Message Font: Serif | Sans-Serif
No. of Recommendations: 0
...Thoughts are appreciated...

I would add a car fund to save up to pay cash for your next car.

This is a doubly good thing since not only do you avoid paying interest on a car loan, but while the money is invested it is earning some income for you.

It takes some discipline, but if you do it right then you really need to do this once in your life since after that you then make the “car payments” to yourself and are ready for your future cars.

...While I don't plan to cut out my vacations I will give some thought to where the money goes. I visit Europe yearly and prefer not to live/travel backpacker style....

I suspect that you have never traveled as a backpacker. Excluding airfare, I would estimate that even with the current crummy exchange rate that by “backpacking” and doing things like not always eating at restaurants and staying in hostels (which can actually be fun) that you could easily travel in Europe for less (probably a lot less!) than $75 per day per person by traveling in “backpacker style”.

There is a wide gap between a backpacker’s budget and what you are spending. You should check out Rick Steve’s books that are widely recommended. Part of his travel philosophy is to travel like a middle class European.

There is a “Best Travel Spots/Tips” board that has lots of knowledgeable travelers with great suggestions.

Print the post  


What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.