“You took your family on a month-long trip to Turkey? That sounds like an expensive proposition. I can’t even take my kids to Disney World.”
I have heard that a few times over the past week. Yes, I did take the family to Turkey for a month but, a little secret, my kids have never been to Disney World.
So, is it an expensive proposition to take the family on an epic trip? Yes, pretty expensive when you break it down (see the details below)…
You can spend as much money as you want on virtually anything. It just depends how you approach it. Let me give some concrete figures since it will help to flesh the actual costs out:
Adventures in Asia Minor (modern day Turkey)
– Flights (6 people in economy – OKC to IST) – $5,072.10 (this one was more than we typically spend but it was to another hemisphere)
– Rental Car (32 days) – 14,695 TL or $802 (Turkish Lira)
– Lodging – $5,270.96 (8 AirBnbs, 12 nights at an all-inclusive resort + 1 night of a hotel at the end)
– Museum Passes (6) – 4,000 TL or $246.59
– Fuel, Meals & Other – $3,601
**Grand Total of $15,000 (or 37 days @ ~$400 per day)**
Whoa – way too much! Maybe?? I have seen people spend $10-20k on a Disney World vacation or a luxurious trip to a beach in Mexico.
Here is the way I think about this…
We take one big trip a year with the kids which helps them learn about the world around them. I have 4 kids and we started this when the oldest was 7 and the youngest was 2.
So, if I continue this until the youngest is 18, I have 15 summers remaining and we have done 3 summers so far.
Turkey was a bit extravagant (especially since the plane tickets were $800+ per person and we moved around a ton (32 ancient Greek and Roman cities). Most of our trips will be $8 – 15k per year. Let’s say $12k on average.
So, I will spend $180k over the remaining 15 years of childhood I have with my kids to give them the world. What else could I spend this $180k on?
Lots of options:
– 3 new cars over the next 15 years
– Upgrading to a new house
– Buying a few more rental properties
– Or anything else that I desire
Why spend it on the trip each year? Time is the most precious commodity and if my children wait until they are adults to experience the world, their time will be short to live knowing what the world around them is like.
What traditions have you established for your family? Any educational or travel related traditions?
I post weekly about banking, data science and family adventures.
Building a great family is core to who I am. It isn’t all sunshine and lollipops! If there is something you are curious about on these types of family adventures, shoot me a note and we can discuss it together.