Fibbernacci
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The Cost Per Day Of Travel And Holidays
- Thread starter Cervelo
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Ah, the sunk cost fallacy!
Generally speaking, the time to compare the cost of holidaying in A or B is before you book the holiday; the comparison isn't much use after you've already commited to one or other of them.
But if you do make the comparison because, out of interest, you want to know how the value you're getting compares with alternatives that you might have chosen, it make no sense to disregard some of the costs just because you've already paid them. They're still costs; they're still relevant to any comparison between the two alternatives.
Which is true as well, but they're looking at the net cost which is perfectly valid in terms of budget / spend tracking. If they choose not to go on the trips they're not up €3k but the €2.4k net cost.
Annieindublin
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We spend time in a house we own abroad. The cost per day is the travel costs. Increased time there makes it better value by this equation so if we spent 300 day Pa there we’d be getting great value. All other costs are sunk.
Reminds me of an economics lecturer who maintained that the cost per mile of driving reduced the more you drove… aside from repairs and maintenance of course. So having someone drive your car will day made your commute home cheaper per mile
Reminds me of an economics lecturer who maintained that the cost per mile of driving reduced the more you drove… aside from repairs and maintenance of course. So having someone drive your car will day made your commute home cheaper per mile
Oh this is so funny, I was thinking last night the same thing but the opposite way,
That if they didn't go on the trip they'd be saving themselves the €3k and not €2.4k
When I'm doing costs for holidays, I don't factor in the savings in my day to day spending because if you're doing that should you not as well be factoring in the extra costs of maintaining your home while your away like all your utility bills that still have to be paid
So for me the cost of a holiday is what it actually cost me to get there and what I spent while there, nothing else is factored in or out
Annieindublin
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When we spend long periods abroad I do kinda consider that we are saving as groceries are a lot cheaper. Also where we are there is no access to ready meals and take always so we spend less on that. But we drive more and eat out perhaps more than in Dublin so I reckon it balances out. I’ve never checked the maths.
When I calculate our holiday costs, I never include food shopping as I consider that I would also shop and eat in Ireland. Sometimes food is cheaper but despite that as we might use more convenient products, cook less and shop more often, I find that it's somewhat similar. Even here, my shopping can be quite different from one week to the other.
I would include restaurants though as it's not one of our usual expenses in Ireland. I don't consider any potential savings though I did see a difference in our electricity bill.
I would calculate petrol as we would drive far more when abroad .
Annieindublin
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It’s hard to compare food. I bought oysters yesterday. I wouldn’t buy them in Dublin. But I might pick up a marks ready meal now and then.
Eating out can vary a lot, a pizza locally is cheap, seafood is not.
I reckon it balances out.
Eating out can vary a lot, a pizza locally is cheap, seafood is not.
I reckon it balances out.
Yes, but as it's AskAboutMoney, it does make sense to think of it in more balanced terms of the impact on the bottom line, particularly for those who work off a budget. In this case, the impact on net wealth is 2.4k, not 3.
That is the standalone cost of the holiday. For me the relative cost of the holiday is more relevant and that necessitates subtracting what I would have spent if I hadn't taken a holiday.
But then do you also add in all the stuff that you still have to pay for at home while your on holiday
To me if you don't do that then your not getting the true net net cost of the holiday
elcato has said their saving €600 over the 12 weeks but I presume their not factoring in the utilities at home like BB, TV and energy that they are still paying for, which I'm guessing would eat into a fair chunk of the €600 saving
Anyway I'm happy enough to use the "standalone cost" when deciding if a holiday is worth it or not
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No. You have to pay that whether you're on holiday or not (though Gas or Electric may be less). I just factor in what I would have spent on food, transport & social.
Nor should they. Anything you have to pay whether or not you take the holiday — rent, mortgage interest, insurance — is not relevant to identifying the true cost of the holiday. The true cost of the holiday is:
- expenses that you incur, that you wouldn't incur if you didn't take the holiday (travel, accommodation, eating out, museum entry fees, those tatty souvenirs that you can't resist buying, etc) less
- expenses that you avoid, that you would incur if you didn't take the holiday (heating your home, commuting to work, etc)
Sorry to clarify
1) The 3k is for travel for one (but as it happens there's a +1 at a cost of just €200 for flights)
2) My €50 saving per week was purely on day to day spending (Gargle, Grocery and Eating out) so BB, TV and lecky not taken into account
If you were talking about more people it would be a less per person obviously.
1) The 3k is for travel for one (but as it happens there's a +1 at a cost of just €200 for flights)
2) My €50 saving per week was purely on day to day spending (Gargle, Grocery and Eating out) so BB, TV and lecky not taken into account
If you were talking about more people it would be a less per person obviously.
I think if you had read post #1 you would have seen that the OP has already done this. The trip for Japan is estimated to cost EUR 14,195; and the Irish road trip EUR 4,500-5,250. Most of the other posts in this thread concern examples of day-to-day expenditure and tips on how to control it.
For what it’s worth, I keep detailed household accounts and in all cases in my recent travels, Ireland is more expensive for day-to-day expenditure.
I’m thinking about the Round Ireland Road Trip. You live within The Pale so the coastline of Dublin, Wicklow and Wexford must already be familiar to you. Similarly the coast journey in the other direction north to Dundalk must seem like well covered territory for you too. Therefore it’s the coastline of south Wexford and county Waterford westerly to County Down is probably where you can concentrate your fortnight.
If you start and use the south Wexford coast onto the county Waterford coast and onwards to county Cork you would spend less money than in say Wicklow or Wexford. You save at the other end too making Dundalk your final destination.
My advice is allow more time for West Cork, Kerry, Galway, Mayo, Sligo and more in Donegal from Glencolmcille to Derry. The coastal journey from Derry to Belfast is spectacular too, but accommodation there might be a problem.
If you start and use the south Wexford coast onto the county Waterford coast and onwards to county Cork you would spend less money than in say Wicklow or Wexford. You save at the other end too making Dundalk your final destination.
My advice is allow more time for West Cork, Kerry, Galway, Mayo, Sligo and more in Donegal from Glencolmcille to Derry. The coastal journey from Derry to Belfast is spectacular too, but accommodation there might be a problem.
@Leo, @michaelm and @TomEdison I think I'll have to agree to disagree here, it's not how I look at "costs"
For me be it a holiday, TV or a meal out the cost be it "true" "relative" or "actual" is what is on the receipt or what I had to physically pay
The road trip is hopefully happening this September and yes hoping between €4.5k and €5.2k
I'll up date the thread with the actual cost when it's done
I've just ordered the OPW heritage cards, so over the next year we'll do a few day trips along the east coast or even head inland
For me be it a holiday, TV or a meal out the cost be it "true" "relative" or "actual" is what is on the receipt or what I had to physically pay
Just to make a small correction PMU, the Japan trip has happened at a cost of €14188,
The road trip is hopefully happening this September and yes hoping between €4.5k and €5.2k
I'll up date the thread with the actual cost when it's done
Yes that's how I see it as well Lep, the sightseeing will start in Wexford and end before I hit Dundalk
I've just ordered the OPW heritage cards, so over the next year we'll do a few day trips along the east coast or even head inland
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A tendency can be to dive straight into the distant trip. Co Wexford makes up half of the estuary of River Suir. The Co Wexford villages are beautiful and not to miss. By Hook or by Crook comes alive too for you. You can get a ferry to Passage East if you are stuck for time. Don’t miss Dunmore East, Passage East etc on the Co Waterford side. Waterford City will take up some of your time. But, Gold Coast between Waterford and Dungarvan is pretty historical too with mining connections to Newfoundland. Some beautiful coves along the way if you’d like an Atlantic swim. Tramore might bring back memories as once it was Ireland’s principal tourist destination. Give the slot machines there a miss. But drive to the Metal Man *who is giving constant warning to seafarers to Keep Away from me, Because I’m the Rock of Misery. Dungarvan once a dump of a town now sparkles as an established eating destination and of course entry to the Waterford Greenway for cyclists and walkers.
An Rinn (Ring) Gaeltacht was a disappointment for me, so I recommend you drive past to Ardmore, a kind of spiritual home for me. There is a circular walk well worthwhile going around the coast there culminating in a graveyard where you see parts of the ruins of an ancient church , the round tower, some graves of storm victim sailors.
* Look up the Wreck of the Seahorse. Very interesting by the way.
There’s my Day 1 - 14.25 hours, includes 35 mins picnic break.
An Rinn (Ring) Gaeltacht was a disappointment for me, so I recommend you drive past to Ardmore, a kind of spiritual home for me. There is a circular walk well worthwhile going around the coast there culminating in a graveyard where you see parts of the ruins of an ancient church , the round tower, some graves of storm victim sailors.
* Look up the Wreck of the Seahorse. Very interesting by the way.
There’s my Day 1 - 14.25 hours, includes 35 mins picnic break.