"It's the economy, stupid"

[stacyp9]

I know "grown ups" basically my grandparents who were always afraid of going into debt or spending money,and guess what they grew old and lived to regret not doing anything with their money when they could.I know there's limits of how far you can go,but this is fact,money comes and goes and memories last forever!!!

Yeah, I had grandparents like that too, though mine were farmers and never had regrets because they had a heck of a lot of fun in their lives. Fun without stuff. It can be done! They also supported themselves until they died with no government assistance beyond the social security they earned.

I wonder which lasts longer, the memories of the trip that the parents couldn't afford or the memories of months of fights trying to figure out how to pay the bills?

 

[Mystry62]

Isn't that the truth? I was in court earlier this week, and started talking to another attorney while we were waiting for the judge to show up (who was 30 minutes late, but that's another rant). This other lawyer had 8 files in his hands for the judge to sign -all foreclosures, and I remarked to him how sad that was. He pointed to the large crate next to him, full of files and replied "Oh, this is nothing - I have all these to be signed by various judges this morning, and then I have to go over to the bankruptcy court to see more clients." And that was just one day's work, and one attorney! I think it's a very dire situation here in Central Florida.

I'm interning with a judge here in Florida and I've seen the same thing. The foreclosure docket is overwhelming. It's like a rapid fire day...The hearings are limited to 5 minutes and go all morning once or twice a week. The only thing that basically happens is just setting an auction date. And it's not just limited to the lower end homes.... we've seen a number of "high end" (i.e. $500,000 + homes) come through the docket. It's a shame. And it is sad.... especially when the homeowner actually shows up to the hearing. But at that point, there's really nothing the judge can do. Their hands are tied when it gets that far. I find myself feeling one of two things during the foreclosure docket days, either heartbroken for the owners that have truly hit hard financial times (job loss, etc) or mad as heck that people used their house as an ATM and/or bought WAY more than they could ever expect to afford and figured they could just walk away when they couldn't pay anymore.

 

[ILuvCrush]

Like my grandmother used to say, "please don't pee on my leg and tell me it's rainwater" This economy sucks.

DH and I fortunately realized the peril we were in with debt about 3 years ago. We cut up every credit card we had and started paying everything off. I haven't bought anything on credit or via loan, asside from a reasonably priced car, since. During that time we've made 2 trips to WDW and I am going again next month... all paid with cash. If its not in the checkbook...it doesn't get bought. period.

I'm really glad we started before all the economic downs. I have a terrific salary in a non-slumping field. DH is always on the brink of being layed-off, but so far has weathered the storm. But even though we aren't as financially pressured as so many other Americans are right now, we are still feeling the pinch of rising prices at the grocery and gas stations.

If I couldn't pay cash for my WDW trip... I'd stay home. As much as I really want to go and feel I NEED this trip. I know that's not an option for many people, but its the only way I can go and not beat myself up over it for months afterward.

We have 1 and possibly 2 trips planned for 2009. If DH gets laid off 1 will definately have to go. But since we started our quest 3 yrs ago at eliminating our debt...by April we'll be free. So then If DH loses his job, we'll still be fine. Its hard being a grown up... it took DH & I an extra 14 years after the government said we were adults to figure it out...but at least we got there

 

[luvthemouse71]

It depends on what one does for a living. The medical field won't see much of a downturn. I doubt education-related employment will either. I would think most of the damage will be where most of the bubble occurred: real estate and financial markets. With other industries being affected around the edges.

Bob

ITA..I work as a nurse in a trauma center and business(sadly) has been booming. We've had quite a few people who have jumped from buildings, bridges etc and part of me always wonders if the economy is part of the reason.

 

[luvthemouse71]

I hope you're not saying I'd go to Disney and let my kids go hungry and neglect my marriage.

It's about being responsible. If you've saved (as we have for a LONG time) and you don't go overboard money-wise, then go and have fun guilt-free. But don't think for a minute that Mickey Mouse comes before family. They're the reason we're going in the first place.

That's how many of us finance our trip. I pay the deposit..and make payments. I don't finance my trip with a credit card-it's all paid off before I go. I choose to spend my disposable income on traveling..I don't care about fancy clothes etc. To me, the memories are far more worth it.

 

[jhaig]

That's how many of us finance our trip. I pay the deposit..and make payments. I don't finance my trip with a credit card-it's all paid off before I go. I choose to spend my disposable income on traveling..I don't care about fancy clothes etc. To me, the memories are far more worth it.

Exactly. In a "stupid" economy, be smart. A great Disney vacation shouldn't put you in debt.

 

[jhaig]

Not at all, what I was responding to was the "don't worry, be happy" tone of your first post. To me part of responsibility is being concerned about the economy because it affects so much of our quality of life. Op is thinking about spending 5K on a luxury and no matter how much I love disney and want to make positive memories with my children, disney is a luxury. the responsible thing imo is some times saying "NO" to luxuries. Whether they be a disney vacation, a new car, or a trip to Europe.

I guess I'm just more pro-active, I'm not one of those "I can't do any thing about it" so stick my head in the sand type of gals. When the economy goes south, I take a look at my finances and start planning on that raining day especially since this down turn is looking like it's going to get worse before better.

Right. Part of planning includes not spending 5K on a luxury when you can spend half of that, still have a great vacation, and be able to pay your bills and provide for your family. If we can't afford Disney, we'll just drive to the beach or something else.

 

[sbell111]

I know "grown ups" basically my grandparents who were always afraid of going into debt or spending money,and guess what they grew old and lived to regret not doing anything with their money when they could.I know there's limits of how far you can go,but this is fact,money comes and goes and memories last forever!!!

No offense, but that's the attitude that makes money 'go'. Being smart with your money allows you to more quickly get into a situation where you can take better vacations, more often without risking your future.

 

[AftertheSunset]

Exactly. In a "stupid" economy, be smart. A great Disney vacation shouldn't put you in debt.

Excuse me, but who are you to tell people about how they should handle THEIR financial situations?

If someone wants to "take out a loan" to go to Disney, that's their choice. If someone wants to "charge their trip"...guess what? That's THEIR choice.

I always find these threads so interesting when people come on here, carting around their "holier than thou" attitudes with them. Just because YOU choose to go to Disney all paid for with CASH doesn't mean EVERYONE has to follow in your footsteps.

Good Lord, there were times that if we had to wait to pay for our trips "all in cash", we NEVER would've gone.....and boy, am I glad that we didn't wait.

At the end of the day, it's really NO ONE'S business how people choose to pay for their Disney trips.

 

[RichieTruxillo]

Yes the economy is rough out there. A fellow resident lost his life savings in investments a couple days ago. I've gone from IT/Programming to sales to now, medicine and I am glad I did. Though with all this talk of universal health care (which trust me you DO NOT want to happen, read about the Canadian system), it seems my dream of being the primary care town doctor is in jeopardy now. Truth is, no job is ever truly safe. As long as you keep educating yourself about various trades, you can be flexible and apply for multiple jobs down the road.

Always save money and do things on the side if you can. This is my day off but I'm working on my revenue generating websites because although they only generate a few hundred bucks a month, I work 4-5 hours a week on them and they are hands off. Keep money in the bank and when the rough times come, you'll have a something to fall back on. If things look up, you can use some of that money to take a nice Disney Vacation.

If you want/need a vacation, start saving now and work towards it. Even little things help to some extent.

 

[ilisao]

I would disagree with you,if you're broke it's better to be at Disney having fun and putting those issues aside for a couple of days rather than at home staring at each other and worrying about your situation.I've gone broke before and worried about it, but afterwards I was definitely glad I went.Just go on a budget and enjoy yourself.I think what they meant is that they know their situation is not going to get any better and can't afford to keep their house whether they go to Disney or not,so in that situation I would suggest they go to Disney.However if they situation is dire where they lost their job and might not have money to eat after coming back,then they shouldn't go,but they never said that they just said they're maxed out and probably can't afford their house and are going to need to sell.Life is short and Disney is totally worth it!!

Hello? They CAN'T AFFORD THEIR HOUSE. They cannot afford the roof over their heads. And they think selling the house in this market is going to solve their problems. That is kind of a big sign that someone should not take a vacation.

Do people NEED trips to Disney? No. You can try to spin it all you want - my kid only turns 10 once, I'm stressed, I need an escape, etc. But the fact of the matter is there is an incredible amount of irresponsibility here. I would give anything to plan a trip to Disney. But until we build up our cushion again and pay down debt, we are not. I'd rather my kids learn the lesson that we can't always get what we want when we want it. We can enjoy family time in plenty other ways.

 

[AftertheSunset]

Hello? They CAN'T AFFORD THEIR HOUSE. They cannot afford the roof over their heads. And they think selling the house in this market is going to solve their problems. That is kind of a big sign that someone should not take a vacation.

Do people NEED trips to Disney? No. You can try to spin it all you want - my kid only turns 10 once, I'm stressed, I need an escape, etc. But the fact of the matter is there is an incredible amount of irresponsibility here. I would give anything to plan a trip to Disney. But until we build up our cushion again and pay down debt, we are not. I'd rather my kids learn the lesson that we can't always get what we want when we want it. We can enjoy family time in plenty other ways.

Again, it's not YOUR choice...it's theirs. It's THEIR vacation and THEIR debt to take. NOT YOURS.

Is it irresponsible? Sure it is. But, again, it's up to the THEM...not YOU. If YOU choose to wait and save, then great. Others don't.

 

[sbell111]

Excuse me, but who are you to tell people about how they should handle THEIR financial situations?

If someone wants to "take out a loan" to go to Disney, that's their choice. If someone wants to "charge their trip"...guess what? That's THEIR choice.

I always find these threads so interesting when people come on here, carting around their "holier than thou" attitudes with them. Just because YOU choose to go to Disney all paid for with CASH doesn't mean EVERYONE has to follow in your footsteps.

Good Lord, there were times that if we had to wait to pay for our trips "all in cash", we NEVER would've gone.....and boy, am I glad that we didn't wait.

At the end of the day, it's really NO ONE'S business how people choose to pay for their Disney trips.

If people didn't want it to be other people's business, they shouldn't discuss it on a public forum because doing so invites comment.

 

[AftertheSunset]

If people didn't want it to be other people's business, they shouldn't discuss it on a public forum because doing so invites comment.

Ah....so they're just "askin' for it", huh?

Ya'll keep going on and on and on about being responsible...what about being respectful of other peoples' choices? YOU make YOUR choices and THEY will make THEIRS.

 

[eliza61]

If people didn't want it to be other people's business, they shouldn't discuss it on a public forum because doing so invites comment.

Exactly.

Ah....so they're just "askin' for it", huh?

Ya'll keep going on and on and on about being responsible...what about being respectful of other peoples' choices? YOU make YOUR choices and THEY will make THEIRS.

Who's being disrespectful? No one was rude (were they? I didn't read all the post) When you post on a PUBLIC forum asking for opinions or questions you are going to get all types of answers
Of course the person is going to do what they please, that much is obvious but don't call differences of opinions "disrespect". spending money on a vacation when you're about to lose your house is insane. Nothing disrespectful about that at all.

"if you can't stand the heat, stay out of the kitchen". If you put it on a public forum where discussion are taking place get ready for the answers you will get.

 

[RichieTruxillo]

Exactly. Spending money on a vacation when you're about to lose your house is insane. Nothing disrespectful about that at all.

Agreed!

 

[goofygal71]

IMO...I pay cash for my entire trip.

But, if you are comfortable paying a high interest rate on a loan for #?? of months for a vacation that lasted give or take 6 days? By all means, do it. I'm not going to say not to. I am not in that position to say it is wrong. I just don't choose to do it.

 

[AftertheSunset]

Exactly.



Who's being disrespectful? When you post on a PUBLIC forum asking for opinions or questions you are going to get all types of answers
Of course the person is going to do what they please, that much is obvious but don't call differences of opinions "disrespect". spending money on a vacation when you're about to lose your house is insane. Nothing disrespectful about that at all.

"if you can't stand the heat, stay out of the kitchen". If you put it on a public forum where discussion are taking place get ready for the answers you will get.

Ahh...so it's your "right" to ridicule other peoples' financial decisions? Gotcha!

Furthermore, I didn't see anyone "asking for peoples' opinions". I'm pretty sure the posters that ya'll disagree with were posting their personal situations in support of the OP. They weren't on here, going "I'm paying for Disney instead of my house. What should I do?". Maybe I didn't read it the way you did.

Regardless, it's pretty sad that other adults have to ridicule others' financial situations and decisions.

 

[AftertheSunset]

IMO...I pay cash for my entire trip.

But, if you are comfortable paying a high interest rate on a loan for #?? of months for a vacation that lasted give or take 6 days? By all means, do it. I'm not going to say not to. I am not in that position to say it is wrong. I just don't choose to do it.

 

[jensen]

I'm having serious buyers remorse about out upcoming vacation... I booked when it looked like things might be settling down, then Ike and now the stock market... I'm freaked.