It become easier and easier to dip into your savings once you have established a reason to do so no matter how small the amount is.
You don't want to establish patterns of taking from your savings to purchase a house.Getting off the main track would mean you are now setting the date to purchase your house into 2016.
You have set a goal of buying a house in 2015,and moving into your own house and no longer required to stay with relatives. Anything that alters this goal is nonproductive.
I am not oppose to you making a trip to NYC. I am oppose to you using your savings for this trip. If you are able to find other money for this trip and not touch your savings, make your appearance on Broadway and have fun fun.
I hope this has been of some benefit to you, good luck.
"FIGHT ON" .
Go to New York.
I am very practical and responsible with money. Trust me. I don't often tell people to take vacations...lol.
You have no debt. You have a supportive family. You are saving 85% (!!!!!) of your income. You can afford to spend $700 on something you as a couple have always wanted to do.
If you are truly saving 85% of your income each month I can't imagine $700 will push back your home purchase back very long. Even if you both have $10/hour jobs that's still only a week or two.
And your in-laws might enjoy having you gone for two days...lol. Bring them something thoughtful from NY. It doesn't have to be expensive...how about a basket of awesome bagels?
Consider how long it takes you to save another $700. Is taking the honeymoon now worth delaying the house that long?
If his parents aren't happy about you living there rent-free, then spending a chunk of money is a bad idea.
But if there's no urgency, then go enjoy having so much excess savings.
Well you are correct - if you spend $700 on a vacation then you are $700 further away from having enough money for a house. Also, I hope you are contributing to the household of your husband's parents. It does cost a lot more money to have two families in one household so you should be kicking in at least $200 per month for utilities, water, groceries etc.
For a second here I will be your in law praising god you are out of MY house for a few days. Second take I am your in law wondering why in the hell you do not stop saving and get the hell out of MY house. Why don't you move out, don't you think they deserve the peace and quiet of their own lives. And as your in law seeing you blow 700 while I buy you food ain't gonna' go over very well. YOU personally need to grow up.
Go to Newark and stay in a less costly Marriott using your rewards. Go into NYC by train each day and get on the hop on hop off bus and see some of the sights. When you have moved into your new house in a year or so then you can go for the fancier trip. Believe me, it will still be there.
First thing that strikes me about your question is the math. Do yours and see if you will have a downpayment saved up by spring 2015. Find out from a real estate agent what kind of home (the cost of) with that down payment.
About New York, it is not going anywhere so figure out your priority, two days in New York or however long that would add to your rent free stay with his parents.
Make sure you are writing a rent check each month to the in-laws. When you go to apply for your mortgage you need proof you've been paying rent for a year (cancelled checks).. receipts don't prove anything. Since your not really paying rent, they can cash the check & give you the money back, but without a provable rental history you won't qualify for the mortgage. As for the trip that's up to you! Good luck!
New York will still be there later.
you should be discussing this with your husband and do what he suggests.
Edit - notice how everything is "I" "I" "I" "I" "I" ? its not unil the second update do you bother to say "we". You're just like a child throwing a tantrum.
My husband and I are living with his family because our lease was not renewed from our apt and we are saving to buy a house in spring of 2015. Because we have so little monthly bills, we are able to put away 85% of our paychecks. We don't spend too much a month on extras. We started saving this month. October is our 2nd year wedding anniversary. I have been wanting to go to NYC since I was 16 years old. We planned to go on our honeymoon, but that hurricane closed down NY and we had to change our plans. I was devastated. We used our Marriott rewards card and were able to reserve a room at the Marriott Marquis in Times Square. We figured the cost of the trip would be around $700 for 2 days. We live in PA. But I feel like if we spend that money we're losing savings and I'm torn. I want to go to NY so bad, but I want a house and I want to not have to live with his parents for longer than we need to. I don't know what to do? What would you do in my situation?
