An Ill wind and your travel budget

[tgh]

It is an ill wind indeed that blows nobody any good, so as we are not travelling anytime soon (or maybe even later ) our budgets should be stacking up.
Most of us are suffering some level of economic distress.. but has this killed your budget ?
What are you going to do about it ?

I guesstimate a projected target of $30> 60kpa for our International travel over the next few years, so now what am I gonna do with the dough?
Options : Travel in au and nz , stay in really nice properties and ignore the familiarity … or even do some coastal cruises.
It won't be the same though..

 

[jb747]

About 6 times my projected travel budget for the next couple of years has disappeared from my super, so in reality there is no extra money at all.

 

[RB]

I think there will be a lot of travel budgets take a big hit before this is all over. I guess it also depends on your life stage & risk profile ( my guess is many people will realise they are more risk averse than what their investments were at say Jan 2020)

Edit to note my post was made without seeing jb747's post & I was making no reference to his circumstances

 

[Pushka]

About 6 times my projected travel budget for the next couple of years has disappeared from my super, so in reality there is no extra money at all.

I have not dared look at mine. At least being self employed we can still keep topping it up and not drawing it down yet. I look at travel this way - we were going to hand over around $17,000 next month but as the cruises are going to be cancelled, and we are getting a refund from Qatar, then we've actually saved money! . But being a cruise, the cruise line won't cancel until after final payment date because they need our money to pay for the April cruises they've had to cancel. Then they will cancel ours and we wait 90 days for return of our money. Yeah, as if!

 

[tgh]

Super fund valuations should recover most of the losses over time.. it's a long frame game
I have taken some huge hits in the past but it has always come back and I expect it will this time too...

 

[Vic]

did an interesting webinar last night. In terms of estimated GDP impact covid-19 is about the same scale as the great depression.
Time to hoard the travel budget with the toilet paper.

 

[Rugby]

This years travel budget of approximately $40K will now be ploughed into non-concessional super contributions and cash savings - the new ‘sexy’

 

[drron]

Super fund valuations should recover most of the losses over time.. it's a long frame game
I have taken some huge hits in the past but it has always come back and I expect it will this time too...

I only hope that I am still around when it makes it's comeback.

 

[Pushka]

This years travel budget of approximately $40K will now be ploughed into non-concessional super contributions and cash savings - the new ‘sexy’

Sad but true.

 

[Vic]

I only hope that I am still around when it makes it's comeback.

You'll be right, apparently injecting disinfectant is going to save us...

 

[tgh]

Gee .. lots of fiscal pessimists here… are we really doomed .. is another great depression about to unfold..... surely not t?

 

[get me outta here]

I had a lovely rich feeling for a few weeks having cancelled trips. Then, 10 days ago a huge tree fell over and the one immediately behind has a big crack and is a difficult expensive job to take down. The, huge Casuarina in a narrow area between the houses also has to come out. Two days work by the tree surgeons was almost a month's trip value. Back to feeling not rich again.

 

[Pushka]

I had a lovely rich feeling for a few weeks having cancelled trips. Then, 10 days ago a huge tree fell over and the one immediately behind has a big crack and is a difficult expensive job to take down. The, the huge Casuarina in a narrow area between the houses also has to come out. Two days work by the tree surgeons was almost a month's trip value. Back to feeling not rich again.

Well, you'd be poorer if you'd also paid for your trips!

 

[Cruiser Elite]

Absolutely no impact on mine - the sooner I can get a SQ R or F flt to anywhere I am off - China for business hopefully - Germany for business - I do not really care. If rdpts are not available it will be stump up time with $s - something i have never had to do before but will certainly try if cannot spend pts.

 

[get me outta here]

They were all reward flights and refundable hotels, so no losses at all fortunately.

Well, you'd be poorer if you'd also paid for your trips!

 

[lovetravellingoz]

What are you going to do about it ?

The only thing I can which is to make best of it

The world is a big place, but so is Australia!

In preparation for retirement for the last two years I have dropped how much I work down to about 7/8 months. Though running my own business it is not a complete cut of as you still had to do some things regularly to keep things ticking over, or lodge a BAS etc.

Up to two years ago I mainly focused on international leisure travel. But with more travel time the last two years has also invloved a healthy dose of Australia travel including re-discovering my love of 4WD-ing and offgrid camping.


So for the next two years I will ramp up my Australian travel which will be a mix of :

• 4WD-ing,
• camping,
• doing some overnight long hikes - Cradle Mountain to Lake St Clair will be fun do again etc
• Bicycle tours- We normally do one or more in Europe each year and so a good time to do a few here in Australia
• Yacht charters - And maybe buy a yacht and liveaboard for 6 months to a year or so as this as been a "bucket list" one day dream of mine for a long time
• The occassional stay at resort of nice rental property.
• If New Zealand opens up - then many possibilities

I was going to possibly retire next year. My business is one which now has no income, and probably would not have any significant income for about 6 months after the economy being restarted. So will reconsider. Might still pull the pin, but after 2020 now beinga lazy year may also now decide to work an extra year or so, though that would be working only 6 months out of 12.


PS. Hopefully Intrastate and interstate travel will start freeing up from no late than June, maybe even mid-May.. Our airlines certiainly need it.

 

[MEL_Traveller]

I have not dared look at mine.

Super fund valuations should recover most of the losses over time.. it's a long frame game

My super has only dropped 3.5% (calculated 24 April, 100% growth option, industry fund) - not nearly as bad as I was expecting!

 

[MEL_Traveller]

Absolutely no impact on mine - the sooner I can get a SQ R or F flt to anywhere I am off - China for business hopefully - Germany for business - I do not really care. If rdpts are not available it will be stump up time with $s - something i have never had to do before but will certainly try if cannot spend pts.

Some cracking deals ATM for departures through to end Feb 2021- SQ F SYD/MEL-FRA $12000 return. JAL F $10000 SYD-CDG. QR F $9800 SYD-CDG in F

 

[tgh]

cracking deals

Hm.. they have your money for a year plus, you have no idea if the world will be open and you have no idea what T&C's will apply to International travel.
I suggest that the deals could never be good enough facing those odds….others mmv

 

[Cruiser Elite]

Nope won’t be spending a penny forward - book today fly tomorrow as soon as the starting gates fly open