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Jealous. I would like to go on cruises so I can get to see more countries at an affordable price. Of course, it limits your time in each country (that's the downside).
We go on cruises to get the flavor of the country and then return for a land based trip if it interests us.
This is a question that has been on my head ever since I joined these boards (well long before but this is the only place that focus on it) and have seen so many posters talking about their expericnes over seas. I just read this thread and this poster said something along the lines of "I have lived in the Caribbean and traveled to 5 nations/territories (multiple islands) thus far. I briefly studied in the UK and traveled to 8 European nations in total". How!?
What is it exactly that people could do for a living at where they are able to afford the cost of flight, room and board and traveling expenses and food. If you studied aboard--that is still very expensive! Cost of tuition is more not to mention you generally have to make an upfront payment fee to the school to even be considered. Just how much credit do you have ? I am sorry but these trips sound as if they are reaching into the 5-10 thousand marks and for people like me that is really pushing it beyond the limit. Credit ? I doubt many 'smart' people would willing put themselves in that much debt for this.
How are you guys able to take time off of work for such a long period of time and not in the least bit be concerned about money or other issues. I am asking because (much like everyone else) I desperately want to travel more but I severely lack the funding to do so. I am a college student who just recently got released from a temp job who has about 3 months left on a car payment. I wont even mention how I see my living situation changing soon.
So please inform me. You guys are clearly doing something I am not. If you do not wanna spill 'The Secret" then damn it (!) PM me because I wanna be in on this secret society!
I love traveling. Each year, I take at least 3-4 trips. Some of the trips are to other states, but I always make sure that I take at least 1 trip a year out of the country, even if it's just to Canada or the Caribbean.
My professional job pays well, so I am able to set aside money specifically for travel purposes. Also, I receive around 6.5 weeks of vacation (including holidays and personal leave time) off each year.
You mentioned that you are a college student. Have you looked into study abroad programs? When I was in graduate school, I traveled to Geneva Switzerland, as part of a summer study abroad experience. Definitely speak with your school to find out which programs are available to you.
I didn't read the entire thread, so I'm not sure if anyone mentioned time shares. In my opinion, time shares are a wonderful option. My mom owns a timeshare which entitles her to a 7 day vacation each year. If she elects not to use the time share, she can carry over the week to the following year, meaning, she can then take a 14 day vacation.
Time share properties tend to resemble condo units, but they are fully furnished, which is great, because you can cook a few nights a week, instead of eating out each and every day.
If you own a time share and are a member of interval international, you can trade your time share unit for a different timeshare resort, anywhere in the world. My mom has traveled all over the world, via her timeshare. Time shares are great for families.
If you are thinking about investing in a timeshare, it's important to set a good max. budget, to avoid over paying for a unit. Also, try to stick with deeded properties, instead of the point system. My mom's time share in Aruba is a 1-bedroom deeded property. She paid less than 10K for it, but the unit is very nice and the amenities at the resort are wonderful. The only downside is the yearly maintenance fees.
A 400K home is affordable if a person or couple makes at least 210K/year.
You don't need to make that much. I have friends who make about $150K between them, no debt other than the mortgage, and they are living comfortably in their $400K home. They don't have a lot of extravagances, they drive modest cars and don't eat out every night, but they aren't scrimping and certainly can afford dinner and a movie every week.
I didn't read the entire thread, so I'm not sure if anyone mentioned time shares. In my opinion, time shares are a wonderful option. My mom owns a timeshare which entitles her to a 7 day vacation each year. If she elects not to use the time share, she can carry over the week to the following year, meaning, she can then take a 14 day vacation.
Time share properties tend to resemble condo units, but they are fully furnished, which is great, because you can cook a few nights a week, instead of eating out each and every day.
If you own a time share and are a member of interval international, you can trade your time share unit for a different timeshare resort, anywhere in the world. My mom has traveled all over the world, via her timeshare. Time shares are great for families.
If you are thinking about investing in a timeshare, it's important to set a good max. budget, to avoid over paying for a unit. Also, try to stick with deeded properties, instead of the point system. My mom's time share in Aruba is a 1-bedroom deeded property. She paid less than 10K for it, but the unit is very nice and the amenities at the resort are wonderful. The only downside is the yearly maintenance fees.
The maintenance fees go up every year, and the value of the time share goes down every year. Overall they are not a good investment.
Also you can't always trade. I knew an idiot who bought a time share in the Poconos with an April week. Useless trying to trade to anyplace anyone actually wants to go. When she bought she was promised Hawaii and all sorts of other places, so far she hasn't been successful with a single trade, and it's been 10 years. So now she's stuck with a property she can't sell and doesn't want to use, and is thinking about just giving it away to be able to not have to pay the maintenance any longer.
The maintenance fees go up every year, and the value of the time share goes down every year. Overall they are not a good investment.
Also you can't always trade. I knew an idiot who bought a time share in the Poconos with an April week. Useless trying to trade to anyplace anyone actually wants to go. When she bought she was promised Hawaii and all sorts of other places, so far she hasn't been successful with a single trade, and it's been 10 years. So now she's stuck with a property she can't sell and doesn't want to use, and is thinking about just giving it away to be able to not have to pay the maintenance any longer.
You are right about the timeshare maintenance fees increasing each year, but if you purchase at a reputable resort, the fees will not increase too much. My mom has owned for over 15 years. Her time share is in Aruba, but her fees have only increased by $200. I do however realize that this varies greatly per time share unit.
Timeshare owners can trade their week(s) at anytime, if their resort is a member of interval international (Interval International | Resort, Timeshare, Exchange, Getaways, Vacation). Typically, you have to plan (by putting in an exchange request early) if you want to travel somewhere that is very popular, but right at this present moment (on the interval international site) there are thousands of units available for trade all over the world.
I do not believe people should purchase timeshares soley for investment purposes, because they do not typically appreciate in value. However, they are great for families who enjoy traveling the globe and staying at luxury condo-like units, without spending money on accommodations.
In June, I traveled with my family (via timeshare) to the Marriott's Palm Desert Resort (country club) in Palm Desert, CA (near Palm Springs). We had a wonderful stay and the best part was, we had a top of the line luxury fully furnished condo unit.
Last edited by Christine_565; 08-15-2014 at 12:03 PM..
You don't need to make that much. I have friends who make about $150K between them, no debt other than the mortgage, and they are living comfortably in their $400K home. They don't have a lot of extravagances, they drive modest cars and don't eat out every night, but they aren't scrimping and certainly can afford dinner and a movie every week.
I'm extremely conservative, with respect to my finances. I wouldn't purchase a 400K home, unless my combined income was at least 210K. I do however realize that many people opt to purchase 400K homes, w/ lower incomes. I do not place any judgement, I was really just using conservative figures based on my comfort level.
I wouldn't purchase a 400K home, unless my combined income was at least 210K.
Me neither, or maybe if I had a enough of a downpayment to bring the loan well under $300k. But I think we're oddballs like that, especially compared to those entitled characters on HGTV. Which is probably why we're always hearing so much about debt crises at all levels of society.
I'm extremely conservative, with respect to my finances. I wouldn't purchase a 400K home, unless my combined income was at least 210K. I do however realize that many people opt to purchase 400K homes, w/ lower incomes. I do not place any judgement, I was really just using conservative figures based on my comfort level.
If you can't carry $3500 PITI on $7500 take home pay (after a 15% contribution to 401Ks), something is seriously wrong with you. That leaves $4000 a month left over for utilities, car insurance, food, clothing, additional savings, etc. Even a $400/mo car payment for a new car would be quite manageable.
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I would like to go on cruises so I can get to see more countries at an affordable price. Of course, it limits your time in each country (that's the downside).
So now she's stuck with a property she can't sell and doesn't want to use, and is thinking about just giving it away to be able to not have to pay the maintenance any longer.
