Saving for Kauai

[Iggy aka IG]

After many years of spending our "vacations" to see family, it's been a want of DH and mine to travel for fun.  I disclosed to him last night I'm going to start saving for a vacation (this former credit card abuser used to put it on plastic, and pay later) and we then discussed our options.  We decided on Kauai since we were not able to go for our Honeymoon as originally planned years ago.

Which leads me to:  Have you ever saved for a major vacation or purchase, and what steps did you take? 

[Wisconsin Beth]

Shortly after our daughter was born, I started having $50 per paycheck deposited into "vacation account"  When DS came along, I bumped it up to $75 per paycheck.  It's officially earmarked for Disney but I have no intention of stopping the direct deposits into it.  DH used some to buy the camper.  We've used some to pay camping fees.  DH and I have have used a couple hundred of it on trips for just us.  And we think of it as our backup medical fund too.  We've been paying most of our share of medical bills out of general checking but DH and I are in agreement that if push comes to shove, we'd use this fund for it. 

I think we're going to cross into $7K in it soon.  If we hadn't dipped into it for anything, I think we'd have around $11K in it.  I think Disney is happening in the next year.  After Disney, I think it becomes "Take a trip to Europe" with the kids.  DH's never been and I want to go back.  I also want to poke around the US with the kids.  We might do that before Europe. 

[kindthatjingles]

Automated savings.
Figure how much you will need per month to have your goal and automate it.
Deal without the money and adjust the budget.

[Iggy aka IG]

Beth, how often to you get paid, if you don't mind me asking?  Monthly, weekly or bi-monthly?

jingles, excellent idea!

[Wisconsin Beth]

May 7, 2014 10:54:50 GMT -5 Iggy aka IG said:

Beth, how often to you get paid, if you don't mind me asking?  Monthly, weekly or bi-monthly?

jingles, excellent idea!

biweekly, so 26 checks most years.  Every 8-9 years there's a 27th check to drag payperriod 1 back to Jan. 1st. 

edited - this is automated.  There's no way we'd be doing this if we had to handle it.  We're very good at "set it and forget it" financials. 

[Iggy aka IG]

May 7, 2014 10:58:22 GMT -5 Wisconsin Beth said:

May 7, 2014 10:54:50 GMT -5 Iggy aka IG said:

Beth, how often to you get paid, if you don't mind me asking?  Monthly, weekly or bi-monthly?

jingles, excellent idea!

biweekly, so 26 checks most years.  Every 8-9 years there's a 27th check to drag payperriod 1 back to Jan. 1st. 

edited - this is automated.  There's no way we'd be doing this if we had to handle it.  We're very good at "set it and forget it" financials. 

Understood and agreed!  I set up a very minute auto-transfer amount to a new savings account in March (part of my baby steps process, LOL!).  I've found I want to see round numbers in there, so I've been manually transferring more into it since then.  Am thinking I should just go ahead and change the auto-transfer to the larger amount.  We'll see.

So, does anyone auto transfer to more than one account?  I started the above for an EF reason, but perhaps I should open another vaycay account?

[Wisconsin Beth]

My preference would be for multiple accounts  - or maybe switching to an online account that breaks the deposit down into the subcategories and percentages I designate.  But DH doesn't want to do that.  And I don't want it enough to fight for it.  DH does the vast majority of our finances.  We have difference styles and preferences (although we are on the same basic page, more or less) and I tend to concede since I'm not the one doing it.  If that makes sense. 

[Iggy aka IG]

Beth, it sure does make sense.  And, good job picking your battles. 

[Wisconsin Beth]

Yeah, he didn't see the point of the vacation account when I was setting it up.  But he and I had been together about 8 years at that point and we STILL had several vacations we wanted to do but didn't due to money.  Since I was damn sure Disney was going to happen and I knew I had other trips I knew I'd want to take, I set it up.  I don't think he thought I'd pull the trigger, in all honesty. 

And since then, he's conceded several times that it's great to have it and that there's trips he wants to do with the kids and knowing we've got a start on funding them is good.  So there may be arguments over what trips to take in our future.    But that beats arguing over being able to afford them in the first place. 

[The Walk of the Penguin Mich]

Yes, when I went to Greece and Turkey the first time. But I didn't do it via deposits in a bank but a big-assed ugly ceramic pig that had no way of getting the money out.

What I would do is empty change out of my pocket each night. Any money I got from blood (I participated a lot as a normal WBC control for research labs) or unexpected sources (birthday, Christmas, etc). I wasn't making much at the time, only about $25K/year but after about 3 years, I wound up with over $1000 in $20 bills and nearly $900 in change. Along with miles from a frequent flyer miles, I made a reservation to Athens 350 days in advance, so that gave me nearly a year to top off my pig.

When I made the flight reservation (I had a decent idea how much money was in the pig), I broke it and deposited the money into a savings account that wasn't linked to anything. I figured that I needed about $2500 to go, so managed to add another $600 to that the last year.

[Iggy aka IG]

May 7, 2014 11:54:15 GMT -5 The Walk of the Penguin Mich said:

Yes, when I went to Greece and Turkey the first time. But I didn't do it via deposits in a bank but a big-assed ugly ceramic pig that had no way of getting the money out.

What I would do is empty change out of my pocket each night. Any money I got from blood (I participated a lot as a normal WBC control for research labs) or unexpected sources (birthday, Christmas, etc). I wasn't making much at the time, only about $25K/year but after about 3 years, I wound up with over $1000 in $20 bills and nearly $900 in change. Along with miles from a frequent flyer miles, I made a reservation to Athens 350 days in advance, so that gave me nearly a year to top off my pig.

When I made the flight reservation (I had a decent idea how much money was in the pig), I broke it and deposited the money into a savings account that wasn't linked to anything. I figured that I needed about $2500 to go, so managed to add another $600 to that the last year.

I love it!  And, excellent job, Mich!  What an amazing amount to save, considering the $25K! 

[simser]

I love to travel and have the extra money and time to do so.

I direct deposit part of my paycheck into a vacation account (I also do this for the Roth and the emergency fund). I then plan my vacations around that money. It's about 6k per year and I'll save up for a longer trip sometimes. For instance this year I'll have 8k when I hit 3 weeks in Australia. I also try and put everything on one credit card which gives me miles, so I won't need all that money- the plane tickets were $250 rather than $2500 with miles. I also make sure that things like new cameras, vacation clothes, luggage, etc. comes out of that account as well. Keeps me honest! That stuff can be expensive, so you need to watch out for it.

[Iggy aka IG]

May 7, 2014 12:29:01 GMT -5 simser said:

I love to travel and have the extra money and time to do so.

I direct deposit part of my paycheck into a vacation account (I also do this for the Roth and the emergency fund). I then plan my vacations around that money. It's about 6k per year and I'll save up for a longer trip sometimes. For instance this year I'll have 8k when I hit 3 weeks in Australia. I also try and put everything on one credit card which gives me miles, so I won't need all that money- the plane tickets were $250 rather than $2500 with miles. I also make sure that things like new cameras, vacation clothes, luggage, etc. comes out of that account as well. Keeps me honest! That stuff can be expensive, so you need to watch out for it.

And, I looked into it about an hour ago:  My bank allows multiple savings accounts, and customers can apply for them online. 

[kittensaver]

I have a SWA Visa card. I put EVERYTHING on there - I have totally gotten "over" the embarassment of charging $1.98 on a credit card - that was only a silly rule in my mother's head anyway . . .

I pay the card in full each month in order to earn and maintain points in their reward program. Not only do I have tons of points, but I've also earned enough points that I have a Companion Pass for the rest of the year. Under the SWA program, that means wherever I fly (using cash OR points) DH comes along as my companion for free (well, except for the $5 service fee and baggage fees). We have used this twice already, and planning to use it at least twice more this year (ditto with last year). We have family in the PNW, the midwest and the south, and it is wonderful to be able to hop on a plane for the weekend for a birthday, wedding, baptism, etc. SWA also flies to Hawaii!  But we will probably not get there until next year. Do you have access to a credit card reward program that will give you free flights? To me, that is one of the biggest expenses of a major trip. I can also use the points for car rentals.  

As to the rest - - I use the same tricks as other posters. All my rebates, refunds, "found" money, birthday/holiday money, loose change, etc etc go into the cookie jar on the kitchen counter. It can be as much as a couple of hundred dollars a year. We also draw vacation expenses from a general savings account.

Kauai is gorgeous. Have fun!

[Iggy aka IG]

May 7, 2014 13:11:02 GMT -5 kittensaver said:

I have a SWA Visa card. I put EVERYTHING on there - I have totally gotten "over" the embarassment of charging $1.98 on a credit card - that was only a silly rule in my mother's head anyway . . .

I pay the card in full each month in order to earn and maintain points in their reward program. Not only do I have tons of points, but I've also earned enough points that I have a Companion Pass for the rest of the year. Under the SWA program, that means wherever I fly (using cash OR points) DH comes along as my companion for free (well, except for the $5 service fee and baggage fees). We have used this twice already, and planning to use it at least twice more this year (ditto with last year). We have family in the PNW, the midwest and the south, and it is wonderful to be able to hop on a plane for the weekend for a birthday, wedding, baptism, etc. SWA also flies to Hawaii!  But we will probably not get there until next year. Do you have access to a credit card reward program that will give you free flights? To me, that is one of the biggest expenses of a major trip. I can also use the points for car rentals.  

As to the rest - - I use the same tricks as other posters. All my rebates, refunds, "found" money, birthday/holiday money, loose change, etc etc go into the cookie jar on the kitchen counter. It can be as much as a couple of hundred dollars a year. We also draw vacation expenses from a general savings account.

Kauai is gorgeous. Have fun!

Thank you, kitten!  We have never been.

No, I don't yet have a cc reward card program, but did look up the SWA Visa card after reading your post above.  Do they charge you the $99 annual fee they mention on their website?

[kittensaver]

May 7, 2014 13:23:04 GMT -5 Iggy aka IG said:

May 7, 2014 13:11:02 GMT -5 kittensaver said:

I have a SWA Visa card. I put EVERYTHING on there - I have totally gotten "over" the embarassment of charging $1.98 on a credit card - that was only a silly rule in my mother's head anyway . . .

I pay the card in full each month in order to earn and maintain points in their reward program. Not only do I have tons of points, but I've also earned enough points that I have a Companion Pass for the rest of the year. Under the SWA program, that means wherever I fly (using cash OR points) DH comes along as my companion for free (well, except for the $5 service fee and baggage fees). We have used this twice already, and planning to use it at least twice more this year (ditto with last year). We have family in the PNW, the midwest and the south, and it is wonderful to be able to hop on a plane for the weekend for a birthday, wedding, baptism, etc. SWA also flies to Hawaii!  But we will probably not get there until next year. Do you have access to a credit card reward program that will give you free flights? To me, that is one of the biggest expenses of a major trip. I can also use the points for car rentals.  

As to the rest - - I use the same tricks as other posters. All my rebates, refunds, "found" money, birthday/holiday money, loose change, etc etc go into the cookie jar on the kitchen counter. It can be as much as a couple of hundred dollars a year. We also draw vacation expenses from a general savings account.

Kauai is gorgeous. Have fun!

Thank you, kitten!  We have never been.

No, I don't yet have a cc reward card program, but did look up the SWA Visa card after reading your post above.  Do they charge you the $99 annual fee they mention on their website?

Yes, but I don't mind. Having DH fly unlimited for free is worth $99 a year, at least to me .

(Do I hafta turn in my YM card now  ?)

[Iggy aka IG]

May 7, 2014 13:26:26 GMT -5 kittensaver said:

May 7, 2014 13:23:04 GMT -5 Iggy aka IG said:

Thank you, kitten!  We have never been.

No, I don't yet have a cc reward card program, but did look up the SWA Visa card after reading your post above.  Do they charge you the $99 annual fee they mention on their website?

Yes, but I don't mind. Having DH fly unlimited for free is worth $99 a year, at least to me .

(Do I hafta turn in my YM card now  ?)

LOL!  Not as far as I'm concerned. 

Another question:  I don't see flights to Hawaii on the SW airport.  Please advise?  (Yes, I am blond )

[kittensaver]

May 7, 2014 13:28:59 GMT -5 Iggy aka IG said:

May 7, 2014 13:26:26 GMT -5 kittensaver said:

Yes, but I don't mind. Having DH fly unlimited for free is worth $99 a year, at least to me .

(Do I hafta turn in my YM card now  ?)

LOL!  Not as far as I'm concerned. 

Another question:  I don't see flights to Hawaii on the SW airport.  Please advise?  (Yes, I am blond )

SWA flies into both Honolulu and Maui - but from West Coast airports (LAX, SFO, San Jose). If you are on the East Coast you many have to hop across the country on a couple of flights to get there.

[kittensaver]

Here, Iggy - this'll get ya in the mood! (and provide you with some inspiration for saving ):

www.amazon.com/Over-Hawaii-Blu-ray-public-television/dp/B006983EU0/ref=tmm_mfc_title_0?ie=UTF8&qid=1399487951&sr=1-2

[Iggy aka IG]

May 7, 2014 13:34:25 GMT -5 kittensaver said:

May 7, 2014 13:28:59 GMT -5 Iggy aka IG said:

LOL!  Not as far as I'm concerned. 

Another question:  I don't see flights to Hawaii on the SW airport.  Please advise?  (Yes, I am blond )

SWA flies into both Honolulu and Maui - but from West Coast airports (LAX, SFO, San Jose). If you are on the East Coast you many have to hop across the country on a couple of flights to get there.

Strange, their website doesn't list either.  But, I do believe you, LOL!

SWA

[justme]

May 7, 2014 13:26:26 GMT -5 kittensaver said:

May 7, 2014 13:23:04 GMT -5 Iggy aka IG said:

Thank you, kitten!  We have never been.

No, I don't yet have a cc reward card program, but did look up the SWA Visa card after reading your post above.  Do they charge you the $99 annual fee they mention on their website?

Yes, but I don't mind. Having DH fly unlimited for free is worth $99 a year, at least to me .

(Do I hafta turn in my YM card now  ?)

What level do you have to do to get the free companion tickets? I didn't see it on their info.

I also didn't see Hawaii airports listed on Where We Fly.

[kittensaver]

May 7, 2014 13:55:42 GMT -5 justme said:

May 7, 2014 13:26:26 GMT -5 kittensaver said:

Yes, but I don't mind. Having DH fly unlimited for free is worth $99 a year, at least to me .

(Do I hafta turn in my YM card now  ?)

What level do you have to do to get the free companion tickets? I didn't see it on their info.

I also didn't see Hawaii airports listed on Where We Fly.

justme and Iggy aka IG: I lied (accidently, so sorry! ). It is Alaska Airlines that goes to Hawaii from the West Coast (I have an Alaska Visa too, thus my confusion). If your goal is only Hawaii, you may want to look at an Alaska Visa?

I don't know what the point level is to earn the unlimited Companion Pass on SWA. If you want, I can go home tonight and read the fine print in the card disclosures. Or call Customer Service and ask them. But as I remember, I got the notification of the Companion Pass after I hit about 80,000 points or so. Yes, EVERYTHING goes on the card to earn that many points!

[Wisconsin Beth]

May 7, 2014 13:34:25 GMT -5 kittensaver said:

May 7, 2014 13:28:59 GMT -5 Iggy aka IG said:

LOL!  Not as far as I'm concerned. 

Another question:  I don't see flights to Hawaii on the SW airport.  Please advise?  (Yes, I am blond )

SWA flies into both Honolulu and Maui - but from West Coast airports (LAX, SFO, San Jose). If you are on the East Coast you many have to hop across the country on a couple of flights to get there.

I thought Iggy was in the Rockies, more or less. 

[justme]

May 7, 2014 14:09:38 GMT -5 kittensaver said:

May 7, 2014 13:55:42 GMT -5 justme said:

What level do you have to do to get the free companion tickets? I didn't see it on their info.

I also didn't see Hawaii airports listed on Where We Fly.

justme and Iggy aka IG: I lied (accidently, so sorry! ). It is Alaska Airlines that goes to Hawaii from the West Coast (I have an Alaska Visa too, thus my confusion). If your goal is only Hawaii, you may want to look at an Alaska Visa?

I don't know what the point level is to earn the unlimited Companion Pass on SWA. If you want, I can go home tonight and read the fine print in the card disclosures. Or call Customer Service and ask them. But as I remember, I got the notification of the Companion Pass after I hit about 80,000 points or so. Yes, EVERYTHING goes on the card to earn that many points!

I poked around, and online it says you need either 100 one-way trips or 110,000 points in a year to get the companion pass. That's a whole lot of points to earn even if I put all my spending on the card. Certainly don't spend $110k a year! 

[kittensaver]

May 7, 2014 14:14:48 GMT -5 justme said:

May 7, 2014 14:09:38 GMT -5 kittensaver said:

justme and Iggy aka IG: I lied (accidently, so sorry! ). It is Alaska Airlines that goes to Hawaii from the West Coast (I have an Alaska Visa too, thus my confusion). If your goal is only Hawaii, you may want to look at an Alaska Visa?

I don't know what the point level is to earn the unlimited Companion Pass on SWA. If you want, I can go home tonight and read the fine print in the card disclosures. Or call Customer Service and ask them. But as I remember, I got the notification of the Companion Pass after I hit about 80,000 points or so. Yes, EVERYTHING goes on the card to earn that many points!

I poked around, and online it says you need either 100 one-way trips or 110,000 points in a year to get the companion pass. That's a whole lot of points to earn even if I put all my spending on the card. Certainly don't spend $110k a year! 

Well I don't spend that much either (lol), but I do spend on things that earn me double and triple points. I think it took me about 18 months to earn enough points.

[Iggy aka IG]

May 7, 2014 14:09:38 GMT -5 kittensaver said:

May 7, 2014 13:55:42 GMT -5 justme said:

What level do you have to do to get the free companion tickets? I didn't see it on their info.

I also didn't see Hawaii airports listed on Where We Fly.

justme and Iggy aka IG: I lied (accidently, so sorry! ). It is Alaska Airlines that goes to Hawaii from the West Coast (I have an Alaska Visa too, thus my confusion). If your goal is only Hawaii, you may want to look at an Alaska Visa?

I don't know what the point level is to earn the unlimited Companion Pass on SWA. If you want, I can go home tonight and read the fine print in the card disclosures. Or call Customer Service and ask them. But as I remember, I got the notification of the Companion Pass after I hit about 80,000 points or so. Yes, EVERYTHING goes on the card to earn that many points!

Ah!  There we go.  Thank you.    ETA:  Oh, and

[Iggy aka IG]

May 7, 2014 14:16:53 GMT -5 kittensaver said:

May 7, 2014 14:14:48 GMT -5 justme said:

I poked around, and online it says you need either 100 one-way trips or 110,000 points in a year to get the companion pass. That's a whole lot of points to earn even if I put all my spending on the card. Certainly don't spend $110k a year! 

Well I don't spend that much either (lol), but I do spend on things that earn me double and triple points. I think it took me about 18 months to earn enough points.

Is there an annual fee on the AA Visa?  I'm not seeing one listed right off hand on their site.

ETA:  Disregard, miss Anne answered this question above. 

[kittensaver]

May 7, 2014 14:22:30 GMT -5 Iggy aka IG said:

May 7, 2014 14:16:53 GMT -5 kittensaver said:

Well I don't spend that much either (lol), but I do spend on things that earn me double and triple points. I think it took me about 18 months to earn enough points.

Is there an annual fee on the AA Visa?  I'm not seeing one listed right off hand on their site.

Ya know - I don't remember off the top. I pretty much switched my loyalties to the SWA card because (at least for me) the benefits were better (unlimited Companion Pass as opposed to a once-a-year $99 Companion Pass; AA does not allow you to use points for cars and hotels, SWA does). Plus they fly more places where I have family.

Just a choice . I hope you find something that works for you!