Back in the beginning, when we started our debt payoff, I made a Excel spreadsheet that listed all of our debts, from highest interest rate to lowest interest rate. I made our budget and figured out how much money we could allocate towards our debt every month. Then I went online, found this debt calculator, and plugged all the numbers into it. Shazam! We would have our debt paid off by October 2007. I made my goal December 2007 to give myself a little wiggle room, and rejoiced that I would enter 2008 debt-free.
It is now May 2008. I am not debt free.
Sometime in the summer of 2007, I re-did our calculations and determined that we would be out of debt by the end of April 2008. I continued with that assumption and even made it one of my goals for 2008. Now in May, we are in more debt than we were at the beginning of the year.
What happened? Life. Not planning for things. Not seeing the writing on the wall.
I counted our chickens before they hatched. I did the same thing before, back in the day when we accumulated all of this debt. I planned on using future money to pay for things, not thinking that the future money would vary and would be needed for more immediate concerns.
This was illustrated to me all too clearly at the beginning of the month. In November, we decided that, instead of exchanging gifts with my in-laws, we would all take a trip together. We scheduled that trip for the first week of May. I planned on being out of debt by the end of April, so I was psyched about the prospect of having no financial worries and relaxing in Mexico. Of course, that's not how it all turned out. We had to put our continued debt reduction on hold to pay for the trip, and there were quite a few stressful days where we weren't sure if we would have cash spending money to bring along with us. Not the relaxation I was hoping for. In the end, it all worked out, the trip was completely paid for, and we had a great time.
But moving forward, I will not be counting my eggs and making plans until they are chickens. Or at least not very rigid plans.
Showing posts with label travel. Show all posts
Showing posts with label travel. Show all posts
Friday, May 23, 2008
Friday, January 4, 2008
New Year's Eve Bait and Switch
This past weekend, my husband and I drove down to his parent's house to celebrate Christmas, New Year's, and both of our birthdays with them. On New Year's Eve, we drove into Baltimore to go to their Spectacular, complete with live music and fireworks.
We decided to go out to diner before the fireworks, and called the day before to make reservations. When I gave the restaurant my name, they also took a credit card number to hold the table and noted that, should we cancel our reservation, it would be charged $50. This should have been my first hint that trouble was afoot. Naively, I thought they needed to take credit cards because it was a busy night and didn't want to be holding a table for people who weren't going to show up. While I'm sure that was a part of it, there was more to it.
Before we went into Baltimore, I checked out the menu on the restaurant's website. The entrees ranged from $18-$40, which is much more than we usually spend. However, we knew that this was a special occasion and had prepared for it. I picked out a meal before we went for $21, planned to have one drink and then switch to water, and figured I was golden.
When we got to the restaurant, it was an entire different story. We pranced in and were told they were using a special menu for the night. OK, no big deal, I can pick something else to eat. Until I saw the menu. Then I freaked out.
Everything on the menu was a package - appetizer, entree, dessert, soft drink, coffee & champagne toast. There was no option to just pick an entree and call it a night. Worst of all - the cheapest package was $53. Our cost had essentially doubled and there was nothing we could do about it.
We considered leaving, but the $50 hold on the credit card made it pretty pointless to do so - any other place we chose to eat would cost about $50 and, with the credit card hold, we'd be right back at square one. So we stayed and chose to enjoy ourselves instead of getting angry and ruining the night. And you had better believe we got every single thing offered as an option.
The restaurant really handled the situation poorly. First of all, it was way too much food for one person to eat. Generally we split an appetizer or a dessert, never mind each ordering our own of both. I was bursting at the seams after eating everything out of spite. In addition, there was no mention on the website or when I called to make the reservation of the special menu with the higher prices. I really feel like we were duped and tricked into spending more money than we normally would. I'm not sure what the advantage of this is for the restaurant - obviously, the make more money, but we couldn't have been the only ones who felt tricked. It has turned me off to that restaurant and eating out in general - which, I suppose is good for the budget in the long run. I'm sure that won't last too long!
Afterwards, the fireworks were Spectacular!
We decided to go out to diner before the fireworks, and called the day before to make reservations. When I gave the restaurant my name, they also took a credit card number to hold the table and noted that, should we cancel our reservation, it would be charged $50. This should have been my first hint that trouble was afoot. Naively, I thought they needed to take credit cards because it was a busy night and didn't want to be holding a table for people who weren't going to show up. While I'm sure that was a part of it, there was more to it.
Before we went into Baltimore, I checked out the menu on the restaurant's website. The entrees ranged from $18-$40, which is much more than we usually spend. However, we knew that this was a special occasion and had prepared for it. I picked out a meal before we went for $21, planned to have one drink and then switch to water, and figured I was golden.
When we got to the restaurant, it was an entire different story. We pranced in and were told they were using a special menu for the night. OK, no big deal, I can pick something else to eat. Until I saw the menu. Then I freaked out.
Everything on the menu was a package - appetizer, entree, dessert, soft drink, coffee & champagne toast. There was no option to just pick an entree and call it a night. Worst of all - the cheapest package was $53. Our cost had essentially doubled and there was nothing we could do about it.
We considered leaving, but the $50 hold on the credit card made it pretty pointless to do so - any other place we chose to eat would cost about $50 and, with the credit card hold, we'd be right back at square one. So we stayed and chose to enjoy ourselves instead of getting angry and ruining the night. And you had better believe we got every single thing offered as an option.
The restaurant really handled the situation poorly. First of all, it was way too much food for one person to eat. Generally we split an appetizer or a dessert, never mind each ordering our own of both. I was bursting at the seams after eating everything out of spite. In addition, there was no mention on the website or when I called to make the reservation of the special menu with the higher prices. I really feel like we were duped and tricked into spending more money than we normally would. I'm not sure what the advantage of this is for the restaurant - obviously, the make more money, but we couldn't have been the only ones who felt tricked. It has turned me off to that restaurant and eating out in general - which, I suppose is good for the budget in the long run. I'm sure that won't last too long!
Afterwards, the fireworks were Spectacular!
Thursday, September 13, 2007
The best souvenirs are inexpensive
When I travel, it's on a budget. (Surprised?) But of course, I still like to get a few things to remind me of my trip. The last vacation I went on, a Caribbean cruise in February, I budgeted $200 for souvenirs and spent $203, including gifts and bottles of alcohol (cheaper in the Caribbean!). Here are my tips for great souvenirs on the cheap:
Buy local goods. No need to buy the same T-shirt branded with a different location. Get something that's really original. A great example of this is local food or liquor. When we were in St. Maarten on our honeymoon, we brought back local Guavaberry Rum, which we've never seen anywhere else. Last week my husband came home from his business trip in Hawaii with chocolate covered macadamia nuts. He bought them at Sam's club for $14.
Check out art. Here's something that will last forever and always remind you of your trip. The best part of buying a piece of local art is that it's authentic and unique. Often times you'll find pieces that are handmade. Not to mention that you're supporting local businesses, rather than imported goods mass produced.
Bargain, bargain, bargain. Lots of the best pieces are found in small shops. You can almost always get a better price on the pieces you find. The trick is knowing what you want to spend, then offering less than that so you settle on the price you have in mind.
Have a signature souvenir. Everywhere we go, my husband and I pick up a locally brewed beer, save the bottle and fill it with sand (or when we go skiing - snow). Since we would be buying the beer anyway, we get a great addition to our collection and they only cost $2 or $3. Similarly, my dad collects shot glasses from all his destinations. Other ideas could be key chains, magnets, spoons - anything that you enjoy and can find uniquely. They often cost very little and help assuage the need to buy something.
Make a budget and stick to it. Be realistic and disciplined. It's easy to get out of control when you're on vacation, but eventually you have to return to reality - and you don't want the souvenir of credit card debt to come with you. I use a cash system for souvenirs, and when it's up, it's up.
Buy local goods. No need to buy the same T-shirt branded with a different location. Get something that's really original. A great example of this is local food or liquor. When we were in St. Maarten on our honeymoon, we brought back local Guavaberry Rum, which we've never seen anywhere else. Last week my husband came home from his business trip in Hawaii with chocolate covered macadamia nuts. He bought them at Sam's club for $14.
Check out art. Here's something that will last forever and always remind you of your trip. The best part of buying a piece of local art is that it's authentic and unique. Often times you'll find pieces that are handmade. Not to mention that you're supporting local businesses, rather than imported goods mass produced.
Bargain, bargain, bargain. Lots of the best pieces are found in small shops. You can almost always get a better price on the pieces you find. The trick is knowing what you want to spend, then offering less than that so you settle on the price you have in mind.
Have a signature souvenir. Everywhere we go, my husband and I pick up a locally brewed beer, save the bottle and fill it with sand (or when we go skiing - snow). Since we would be buying the beer anyway, we get a great addition to our collection and they only cost $2 or $3. Similarly, my dad collects shot glasses from all his destinations. Other ideas could be key chains, magnets, spoons - anything that you enjoy and can find uniquely. They often cost very little and help assuage the need to buy something.
Make a budget and stick to it. Be realistic and disciplined. It's easy to get out of control when you're on vacation, but eventually you have to return to reality - and you don't want the souvenir of credit card debt to come with you. I use a cash system for souvenirs, and when it's up, it's up.
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