've said, you've already been there a couple of times and haven't seen any of Europe. There are SO many lovely (and very affordable!) places to go in Europe.

You could shop around for a good deal on flights to a European distination for a weekend away to test the waters and see what you think? I'd bet anything you'll fall in love with the idea of exploring more of Europe and that would go a long way to solve your financial worries.

Also I hope it goes without saying, but there are loads of way to save money when going away. Cheaper accommodation (hostels, Bnbs, air BnB etc), traveling at off peak times, keeping an eye on airline sales etc. But also, don't just jump at a cheap flight. Check out the average rate of accommodation etc before you go, because otherwise a seemingly great deal will actually end up costing you more.

coolcat63

Correct me if I'm wrong but it reads like you're (mainly) going back to the USA to see this guy? Can he come travelling with you in Europe instead? Also, check out workaway.info and helpX.net for volunteering - great way to travel worldwide on a budget.

LegacyUser

I would be in a similar position to you.

I did consider going on a holiday to the Us this year but when I looked at the cost I decided not to. I want to keep my savings at a certain level. Instead I have decided to go to Europe later in the year.

I found http://www.consumerhelp.ie great for money advice. Click on tools and calculators and use the budget plan their to see where your money is going.

My advice to you is that you allow a certain amount to go towards a holiday in Europe and keep the rest in savings. You need to a build up a fund that will let you live and pay your bills for 3 months. I would set up a regular savings accout so that as you as you get paid x amount goes into this account each month.

The reality is that if you go to the Us you will come back with very little money and no one knows when you could have to move rental accomadation, have to change jobs or suddenly find that your boss only wants to give you 3 days work a week.
You need to start building up your savings and making long term plans for your future.

I know in the past I was spending money very easly and I got into debit. I started to look at what I was spending my money on and I started to make changes. I won't say it was easy at first but after a few months I realised it was worth it. Today I am in a position do several things because I have savings built up.

anewme

Like you, I never travelled till my (late) 30's and then got bitten by the travel bug! I try to have 2 holidays a year, one of which will be a long haul holiday every 2nd or third year.

Last year was my first time to visit states and I had 3,weeks there in 2016. I had a fantastic time there but I have no urge to go back anytime soon. Why?

It cost a fortune. Not only to get there but I was shocked at how expensive it is over there, eating out etc. Because I spent so much last year, I am only going on one short cheap holiday this year!

I'm lucky that I am financially fairly well off and have a fair bit of money saved and am well into paying off my mortgage. I would never borrow to pay for a holiday, especially in your situation - that you have no "rainy day" fund.

As someone else said, walking holidays like the Camino etc can be done on a budget and are fantastic.

The fact that you are asking here, indicates you know yourself you can't afford it.

Take the bull by the horns and set up some decent financial planning.

Money is not everything, but having been very poor once, there is nothing better than not having to worry if the fridge breaks, or the tv goes on the blink or something like that. I dont believe any money spent on travel is money wasted, but sometimes you have to cut your cloth.

LegacyUser

You have 8 months to save. I would say that's ideal for finding a part-time job specifically to save the budget for that holiday. You'll be even more excited about it knowing you've done those extra hours to achieve it.

dellas1979

Trytosave12345 wrote: »

but you are in your 30's now and should have an eye on starting to settle down, get out of house sharing

I think this is a total projection on to the OP (from your POV) and that type of comment and attitude puts a lot of pressure on people. Be careful with your words to another.

I know because I used to believe nonsensical comments like that. "You should..." best start to a sentence ever. Why should she?

OP its up to you to decide whats important to you. Life isnt about have X at Y age. Or have done X by Y age. If you want to travel, yes, money is required, save up. If you want to do shorter distances (Europe) and save money at the same time.

The best part of this post is youre interested in travel, youve the whole world to see, and are still so young.

It up to you to find a way that makes you comfortable.

Tigger99

If you had a rainy day fund I'd say absolutely go but I'd imagine struggling to afford a place to live if you had to move when you came back would dampen any happy memories you made over there. It's not an either or. You could go to the states for a shorter period of time or do mini breaks in Europe instead.

The fact that you worry about being homeless suggests that you know deep down that not having a months rent and deposit saved up is foolish. Like another poster said I'd be looking at where you spend your money. Look to see if/where you can make savings.

sashafierce

This post has been deleted.

pilly

Definitely go somewhere in Europe. When money is limited I would never return to the same place for holidays. So many places out to see.

Open a credit union account and save money there. You will enjoy a holiday somewhere in Europe much more knowing that whatever happens you've enough money to find somewhere to live.

ManOfMystery

Would a part-time job (for a while) be an option so you can take the wages from that and stash them away, to build up an emergency fund? Some people are very adept at saving, others like to live one day at a time - but certainly, to avoid that fear of being homeless, I personally take the approach that there should always be at least enough stashed away to cover a month's mortgage/rent and some other necessities.

LegacyUser

Hey OP - no reason why you cant start to build up some savings and also go on holidays.

Open a credit union account and start building up your credit by starting with small loans, gradually you will be able to borrow more and pay back monthly.

Id also open a savings account with your bank that you cant touch ifI was you. I have a 40 day notice account that I put money in every month and so if I ever needed this money I'd have to plan to with draw in advance, it cubs impulse spending on my part.