A testimony from Carolynn who blogs at My Little Bit of Life
Last summer my in-laws offered to pay for hotel stays if we went on a family vacation to Texas — leaving us to be responsible for gas, food, and activities. My husband and I really wanted to go because it had been five years since our last vacation, but we wanted to make sure we could pay cash.
The Plan:
- We sat down and estimated how much it would cost in gas to get there.
- We researched activities that we thought our family would like and their cost.
- I signed up to receive daily e-mails from deal sites like Groupon and Living Social for the cities we would be visiting.
- We wanted to have $1000 for our vacation and we had about nine weeks to save for it, so we had to save $225 per paycheck.
- I set up a separate checking account with its own debit card and started transferring money into the account on payday.
- We also made a “vacation envelope” that I would put a few dollars in, here and there, if we had a little extra in a budgeted category.
The Results:
We had a great time on vacation and we were really able to enjoy it and make some wonderful memories, knowing that we would not be paying for this vacation once we returned home!
Carolynn is a stay-at-home mom of four, ages ranging from 6 years to 18 months. She used to teach, but now blogs about parenting, pregnancy, coupons, finances, teaching, and crafting at My Little Bit of Life.
Have you saved up and paid cash for something — large or small? Submit your story for possible publication here.
Carolynn @mylittlebitoflife.com says
That sounds like so much fun! I think it would be great to record their reactions.
Sue says
We are doing this right now. Taking the kids to disney.. this is a once and a life time thing for us.. so we are staying in the resort.. ( not the expensive hotels though, the cheap one! )
I started a bank account last year when our youngest finished preschool. I took the money that I would pay for her to go to preschool and put in in that account. Since we already had it budgeted it was not missed. Well we are going for a week next fall and it will all be paid for up front. The kids do not know about it yet.. Cannot wait for that morning to wake them up and say.. “So do you guys want to go to Disney today?”
Sue in NJ
Jadzia @ Toddlerisms says
I just got back from a “WE PAID CASH” trip to Paris! It’s not nearly as impressive as Carolynn’s trip because our lodging (a gorgeous apartment across from the Louvre) was paid for as The Best Birthday Present Ever from my family. But we did pay for everything else–the train, eating eating eating, admissions, shopping, etc., with cash. It was so much fun that I am saving again to maybe buy some cute clothes next time! It felt SO GOOD to know that there would be no after-vacation bills, and even to come back with a little money left over.
Carolynn @mylittlebitoflife.com says
Sounds amazing! I’m extremely impressed. I think it’s so much easier to live in the moment when there isn’t any financial stress!
Marie says
Thanks so much for sharing your story!! I know it is an encouragement to others. We are Big believers in FPU!!! We have been blessed to do many trips because of paying cash! One of my fondest memories was two years ago taking the family to Disneyworld. I always hear how expensive it is, BUT it doesn’t have to be. We took our pop-up camper and found a campground 10 minutes from the entrance of Disney! It cost us only $120 for the ENTIRE week!!! Disney’s campground was over $800. And we saved many other ways as well.
I just love that you wrote up your story and shared it so Crystal’s readers can be encouraged and inspired to do it themselves.
Carolynn @mylittlebitoflife.com says
Thank you. I’m sure you feel the same way, but since we have found financial peace, it’s hard not to share with everyone.
Heather :) :) :) says
I think that is so smart 🙂 🙂 I haven’t been on a vacation in quite a long time. However, now that I live near the ocean, it’s a vacation in itself, because there’s tons to see and do right here in town 🙂 🙂 However, I am starting a savings jar for a new iPod Touch 🙂 🙂 In any case, I think its AWESOME that you paid for your vacation in cash 🙂 🙂 Have a great weekend. Love and hugs from the ocean shores of California, Heather 😉
Carolynn @ mylittlebitoflife.com says
Thank you! Take in the view and the scent of the ocean for me! 🙂
Marianne says
Great idea to sign up for Groupons from the cities you would be visiting! I would never think of that and half of the time the coupons are for stuff you would be more interested in as a tourist anyways!
Carolynn @ mylittlebitoflife.com says
It was great. We went to a restaurant that we never would have, had we not had a Groupon and it was A-MAZ-ING! 🙂
Laurie G says
Wow- that is great. I wish we could come up with $225 extra each paycheck. We would be flying! No way could that happen.
Carolynn @ mylittlebitoflife.com says
We took Financial Peace University in 2007 and it really changed our lives. In 2011, we paid off our van with our tax return and were officially “consumer” debt free! Since we no longer had a car payment, we were able to save that money. We have worked hard to climb out of debt, but it’s been worth every sacrifice; tenfold. If there is any way you can take FPU, I encourage you to do it, it truly will change your life. Good luck to you.
Kristen B says
This is the same method I’m using to pay for a move from Nebraska to Louisiana this summer.
I opened a bank account that has its own debit/credit card. Money earned from selling stuff (old clothes, home decor, furniture, books, etc.) and from my second job goes into that account. Debit/credit card stays in a file in a locked safe until moving day. I created a budget based on how much I will need for gas, one night at a hotel, snacks on the road (those will be bought at the grocery store BEFORE moving day–MUCH cheaper than buying on the road!), costs for a moving van, and to have extra money in case *anything* happens (knock on wood). Heck, I’m VERY tempted to just sell EVERYTHING and buy two plane tickets and call it DONE. Ha! I even budgeted to buy the mini-minion her own e-reader and digital camera/video camera (I scored a great deal on a digital camera for $14.99 after tax and will be buying a low end e-reader/tablet for around $60) to keep her entertained for the two-day trek. It will also allow her to document our journey to a new life. In the meantime, I’ve put us on a budget so tight that you could pass coal through it and get a diamond. 😉
Carolynn @ mylittlebitoflife.com says
Good luck, but sounds like you’ve got it covered. As Crystal says, “splurges” are great as long as they are budgeted! 🙂