I want to be clear on something I feel is important. If you can be responsible with your money there is no reason you can’t enjoy it now and enjoy it later. Responsibility is, and always has been, the key to this equation. When you get a job you are asked to be a responsible steward of your company. When you are asked to babysit you must be responsible for the care of someone else. The same thing goes for how you manage your money. It is possible to both live well and responsibly.
If you are up to your eyeballs in debt then you need to keep your spending in check and focus on the task at hand. But so many finance writers focus on saving, retiring, and debt elimination. When is the last time someone told you it is OK to spend your money? I want you to know that it is OK when you plan it out and pay in cash.
It doesn’t do you any good to collect a lot of money and sit on it like Scrooge McDuck. If I had a tower of money I could swim in it, it wouldn’t be as much fun as some of the things you can do with it though. I don’t advocate being irresponsible with your money but I want you to enjoy it and your life now and in the future.
The reason I bring the subject up is a vacation we are planning on taking later this year. It is to one of those all inclusive deals in the Caribbean. I could certainly find cheaper places to go but this is one of our dream vacations. We aren’t talking about chump change either. In all for me, my wife, and two kids we are looking at around $7,500.00 for one week vacation at an all inclusive resort. That includes the food, drinks, activities, and airfare.
A lot of people would balk pretty quickly at a $7,500 vacation. I mean hell most people in the finance community wouldn’t pay that much for a car let alone a vacation. I am sure there will be some interesting comments about my choice but to me it is worth it. We are going to pay cash for the vacation without affecting our current savings, retirement, or other obligations. Having eliminated the last of our consumer debt it is a great way to reward ourselves for the last several years of sacrifice.
So you tell me would you be willing to pay $7,500.00 to go on vacation and enjoy the now or would you sock it away for the hope of something you might be able to do later?