How much is reasonable to spend on holidays vs income ?

[holidayprince]

How do you calculate how much you can spend on holidays vs your monthly income for example ?

I'm having a debate with H about it and no matter how much we spend, for him, it's always a waste when it's spent on a holiday. He thinks is frivolous.

If you spend say half a monthly pay cheque on a holiday, is that too much ?

Do you save up a long time to go on holiday ?

Just wondering because to me it isn't money wasted to make memories with your family.

I know holidays are expensive but we have savings as well as investments and aren't spending more than half of what we make a month on a holiday, so I don't see a problem with having a nice time with your family once a year.

My DH has always been this way about holidays.

I work 6 days a week, 50 weeks of the year, so I can afford 1 two week holiday abroad (and still pay all our bills and not be in debt).

but we certainly prioritise living now than having huge pots of money for when we get old.

My retirement age is 68 and I will assume it will go out. No way do we want to work at that age 😆

You work to pay bills. You live to enjoy life, albeit within your means🙂

It's not really anything to do with what percentage of your income is reasonable, it's how you choose to spend that income. If you take two scenarios with the same income they might both have very different amounts that they want/can spend on holidays.

One family with a couple of horses to run, shelling out a fortune on leasing expensive cars every month, a hefty designer handbag habit, expensive gym and golf club memberships, eat out several times a week and a second home by the seaside with a second mortgage, and another who are mortgage free with pretty low outgoings.

The second will have a lot more left to spend on holidays and both would be reasonable because it's up to you how you spend your money, you get to prioritise because we don't live in a communist state. If you want a holiday, get one booked, it's not frivolous if it's not frivolous to you.

It depend on your values.
If you can't agree then you should separate family and fun money budgets - you can save up your fun money for holidays (possible without him) and he can spend his on what he values. Then you agree a small budget from family money for an occasional cheap family holiday.

I agree with this but I don't think we should pile into the individual it's the system we should get angry at

Absolutely appalled at @Beezknees claiming universal credit then spending £6k(?!?!) on holidays!!

Pay for your own holidays you absolute CF!

The benefits system is completely undermined by people like you.

my god, this new government needs to sort the benefits system out. This is unbelievable. I've never claimed a penny in my life and can barely afford one cheap holiday a year.

It’s not about income, it’s about disposable.

ours varies hugely. We probably used to spend £15/20k- a European trip, a long haul and quite a few weekends in nice hotels and flights to visit family. These days with young kids we spend next to nothing, maybe £1k on a trip to a family house in Spain, £1k on a weekend away. Then flights to visit family in our home country.

I’m against spending good money on crap holidays with toddlers. I refuse to do long haul. Spain is nice for a week, we go in the off season so it’s not too hot for kiddos but warm enough for the pool. I’m banking my holidays to cash(not physically, but husband knows I’ll be booking som cracking hols for us all when the time is right!) in when kids are older and they’ll be excited for Disney, safaris, water parks etc

OP it doesn't matter about income vs holiday, it's about priorities. I'd rather spend my spare income on experiences than stuff, that's my choice. As long as you're not getting into debt for holidays, it's totally your choice.

For those who are miffed at Beeskneez claiming UC and having lots for holidays- I know someone in the same position and in their case it isn't UC that's putting them in this position it's the fact they get good child maintenance of around £700 a month - and this isn't counted at all towards UC - they still get the full UC she is entitled to ( and she works the minimum she can getaway with too) now whether this is right or wrong is another debate - what annoys me is it's creating a situation where some people who don't get copious child payments from ex partners struggle for essentials whilst working and claiming UC top ups ( or not working in some cases) and others are much better off than many working couples with kids who can claim jack shit. No wonder some couples with kids 'split up on paper'

I think the problem is beezneez wants to save but can't. The system is making people reliant on benefits. Beezneez says herself she can't save as her benefits would be removed. A system that penalises someone from trying to act responsibly is quite sad really...but I suppose most benefits have to have a cut off when savings become too high.

I think most people in beezkneez situation would do the same, she can hardly keep reapplying for UC every time her savings exceed 6k. She is in a 'benefit trap' - it is not her fault.

I think the problem is beezneez wants to save but can't. The system is making people reliant on benefits. Beezneez says herself she can't save as her benefits would be removed.

But surely if you can save 6k and only need it to spend on a holiday you could just come off UC? Do you think the system would work better if you could save more and still get UC?

If a family on over £100k are "struggling" there's something really wrong. Maybe living beyond their means with their huge mortgage or whatever. But it shouldn't be a struggle on those salaries.

I get more UC than I spend on holidays. So if I were to save more, my UC would stop, then I would have to spend the savings anyway and start claiming UC again, it would just be a cycle.

With the previous tax credits system you could save as much as you want.

@JaydeeeeP who said anything about struggling? Not having 6k for holidays doesn’t mean you are struggling…

DH gets the minimum annual leave in his role so when we go on holiday (not every year) we make it bloody worth our while. We had 2 weeks in the Carribbean including a cruise last year. That was just over 4k and we each earned 25k at the time so it was a lot but it made the most of the time he had off

It all goes in the same pot. I have a full time job too. I don't keep the UC aside purely for holidays. 🤣

I'm pretty certain that nobody would choose not to claim UC if they were entitled to it.

@Beezknees please don't feel you need to justify yourself on this forum. Absolutely disgusting the vitriol from posters towards those who are on low incomes often through no fault of their own.

Maybe living beyond their means with their huge mortgage or whatever

How does not spending 6k on holidays with an income of 100k mean you are living beyond your means? 🤦‍♀️

It's OK, thank you. The issue is low wages and high rents I think. I'm baffled as to why anyone would think my life is great when I live in a shit area, have a low paying job and am a lone parent. I'll never be able to retire probably!

But we all have different outgoings?? Surely that's obvious. Some save to get away for mental health purposes. They need that break to stay well. Some choose to live frugally the rest of the year by eating beans on toast, not having a car etc. Is it anyone else's business?

The issue is low wages and high rents I think
I agree but high housing costs and wage stagnation impacts the majority of earners even those who are paying higher taxes & remember those tax bands are frozen.

Struggling to fund a £6k holiday is what I meant, that's what the discussion was about. Someone coming on saying I couldn't afford a £6k holiday on our high tax salaries.....its just daft.

I know, but there's nothing I can do about that! I don't make these decisions.