Holidays

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vishpatel
vishpatel Posts: 184 Forumite
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in Budgeting & bank accounts
Hi Guys,

I'm currently saving for my first home, 27yo, filling my savings pot by living with family.

I save about £1100/month, and wanted some advice on how I should budget for holidays.

I've found it easy to stick to other parts of my budget like Social, Food, CDs/Electronics etc.. and I've tried to limit my holiday spending to £100/month and I'm finding it very difficult!!

Recently I've had a lot family holidays/weddings which I'm pretty much required to go on, and these have been drying up my well :(

I've booked a flight to Thailand later this year with some mates - this will be my first holiday with friends for 2 years (not counting a couple of weekend stag trips) - I really think I deserve it. Unfortunately it's going to blow my budget wide open, and I will either have to increase the £100/month allowance, or miss out on a holiday completely next year!

Can anyone offer any advice? I don't need help on cutting specific costs like flights/hotels/insurance etc.. because I'm OK with that - more on whether £100/month is fair... Some people say you shouldn't deprive yourself, whereas I'm very aware of the need to set limits.

Thanks in advance!

Comments

  • tinalives
    tinalives Posts: 903 Forumite
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  • vishpatel
    vishpatel Posts: 184 Forumite
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    tinalives wrote:
    Well you live within your means - I haven't had a holiday for 5 years.

    I'm having trouble figuring our what my means are though!
  • tinalives
    tinalives Posts: 903 Forumite
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  • vishpatel
    vishpatel Posts: 184 Forumite
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    tinalives wrote:
    Try clicking on the 'Budgeting' link at the top of the page, and use Martins budget planner - that should make it much easier to see what you can actually afford.

    I've done all that already!

    I didn't specifically mention my salary which is £33K. After my budgeted expenses, I manage to save £1100/month.

    Just wondering if people think £100/month on holidays is reasonable....? I'm finding it difficult!
  • tinalives
    tinalives Posts: 903 Forumite
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  • realaledrinker
    realaledrinker Posts: 1,661 Forumite
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    Sounds like your savings jars are more like 'silos' - i.e. you aren't prepared to "borrow" from one jar for a period & pay back later from the other "jar". If you are prepared to make do with a week in Margate next year, why not blow out on a holiday in Thailand. You might not get the chance again for a long time.

    Plus I can't believe anyone living at home on £33K a year has short-term budgeting problems!!
    Ethical moneysaver
  • johannamse
    johannamse Posts: 498 Forumite
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    I believe holidays are very important in life. It doesn't matter whether you go camping in Wales or to Thailand. I think 100 is fine. You are young and fit and should be seeing the world. It sounds to me like you feel guilty spending this much. If this is the case, why dont you cut back on other areas. Why not cut out CD's for a few months, or clothes?? If I am wrong, then sorry. I also think that if your holiday budget is 1200 a year, why not spend 1700 this year and next year go for a week in Egypt or Morrocco (equally as exotic) for 800 next year??
  • Little_Miss_Winner
    Little_Miss_Winner Posts: 4,168 Forumite
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    If you can afford, then go for it, and don't feel guilty!
  • Spendalot_2
    Spendalot_2 Posts: 59 Forumite
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    If you are providing for your future, and saving for the day you will move out of the family home, pension etc etc then you dont seem to have any real problems.

    If holiday makes you happy, just double the budget and enjoy them!!!
  • homersimpson_3
    homersimpson_3 Posts: 1,249 Forumite
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    i don't really understand the problem here- you save 100 per month for holiday and 1100k for long term. how much does a holiday to thailand costs- if you spent 3k (a large amount) at most it's only 3 months savings. so what if your futuure savings are reduced by 3 months? if you're earning 33k it's easily made up! your savings alone are substantially more than most people earn in a month and alot of people haven't had a weekend (let alone a holiday) in more than 2 years. consider yourself lucky and enjoy your holiday. you seem to be worrying over very little.
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