Would you go on this trip?

August 3, 2023 1:41 PM

I have a trip to Mexico City booked for the end of the month, but I'm having some second thoughts about it, financially speaking. Total cost of the trip will be about $2300, so let's say $2500 to account for unanticipated expenses. The only hard cash I've put out so far is the flight, about $600 (factored into total). I can get a credit to use on a future flight.

I'm thinking of canceling for a couple of reasons. One, I'm trying to aggressively pay down some debt ($4000) so I can then start adding to my emergency fund. My goal there is to have $25K and right now I have $7K give or take. Once that's done I want to aggressively up my 401K contributions to lower my taxable income for student loan purposes and also to make up for the years I've slacked off on that (I'm 42 and only have about $10K in retirement savings.) Other relevant financial details: only other debt is a mortgage and a car loan (which is almost paid off--the monthly payment is absolutely negligible.) The trip would only put me behind paying off the rest of the debt by a month, but OTOH, that's a month and I already feel way behind.

Two, emotionally and physically I'm only doing so-so right now; it seems like a nice idea to take my scheduled PTO and just do a staycation. Plus there are projects around the house I haven't really had time to deal with that I really need to get done. And I was just in Mexico City last November; I can easily postpone the trip until the spring.

tl;dr I feel like going into a Mexico City trip in 6 months with no credit card debt, and a nice increase to my emergency fund will make for a less stressful trip without second-guessing every little thing I spend money on (even if Mexico is cheap, it's not free.)

Thoughts?

posted by rhymedirective to Work & Money (18 answers total)

I would postpone the trip and enjoy a little staycation in the meantime. I assume that $4k is credit card debt? If so, paying off a chunk of it with your travel budget will make a real difference, and the eventual trip will be much more relaxing if you don’t have that debt in the back of your mind the whole time.
posted by third word on a random page at 1:58 PM on August 3, 2023 [16 favorites]

My rule of thumb about recreational travel is that unless it’s a “hell, yes!” It’s a “hell, no.” Give yourself permission to postpone the trip until you are 100% on board and excited about it.
posted by Atrahasis at 2:03 PM on August 3, 2023 [33 favorites]

You know what's even better for stress than a nice vacation? Not having a constant background worry about money.

Cut your losses, postpone for now, and go sometime when you're better situated.
posted by Nerd of the North at 2:24 PM on August 3, 2023 [3 favorites]

I mean, its hard to argue with your logic - you lay out a very strong set of reasons, and reasons you seem invested in, as to why you should delay your trip.
posted by RajahKing at 2:34 PM on August 3, 2023 [3 favorites]

I think you already know the answer to this question. :) Postpone the trip, and enjoy yourself at the end of this month AND in 6 months' time.
posted by heatherlogan at 3:04 PM on August 3, 2023 [2 favorites]

I guess someone needs to be the voice for fiscal irresponsibility, and I just quit my job to travel so I’ll volunteer. I would go! But I do wonder how long you’re planning on going for - ~2000 is a big budget for CDMX, depending on the length of your trip you could probably spend half that.
posted by catcafe at 3:51 PM on August 3, 2023 [6 favorites]

Mexico City isn't going anywhere. It'll still be there when you want to take a trip to celebrate your being fully out of debt. As long as that trip is paid for with savings and not debt, that is!

tl;dr I feel like going into a Mexico City trip in 6 months with no credit card debt, and a nice increase to my emergency fund will make for a less stressful trip without second-guessing every little thing I spend money on

Yes, this. Take the staycation now, and go to CDMX next year.
posted by pdb at 5:38 PM on August 3, 2023 [2 favorites]

I can't talk on the money responsibility part of it.

But really evaluate whether or not you'd be able to rejuvenate your mental state - or get anything done - on your staycation. Or will you end up watching tv and scrolling social media because you feel too guilty about the projects to rest, and too in-need of rest to do the projects?

If the answer to that is no, well... consider going. Or switching to a third, less expensive option that is neither of the above, but still gets you away from home so that you can remove that guilt.

But really... a month? It'd just set you a month behind your financial plans? That's such a small amount of time that it's really irrelevant which you choose, so you might want to put some effort into your anxiety that's making you obsess over it. Because without doing that, it won't matter which you choose; it'll just find something else to make you feel stressed and guilty over at the later time.
posted by stormyteal at 6:29 PM on August 3, 2023 [18 favorites]

Are you sure it's mostly the financial reasons that are the primary reason for wanting to cancel? Or do you have some other anxieties around the trip? (Not looking for an answer here, just something to think about)

You also mention not being in a great headspace to travel, but as per stormyteal, is taking time off and staying home going to make you feel any better? If there's any chance at all that you would sit around and wish you were in Mexico, I'd take the trip.

Disclaimer: I like to travel and the lesson I took from covid was to always travel when you can because you never know what's around the corner. You might have a different point of view. Hope you enjoy your break whatever you decide to do.
posted by pianissimo at 7:37 PM on August 3, 2023

I don't think there's much that's as good for your mental state as going away somewhere.
posted by AugustusCrunch at 7:51 PM on August 3, 2023

If it is really just one month delay in repaying debt that this would cause, that seems like a small cost for what could be an amazing trip. (I loved CDM the last time I was able to go.)

On the other hand, if you are posting this just wanting support for making the decision you've decided on, yes, CDM will be there in six months or six years or whenever you decide to go next time.
posted by Dip Flash at 7:52 PM on August 3, 2023

Mexico City isnt *that* cheap and the mxn/usd exchange rate is the worst it has been in years. You have this random stranger’s blessing to take a pass.
posted by Tell Me No Lies at 8:16 PM on August 3, 2023 [1 favorite]

Two, emotionally and physically I'm only doing so-so right now; it seems like a nice idea to take my scheduled PTO and just do a staycation.

If I'm reading this right and the perspective of this trip is emotionally exhausting then I'd cancel without a second thought. I personally need energy to travel and would prefer a staycation when physically and emotionally spent. If you are energized by travel that's different but from your wording it sounds like that might not be the case.

Plus, I've been on foreign trips with little savings and it definitely added to the stress. Even small travel mishaps cost money and losing your bag while stressed about money versus dealing with it when you have a little cushion is very different.
posted by M. at 12:00 AM on August 4, 2023 [3 favorites]

But really... a month? It'd just set you a month behind your financial plans? That's such a small amount of time that it's really irrelevant which you choose

Sometimes the feeling of being in debt can be overwhelming, and to be on the verge of paying it off and then having to hold off - it doesn't feel irrelevant, and I can relate.

It sounds like you go to Mexico often? I guess the only big reason to (possibly) not postpone is if you have family etc. there, maybe elderly people, such that visiting now might actually affect people differently than visiting later.

But otherwise - yeah, paying off debt feels very good, and being able to actually afford things feels good, and if you think you'd feel better in the spring then go for it.
posted by trig at 12:40 AM on August 4, 2023 [1 favorite]

A compromise: don't go on the trip - it doesn't sound like you want to, for good reasons right now - but treat yourself to a short break somewhere not too far, that will cost a fraction of the expense. A weekend at a nice hotel with a pool etc, and good food? Just something to say "I've had a break" and on which you can fully relax.
posted by fabius at 5:03 AM on August 4, 2023 [4 favorites]

I don't think that shifting to a life of asceticism is necessarily going to alleviate stress either, though I do agree that paying down CC or other high-interest debts is going to be a lot more important than taking a trip. TBH, I'd prioritize that over savings as well barring any other extenuating circumstances. High-interest debt can get away from you very quickly; even if it depletes your savings it's likely still a better idea to pay it off as soon as you can, even if that means postponing some more fun things.

Taking the time off for a staycation or lower-cost vacation sounds like a good idea though. It sounds like you might need a break even if Mexico isn't the one you end up doing.
posted by Aleyn at 1:27 PM on August 4, 2023

Response by poster: Thanks everyone; still not sure what I'm going to do, but one thing I don't have to worry about is credit card interest--it's 0%. It's debt from a home improvement project that now that I have 2/3 of it paid off, I suddenly want it gone.
posted by rhymedirective at 2:39 PM on August 4, 2023 [1 favorite]

Response by poster: Update: I did not go on the trip and did not regret for a second, so I made the right call.
posted by rhymedirective at 7:41 AM on September 13, 2023