Should You Splurge on Vacations or a Nicer Home?

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Vacations or a nicer home - which would you splurge on first? What if you could only pick one? Here are the pros and cons of each option to help you decide.

When it comes to spending your hard earned cash, there are a lot of options. You can splurge on fancy diamond rings, private school for your kids, vacations, a boat, extra investments, or a swanky house.

But, let’s narrow down the choices a little bit. I want to hear from you. If you had money to spend and only two options – vacations or a nicer home – which would you pick?

Let’s look at the pros and cons:


The best part about vacations is you get to experience a new place! Your hometown likely gets stressful from time to time because you’re working and busy. Your home office could probably use a little organizing, and seriously when was the last time you even had a chance to enjoy a beer let alone the views of a pretty beach?

Vacations allow you to “get away” from it all. They provide ample time to recharge. They also can help stir your creative juices. I know they help me to stretch my mind a little bit, learn about a new culture, try some unusual food, and take in some new sites.

The negative of vacations is they can be pretty expensive. Not only that, I always find the relaxation is short lived. It’s great while you’re on vacation and you don’t have to think about making dinner every night, but it seems like the second you get home, all of the stresses and to-do lists come back. Also, once you spend your vacation money, it’s gone.

A Nicer Home

If you decided to spend money on a nicer home instead of vacations, you’d definitely reap enjoyment from it every single day. Maybe it’s the fact that that the roof doesn’t leak or that you got high end appliances that make cooking so much more pleasant. Either way, there are a lot of perks to having a nicer home.

Unlike vacations, you can enjoy your home every single day. It can become your haven, a place that you enjoy taking care of and using as a place to welcome friends and family.

Vacations or a nicer home - which would you splurge on first? What if you could only pick one? Here are the pros and cons of each option to help you decide.The negative, of course, is that if you spend all of your money on your home, you can’t escape it. Instead of taking a break and getting away from it all when things get stressful, you have to sit there in your same environment. Additionally, if your home needs a major repair or has to endure a natural disaster, you could lose a significant part of your investment. Sure, you can lose money on vacation too, but losing it on your home would be much more stressful.

Personally, if I had to pick between the two, I’d pick vacations. I really love to travel and see new places. It’s one of my biggest passions. I know that I don’t need a lot in terms of a home. After all, I spent almost three years sharing a 270 sq ft apartment with my husband and my dog. While I’m glad I don’t have to live in a place that small again, it didn’t kill me, and I’d gladly live below my means in terms of my home if it meant I got to see the world.


What about you? What would you choose to spend your money on if you couldn’t have both – vacations or a nicer home?

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Catherine Alford is the go to personal finance expert for parents who want to better their finances and take on a more active financial role in their families.


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