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Original poster

Do we spend too much on holidays?

108 replies

phrankiepoo · 25/12/2023 19:43

What percentage of your take home pay do you spend on holidays/travels?

We go abroad for 3 weeks each year. Maybe a few days more.

We take home around £75k each year. We probably spend around £8-9k of that on holidays, all in. So we spend around 8% of our take home on holidays. My grandmother was telling me she thinks that’s an outrageous amount and I should be saving the money instead.

OP posts:
Cornishclio · 25/12/2023 23:34

We are early retired and spend about £5-£10k a year on holidays. Net pension income is about £40k per annum combined so 25%. However we own our house and have investments to fall back on. In your situation I would be prioritising buying a home or do you intend to rent forever? How will you pay rent on a pension given it is unlikely to be anywhere near £75k? How old are you and do you have pensions\savings?

I sound a bit like your grandmother so I get where she is coming from as she is probably concerned for you. Both my daughters in their thirties spend way less on holidays than you on probably similar incomes but both own their own houses with mortgages. Eventually those mortgages will be repaid. The only mortgage you are paying is your landlords.

Heatherbell1978 · 26/12/2023 07:13

*We take home around £75k each year.

which I read as 75k each (150k total)

But for 75k total, I’m now on granny’s side lol*

OP confirmed at the beginning that she was talking net figures. So are you saying OP that you EACH take home £75K AFTER tax. In which case you're bringing home over £10k a month?

I think everyone on this thread has jumped to a different conclusion about what your actual take home pay is so it's an impossible question to answer!

qpalbfy · 26/12/2023 08:07

@Heatherbell1978
How are you reading that as each though, surely OP means each as in every year? Unless they've missed out "every" at the end of the sentence.

LumiB · 26/12/2023 08:17

My net is £39k and I spent 10 to 12% so £4 to 5k a year. Have a mortgage however its just me no kids so I think its okay for me. I'm still able to save.

ichundich · 26/12/2023 08:24

£4-5k max. with a joint income of £120. But we have school fees to pay for and are saving up for the VAT change. We never book AI and drive a lit rather than fly. We also don't go to main holiday destinations like Spain or Greece in peak season.

MintJulia · 26/12/2023 08:27

To me, security and owning my own home was more important so that came first.

With holidays, most people go through stages. Before dc, and each paying only for themselves, we went long haul, then with young children who wanted to 'bucket & spade', we did Channel Islands or Devon/Cornwall.

Now they are teens and more interested, we'll spend time in Europe.

The last two years, no travel insurance due to recovering from an illness, so we've done Northumberland, Wales and Scotland. About £1200pa in total, so 3%

And spending varies - some years it's tight, some years more generous. It depends what else is going on. New car? New roof?

My dm was always appalled at what I spent on holidays. As a teen I found their choices dull as dust, so I shall try to be different.

Heatherbell1978 · 26/12/2023 17:54

qpalbfy · 26/12/2023 08:07

@Heatherbell1978
How are you reading that as each though, surely OP means each as in every year? Unless they've missed out "every" at the end of the sentence.

I didn't read it as that - another poster did and commented on it. My point is that there seems to be many interpretations of what the OP earns from different people.

PuffyShirt · 26/12/2023 18:00

We take home slightly less (well, I do, dh earns more) and spend a good bit more! I reckon about 15% of our income last year.

NewYearNewYu · 26/12/2023 18:01

Could do with the OP coming back to tell us if it is 75k or 150k as advice hinges on this. Never seems to happen though, very bad form.

Shudacudawuda · 26/12/2023 18:03

phrankiepoo · 25/12/2023 19:43

What percentage of your take home pay do you spend on holidays/travels?

We go abroad for 3 weeks each year. Maybe a few days more.

We take home around £75k each year. We probably spend around £8-9k of that on holidays, all in. So we spend around 8% of our take home on holidays. My grandmother was telling me she thinks that’s an outrageous amount and I should be saving the money instead.

My SIL died this year after a long illness, leaving two young children behind.

Life is soo short, after experiencing this in our family we are taking our kids away as often as we can, making memories. Because you never know when you won't be able to do it anymore.

If you can afford it, do it. Do it now while you can.

Original poster
phrankiepoo · 26/12/2023 18:04

@NewYearNewYu

75k total. I’m currently studying for an MBA so our household will be more like £250k next year.

OP posts:
Original poster
phrankiepoo · 26/12/2023 18:05

Apologies, I misspoke. Our take home will be 150k next year*

OP posts:
coldcallerbaiter · 26/12/2023 18:12

We spend 20% of net income on holidays. Mortgage is paid up.

Wishimaywishimight · 26/12/2023 18:18

I think it's a lot given you pay 2k in rent.

We take home c.€5,500 per month and put €800 into our holiday fund but we paid off the mortgage last year.

NewYearNewYu · 26/12/2023 18:20

As you are at the start of your careers I would try to buy where you live/work. Then only spend what is left on holidays.

Christmassss · 26/12/2023 18:36

Pension is 80k and in 2023 we spent just over 40k on holidays!!!

arewedoneyet · 26/12/2023 18:37

Christmassss · 26/12/2023 18:36

Pension is 80k and in 2023 we spent just over 40k on holidays!!!

Do you really mean you spent £40,000 on holidays with only £80,000 in your pension?

NewYearNewYu · 26/12/2023 18:40

@arewedoneyet i read it as them spending half their annual income on holidays. That’s fine if you own your house and have low outgoings.

Padget · 26/12/2023 18:42

Nan’s do see things with a different (era) perspective though, with a different level of priorities….mine was so upset that I left my bank cashier role for an office job earning much more (and much, much more years on than I ever would have at the bank) as it was a ‘job for life’ working at a bank. Of course most bank branches have closed now so not sure how my job for life would be looking now! Can’t imagine how she’d feel at me having multiple holidays a year as that would never have been achievable for her

anothernamechangeagainsndagain · 26/12/2023 18:47

We spend around 10% of net pay on holidays but we own outright - if I didn't own I would be saving to buy then paying off mortgage

Christmassss · 26/12/2023 18:47

Do you really mean you spent £40,000 on holidays with only £80,000 in your pension?

No I don’t mean that, pension income is 80k per year and my DH and I spend about 40k of it on holidays.

CurlyhairedAssassin · 26/12/2023 18:55

It's all relative. Depending on how old and healthy your grandmother is then she may not be spending much on holidays now herself so may see travel as an extravagance. Maybe she's been there and done that so doens't feel the pull of travel, and forgets that people younger than her may want to prioritise spending on different things than what she does.

Unless you have a habit of approaching her for monetary help, or complaining that you're skint all the time, I really don't see what the problem is.

Sceptre86 · 26/12/2023 19:03

Our household income is a little higher than yours but we have 3 kids. I think it us a lot of money to sped on holidays but I don't consider holidays to be a necessity bit different if you do. Ultimately it's your money and you can spend it how you like but I'd be inclined to have 1 holiday as opposed to 3 a year and buy a home.

kitsuneghost · 26/12/2023 19:04

Are you including spending money?
Are you including domestic weekends away in this?

Heyhoherewegoagain · 26/12/2023 19:06

phrankiepoo · 25/12/2023 19:57

Net! And funnily enough, our rent is 2k a month.

Whilst I love my holidays I’d not be spending so much on them if I didn’t own my house

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