How do you pay for cruises

[MicCanberra]

4 hours ago, Cruise Junky said:

We have a vacation account that we transfer to every payday. We both have Employee Stock Purchase Plans...his goes into Retirement, mine goes into Vacation.  I dollar cost average every pay buying foreign currency for our next trip...loving that aussie dollar right now, Sorry Mic 😉 and then our bonuses certainly help but I never count on them.  Marriott points from my AMEX for hotels, Alaska Airlines MC for Companion Ticket, all helps.

Take advantage when you can. We did when it was stronger than the USD knowing it wouldn't last long..

[clo]

30 minutes ago, MicCanberra said:

That sounds like a debit card to me.

IIRC you're not taking the money from the account but rather securing the credit card transaction with the money.  Say you have $200, then you can charge up to $200 and if you make your payment(s) then over time you'll build up your credit score.

[clo]

10 hours ago, SailorMan20 said:

 I don't have $4,299 to go load on a prepaid card upfront.

So now you're saying, what?, $1499?  It's tough to answer questions when you change all the time.

[pris993]

we have always planned ahead, book usually a year out.  If air involved we try to use miles or purchase in advance, so that it is paid for separately.  We charge the cruise, pay it off when bill comes.  Do the same with other expenses.  When we return everything is paid for within a month.  We start savings for next one.    We take 2 major trips a year.   

[MicCanberra]

4 hours ago, clo said:

IIRC you're not taking the money from the account but rather securing the credit card transaction with the money.  Say you have $200, then you can charge up to $200 and if you make your payment(s) then over time you'll build up your credit score.

I have a debit card that is not attached to my savings account. I just load some money on it like a travel card.

[DarrenM]

16 hours ago, yorkshirephil said:

Your life your choice and if you are enjoying it great, however what if your pensions are worth more than you may expect, you could retire early and cruise more.

 

This is probably controversial amongst you cruisers, but you know what? I dont want to retire early. I havent always enjoyed my job, but I DO my current one. I travel all over the UK, and meet new people on a daily basis, but I also have targets to meet, and they are challenging, but I believe they keep me fresh and keep my head steady. And not only that, a larger proportion of the folk I work with are now younger than me, and I love that too.

 

A family friend of ours who was a highly qualified Nurse, and Nursing Manager, retired at 53, three years ago. He is 56 now, and looks 76. He has aged markedly in that time. And yes he cruises. But he has lost his edge.

 

I want to do both. Work and Cruise. And play hard when doing both.

[DarrenM]

I have felt for a long time now that credit cards are evil. Yes I have one, and its got a large limit on it, but I try not to use it, and keep the balance at zero. Credit card firms were to blame for huge numbers of folk getting into serious debt. And it was a deliberate ploy.

 

Many folk should be advised to not have one, not the other way round.

 

Like the idea of prepaid ones though.

[MicCanberra]

9 minutes ago, DarrenM said:

I have felt for a long time now that credit cards are evil. Yes I have one, and its got a large limit on it, but I try not to use it, and keep the balance at zero. Credit card firms were to blame for huge numbers of folk getting into serious debt. And it was a deliberate ploy.

 

Many folk should be advised to not have one, not the other way round.

 

Like the idea of prepaid ones though.

Like just about anything, if used properly and in moderation, there is no harm in it. Credit cards are the same.

[Texas Tillie]

7 hours ago, MicCanberra said:

I have a debit card that is not attached to my savings account. I just load some money on it like a travel card.

 

A debit card in the US is a card attached to your bank account. It has an association with Visa or Master Card and can be used like a credit card or used at the bank's ATM to get cash, etc. No money in your checking account, the card will be denied. The problem is that if someone gets your card they can drain your checking account and there's no law that says the bank has to make you whole again. With a credit card, if there is fraud, you are on the line for $50 max. What you are calling a debit card is a prepaid credit card here.

[Texas Tillie]

5 hours ago, DarrenM said:

I have felt for a long time now that credit cards are evil. Yes I have one, and its got a large limit on it, but I try not to use it, and keep the balance at zero. Credit card firms were to blame for huge numbers of folk getting into serious debt. And it was a deliberate ploy.

 

Many folk should be advised to not have one, not the other way round.

 

Like the idea of prepaid ones though.

 

Are credit cards evil or are people (some) totally irresponsible? Some people can't be saved from themselves. Put the blame where it belongs.

[navybankerteacher]

7 hours ago, MicCanberra said:

I have a debit card that is not attached to my savings account. I just load some money on it like a travel card.

I think you are talking about what in the US is called a pre-paid credit card.

[MicCanberra]

8 minutes ago, navybankerteacher said:

I think you are talking about what in the US is called a pre-paid credit card.

Then what you call debit cards would be what we call Savings cards.

[DirtyDawg]

1 hour ago, Texas Tillie said:

 

A debit card in the US is a card attached to your bank account. It has an association with Visa or Master Card and can be used like a credit card or used at the bank's ATM to get cash, etc. No money in your checking account, the card will be denied. The problem is that if someone gets your card they can drain your checking account and there's no law that says the bank has to make you whole again. With a credit card, if there is fraud, you are on the line for $50 max. What you are calling a debit card is a prepaid credit card here.

 

Do you have PIN numbers for your debit cards in the States? Do you have daily maximums with the debit cards? Do you have the Tap feature for debit cards yet?

 

In Canada, as long as you report a card lost, or PIN number compromised promptly, and contribute to the investigation there is no liability for the consumer. If you do something stupid, like write your PIN on the card, there is some liability, usually up to the daily withdrawal maximum. In rare cases the liability could extend not only all the funds in the account but the overdraft protection amount as well.

 

Edited July 6, 2019 by DirtyDawg

[navybankerteacher]

1 hour ago, Texas Tillie said:

 

Are credit cards evil or are people (some) totally irresponsible? Some people can't be saved from themselves. Put the blame where it belongs.

Of course credit cards are evil - just like hatchets: remember Lizzie Borden?

[DirtyDawg]

1 hour ago, Texas Tillie said:

 

Are credit cards evil or are people (some) totally irresponsible? Some people can't be saved from themselves. Put the blame where it belongs.

 

13 minutes ago, navybankerteacher said:

Of course credit cards are evil - just like hatchets: remember Lizzie Borden?

 

But Lizzie wouldn't have been able to buy that hatchet without using her credit card. Evil X 2.😉

 

And how do you think Rocket-man paid for all his nukes in North Korea;  American Express Platinum Card. 

Edited July 6, 2019 by DirtyDawg

[Texas Tillie]

46 minutes ago, DirtyDawg said:

 

Do you have PIN numbers for your debit cards in the States? Do you have daily maximums with the debit cards? Do you have the Tap feature for debit cards yet?

 

In Canada, as long as you report a card lost, or PIN number compromised promptly, and contribute to the investigation there is no liability for the consumer. If you do something stupid, like write your PIN on the card, there is some liability, usually up to the daily withdrawal maximum. In rare cases the liability could extend not only all the funds in the account but the overdraft protection amount as well.

 

 

I don't use my debit card except to make transactions at the ATM machine at the bank. There is a PIN number for that but someone else will have to speak to if all transactions at stores require the PIN. There is a maximum at the ATM, but here again I don't know about merchants.  I haven't seen any tap cards, so I have no idea if anyone is issuing them. They said the problem there is the shear number of merchants that will require new machines and the cost for that.

 

Why use a debit card when you can float the purchase for a few weeks up to six weeks depending when the cut off date is for the credit card? You earn interest on the money while it sits in the bank (admittedly a pittance these days) and earn miles or cash back on the credit card purchase. Of course, all this assumes you are a responsible person and can manage money. 😱

[navybankerteacher]

38 minutes ago, Texas Tillie said:

 

I don't use my debit card except to make transactions at the ATM machine at the bank. There is a PIN number for that but someone else will have to speak to if all transactions at stores require the PIN. There is a maximum at the ATM, but here again I don't know about merchants.  I haven't seen any tap cards, so I have no idea if anyone is issuing them. They said the problem there is the shear number of merchants that will require new machines and the cost for that.

 

Why use a debit card when you can float the purchase for a few weeks up to six weeks depending when the cut off date is for the credit card? You earn interest on the money while it sits in the bank (admittedly a pittance these days) and earn miles or cash back on the credit card purchase. Of course, all this assumes you are a responsible person and can manage money. 😱

Makes sense - never spend money you do not have; but if a credit card company is willing to lend you money -at no interest- for a month or so, and also give you points towards a free flight or other benefit,  while relieving you of the necessity and risk of carrying around large amounts of cash — you would have to be a damn fool to not use that card.

[sprint180]

On 7/3/2019 at 8:52 AM, Nic6318 said:

 

 

Hi

 

So, your first 3 options suggest that you spend less than you earn and actually have money to buy things that you need/want.

 

This is typically accomplished through budgeting and setting priorities.

 

The other 2 options suggest you haven't gotten your financial house in order yet. Very often employed by younger people. If you try to employ those strategies too late in life, you will find it very hard to get to a point where you don't "need" to work. If you like working that's not a problem, unless you can't or aren't able to work.

Agree. But not having your financial house in order applies to all ages. I see it every day where I work unfortunately. 

[sprint180]

9 hours ago, DarrenM said:

I have felt for a long time now that credit cards are evil. Yes I have one, and its got a large limit on it, but I try not to use it, and keep the balance at zero. Credit card firms were to blame for huge numbers of folk getting into serious debt. And it was a deliberate ploy.

 

Many folk should be advised to not have one, not the other way round.

 

Like the idea of prepaid ones though.

Credit card companies aren’t to blame. People use credit cards irresponsibly.   I love the saying. When you choose the action, you choose the consequences.   

[clo]

1 minute ago, sprint180 said:

unless you can't or aren't able to work.

I have a friend who makes a decent but not grand living as a lawyer.  But he lives large.  And he says he never plans to retire so hasn't managed his finances with regard to the future.  I said to him only once: you may not plan to retire but what if something happens and you have to?  And it doesn't have to be retirement either.  What if you suddenly lost your job and can't find another one?  Ever.  Do you have enough money?  Somewhere?

[sprint180]

To the ops question. I have a savings account. Every month I put money in it. Also any birthday money it “found money”.   I cruise with my children. Every one pays their own way. 

Also don’t eat out.    Don’t drink or smoke.  Don’t have satellite or cable. That alone is huge. I know my fil pays over $100 a month on that alone. Basically we live pretty simply. 

Edited July 6, 2019 by sprint180

[Joebucks]

It's a shame to so many "preferences" chosen on baseless reasons, leaving money on the table or spending beyond means.

 

When the Chase Sapphire Reserve first came out, I balked at the $450 annual fee and thought that was the most ridiculous thing I have ever heard. Fast forward to today, my only issue is I wish I had applied to it sooner. The bonus was higher, and I would have accumulated more points. If you spend a significant portion on travel and dining, it is worth every penny.

 

We are able to pay down our cruises entirely in Ultimate Rewards earned from our various Chase cards. And no, I'm not some 6+ figure earner spending huge amounts. Everything possible goes on the card. Never, ever cash. Certain purchases use different cards. We also don't book hugely expensive cruises. A few simple choices in life make a huge difference. We take a $1500 cruise with no out of pocket expenses instead of paying $3000 out of pocket for "more". In the end, how different would my cruise memories REALLY be? This approach allows me to travel multiple times per year and not even feel it.

[Toofarfromthesea]

11 hours ago, MicCanberra said:

I have a debit card that is not attached to my savings account. I just load some money on it like a travel card.

 

I have one of those also.  But this is different.  A secured credit card is still credit.  Putting up security for a credit card is like putting up security for a loan.  They only go after the security if there is a default.  Meanwhile if you make the payments on time you build a credit history.  Nothing you do, with respect to a debit card, will do much for your credit rating - unless you overdraft with it which would be bad.

Back in the day, as a young guy in his first post-college job, I wanted to buy a car that cost 4k.  I had the money and could have paid cash.  Instead I put 2k down on the car, and took out a loan for the other 2k.  Since I had no credit, I got the loan by depositing 2000 in a savings account and using that account as collateral.  And then, as I made the monthly payments I started establishing a credit history.

We also guided our daughters in purposefully establishing a good credit score by borrowing and paying off, when they could have paid cash.  Their credit scores were built well enough that both now own homes despite being under 30.

 

[Toofarfromthesea]

9 hours ago, DarrenM said:

I have felt for a long time now that credit cards are evil. Yes I have one, and its got a large limit on it, but I try not to use it, and keep the balance at zero. Credit card firms were to blame for huge numbers of folk getting into serious debt. And it was a deliberate ploy.

 

Many folk should be advised to not have one, not the other way round.

 

Like the idea of prepaid ones though.

For financially responsible folks credit cards are a fantastic tool for both convenience and perks.  I would never let the fact that some people are irresponsible and get themselves in trouble deter me from using them.

But in a larger sense they ARE evil, IMO, because they are an important step on the road to a cashless society, and a cashless society is a surveillance society.

[Cruise Junky]

10 hours ago, DarrenM said:

I have felt for a long time now that credit cards are evil. Yes I have one, and its got a large limit on it, but I try not to use it, and keep the balance at zero. Credit card firms were to blame for huge numbers of folk getting into serious debt. And it was a deliberate ploy.

 

Many folk should be advised to not have one, not the other way round.

 

Like the idea of prepaid ones though.

 

You’re giving way too much power to a piece of plastic. Credit cards aren’t at all evil. people that have no control of their spending, buy things that they don’t have the money for and frankly don’t have much financial sense that should probably not own one.