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Disneyland or pay down debt?

post #1 of 111
Thread Starter 
My husband I already agreed to put our entire tax refund towards paying down cc debt. We owe 17k total but after the tax refund, it will be down to 12k. : It looks like there is going to be another stimulus so we should be getting $1200 for that. We haven't had a vacation in over a year and I really wanted to take that money and take a road trip to Disneyland. We could pretty much do it for that amount of we stay in very cheap hotels, do our own food sometimes out of a cooler, and has prices should still be low.

My husband thinks we should pay down debt and skip a vacation. What would you do? My girls haven't been anywhere fun in a long time. We used to take tropical vacations but that is a thing of the past now. My oldest daughter is always asking when she will see the ocean again. I don't know. I just feel like you still have to live your life, and at the same time, this debt is such a burden.
post #2 of 111
I would pay down debt and not go on vacation. It stinks but 12k is still a LOT to owe.
post #3 of 111
I dunno, what's the other stimulus? I haven't been paying attention. I just filed last night and also plan to use some of the money to pay for a trip to Disney Land this summer. I'm not sure what I'd do in your situation, being in debt is a downer, but a family vacation is memories that will last a lifetime. Sorry, not helpful My DH would also say pay bills, I say let's take a trip!
post #4 of 111
Pay down the debt.
post #5 of 111
Debt.

Hands-down you should pay off the debt.
post #6 of 111
There are no other stimulus checks in the second stimulus bill that is being tossed around in Congress right now. At best, there will be a $500-$1000 rebate that will be spread throughout the year by employers adjusting withholdings. No lump sum.
post #7 of 111
Pay down debt.

Last summer we vacationed at home and had a great time. Disney is way out of our budget, and we don't have cc debt.
post #8 of 111
I wouldn't personally go on any vacation in that situation.
post #9 of 111
If your family had never been on a vacation or something, perhaps it would be different, but if it's only been 'over a year', then....I'd wait for a bit. We haven't gone anywhere in several years now, and probably will go this summer for a weekend getaway.
post #10 of 111
Quote:
Originally Posted by Sonnenwende View Post
There are no other stimulus checks in the second stimulus bill that is being tossed around in Congress right now. At best, there will be a $500-$1000 rebate that will be spread throughout the year by employers adjusting withholdings. No lump sum.
thanks for the info!

and OP, I think I agree with all the reasonable people here. $12k is a lot of money to owe.
post #11 of 111
I would wait to go to Disney Land simply because your children are still so young. I went to Disney Land at 5 years old and I couldn't tell you a thing about it. I barely remember going to California at all and then nothing about Disney Land. Maybe a little of Universal Studios and that I ran into the Pacific Ocean and got into trouble...other than that...drawing a blank here.

$12k really isn't that much and you should be able to pay that off in a reasonable amount of time. I'd just go to a large in-state lake if your daughter wants to go to the beach for right now.
post #12 of 111
Quote:
Originally Posted by Sonnenwende View Post
I would wait to go to Disney Land simply because your children are still so young.
oh, yeah. We've been to both Disneyland (several yrs ago) and DisneyWorld (this past summer). I do think that if it's a once in a lifetime type of thing, waiting until they are 8ish or so is the ideal age to go. My DD doesn't remember anything about DL when she was 3, but DH and I remember her face lighting up and the fun that she did have.

ETA: I was typing as you were editing out my quote sorry!
post #13 of 111
yeah, there's not going to be another stimulus package that just sends out checks, at least not anytime soon.

I definitely wouldn't go to Disneyland if I had 12k of CC debt left, either.
post #14 of 111
I just think this is a very personal choice, dependent on many factors. First of all, $12,000 in credit card debt sounds like A LOT to many people on this board... But to some, doesn't seem so bad. I think it depends on your income level, your interest rates, whether you get a bonus each year, how soon you will have something else paid off that you can then tack on to your credit card payments... Depends if you are paying only minimums the rest of the year or if you are sending a big chunk, etc. etc.

$12,000 @ 5.99 = I would go on a FRUGAL vacation.

$12,000 @ 24.99 = I would stay home and send it ALL to credit cards.

Feeling very stable in your current job situation = I would go on vacation.

Feeling at all shaky about your job situation = I would wait until cc paid off.

And the list goes on.
post #15 of 111
What about doing a road trip vacation in the local area? Camping or seeing local sights (like the things you never see until relatives from another country come to visit, and you have to do stuff with them) would still be fun but not as expensive as Disneyland.
post #16 of 111
I think a good measure of just how big a debt is for an individual is to ask how long it will take to pay off.

If you can pay off that cc debt in a few months, then you only have to wait that long plus however long it takes to save up the money for the vacation to go on vacation.

If it will take years to pay of the debt, then you simply can't afford to go on vacation.
post #17 of 111
You would all get more out of Disney if you waited a couple more years... I know it's hard to see big chunks of $ just disappear to pay down debt, but, you'll feel better in the long run! Try a local vacation this year, your kids will remember more about the good times you have being together rather than where you go...
post #18 of 111
Maybe there is a compromise between a disney land vacation and just paying off debt? Like maybe 80% does to debt and 20% goes to a nice long weekend?
post #19 of 111
Thread Starter 
Wow, thanks for all the responses! It's put things into a different perspective for me. I'll address some of what was said:

1. Yes, having not vacationed for one full year is not so bad, and yes, we could go camping this summer, decide to invest in a tent and sleeping bags for a very small fraction of what it would cost to do Disney even on a budget.

2. Yes, my kids are still very young. It would still be fun to watch them enjoying themselves but they probably wouldn't remember it, especially my 2 year old. I'm also a little selfish in that I'd like to go for myself as well, but then, it is not so great to not be able to go on rides with my husband. If we waited, we could probably plan it better and get the grandparents to go.

3. Our cc debt IS huge and it is going to feel GREAT to make that almost 5k payment towards it. That should inspire us to do anything to keep it going down as fast as possible.

4. The card is at 23.99% If there is no stimulus rebate as someone mentioned, then nevermind, but if there is, then that $1200 would cost a lot more in terms of how much interest I would pay on the $1200 I chose not to pay down instead.

5. Good things come to those who wait, right? I am going stir-crazy being unable to afford a decent vacation, but I should be grateful for what I have and know that next year, maybe, we will be debt-free and be able to pay cash for a vacation, and therefore enjoy it that much more.

I think I've made up my mind. It's hard but I think any money we get from anywhere is just going to be dedicated to the debt until we are free. Nothing is better than that freedom! Thanks again!
post #20 of 111
Oh my heavens.... pay down the debt!!! This is very much a no-brainer.

Come summer are there public pools you can go to? There are other ways to have fun than go on vacations.
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