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10 Ways to Deal with Your Wanderlust When You’re Short on Time and/or Money

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wanderlust 10 Ways to Deal with Your Wanderlust When Youre Short on Time and/or MoneyI’ve been bitten by a serious case of wanderlust lately. Part of it is the fact that I have not flown since last October, and another part is that I just really cannot wait until our honeymoon to Buenos Aires. What to do, what to do, when you are itching to travel, but cannot (at least not yet) because of lack of resources, whether that be time or finances?

Here are 10 ways to deal with that wanderlust when you’re short on time or money.

  1. Attend a travel convention. That’s what I’m doing this weekend – the Los Angeles Time Travel Show is here, and if I can’t head to London or Barcelona at least I can listen to Rick Steves TALK about the wonders of Europe. (If you want to go, use the code “LATR” or “LATO” for $2 off the $10 admission tickets).
  2. Set up a dedicated travel fund. If one of the obstacles to a trip is money, there’s only one way to resolve that obstacle – with money! Putting dollars away in a specific fund help us prepare for a big vacation – our Galapagos Fund has grown from a twinkle in my eye in April 2010 to $10,000+ now.
  3. Subscribe to well-written travel catalogs with lots of colorful photos and detailed itineraries. OK, this might only make your wanderlust that much more powerful, but it’s a fun way to torture the traveler in you! I especially enjoy Wilderness Travel’s paper catalog (it’s free, and they don’t spam). I have one from last year that I’ve read, cover-to-cover, more times than I can count on my fingers.
  4. Read blogs of folks who have visited the destination of your desire. I am a frequent visitor of this Galapagos trip blog. I try to tell myself that my time will come. 
  5. Plan out an entire trip in your head. From airfare, to specific hotels and restaurants, to entertainment options, to local transportation. Maybe keep a few spreadsheets detailing the budget breakdown of what such a trip will cost. Go back to #2. Repeat as necessary for all the trips that you want to take. Thanks to my penchant for researching and planning trips, I now have the itineraries of Turkey, Paris, New Zealand, and a several other places floating around in my head. Hmmm.. Oops? (I can’t be the only one who does this!).
  6. Host a foreign exchange student or foreign traveler. If you can’t go to Rome, you can bring someone from Rome to your home! If you are ready for a longer-term commitment, serving as a host for a foreign exchange student would be a great way to learn more about that person’s culture. Or sites like couchsurfing will let you play host for a few days.
  7. Pretend to be a tourist in your own city. So many times we forget or overlook the tourist attractions in our own cities, attractions that real tourists pay good money to be able to visit! I’ve been guilty of this. So play tourist for a day – maybe even ask someone for directions.
  8. Go on a day trip. Leave early, come back late means that you save on the hotel costs but can see visit someplace a little bit different from the day-to-day. If you are in Los Angeles, you can make it to Santa Barbara on a day trip. If you are in San Francisco, Monterey (and the famous aquarium) is doable. If you are in D.C., the wineries of Charlottesville are 2.5 hours away. If you are in San Diego, land of perfect 72 degrees, WHAT are you complaining about?! icon wink 10 Ways to Deal with Your Wanderlust When Youre Short on Time and/or Money
  9. Open a rewards credit card to pay for your hotel or flights. Done and done. Of course, only do this if you can pay off your balance in full every month.
  10. Drink wine and pretend you are in Paris. Enough said.

Share in the comments! What effective, unusual, wacky ways do you try to deal with your wanderlust, when you just can’t get away?

Getting Into Credit Card Points & Miles

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It’s funny, just a few years ago I was debating whether I should open a second credit card. Now, I am signing up for cards left and right. OK, that sounds just a tad irresponsible. What I mean is, I am signing up for cards that have good terms and great signing bonuses, while making sure I am paying all of my bills on time so I can enjoy the rewards guilt-free. There, much better! icon smile Getting Into Credit Card Points & Miles

Now, I have 3 current credit cards:

  • Citi ThankYou Visa: This is my first – and for many years, my only – credit card. I trade all my ThankYou points for gift cards to Sephora or Banana Republic. At 10,000 points to $100 gift card, it’s not the greatest conversion, but it’s not the worst either. No annual fee. I keep this card because it’s my card with the longest credit history.
  • British Airways Visa (issued by Chase): I got this card a few months ago for the 100,000 miles British Airways miles bonanza it had. It has $95 annual fee, so I may cancel this card in March before I get hit with the fees for the second year. I do feel like I got my money’s worth with the $420 round-trip tickets for CB and me.
  • Starwood Preferred Guest American Express: This card is a perennial favorite among credit card bloggers and review sites. CB and I both got it for the 25,000 points promotion with a mind to cash in the points when we travel. We need to complete our $5,000 spend by the end of March. The clock is ticking! I just checked the rates at Sheraton Iguazu at Iguazu Falls. Rack rates are $225 per night, but we will be able to get the room free for 12,000 points or 4,800 points plus $90. Either way you look at it, “free” or $90 sounds a whole lot better than $200+.

Credit cards I am considering:

  • Hyatt Visa Credit Card (issued by Chase): 1 free night at ANY Hyatt property with first purchase, and 2nd night free with $1,000 spend in 3 months. $75 annual fee, not waived for first year. I’d like to apply for this card and have CB get it as well so we can cash in on 4 nights in Park Hyatt Buenos Aires, where rooms go for $500+ a night!
  • TBD card with a great mileage offer (So bummed we missed the 75,000 points Citi AAdvantage deal!). We are not considering taking an international trip other than the honeymoon, so I am waiting for some good offers to come around. There’s also the minimum spend that I have to make on the credit cards to get the bonuses, but honestly, I am traveling (and spending) so frequently right now that I don’t see a problem making my minimum spend. Plus, more wedding expenses coming up! I am trying to figure out a way that we can get to Turkey – Istanbul and Cappadocia might not be our honeymoon destination any longer, but gosh darn it I am going to find my way to that country come miles or high water.
  • Hilton American Express: With this card (which has NO annual fee), I can earn up to 62,500 HHonors points. I am a Hilton Silver member – just ONE more stay until Gold status! – so it’s probably beneficial for me to get the card. Also, as a Hilton Amex member I will be eligible for AXON member-only redemption rates that can get me into highly-rated properties for fewer points.

I’ve also pulled two free credit reports and I’m still lookin’ good. With judicious use of credit cards, I know I can take advantage of the great rewards, save money, and stay in nice hotels and go to fun places. The only thing I regret is that I’ve waited THIS LONG to get into miles and points. Seriously! I’ve always appreciated credit cards, but now I really appreciate them. I do have to be careful that I am still spending what I would normally spend. If you know you can use credit cards responsibly and aren’t afraid of (or even find some fun in) finding bonuses, signing up for membership programs, and doing some research on how to maximize your rewards, I think credit card points and miles can be well worth your time.

Travel Planning – the costs add up!

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coins 300x199 Travel Planning the costs add up!Do you ever think that you are doing a great job keeping costs down on an upcoming trip, but once you’ve added up everything, you think – wow that’s a lot of money! CB and I are planning a trip to Boston area for me to interview at a business school and then to spend a few days playing tourist. We first went to Boston almost exactly a year ago to visit CB’s prospective graduate program, so I am really excited to come back to the city.

Here is our budget for Boston:

Total estimated cost of trip: ~$1,500

*Eye pop*

When I look at the elements of the trip individually, they don’t look unreasonable. In fact, I was almost patting myself on the shoulder for managing to (a) find a red-eye from the West Coast to Boston so that we wouldn’t have to pay for a hotel Thursday night, (b) buy tickets that were less than $350 per person, (c) use points to get a free night at a hotel, (4) resist the nice $200+ hotels and instead stay in a small guest house with shared baths.

I love to visit different places, but no matter how carefully I budget individual pieces, somehow the sum of trip just seem so much higher than the costs of its parts. Do you ever get sticker shock once you get to the total cost of a trip?

photo credit: rachel titiriga via Flickr

 

Travel = Holy Grail of Personal Finance Spending?

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In the personal finance blogosphere (and among writings by PF experts), there are a few things that fall into the Bad Spending Category and a few that inhabit the Good Spending bubble. Spending $5,000 on a state-of-the-art flatscreen or a Chanel Caviar Flap and spending $5,000 on a trip to Barcelona hits your checking account the same way, but somehow we have accorded travel spending as a higher status than almost all other forms of spending. Why?

When did travel reach that status of the holy grail of spending?

Kelly @ Alterations Needed, one of my favorite petite style bloggers, recently commented on my post A Spender Trapped in a Saver’s Body. She wrote (emphasis mine):

Believe it or not, but I have major saver tendencies. I tend to not spend any money on any other aspect of my life, except for my wardrobe. My apartments has always been cheap, I eat cheaply, and rarely go on vacations, let alone exotic expensive ones. I sock all that extra money away, and then splurge on what I really love in life…my closet! Yes, I’m that girl who drives a tinker toy car, lives in the ghetto…but damn, I’ll look good when I step out in my Burberry coat. Credit cards paid in full every month, baby! icon smile Travel = Holy Grail of Personal Finance Spending?

That’s fantastic. That’s what puts the personal in personal finance. Kelly knows what’s important to her, and she prioritizes her spending accordingly.

It’s easy to be an avid traveler in the personal finance community. It’s a socially-acceptable way to spend your extra money. That doesn’t make travel intrinsically any worthier than spending on something else. Don’t get me wrong, I love to go places. But that’s a personal preference. I could easily derive more enjoyment out of spending on clothes or cars or my Civil War reenactment hobby (just for example). Travel brings new perspectives, but I also don’t fool myself that many trips will be just another type of luxury consumption. Has anyone seen the prices of a Galapagos trip or an African safari lately?

Personal finance is personal. So once you have the basics of saving and investing down, I say spend away on whatever makes you happy. Make your hard-earned dollars bring you joy. That’s what Kelly and I are both doing, even though we might be going about it with different purchases.

Don’t think you are going to escape more travel posts from me, though!

Don’t Forget Domestic Travel

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International travel is where all the glitz and glamour is, but as the fourth largest country in the world, U.S. offers an amazing array of cultural and geological diversity. I love to go places, but I’ve really neglected seeing different parts of the U.S. In fact, I’ve been to more countries than I have states. Recently, I started to travel more for work, so my list of states visited has tripled.

  • California (my home!)
  • Nevada
  • Hawaii
  • Arizona
  • Oregon
  • Florida
  • Texas
  • Rhode Island
  • Massachusetts
  • New York
  • North Carolina
  • Ohio
  • Kentucky
  • Virgina
  • Washington, D.C.
  • Maryland

Because I’m in town for work, I don’t really have the chance to visit local attractions. But I have been lucky to do one of my favorite things to do while on the road – enjoy local cuisine. I’ve had lump crab cakes in Maryland, sweet tea in North Carolina, ribs in Ohio, and of course, Dunkin Donuts all up and down New England.

My trips has made me want to see more of this great country. So the next time you plan out your vacation, don’t forget to think about domestic travel (but still, have a passport!). Domestic travel will probably be more budget-friendly than going abroad, and it can be just as fun and worthwhile. I’d love to visit Savannah, Georgia, and Charleston, South Carolina. I also would love to go back to D.C. and spend some more time there.

What domestic destination is on your list?

Paris & Lisbon 2012 Budget: Is $4.5K Enough?

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Europe 2012!! I am getting more and more excited about the prospect of leaving gloomy February in California and heading off to… gloomy February in Paris. icon biggrin Paris & Lisbon 2012 Budget: Is $4.5K Enough? I’ve been quite liberal with spending lately, so I wanted to use this opportunity to really buckle down and save. We are planning on staying for 6 days and 6 nights, 4 nights in Paris, France and 2 nights in Lisbon, Portugal.

My Paris + Lisbon Budget

Airfare x 2: $1,000 for fees and taxes. For 50,000 miles, I can get a round-trip economy class ticket to Paris. Since my British Airways Visa Signature card allows me to rack up 100,000 miles fairly quickly, I should have enough for tickets for both CB and myself. I am going to budget $1,000 for fuel charges and taxes that we will incur when we exchange the miles for tickets. I am going to try to get an openjaw ticket – flying into Paris and out of Lisbon.

Hotel: $1,000 for Paris x 4 nights and Lisbon x 2 nights. I haven’t done much research into hotel options. The one that I’ve found, Hotel Muguet near the Eiffel Tower and Palace Invalides, charges 115€ per night including tax during our dates. A few readers have suggested renting an apartment, but for my first trip I’d be more comfortable at a hotel. For the two nights in Lisbon, I imagine hotel would be cheaper than that in Paris.

Food: $1,400 at $100 or 70€ per person, per day. Obviously, one of the big reasons why we are going to Paris and Portugal is for the food. I don’t expect to spend time in Michelin starred establishments, but I do want to frequent the cute little bistros and neighborhood cafes, enjoy goodor local wine and drink lots and lots of cafe lattes.

Internal transportation: $200. One way ticket from Paris to Lisbon. Apparently EasyJet has some options for one-ways at around 50€ per person.

Tours and entertainment: $600. To be honest, I picked this figure only because it will make our total trip budget a nice round number. We will probably get the 4-day Museum Passes. Other than that, I am not quite sure how much this will cost.

Books and shopping: $300. I plan to pick up a Rick Steves’ guide books to Paris, and maybe a small book of French phrases. I also want to have a little bit of money to buy some scarves (from everything I’ve read, Parisian women are always stylin’ with scarves!) and perhaps a few pieces of custom jewelry at flea markets.

Total: $4,500 If we are very conscientious, perhaps we can cut this down to $4,000.

Do you think this Paris & Lisbon vacation budget is reasonable? Now I need to figure out how to save for this trip…

Galapagos Fund at 50%!

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galapagos penguins 225x300 Galapagos Fund at 50%!Today marks a milestone:

The Galapagos Fund has crossed the $5,000 line. We are officially 1/2 of the way there to our $10,000 goal.

I can’t believe it has already been a year since we first started the fund. The $10K goal was daunting from the get-go. When I first wrote about this goal, it was a 4-5 year plan. Then I thought, heck, life is short. I want to go see the turtles NEXT YEAR.

So the new goal is to go to Galapagos in Spring or Summer of 2012. Which means we have just about a year to save up the remaining $5,000.

Here’s how we got to the first $5,000:

  • April 5, 2010: We open the account and fund it with $500.
  • May 31, 2010: By the end of May, with measly interest and some of my freelance money, the balance has grown to $1,031.30
  • June-September 2010: We didn’t put any money in. We get about $1 a month in interest. By the end of September our balance is $1,035.08
  • October 31, 2010: $300 of freelance money + $1.01 in interest means we now have $1,336.09
  • November 30, 2010: Thanks to CB’s overtime (and the $1-plus in interest), we break the $1.5K mark to reach $1,587.41
  • December 31, 2010: HUGE month for the Galapagos Fund thanks to a sudden burst of saving on CB’s part and a work bonus on mine. We end the year with a cool $3,500.00
  • January – February 2011: Just interest. Balance at $3,508.54
  • March 31, 2011: More freelance money goes into the pot. Pot grows to $4,168.48
  • April 19, 2011: $5,613.48! Thanks to CB’s tax refund and my side hustle, we are half way to Galapagos, baby.

We are not as good about eating at home as we could be (understatement of the year), or else this fund would be much plumper. As you can see, we try to put in a few hundred at a time, and sometimes we don’t add to the fund for a few months at a time. But slowly, the money is adding up.

I am so excited about this trip – I don’t even know where I first HEARD of Galapagos. Ever since I started reading about the islands, though, I can’t get them out of my head. I am afraid that I’ve built it up to be so great that the actual vacation can’t possibly match my expectations. In fact, I googled “overrated” and “Galapagos” to try to gauge the experiences of those who were unimpressed with their trip. But I guess I’ll see when I actually go. I’ve also got bitten by the safari bug (see Madame X’s post about the glorious trip she took to Botswana) and have begun to hound CB about going on a safari after Galapagos. icon wink Galapagos Fund at 50%!

Another $5,000 by April 2011… can we do it? I certainly intend to! It will be so fantastic. I can’t wait to go on this adventure, and I can’t wait to blog all about it.

1. Do you have a travel goal you are saving for?

2. Also, if you have visited the Galapagos, did you think it was worth the time, money, and energy? Would you consider it a “overrated”? I can take brutal honesty!

photo credit: James Preston via Flickr

Eating Out On Vacations

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This weekend CB and I traveled to the absolutely beautiful city of Boston and had a grand ol’ time walking around, meeting up with friends, and eating. Lots and lots of eating.

brunch pic 198x300 Eating Out On VacationsAll this eating has turned into quite an expense. We were in Boston for three full days – in those three days we had:

  • 3 dinners, including a grand lobster dinner at Legal’s Sea Food
  • 5 brunches/lunches (picture on the left is of the crab cake benedict at Stephanie’s on Newberry.  They cost $18 but was 100% worth the price. I can tell that it’s all crab, no filler. Thank you to Saving My Bacon for introducing me to this restaurant!).
  • 2 coffee breaks
  • 1 donut run (can’t pass up Dunkin’ Donuts, can we?)

The total cost of all our meals for two hovered around $350, or around $60 per day, per person. That is much higher than we normally spend, but I tell myself it was a vacation.

What is your philosophy when it comes to eating out on vacations?

Forget the budget and satisfy the senses – after all, it’s a special occasion

OR

Keep the wallet in check to avoid a spending hangover after the trip

I’d like to think I maintain a healthy balance between the two, but when it comes to food and touristy experiences (Duck tours – $65 for two tickets, anyone?), I veer on the side of it’s a vacation!  I did stay in one of the cheapest options I could find in Boston ($140/night hotel), so I gave myself a little more leeway to enjoy the culinary delights the city had to offer.

5 Year Travel Plan: Making Your Travel Dreams a Reality

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I’ve been struck by a bad case of the travel bug lately… I haven’t been out of the country since 2007, which seems like a long time. CB and I are saving for Galapgos, but we also want to travel quite extensively in the intervening months before our Big Galapagos Adventure.

Plenty of people have a 5-year plan for career and educational goals. So why not have a 5-Year Travel Plan? Two years ago, I posted on my Big Ticket Travel Dreams – since then, I’ve accomplished 1 dream on my list (Disney World). Most of the destinations overlap. Here are the destinations on my 5-year Travel Plan (the 5-year mark also coincides nicely with the entrance into my 30s).

manhattan 300x224 5 Year Travel Plan: Making Your Travel Dreams a RealityNew York City:

I’ve been to NYC quite a bit in the last few years, but CB has never gone. NYC is lovely in May/June, so perhaps we will plan for a Labor Day weekend 2010 or a Memorial Weekend 2011 trip. I’d like to stay at least 5 days and 4 nights and squeeze in a Broadway show. A back-of-the-envelope calculation puts our budget at about $1,500.

japan overview 276x300 5 Year Travel Plan: Making Your Travel Dreams a RealityJapan:

CB really wants to go to Japan. I’ve been to Tokyo and Osaka for a short while several years ago, but I’ve never been to Kyoto, the former imperial capital and arguably Japan’s most historical city. I’m not sure how much a trip to Japan would take in terms of both money and vacation days – $5,000 for two including airfare? 8 days? (2 days for travel, 6 days for play). Debt Hater booked a 4-night stay in Toyko & airfare package for only $1,200 in 2009. This will be a 2011 or 2012 trip.

China:great wall 300x241 5 Year Travel Plan: Making Your Travel Dreams a Reality

CB lived in Beijing for several months while I’ve spent time in Southern China. My aunt and uncle work and live in China, so we can stay with them when I’m in their city. For the rest of the trip, CB and I will be on our own (although my uncle can probably wrangle some travel discounts for us). Plane tickets will be around $1,600 for two, with another $1,000+ in lodging / meals / travel within China costs. $4,000 for two for 2 weeks - doable?

China is so huge and there are so many things I want to see that I’d like to devote at 14 days to this trip (2-3 days will be lost to traveling to & from the US / overcoming jet lag). I would like to go to China next year, which would push Japan to 2012. Or, I could try to squeeze China and Japan into two weeks, which would use up all my vacation for the year. 2 weeks is a little short for these two countries, but at least we’d do the bulk of the overseas flight in one go.

australia kangaroo 300x270 5 Year Travel Plan: Making Your Travel Dreams a RealityAustralia and/or New Zealand:

CB has proposed these destinations for a potential honeymoon trip. If it were to be a honeymoon trip.. I want it to be at least 10 days! Budget: no idea. I expect it to be fairly high because of the travel costs (round trip tickets to Australia will be at least $2,500 for two) and because we’d probably want to splurge. So… $7,000?

I would want plenty of snorkeling, relaxing, and eating. And of course, indulging in the world-class culture that Sydney or Melbourne offers.

paxos 300x201 5 Year Travel Plan: Making Your Travel Dreams a RealityGreek isles:

Oceans the color of lapis lazuli and beaches as white as sugar – sign me up please! I’ve been dreaming of the Greek Isles ever since I saw my first picture of Santorini. I’d like to spend a day or two in Santorini, but also visit the other, less well-known islands in the area (Paxos – doesn’t the picture look enticing?). Budget: no idea. I assume this trip would also cost a pretty penny (or $2,500 to $3,000 for a week?).

Pyramid at Louvre Museum 300x225 5 Year Travel Plan: Making Your Travel Dreams a RealityFrance / Italy / Spain:

I would love to do a tour of Western Europe. Sunflowers of Debt Chronicles estimated that her 15-day London-Paris-Germany tour cost $8,000 to $9,000 for two, so I expect that’s about the range CB and I would be look at. Maybe we can shave $1,000 off if we got really good deals or stayed in hostels, but I think a trip of this magnitude would cost at least $7,000. Perhaps this trip will get pushed off until we are older, however.

galapagos1 300x163 5 Year Travel Plan: Making Your Travel Dreams a RealityGalapagos Islands:

Say hello to the dream! People don’t tend to equate savings with romance, but CB and I are committing our financial resources for a future adventure together – what can be more romantic than that?

The cost of trip will be $10,000 to $12,000 for two. We are basing our budget on Lindblad Expeditions. Not sure that’s the operator we will select, but I know that I want a company that offers small groups, safe and comfortable ships, great food, knowledgeable biologists and scientists as tour guides, and a reputation for respecting and protecting the fragile ecosystems of the Galapagos Islands. For operators of similar caliber, I assume that the high prices will be here to stay. I want to do this trip in 2013, before I head to business school.

Thinking about all these travels have really put things into perspective for me – perspective on how much money we’d need to save! New York, Japan, China, and Australia alone will cost almost $18,000. Galapagos will be another $10,000. At the risk of being discouraged, I think this is a good exercise – I don’t want to keep “talking” about how much I want to go to Galapagos or Japan or Greece but never taking the steps to make those dreams a reality. (To be honest, I have no idea how I’m going to fund these travels and max out my retirement accounts at the same… I guess that’s all the more incentive to make sure I perform well enough at work to get the full bonus and refrain from needless purchases).

image source: (1) wired.com, (2) finnair.com, (3) travel.nationalgeographic.com, (4) textually.org, (5) greece-holidays.sunvil.co.uk, (6) photos4travel.com, (7) gliving.com

Share your 5 Year Travel Plan destinations in the comments! Or, if you have advice / feedback about the places I’ve listed here, I’m eager to hear your thoughts.

Journey of a Thousand Miles Begins with a Single Step

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CB and I got our Galapagos Fund (or Account #1234567) set up. Joint accounts don’t appear to offer the option of nicknames. Though we couldn’t name it something fun like “Going to Galapagos,” “Swim with Turtles,” or “Date with Darwin,” a fund by any other name is just as money!

journey of a 1000 miles1 Journey of a Thousand Miles Begins with a Single Step

It truly is great motivation to have a specific “home” for each of our dollars designated toward Galapagos.  The total amount of what we have to save, however, is quite daunting. This trip costs over $10,000 for the both of us in today’s dollars. Our savings won’t be earning an interest rate that matches inflation, so we will need to save even more because we’re losing a bit of real purchasing power every day as we save. (And we’d have to set aside money for things other than this trip – say, retirement!).

  • Assuming a 3% per-year increase in the price of travel to the Galapagos, we will need $11,000 by 2014.
  • A 5% increase means $11,500.
  • In 4 or 5 years, the Galapagos trip will likely cost $12,000-$13,000.

Right now, we have $500 in the fund, or less than 5% of our eventual goal.

There’s a popular saying: “a journey of a thousand miles begins with a single step.” Inspiring and true, to be sure, but I wonder if the poor soul staring down those thousand miles ever thought, “I’m going to 80 by the time I cross the finish line.”

Opening a Joint Savings Account to Save for Vacation

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Galapagos Sea lion and pup Opening a Joint Savings Account to Save for Vacation

CB and I want to take a vacation to the Galapagos Islands, one of my Big Ticket Travel Dreams. I’ve been dreaming about a jaunt to the famed green isles and emerald waters ever since I’ve heard about the place. Galapagos seems like it would be paradise on earth. Entrance to paradise, however, does not come cheap. An excursion with a quality operator (small tour group, knowledgeable guides, comfortable and safe cruise ship with amenities) costs at least $5,000 per person. See Lindblad’s pricing for example.

It’s expensive, but Galapagos is one of those once-in-a-lifetime trips that I really want to do right. In fact, I want so much to go that I told CB I’d rather have an engagement vacation than an engagement ring. Diamonds might be a girl’s best friend but I’d get to swim with turtles in the Galapagos! Easy decision for me. icon smile Opening a Joint Savings Account to Save for Vacation

CB worked overtime a few weeks ago. He suggested we put that money towards the Galapagos vacation instead of frittering it away on eating out (I love food, but I will LOVE going to the Galapagos). I thanked him for his financial foresight and immediately began pondering the question of two committed-but-unmarried individuals who want to set up a joint savings account for a very specific purpose, i.e. a vacation.

Based on preliminary research, ING Direct Online Accounts appear to be a good option for us. We can even set up sub-accounts for other trips. I want a joint savings account that is completely detached from either one of our individual accounts. A very crass way of thinking about it is: in the unfortunate event that CB or I turn into vindictive and heartless people (because aliens have taken over our bodies, of course), the only money either of us can lose is our contribution to the joint savings account.

Although CB said that he doesn’t mind just transferring the money over to my account, I would feel better if it were an account with both of our names on it. Right now it’s not a big deal, but it might feel a little strange when the account gets to several thousand dollars and it’s still in one person’s name. We could just save for the vacation on our own, then write the check when the time comes (we did this for our Disney World trip). But I think having a joint savings account where we can keep track of our progress will be much more motivating.

Does anyone have experience opening ING joint savings accounts? Or with joint accounts in general?

image source: naturetrek.co.uk

This post was featured in the Carnival of Personal Finance: Unanswered Questions Edition hosted by Mighty Bargain Hunter

Disney World Recap

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disneyworld Disney World Recap

I realized that I haven’t really talked about my Disney World adventure (aside from the Dining Plan review) on this blog yet… and well, that oversight must be rectified! If you have any specific questions about Disney World, please ask away and I’ll do my best to answer.

We Got To Disney World…

CB and I went to Disney World for 5 days between Christmas and New Year’s. It, was, in a word, FUN.

We took a red-eye from the California to Florida on Christmas Eve, and we were both so excited that we couldn’t sleep on the plane. We landed in Orlando at the crack of dawn on Christmas. Then we took the Magical Express (Disney’s bus line between airport and the Resort hotels) to our hotel. We were the only ones on the bus, which made it extra cool.

Our hotel was All-Stars Sports, a Value Resort (read: the cheapest). It was comfortable and roomy with two double beds, a big TV, and a small sitting area. The bathroom was a bit small, and thought the room itself was plenty big for the two of us, it would be tight for a family of 4. The bad thing about Value Resorts is that they are situated farther from the parks, but the bus rides are really convenient (they come around every 20 minutes), and it was a relief not having to worry about car rentals or directions or parking.

And Visited ALL the Parks…

We spent two days at Epcot (really a day and a half because we just had to take a nap after a night of not sleeping on the plane), and a day each at Magic Kingdom, Animal Kingdom, and Hollywood Studios.

Magic Kingdom was absolutely magical. The Magic Kingdom is very similar to Disneyland in Anaheim, but it just seemed… even more magical. Cinderella’s Castle was bigger, and at night, the entire castle was aglow in lights. Then at night, it started “snowing” – small bubbles that floated down from the sky and made you feel as if you were in a winter (but still not too cold) wonderland. We saw so many shows and fireworks at all the parks, including Hollywood Studios, where we caught an extreme stunt show and saw the big fireworks show Fantasmic.

Animal Kingdom is what your zoo would be like if it had billions of dollars, hundreds of acres of land, and the Disney marketing machine at it’s disposal. It’s the park that is most unlike any of Disney’s other parks. It’s also the largest park in terms of sheer size. CB and I did pretty much everything in the park in one day, but a family with young children who really wants to see all the attractions might be better off spending 2 days here.

I loved the Kilamanjaro Safari ride – we saw real animals (rhinos, giraffes, ostriches) lounging about. The experience made me want to go on a real African safari (like Madame X did). Better start saving! We had buffet dinner at Tusker House – it was okay. Probably the least memorable meal of the trip, although the food was good enough. We also went on the Dinosaur ride – we were sent off to retrieve a dinosaur and of course run into all sorts of adventures on the ride. A nice lady just gave us her FastPasses because she couldn’t use them, and so we zipped through the lines in less than 10 minutes.

How to explain Epcot - it’s a huge park, made up of two areas FutureWorld and WorldShowcase. It was CB’s favorite park. The FutureWorld portion is devoted to space travel / technology themed rides. We went on the Test Track ride and Mission Space ride (where CB swears it’s at least 4 G’s). It’s so fun to just walk around and see the small buildings of each nation in WorldShowcase. The Mexico spot was house inside a giant pyramid, and we took a boat ride that featured Donald Duck as a singing caballero.

You can buy wine at Italy and France, beer in Germany, and sake in Japan. We saw many adults holding plastic wine glasses… the funny (though not unexpected) thing is, they were mostly the harried parents of young children. Disney offers something for everyone! Epcot also has the best restaurants of any of the parks. There are several excellent sit-down places, especially at the France, Italy, and Japan spots.

At night, over the large lake in the middle of the park, is a fireworks show called IllumiNations. On Christmas Day, we watched the fireworks from our table at a French bistro in “France.” Then CB whipped out a pair of beautiful brio earrings. It was a Christmas present – he had went back to the store by himself after we looked at it in the store because he saw how much I loved the earrings. There, you see, Disney World can be tres romantic!

For our last proper sit-down meal at Epcot, we went to Teppan-Edo. It was most entertaining meal I’ve had at Disney World. Our chef was a petite Japanese girl – she was hilarious. I ordered sirloin steak and shrimp – both were grilled to perfection. Then CB ordered a ginger chocolate carrot cake and I ordered green tea pudding. Both were good, but the green tea pudding was exceptionally rich and creamy. It was so so delicious that CB kept stealing bites.

Where We Ran Around Like Kids…

Disney World has a lot of romantic and picturesque spots, but aside from the romance, it’s just fun to act like kids for a while. We even took pictures with many Disney characters – Mickey, Minnie, Pluto, Goofy, Donald Duck, Stitch, Buzz Lightyear, Winnie the Pooh, Eeyore, Piglet, and Tigger.

Plus, if you are only in a party of 2, you can zip through everything quickly. It’s easier to get everyone up and ready and be the first ones in the park in the morning (when you can get through 2 rides in less than an hour), and for many attractions you’ll be sitting in front because a party of 2 is the easiest number to slot in different rides. We sat in the front on 5 or 6 rides and have skipped over 10+ people on a few rides because they all had larger parties and there were 2 seats open.

And For That We Paid A High, But Not Unreasonable, Price…

Aside from our package costs, we really didn’t buy anything else while at the park. We purchased 2 rain ponchos for $16 total our first day there because it was raining (it was an oversight on our part, we could’ve gotten the ponchos for much cheaper at home). Then in Italy, CB bought us two small chocolates for $2. We spent ~$70-$80 on tips (you have to tip, even at buffets).

We probably spent another $20-$25 on magazines, snacks, drinks for the trip and at the airport. So Disney World is expensive, but it doesn’t have to be unaffordable, especially if you consider that we went during THE most expensive time of the year (between Christmas & New Year’s) and our cost included $1,200+ in airfare for the two of us.

But It Was So Worth It…

If you go during less busy seasons, or if you live closer to Orlando, you can easily knock off $400-$800 per person. But I have to say that nobody does Christmas like Disney World does. The lights were amazing. The whole place was just infused with this sense of – cliche to say – holiday magic. Plus, Orlando in December is nice and cool, and there is no threat of hurricanes!

We took thousands (yes, literally!) of pictures during our 5 days there. Now we’re in the process of culling the pictures down to a more manageable 200 or so that we can put together in a photo album. icon smile Disney World Recap One more thing – if you can avoid checking any luggage, do so! It was great breezing through check-in with only our carry-ons when there was a huge line for all the passengers checking luggage. For the 5 days, I basically lived in 3 pairs of pants and 2 jackets / sweatshirt.

Bottom-line, I had an absolutely wonderful time at Disney World.

We are already talking about going back! (In ten years, when hopefully we can afford to stay at a Deluxe hotel. icon wink Disney World Recap CB likes the Contemporary Resort while I would love to check out the Wilderness Lodge).

A lot of people think of Disney World as primarily a family vacationing spot. It’s true, Disney really goes out of its ways to make things easier for parents and more memorable for young children, but Disney World is also a really good place for couples. It’s the perfect place for our first big vacation together. Once you’ve paid for the trip – especially if you buy the Dining Plan, you don’t have to worry about anything. You’ll eat pretty well and with A LOT of food. Everything is taken care off – transportation, meals, all the entertainment within the parks. Disney Resort is a well-oiled machine!

image source: babble.com

Walt Disney World Dining Plan Review: Worth The Money?

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This post was Consumeristed! Woo.

I’m back from the Most Magical Place on Earth! icon smile Walt Disney World Dining Plan Review: Worth The Money? It was a wonderful trip, and the food was surprisingly good – I’ve always associated theme parks with run-of-the-mill, overpriced fast food, but I’ve had a couple of really amazing dining experiences (albeit still with the Disney premium) at Disney World. Because food is such an important part of any vacation, let’s talk about a review of the Disney Dining Plan.

For my first trip to the Disney World Resort, boyfriend and I have decided to purchase the Disney Dining Plan (a feature available to guests staying within a Disney World Resort hotel). Would we do it again? As you’ll read on, although overall I was fairly happy with the plan, I have to say…. there are a few caveats.

Mickey Waffle 300x238 Walt Disney World Dining Plan Review: Worth The Money?

Mickey is magically delicious!

Basic Dining Plan Information

We got the Basic Dining Plan (there are also Dining Plans a few tiers up, which offered more options but of course also cost more), which gives 1 Quick Service meal, 1 Table service meal, and 1 Snack per person, per day. The fee was $40 per person, per day. We spent 5 days at Disney World, so our total Dining Plan cost was ~$400. The Disney Dining Plan includes taxes but not tips or alcoholic beverages.

  • Quick Service = counter-service meal (think fast-food / food cart entree combo types) + 1 drink + 1 dessert. Usually around $10 - $20.
  • Snack = 1 dessert, drink, or pastry. Usually around $2 – $5.
  • Table Service = sit-down meal (entree + 1 dessert + 1 drink) or a buffet. Usually around $30 - $45.

Is the Disney Dining Plan Worth The Money?

If you select an expensive table service dinner (above $40), you will usually come out ahead of the Plan than if you had purchased the exact same meals not on the Dining Plan. But you’ll see that the Plan is very heavy on dessert – if boyfriend and I were purchasing our meals with cash, we wouldn’t be getting a dessert with every. single. meal.

That is one of my biggest problems with the Dining Plan – it would be much more convenient if we can choose either an appetizer OR a dessert with the Quick Service or the Table Service meal.

The first day we were there, we had dinner at Les Chefs de France, where we selected a prix fixe menu for $37 (soup + entree + dessert) and a drink (~$3). Total for the two of us including tax came out to around $85+. This means that we made back our $40/person Dining Plan fee that day. The last day at Disney World, we ate at Teppan-Edo, another delicious meal that cost us $80+. The other dinners during our stay ranged from $60-$75. Those days we probaly went $5 or $10 above the $40 / per person Dining Plan fee.

To truly take advantage of the Dining Plan, you MUST make advanced dining reservations (ADRs in Disney parlance). People make these reservations several months ahead of time. I made our reservations about 3 to 4 weeks ahead of time, and had to settle for very early (4pm) or late (9pm) dinners because all the other times were taken already. While at Disney World we’ve encountered many families turned away from sit-down restaurants because all the spots were taken. The chances of you getting a walk-in table is very very slim.

If you don’t have an ADR, you won’t come out ahead for the day in terms of Dining Plan costs because basically you will have forfeited your Table Service meal for a second Quick Service meal.

Was the Disney Dining Plan Enough Food?

YES! One thing you don’t have to worry about while on the Dining Plan is going hungry! We were quite stuffed during our trip - good thing we did a lot of walking, or else I might not have been able to fit in the airplane seats on the way back. If you’re not big eaters, two people can even split a Quick Service meal for lunch and be comfortably full.

In Summary: Disney Dining Plan Worth the Money But with Caveats

The biggest benefit of the Dining Plan is the fact that your meals are prepaid and you don’t have to worry about not going to nice sit-down dinner because of money. The Dining Plan is convenient, and, as a big dessert person, I have to say that I did appreciate the fact that we could get desserts with every dinner (although I would’ve preferred the choice to select appetizers).

If you decide not to get the Disney Dining Plan, but you still want to have nice sit-down dinner at the Parks, you won’t save much money – if any – money. A sit-down dinner will cost at least $30 per person, and a fast food lunch will be close to or over $10.

If you are willing to forgo the sit-down meals (i.e. no Table Service), however, you can probably save a little bit compared to the Dining Plan. Assuming 2 counter service meals (i.e. Quick Service) and 1 snack / water a day at $25-$30, you can save $10-$15 a day, per person, compared to the $40 / per person Disney Dining Plan fee. However, for that marginal amount of savings, I’d rather forgo eating out at home and be able to splurge a little on vacation at Disney World. icon wink Walt Disney World Dining Plan Review: Worth The Money?

image source: disneydreaming.com

Paid off My Disney World Trip (aka My Most Expensive Vacation Ever)

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When CB and I booked our trip to Disney World, we put the entire amount on my credit card so I can get the points. Then CB transferred his portion of the travel costs to my checking account.

So a few days ago I paid my credit card bill (which was much higher than usual because of the ~$3,200 Disney-related costs), but it feels so good to get that out of the way and know that we’ll only have incidentals to worry about on our trip. This trip (around ~$1,500 for my portion) will the most expensive trip I’ve ever gone on by myself. It will also be the most expensive trip CB has ever gone on.

But this is why I think Disney was the right vacation spot for our first big trip together:

Last night, as we were driving on the freeway, CB had this HUGE smile and said, “I am so excited!” And without even skipping a beat, I told him, “I know what you’re excited about about!” Then we both just sort of blurted out, “Disney World!” (and in a Disney movie, this is when our car would suddenly transform into a magic carpet and we would glide off into the clouds, singing a rendition of A Whole New World).

aladdin jasmine carpet copy Paid off My Disney World Trip (aka My Most Expensive Vacation Ever)

And yes, that is how excited we are. And that’s what makes an expensive vacation worth the price.

What’s the most expensive vacation you’ve ever went on? Give me details! icon smile Paid off My Disney World Trip (aka My Most Expensive Vacation Ever)

Disney World’s Money Magic: What We’ve Spent So Far

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Disney World promises to deliver the magic – what’s also magical is how effective Mickey & Co is at getting money out of my wallet. Our Disney adventure has already cost us $3,198.56, and we haven’t even set foot in Orlando yet.

Costs Already Paid

  • $1,828.16: Disney package including 5-day base ticket, 5-night stay at a Value Resort, 5-day basic dining plan, and travel insurance.
  • $1,370.40: Plane tickets including cost of $300 to change flights.

Costs Planned But Not Yet Incurred

  • $50: Tips. We will be having 4 sit-down dinners (and one buffet). Assuming an average of $30 per sit-down dinner per person, and 20% tip, our total amount for gratuity should be ~$50. (Disney dining plan does not cover tips).
  • $50: Miscellaneous food items / airport items, etc. We’ll try not to spend this much, but things happen.
  • $65: 2 photo books of our magical memories from Blurb or Shutterfly – one for me and one as a gift for CB.

Costs We Don’t Plan To Incur

  • Checked luggage: United charges $15-$20 for the first item you check. Not unreasonable, but just not something we’ll be paying for. 2 pieces of carry-on should be enough for me for a 5 day-trip. I just have to make sure I bring good walking shoes and a jacket and sweater.
  • Souvenirs: Mickey Ears, stuffed animals, sweatshirts, etc. – I’ll be happy to forgo these items so I can save money to do the photo books.

Given that we are going to Disney World during what is arguably the most expensive time of the year (the week between Christmas and New Year’s) and the scheduling snafu, I think we’ve done the best we could in keep costs down.

And on the “bright” side – all those holiday lights and decorations will be at the Resort! I’m guessing it will be – oh what’s the word – magical.

Disney Dining Plan @ Disney World

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Mickey Minnie Dinner Disney Dining Plan @ Disney World

CB and I both decided to get the basic Disney Dining Plan (1 snack, 1 quick service, 1 table service credit per day, for about $40 per person, per day) for our stay at Disney World this Christmas. Apparently, some restaurants at Disney World fill up so quickly that reservations are needed 90 to 180 days in advance. *blink* I didn’t even know I was going to Disney World three months ago!

Fortunately, I was able to quickly book a few dinners for two through our Disney Dining Plan. Our times are either a bit early (4pm) or a bit late (9pm), but I was pleasantly surprised that not everyone was as gung-ho as I’d thought and so there are still spots open for us latecomers! So far, I’ve made reservations at Les Chefs de France in Epcot, Sci-Fi Dine-In Theater at Hollywood Studios, and Crystal Place at Magic Kingdom. Still have to make a reservation for Animal Kingdom and our second night at Epcot.

We decided that we will be using our table service credit for dinner to get the most bang for our buck. We also decided to forgo signature dining experiences or character dining (two types of dining / restaurants that would require 2 table service credits per dinner per person). If we want to do character dining, i.e. having dinner with Mickey, we’d have to spend 2 table service credits per dinner, per person. I love Mickey, but I love food more. So, no thanks!

I am really glad we decided to get the Disney Dining Plan. The plan takes a lot of the pressure off for trying to figure out where to eat and what our dining budget is. For breakfast and lunch we’ll be relying on the quick service and snack credits – I also plan on bringing crackers and some non-perishables (canned tuna, anyone?) to make quick and easy snacks in the hotel room.

P.S. Learning how to plan a vacation at Disney World is like learning another language. Disney World must be special – instead of calling reservations plain ol’ “reservations”, it must be called “Advanced Dining Reservations” (ADRs).

P.P.S. My post on Disney World is up at the 230th Carnival of Personal Finance. Thank you to host Canadian Finance Blog for including it.

The Ordeal of My Disney World Vacation Planning

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fairy godmother disney The Ordeal of My Disney World Vacation Planning

Wait. You mean this isn’t a Disney movie?

Okay then, well, let me tell you how planning really went down.

Planning Take 1

The first steps were really smooth. I searched for our plane tickets through kayak.com and bought a pair of United tickets. CB and I did our own research, pricing different options, including staying off-Disney Resort at a Downtown Disney hotel.

Then I got an online quote from Small World Vacations, a specialized Disney-certified travel agency that were recommended by MouseSavers.com.  The SWV quote came out to be a few hundred dollars lower than anything comparable we could’ve cobbled together. So I booked my trip through the agency. Best of all, the service is free.

I have never worked with a travel agent before – but I am SO GLAD I did this time (you’ll see exactly why in a few moments). There are so many different types of vacation packages, dining plans, ticket options that I wanted to have a professional in my corner. My agent was friendly and knowledgeable. She didn’t try to upsell us. There was no pressure, just a lot of helpful information. I liked that.

Planning Take 2

Then, today, after our tickets and packages were booked, CB called me to let me know that he got his vacation dates mixed up by a week. *blink* So that’s when I went into the Rescheduling Mode. United charges $150 a person to change / cancel a flight (not to mention their automated voice recognition system annoyed the heck out of me). I managed to rebook us on a flight that is cheaper than our original flight, but with the change fee the flights came out to be around $70 more than our original cost.

Then, the package cost more too, because of the difference in dates. So, the grand total of our vacation will come out to be $3,400. CB very nicely offered to pay for the change fees, so I think my part will be slightly less at $1,600. The trip is still doable, and I’m still excited. This was just a snafu that fortunately got resolved with some (but not insurmountable) mental stress and financial pain.

Why I Am Glad I Worked With Small World Vacations

My agent at Small World Vacations was great. She immediately called Disney and rescheduled our package and managed to get the $50 Disney change fee waived. Having a professional Disney planner working with me helped me stay calm. I don’t want to imagine trying to navigate the Disney system on my own. Now that all this planning is done, I am going to start daydreaming about the lovely sit-down dinners we’re going to have.

Moral of the Story

Make sure of your vacation dates before you book. And I highly recommend Small World Vacations. At least one good thing came of this change in schedule – we’ll be spending Christmas Day at Disney World!

Disney World in December will be a Christmas to Remember

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Did you know that Disneyland in Anaheim, California is known as ‘The Happiest Place on Earth” while the Magic Kingdom park at Disney World in Orlando, Florida is known as “The Most Magical Place on Earth”?

couples in love at disney world copy Disney World in December will be a Christmas to Remember

Money Can Buy Me Magic

This Christmas, CB and I will be heading to Disney World in Orlando, Florida for the magic that only the corporate juggernaut Walt Disney Company can manufacture. And yes, I am checking one off my You Only Live Once travel list.

Let’s Talk Money

The costs will run $2,800-$3,000 for the both of us. We got a 5-day ticket,  5-night hotel stay package at an Value resort including a dining plan for ~$1,400. Plane tickets were ~$1,200 (we splurged for an red-eye with no layovers). Add in travel insurance, allowances for tip, transportation between from home to airport, and miscellaneous costs, I estimate the total cost should come in under $1,500 per person. For planning, I’ve found that mousesavers.com is extremely helpful – it’s a great resource if you’re a Disney fan like me!

Obviously, this is a big, big travel expense. I don’t know if this is the wisest financial decision – I mean, I don’t see how I can argue that it is. I am still job-hunting and thus still income-less (aside from some freelancing). Before I was laid off, I’ve earmarked money for a “big” vacation for 2009. And then I got spooked by the economy and had to study for the GMAT and decided not to do it. (and I really can’t imagine how much Suze Orman would rip me a new one for going to Disney World while unemployed).

***Okay, true story: I was actually a little apprehensive about writing on my decision to go on an expensive trip right now because of what happened with Krystal and the car. But after balancing many considerations (personal, financial, timing, etc.), I’ve decided that Disney World is an okay decision for me. If you disagree, please don’t be too harsh!

Disney World certainly isn’t the lowest-cost destination we could’ve picked (think Vegas, Mexico, Grand Canyon). So we are doing things as cheaply as we could given certain parameters: (1) we’ll be going during the expensive Christmas season, (2) we want to stay at a Disney Resort hotel to take advantage of extra park hours and ease of transportation (we won’t have a rental car), (3) we are getting a dining plan.

The Bottom Line

Despite the big financial commitment, I am so, so, incredibly excited about this trip. This will be our first big vacation together, and probably will be our last vacation until CB comes to visit me in China in 2010 (more details will be forthcoming on that front as plans are firmed up – but in short, there’s a very very high chance I’ll be working abroad in a few months). I don’t know anyone else my age who’d be as excited about Disney World as CB is – I am so happy we’re going together.

When I get back, I’ll be sure to do a detailed write-up of Disneyland costs.