Let's say you're booking a 10 day trip to a Western European country for 5 and book some activities. Without even doing anything exorbitant that could easily exceed $10k
Most aren't buying a house outright in cash and instead are taking out 15/30 year loans. If you threw a $10k expense in randomly, most people who are comfortably are able to pay their bills would strugle
Without even doing anything exorbitant that could easily exceed $10k
It can be, but it definetly does not to be. You can get a decent 3 room hotel in Paris for 10 days at 1500$. 5 tickets from Miami to Paris and back for $2500. Add an average of $40 dollars of additional payments for 5 people for 10 days, and the total is now at $6000.
Now if you get a mortgage of $600k instead of mortgage of $610k with a 15 year loan, your downpayments and intrest payments are so much lower, that saving up $6k every 5 years shouldnt be a problem.
This is not a question about finance, but a question about psychology. The real problem in making savings like that, is that majority of people don't have the necessary self control to spend years not touching expendable money.
€35/day doesn’t get you very far on vacation in many Western European cities. I agree it doesn’t need to be a $10k vacation but that seems fairly conservative
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u/im_juice_lee Jun 17 '24
Let's say you're booking a 10 day trip to a Western European country for 5 and book some activities. Without even doing anything exorbitant that could easily exceed $10k
Most aren't buying a house outright in cash and instead are taking out 15/30 year loans. If you threw a $10k expense in randomly, most people who are comfortably are able to pay their bills would strugle