What are your thoughts on spending money on vacation?

[bibbysoka]

I know the question is vague and it depends on each person. But I am wondering what your guys thoughts are on vacation. Me and my girlfriend love to travel, and we try to do so frugally while also enjoying our time. The reason that I ask this forum this question today is because we hve a trip planned soon for a few days, and while I love spending time going on a trip I keep thinking that my money would be better spent, that I should save my money etc. Does anybody have any advice when it comes to bridging the mentality of spending our hard earned money on enjoyment versus saving it?

 

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[Empires]

I love traveling too, but that time will come when I have more of a means to travel. Right now I am scaling my business and it requires a ton of time and money, so traveling is not in my budget.

But in two years when I have created a money tree and have more time? That's a different story.

 

[Deleted85763]

I know the question is vague and it depends on each person. But I am wondering what your guys thoughts are on vacation. Me and my girlfriend love to travel, and we try to do so frugally while also enjoying our time. The reason that I ask this forum this question today is because we hve a trip planned soon for a few days, and while I love spending time going on a trip I keep thinking that my money would be better spent, that I should save my money etc. Does anybody have any advice when it comes to bridging the mentality of spending our hard earned money on enjoyment versus saving it?

Use the vacation and travel not only as a fun but an investment in your future. If you feel good then you should have more quality ideas about earning more money, new businesses, etc.. I did that years ago. I was having fun but keeping an eye out for opportunity. One hotel I stayed in just happened to be across the street from the headquarters of a company that I know needed some marketing assistance. I called the company and two days later I was at the company discussing ideas and it really changed my life. I was so afraid when the department head said I should stay in an expensive hotel nearby but I did and haha the cost of that stay was like nothing compared to what I earned by visiting the company!

So, yes, if you spend, spend, spend and only get fun you bought fun and just fun. But if you spend, have fun and keep the ideas flowing when you're feeling good then you can earn far more then the vacation costs. Rather the vacation costs may not even be worth considering because you earned so much more by taking that vacation.

 

[bibbysoka]

Use the vacation and travel not only as a fun but an investment in your future. If you feel good then you should have more quality ideas about earning more money, new businesses, etc.. I did that years ago. I was having fun but keeping an eye out for opportunity. One hotel I stayed in just happened to be across the street from the headquarters of a company that I know needed some marketing assistance. I called the company and two days later I was at the company discussing ideas and it really changed my life. I was so afraid when the department head said I should stay in an expensive hotel nearby but I did and haha the cost of that stay was like nothing compared to what I earned by visiting the company!

So, yes, if you spend, spend, spend and only get fun you bought fun and just fun. But if you spend, have fun and keep the ideas flowing when you're feeling good then you can earn far more then the vacation costs. Rather the vacation costs may not even be worth considering because you earned so much more by taking that vacation.

Thank you for this.

 

[psgroup]

Use the vacation and travel not only as a fun but an investment in your future. If you feel good then you should have more quality ideas about earning more money, new businesses, etc.. I did that years ago. I was having fun but keeping an eye out for opportunity. One hotel I stayed in just happened to be across the street from the headquarters of a company that I know needed some marketing assistance. I called the company and two days later I was at the company discussing ideas and it really changed my life. I was so afraid when the department head said I should stay in an expensive hotel nearby but I did and haha the cost of that stay was like nothing compared to what I earned by visiting the company!

So, yes, if you spend, spend, spend and only get fun you bought fun and just fun. But if you spend, have fun and keep the ideas flowing when you're feeling good then you can earn far more then the vacation costs. Rather the vacation costs may not even be worth considering because you earned so much more by taking that vacation.

Yup, you are right.
Traveling is like investing that will help you out in future. It not an expenditure.
See, when you traveling somewhere you are about to open yourself to adopt new things, new culture, new taste and a new thought.
When you meet a new people everyday, after spending some time with him you will get some new thoughts or you may get a new angle to see things just like that when visit a place you are about to explore new things of that place and also you know many things. It will give you not only a pleasure but experience to see that place via others and you learn something new.
So, for me traveling is much more than spending money, it's all about the experience and learning something new.

 

[ZCP]

all trips are business trips.

 

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[Johnny boy]

Run shit remotely. I spent 2 months in Thailand at the end of 2019. I worked on a side business and made some money.

Going to Mexico and other places nearby this winter.

 

[Kak]

all trips are business trips.

Yep, take a meeting with someone wherever you go. Make it a vacation and something that could make your business better.

 

[Kak]

Run shit remotely. I spent 2 months in Thailand at the end of 2019. I worked on a side business and made some money.

Going to Mexico and other places nearby this winter.

I bet you saved money doing that vs life in Washington.

 

[Johnny boy]

I bet you saved money doing that vs life in Washington.

A dinner and drinks here is always $100+ and in Thailand we were having a blast on $70 a day. Beachfront place for $25, scooter rental for $8, etc. It was 90 every single day and in Washington it would've been dark by 3pm and raining 24/7.

 

[peterb0yd]

A dinner and drinks here is always $100+ and in Thailand we were having a blast on $70 a day. Beachfront place for $25, scooter rental for $8, etc. It was 90 every single day and in Washington it would've been dark by 3pm and raining 24/7.

Ha, why do you live in Seattle then?

 

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[woken]

This is a reality. On a lot of occasions when I was in Venice I saw the same thing


I’d rather visit the world while I still can walk the cities.


Vacations are important. I’m writing this 3 weeks in my 2 month holiday in Italy.

Sure, if you’re taking 5 holidays a year and then complain you don’t have enough money then it’s a problem.

I get the whole “work now to enjoy it later” mantra, even for fastlaners, but people need to realize that not everybody will change the world.
I’m not working on a Covid vaccine. Whatever I do, it can wait for me for two weeks.

There’s times when you can’t take a holiday, sure. But lots of business people skip holidays like they’re about to change the world.

Just my 2 cents.


Edit: I’m also against the idea that the money spent on holiday should’ve been invested and maybe in 666 years it would be worth a million trillion zillions.

 

[ljean]

We travel all the time. Just got back from a month of visiting five National Parks out west. During covid we spent 2 months on the beach in Florida. Would likely travel more than we do if kids' schooling wasnt a concern. Its easy once you have your affairs in order to run your life remotely.

 

[MJ DeMarco]

A great take in the book Die With Zero by Bill Perkins is that experiences (vacations) pay a "memory dividend." So the more experiences you have YOUNGER in life, the more that memory dividend pays as you get older.

A 2 week trip to Europe at 25 pays a bigger memory dividend than at 75.

This is why the Fastlane/Unscripted philosophy is so important.

Namely, the Time Value of Time as mentioned in The Great Rat Race Escape .

Youthful vibrant time is more valuable the older debilitating time.

 

[Fox]

For me holidays are big motivation - I literally go all out and do all the things I want to. I don’t party anymore so this is usually an excellent hotel, mountain location, very nice food, big swimming pool, some adventure activities etc.

The flip side is though I earn that reward. I used it as motivation to work smart and work hard and get stuff done. I want it that by the time I take that holiday it’s small change compared to the progress I’ve made.

So if you love travel - great. Now tap into that and use it to do big things and make big moves.

 

[PizzaOnTheRoof]

I’m grateful for the trips my dad took us on as kids but no matter where we went it was a penny pinching vacation.

Fast food, water only, no souvenirs, cheap motels, etc.

We went to NOLA once and simply had to eat at Popeyes because it’s “authentic NOLA chicken”.

To his credit, he was very good at finding cheap, local, hole in the wall eatery’s that were amazing and added to the experience.

Now my view is that vacations are meant to be enjoyed. They are meant to splurge.

I’d rather wait another few months for the trip and save an extra couple hundred or thousand to ball out and make a memory of a lifetime.

 

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[David Fitz]

I feel guilty about taking vacations because I'm not where I want to be yet.

Even though I done a lot of F*cking about in my 20's so now I feel like I just need to focus on making money and finding out what I want to do with my life.

 

[peterb0yd]

It's a personal matter, but it depends on where you lie on this spectrum..

Lifestyle Biz <---------X-------> High-Growth Biz

Lifestyle Biz: you value profitability over growth. You'd rather have a 4-hour work week with a nice income than an 7, 8 or 9 figure exit.

High-Growth Biz: growth at all costs. All profits go straight back into the biz. VC or angel investment through funding rounds is almost mandatory.

The "X" marks my position.

I'd like to work three-four months straight, then take a nice big vacation for a week or two... and maybe take a few weekend trips in-between. With my current venture, I'll likely need to take funding from angels or a small VC, but I'm taking my time getting there. I'm waiting until I have product-market fit. I'm building a software product instead of a service business because I want it to be able to scale.

All depends on what you want. This is what I want.

 

[MitchC]

Glad to hear everyone is recommending you travel and enjoy it while you can because that is exactly what I was going to say.

that’s the difference with fastlane vs typical financial advice.

you will be refreshed and motivated to work when you get back, you’ll be full of new ideas and experiences and motivated to work hard so you can do it more often. After about 3 weeks of being away I’m always itching to get home and work and get back into a good routine, I don’t know how people travel for a year at a time I couldn’t do that.

 

[GIlman]

Travel is great as long as your doing it with money you have. If your going into debt to travel I would not do it or find some other form of travel/leisure that did not drive you into debt.

Debt will be a chain that holds you back and your business too long after the vacation is over. So long as you do things within your means go for it. If not focus on increasing your means first and then go enjoy yourself with some of the fruits of your labor.

 

[Xavier X]

When you travel perpetually like I do, it becomes a balancing act. Been traveling for 4 years.
Being in "woohoo! vacation mode" all the time is not sustainable long term, for quality of life and productivity. It drains your energy, so I prefer to take it easy with the jumping around, except I'm only there for a few days.

On my typical month+ stays, I'm not jumping from one tourist site to another daily, and doing all the things. I prefer a calmer life wherever I am, and do more active things here and there, over the course of my stay. Which is why I rent comfortable airbnb apartments for long stays, and rarely stay in hotels more than a few days.

Difference is I'm physically there, and can choose to go into partying and running around vacation mode for a few days, whenever I feel like, and then shut it off. This style works for me, as far as maximizing my world travel enjoyment long term, without compromising productivity and a good quality of life.

 

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[woken]

Also guys, do you feel like you need a resting period after your holidays?


I’m always getting into “ get things done” mode when the vacation is about to end.

But I always feel like a need 2-3 days to rest after I come back

I don’t do parties, now or before covid.
All I do is visit, relax, swim, sun bathing and it’s exhausting

 

[Rishi]

A great take in the book Die With Zero by Bill Perkins is that experiences (vacations) pay a "memory dividend." So the more experiences you have YOUNGER in life, the more that memory dividend pays as you get older.

A 2 week trip to Europe at 25 pays a bigger memory dividend than at 75.

This is why the Fastlane/Unscripted philosophy is so important.

Namely, the Time Value of Time as mentioned in The Great Rat Race Escape .

Youthful vibrant time is more valuable the older debilitating time.

Hello MJ

Thank you for your great work

I just posted a query about this - Time Value of Time

THE DISCOUNTED TIME PRINCIPLE: Trading Good Time for Bad is a Terrible Life Strategy

'A 2 week trip to Europe at 25 pays a bigger memory dividend than at 75.'

I really get this and being in 30's now I really wish to implement this principle and as a priority have these experiences over the next few years.

It seemed a little at 'odds' with what I thought your philosophy actually was, so just wanted to delve into it more than just as a vague principle.

Thank you

 

[Johnny boy]

Ha, why do you live in Seattle then?

Because this is not a remote business. I get to have a lot of free time in the summer in Washington here, and winters I can travel anywhere for a couple months. It's a good gig despite the lack of mobility in the spring-fall.

 

[vanshchandwaney]

I know the question is vague and it depends on each person. But I am wondering what your guys thoughts are on vacation. Me and my girlfriend love to travel, and we try to do so frugally while also enjoying our time. The reason that I ask this forum this question today is because we hve a trip planned soon for a few days, and while I love spending time going on a trip I keep thinking that my money would be better spent, that I should save my money etc. Does anybody have any advice when it comes to bridging the mentality of spending our hard earned money on enjoyment versus saving it?

If you love to travel, do it by all means. Saving money is great, but if you're saving instead of doing something that you KNOW will make you happy and rejuvenated, there's no point in it (I save on material things more than experiences because the former does not make me genuinely happy). Plus, look for ways to travel on a budget if you're money-conscious. Airbnbs are way more fun than hotels imo, and I always prefer travelling to offbeat places. The tourist-y cities are expensive, and often you come back feeling tired, instead of relaxed. I went to Bhutan a couple of years back, and it was absolutely beautiful!!