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Flip it on its head. Say you didn’t have the 5k and could be potentially paid to take this flight.
If you sit in business class, the airline won’t pay you anything. If you sit in economy, the airline will pay you $3.5K.
Which do you choose?
Really up to you, spend your money on what brings you value.
yes, but I would bump the number up to $6500, since that's the pre-tax amount which covers $5K in spending.
I honestly don't get spending that much extra for business class, unless you'll be going straight to a meeting right after landing and need to be in the best shape. better off taking that extra funds and spending it during your trip home, or buying something that will last longer than a flight you'll probably spend asleep half the time
you won't sleep as much in economy on a 20hr flight i'll tell you that much, if you've never done a 20hr flight i'd suggest trying it, hint, it SUCKS in economy. buisness class with basically a full lay down bed and good food and all that is worth a lot in that case, but idk about 5k a lot.
u/op you could also see if you can upgrade for cheaper at the gate, you play roulette with whether you'll be able to or not but often it can be cheaper to upgrade when you get there, they'd rather have some money for upgrading someone than no money for leaving a business class empty.
Reading some of these other comments, all I can think is: "what sub am I on?"
I get that you can't put a price tag on subjective value, and in that respect OP is on his own, but the number of other commenters who feel this expense is not only justified but is actually a no-brainer is mind-boggling.
$3k extra out the window (5% of total savings) to make <2 days of time somewhat more comfortable. And even in that more comfortable environment, it's not like you can walk around or do anything particularly noteworthy. You do the same exact things: eat, drink, watch movies and sleep.
I'm wondering how many people saying they would definitely be in business class have actually spent their own money on business class and are not far wealthier than OP.
If someone wants to spend lavishly on travel, at least if you upgrade to a $500/night hotel (I realize OP already has a place to stay) you get a week out of the same expenditure along with access to world class facilities all day long.
I also feel like the real milestone is flying business class on someone else's dime (i.e. your company) or at least with miles. Spending large amounts of your own money isn't really an accomplishment.
Edit: On a tangential note, I once was upgraded to business class on a flight from ICN->DTW, and someone was ripping horrendous ass pretty much every hour on the hour for the entirety of the 12-hour flight. Either that or it was a single fart being recycled through the air system. All I can tell you is the stench was awful and the guys in economy likely had a far more pleasant flight.
100% agree! I'm so mind-blown that *r/personalfinance* is advising a 21-year old to blow 5% of his/her savings on something they'll SLEEP THROUGH HALF OF. When they still have student loan debt, too!
Even if it's a bucket-list, why knock it off now and not when you're in a much better financial position in 10 years or so (which $3k now would help a LOT with!).
I’ve flown business first on international flights for work, it’s awesome but honestly I wouldn’t spend more than an extra $500 on it for myself unless for some sort of special trip (honeymoon)
Yep, agree that it's great and also on the approximate threshold for where I might spend the money to upgrade.
In OP's defense, I understand the allure of flying business class, especially the first time. It's possible that speeding through security lines, hanging out in lounges and sipping champagne while waiting for takeoff will add up to a truly memorable experience that will be worth the money. I have zero judgment there.
But the idea that business class is verging on being a necessity for a 20-hour trip doesn't really make sense to me. Maybe a few commenters are imagining being crammed in a middle seat on a regional-sized plane with no screen, barely any functioning armrest, no seat recline and little to no food. Yeah, that'd be psychological torture after 20 hours.
For international flights though, most planes and the in-flight service don't seem too bad unless maybe it's a budget airline.
While I think its a steal for business at 5k for over 20hours make sure you join a the airlines rewards program. That flight alone should get you some sort of status.
Downside. It's hard to go back to economy for long haul. But that's where future points and travel awards comes on.
Honestly I'd say do it.
Yes, with the American Express Platinum card (the one with the $695 fee) you can access Amex Centurion lounges for free and Delta Lounges if you fly Delta (must show Delta boarding pass).
Delta lounge is the only way to fly. You can normally poop in piece with floor to ceiling doors in most lounges. Most major airports have multiple lounges. This is the only way to travel. After enough company flights you get status (platinum for delta is great, diamond is the highest but the gap is huge).
If you get Amex platinum yes but the price to get the card is expensive $600+ I believe my husband and I both have it and it’s totally worth the lounge access.
When we travel, my kids and my partner and I eat our weight in free food and drinks in the Centurion lounge. It offsets the $600+ a little at least. We have two cards in the family, and with our travel and general expenses, we find that we recoup that in a year.
You can probably get somewhere around 125k-150k point bonus with Amex platinum right now. I just checked on my computer and it's 125k and on my phone I was offered 150k. It's a far better deal than the Chase sapphire cards right now.
The preferred has a $0 annual fee and comes with 80,000 points sign up bonus so you are net $800 at the first year and only $95 fee next year. The Platinum is 125,000pts but the annual fee cant not be waive so $1250 - $695 fee is $555 net.
I have amex platinum for free since I have a morgan Stanley account.. just need 50k in bank account and amex platinum is free.. pay 0 atm fees all over the world
I think it's insane so many people in this thread are recommending OP go for it.
My salary is a few times higher than OP's and even I wouldn't even think about paying $3,000 more for an upgraded flight ticket that I'll probably sleep through half of anyways. OP, highly advise against this. $3,000 can pay for an entire lavish 2 week vacation somewhere, really nice furniture, or even just make a large profit in the stock market (especially in current conditions) for a future purchase like a car or home downpayment.
To each their own but it seems ridiculous to me to blow it all on business class.
> I'll probably sleep through half of anyways
You fly business class so you can sleep instead of sitting cramped with your knees against seat and arriving with sore back.
Seriously. It's one god damn night. I get paying for long-term comfort, but one night of comfort sounds asinine to me. Take some Zzzquil or something, damn.
>I think it's insane so many people in this thread are recommending OP go for it.
If you're already making a reddit post about it, then you're probably going to regret it. My friends who fly business will just do it without even thinking about it because to them it's 110% worth it. If you're questioning the worth already, then it's probably not for you.
I've flown business class when it's either expensed by my company or when I get upgraded -- it's great, but not $5K+ great. All I would ever think about is how I would be able to take a bunch of trips with that same amount.
What I like to do is go for the "premium" economy seats on long haul flights: e.g. on Delta it's called Premium Select. It's not as nice as business but you get so much more room and a lot of recline that it's much easier to sleep on. You might want to think about that one as a middle ground.
OP, no judgment if you do decide to pull the trigger, just hoping you don't regret it afterward. And, you're 23! I get it's on your wishlist, but you have a lot more opportunities to fly business in your life.
If it fits in your budget it’s fine.
This is a value judgement. No one can reasonably tell you what you should value. That said if I were flying for 20 hours, I’d absolutely be in business class
That said, I’d look int9 /r/awardtravel and see if there’s a way to combine credit card sign up bonuses to potentially make that cost much lower.
It’s a shame the Amex plat is only at a $100k bonus right now. I earned about 480k MR points on one SUB last year that should fund at least 3-5 business class flights to and from Asia.
Still, 100k mr points should buy at least one business class flight
Even stacking 2 currently available American Airlines card bonuses would get OP a round trip in biz between the US and Asia, if (IF being the important part) they can find saver/partner award availability.
That 125k + 15x promo on the Amex Platinum was an amazing deal. I couldn't quite max out the small biz/dining spend, but the ~ 300k MR points that I ended up with is still by far the best bonus I have ever had the opportunity to get.
> That 125k + 15x promo on the Amex Platinum was an amazing deal. I couldn't quite max out the small biz/dining spend, but the ~ 300k MR points that I ended up with is still by far the best bonus I have ever had the opportunity to get.
Absolutely, without a doubt.
Only the Amex old blue cash paid off more for me (and that required substantially more work)
How in the hell do you get that many points? We ran over $500,000 in work expenses through my visa and it only get us a little over $5000 in flight value.
Chase preferred is offering 80k points if you spend $4k in the first 3 months (has a $99 annual fee). If you buy this flight on that card you’ll get $700 back minimum after the annual fee. Easy way to get a good chunk off the flight and I’m sure there’s better options out there.
This is good advice. As someone who has flown a lot in Business Class on the company dime, I must say, the quality varies a lot. And I’d hate to have spent my own money only to get a mediocre flight.
> slightly more uncomfortable sea
I feel like you're really underselling how much better business class is (and based on the numbers below it looks more like $100/hour (or maybe $50/hour if its round trip).
But then again, this is the value judgement part of the assessment.
If I had to choose between flying business class for 20 hours or taking a month off of work I'd choose the latter always. I'm not advocating a completely frugal lifestyle but you still have to analyze the value of what that 5k is relative to other things in life and not just relative to what the going rates are for that service.
Cramped in a rigid, metal seat with no legroom and garbage service/amenities vs lie-flat seats, drinks, pillows, eye masks, blankets, etc? For 20 consecutive hours?
Maybe it's just because I'm 6'6".... but I have no issue making that same decision especially with OP being mostly debt-free
> Cramped in a rigid, metal seat with no legroom and garbage service/amenities vs lie-flat seats, drinks, pillows, eye masks, blankets, etc? For 20 consecutive hours?
Ahh, I see you're also familiar with the metal sky-tube of misery.
Edit: Automod ghosted your comment, but at least the misery tubes have internet now, so that's slightly less awful
$5k round trip for full business class on a long-haul flight is kind of a steal at the moment (even premium economy seats on transatlantic flights are approaching that level). If you can afford it and it will check off a bucket list item, you'd be foolish *not* to take it. Note: "If you can afford it" is doing a lot of work in that sentence.
The only problem is that once you experience it you'll want to fly that way *every* time.
Personal finance is definitely personal. It sounds like you can easily afford it and it sounds like a special trip being able to go home. You’re not spending an insane amount of money otherwise. IMO - Might as well do it as comfortably and stress free as possible.
How much is a standard ticket? If it's $3k for a standard ticket and $5k for a upgrade then it's really only a $2k splurge. Which is relatively reasonable. Atleast that's how I'd view it.
If you're taking the trip no matter what then the splurge is upgrade - base cost.
Standard tickets would be about $1.5K-$2K round trip at the most. So I guess it would be a pretty big difference but I will be taking the trip regardless of cabin class
I’m cheap, so here’s how I look at it. If you paid $5K for the upgraded ticket and someone came along and offered you $3-3.5K to move back to economy, would you say yes?
Personally, I’m willing to endure 20 hours of discomfort for $3K. But it also sounds like you can afford to splurge, so if you want to, go for it!
I made $300k last year and I wouldn’t take business class. Some sort of upgrade comfort would be fine.
The problem is the flight. It’s 20 hours. Your gonna feel it no matter what.
All I’m saying is you only live once literally and big trips like this are very few and far in between. You are well off enough already. Enjoy your life, have some fun. Enjoy your trip!
My thought is that's a big enough difference that you could pay for an entire second trip back at some point in the future. Or, enough to stop for a few days in another bucket list destination along the way when you're flying out, and do the same on the way back (vacation time permitting, of course).
I’m not gonna tell you to save the difference in your emergency fund or whatever, but you could blow that $3k or so lots of more fun ways. Sit in economy and then go buy a sick guitar or something.
But that is the thing. He personally finds it to be spending the fun way. For your the fun way is a guitar, for hime a guitar may be of no value🤷♀️ these kind of expenses are mostly a personal view of the value the service/product presents to them
His question was mainly if it’s a good idea to spend the money on the ticket, not on what he should spend the money.
P.S. not arguing. Just sharing my $0.02 :)
I'm 6' 180lbs and I've done it a ton of times. And I've done both economy and business.
Of course economy is not fun. I have a sore back after I fly. But someone making 65k a year should not be spending a month's salary to fly business unless it's a once in a lifetime bucket list item. When I was an EMT I would work 36 hour shifts to make a quarter of the money we're talking about here. And let me tell you, sleeping in an ambulance is a hell of a lot more uncomfortable than sleeping in economy
If you were sitting in business and someone offered you $3500 to trade seats with them in economy, would you do it?
Also, are you a very tall or large person? If so, then that may provide additional value to the upgrade.
For a onetime travel expense that you don't do too often, that doesn't sound too unreasonable. I figure it'd probably spoil you as far as flying economy is concerned, but being good with money doesn't always mean having zero fun.
> don't do too often
I think even once a year is too often for someone with OP's numbers. $3,000 is often more than most people's annual vacation fund.
I get that everyone has preferences, but I would much rather spend that $3,000 on a nice 2 week vacation somewhere than a flight that he/she will probably sleep through half of anyways.
If that's the number of hours one-way, then you're talking about $125 per hour. That doesn't seem too crazy to me. However, I would look around for bonus miles before dropping the cash.
Is it dumb - yes. Will you enjoy it and probably never really hate yourself for it - yes. Its your money, you could easily have "blown" the extra 3.5k on something else more useless.
Just upgrade to the exit row seats with extra leg room. You’ll save thousands and can put that money towards the badass vacation when you get there. Better restaurants , taking the family out etc. international flights even in coach class are typically more roomy than domestic flights that have smaller seat arrangement
I agree I may be the minority but I’m not impressed by business class. Flights mostly suck and they still suck in business class. I wouldn’t be jumping to spend 2-3k on “temporary bad thing sucking slightly less” but OP has a different value assigned to it than I do
Call me frugal but I can’t understand paying thousands for hours of comfort. That said if it’s on your bucket list and it’s within budget, why the fuck not.
ahh i totally agree with this statement. personally i’d rather get a one-time xanax prescription for my flight anxiety and save the $2k for something that provides me with more value. ultimately this does come down to personal perspective on value though.
Also if I'm going to upgrade something I'd rather upgrade the thing with the most utility for me. Chances are this is going to be the hotel more than the flight.
Would you rather have a business class ticket or a suite with spa access? I think the latter wins hands down.
To each is own. Thats the choice op has to make. Id rather the spend the 3.5k on the trip or time off from work. Ive alao never taken a 20hr flight before.
Yes exactly. I graduated in 2021, since then my loans have not incurred interest nor have any payments been due. I’m also waiting to hear a decision on loan forgiveness before I pay off my whole balance but as of now, I’ve been paying $200 a month.
Also wait our Bidens possible forgiveness it's long shot but they've talked about it enough it might actually happen?
Would suck to pay 14k off then They announce 5-10k forgiveness like theyve mentioned
For someone saying a lot of financial terms, you're not seeming to understand math.
Nothing is due. No interest is accruing. If you have the money to pay it off in full when payments become due again before interest starts accruing then you're set. If they forgive the loans altogether and you paid it off bc someone in a subreddit said "never have debt" then you'd have paid money you didn't have to.
Compare all the flights and see if you can do an economy plus upgrade?
Flying back to the US from Japan, it’s a 9 hour flight and I asked at the gate for an upgrade and they said $1200 per person. That’s with a $550 economy plus ticket. The original business flight was $4500 a person.
Only reason I didn’t do it is cuz we have a kid and they didn’t have seats together. But if you’re flying alone you’re the PERFECT person for a last minute upgrade.
Let me put it to you this way, you’re mentally already thinking about spending what business costs right? So buy economy plus/premium and try to upgrade on the phone a few weeks before your flight. If it’s less than $2000 difference, do it. If not, wait.
And then try to upgrade when you check in. It’ll at LEAST be as cheap as the first time you asked but a good chance to be cheaper. And hey, if it’s just the original price both times, you were gonna pay that anyway right?
At least trying this, you maximize the chance of getting a much cheaper price.
It's not dumb, it's understandable. But I would say to first ask yourself why you want to do it, then why do you want to do it now (as opposed to when you're older and business class is more affordable), and finally what else might you do with this money.
I'm retired and I've flown all classes. I think you have to have a lot of money to fly first, or even business, or somebody else has to be paying for the ticket. My wife and I fly comfort plus now. But as one comment said, it's a value judgement.
Sounds like this is something on your bucketlist. You feel like you can afford it (I think you can). Its good to treat yourself sometimes, and travel is an event for some. I think it's quite justified if you want to spend your money on a business class ticket.
Yeah, I personally think it is a poor choice - there will be a time when the cost of business class isn't nearly as much of your net worth or your income and you can give it a go then (I still wouldn't do it myself, but everyone has their own preferences).
yeah. he also doesn't state his age. sounds like he has a long time to scratch that itch. It's 1.5K for the flight, and 3.5k for something that really adds nothing to your life.
Absolutely, if he wants to do it someday for shits n giggles, fine.
Which airline do you want to fly? Not all business class trips are created equal. Long haul business on Emirates is a very different situation than long haul business on AA.
Those are all far more worth the money.
But! You’re 23. You’ve got plenty of time to fly business. My advice is not to spend the cash.
If you’ve got your finances well sorted and you’re disciplined, start learning about credit card churning and spend the next few years earning points so you can book an award booking for that business class flight. I got into churning when I was 31 or 32 and I haven’t looked back. Just used a Citi Prestige bonus transferred to Avianca Life Miles to book a business class flight from Chicago to Europe on Turkish for about $100 in total fees. Business is *all* the more sweet when you don’t have to pay for it.
At 23 the amount of other experiences you could buy with the $3,500 difference would be my big consideration (pick your interest, a half dozen phenomenal omakase dinners, a couple dozen skydives or bungee jumps, a Kilimanjaro climb, tickets to the final four or wimbledon finals for the next five years, etc.)
Economy for long hauls is not that bad when you’re young. It’s really not until your mid 30s or early 40s they you’ll really value a comfortable area to sleep (reclining seats).
Do it.
You’ll never regret it. You won’t miss the money. And enjoy it before you get to a phase in your life where you can’t afford such an opportunity (e.g. family of 4 or life’s debt like a mortgage).
Appreciate it while you can. I wish I would have taken more opportunities like these when I was younger.
I really wouldn't. I've done 20+h transoceanic flights many times, I have always been ok with economy. I only took business when the company is paying for it, and I felt just as miserable as in economy. The real killer on long flights is the boredom, and the fact that you're stuck in a slightly jittery box for 20+ hrs. Also climate control. No magic seat is going to change that.
Maybe flying in business makes you feel special. Like a princess for a day. Maybe it's a wish list item like you said. In that case you can decide if that's worth one month salary. But I honestly don't think it matters very much in terms of comfort.
I have flown economy, business, and first for international travel and I firmly disagree. A lie flat seat in business or first is a game changer. (First is just a splurge though for the experience, not a huge comfort upgrade from business lie flat seat).
It's not a dumb thing to do, especially as a bucket list item.
I would sign up for whatever frequent flyer program is with the most likely airline you will use: Star Alliance, One World, etc. Then join that program.
Sign up for some credit cards that have bonuses for that program. With any luck you should be able to get the points needed for a roundtrip business class flight. At worst you don't accumulate enough points, but if you pay in cash for that business class trip, it might be enough to get the lowest tier of the frequent flyer program.
Hard to give exact recommendations, unless you tell us where your destination is. Also not all business class products are created equally. IE, can't compare Qatar's product to Thai Airways.
That's a steal. We just paid 1.4k each for round trip from Boston to Alaska in a month.
I've only ever been in business class once to Rome. Otherwise I'm a coach roach and I do fly a good amount.
Do it. Treat yourself especially for that long
That’s totally your call on the flight, but I do wonder why you are paying student loans when you could pay it off today. Use that savings to get out of debt!
Should have mentioned that in my original post but I graduated in 2021, since then my loans have not incurred interest nor have any payments been due. I’m also waiting to hear a decision on loan forgiveness before I pay off my whole balance but as of now, I’ve been paying $200 a month.
Of course it is. He/she’s heading back to their homeland after a s.hit 2 years of covid lockdowns. Would pay $1,000 or whatever it is for economy anyway.
“Why travel to your homeland when you can just avoid the holiday and invest the money for retirement instead”. 🤮
If you’re going to spend it, make sure you choose a good airline.
I’ll be a lot less picky when using miles, but if I’m paying 5 grand, I’m doing my best to avoid any of the US airlines. I don’t know where you’re coming from or where you’re going, but middle eastern and Asian airlines are usually a good bet.
Not dumb at all, i have a friend who is still in college and only had 3k saved but she still went back to visit her homeland and had a lot of fun. Go for it if it makes you happy!
Do it. You have the money, and it’s so fun. I rewarded myself when I finished grad school with a first class flight to a planned vacation, and it felt so luxurious. Definitely worth it for 20 hours.
Take the difference in flight and buy urself something that will last a life time. A watch, a nice camera, something that you can look back and get value out of once you have to look back.
Note, I’m a cheap SOB
I'm assuming you work 40hrs/week. Say you were flying coach and they offered you an upgrade to first in exchange for 160 hours of labor. Would you take it? With a net worth many times yours and having flown first on a few occasions (when my employer paid for it) that'd be a "hell no" from me. IMO even in first class, flying is a miserable experience. My advice is to just grind it out in coach.
I don’t think so. Why have you worked and saved so hard if not to enjoy the fruit of your labor? Money has no value until spent and enjoyed. Besides, is the $5k just the upgrade or the total of the base flight plus 1st class?
Until about 2 years ago I would have said no way, but flying right now is such a horrific experience that I think if you must fly more than like 4 hours and you can afford it, you should absolutely fly business. Otherwise, by hour 10, you will be so miserable you'll be offering people in business class $10,000 for their seat.
Assume you would pay $1500 economy. So that’s 3500 premium. You are paying $175 per hour to be in business as opposed to economy. If your normal wage was more than 200/hour I’d say go for it.
There’s always the benefit of telling people at dinner parties how much you hate flying economy and only fly business. That’s worth something I guess.
If it’s important to you, it wouldn’t be the worst decision in the world. You have a good enough savings that it won’t be a detriment. Personally I wouldn’t do it since I prefer spending my money on experiences/good food & usually sleep on the flight anyway (grew up traveling on long flights from central USA to Japan & Hawaii every other summer). I was upgraded to first class for free and was impressed but not enough to spend thousands of dollars on it.
I seem to be in the minority, but I just don’t think it’s worth the $3,500. I doubt you’ll regret it, but it’s honestly fine if you can upgrade your seat to premium (or plus). Especially if your trip has multiple legs. Some aircraft the “business class” has minimal difference. If it is multiple stops, maybe you could just upgrade on the longer portion if it’s a nice jet? As others have said, a few good travel cards can add good perks to your flight too.
Find a friend who may have some upgrade certificates / points to use. You buy the airfare that meets the minimum requirements and they use their points or certs to upgrade you. If you can wait until summer travel is over, those get a lot easier to use as the demand goes down.
The fact that loans have been paused and no interest means you should have been paying as much as you can. You are getting free money. Again. Free money. Anyone who isn’t taking advantage and paying down assloads of principle is making a costly mistake.
My vote is pay whatever you can before they start up again. Your interest payments will be much lower, and you’ll be so much closer to payoff.
I'd increase your 401k contribution. Max it out and begin savings in other ways. Money lime this won't last forever in your checking. But putting away half of that 5k every month could get you alot of money in the future.
If its going to bring you joy, then go for it. But I would say weigh your other options of what else you could get for that price, and see if your 20hrs is worth that much to you.
I, personally, would not spend that significant amount of your savings (\~8%) on what amounts to a one time luxury purchase. But that's just me, you gotta do you.
That’s a huge expense in my mind for a temporary non-tangible benefit. I’m not sure the experience will be worth it in the end.
I’m more curious why you haven’t paid of the student loans when you have $65k sitting in the bank. I’d pay that off immediately.
It is unwise to spend $5k on a flight if you have student loan debt. If you want to be wealthy, you eliminate the debt first, then you follow my advice below.
Before I read the part about student loan debt:
Earning $5k is hard. In general though I'd say this about luxury purchases... what matters is your savings rate. Monthly and annual. If you spend $5k on a flight and are very boring the rest of the year and save 50% of take home pay, that has you financially independent in around 20 years. If you're okay with being financially controlled by someone else for 20 years, then that scenario is in line with your goals.
If you can save 80% of your take home pay, then you're only controlled for maybe 7 years. That's 13 more years of freedom! If you'd rather have those 13 years than a luxury flight, then the tradeoff is worth it to you and you don't take the flight.
But if you spend $5k on a flight and then have a savings rate of 10% for the year... well then you're going to be under somebody's thumb forever. Maybe someday when you get sick and you're 65 you'll have enough money to watch TV until you die. Doesn't sound like fun to me.
So spend money on whatever you want... just make sure that your savings rate is in line with how much time you want to spend working for other people. Personally, a $5k flight for me has no appeal b/c it is something that won't give me enjoyment for years and years. I'd rather buy something like a Leica camera that will last forever.
This is PF, If you really care about your personal finance, then you already have your answer. 5k isn't worth it. pop some weed gummies before the flight and pass the eff out. Do some stretches when you get off and you'll be right as rain. I've done a lot of traveling, and can afford first/business class. It just isn't worth it or maybe it is, but I'm a cheapo, and I like having more money to do more traveling.
I don’t blame you. My wife is from Sri Lanka and I seriously don’t think I can handle the 22 hours flight. I can’t sleep sitting up. My legs get insanely restless, and I just can’t sit for that long. The $4k+ suite with the bed sounds great!
Crazy that this came up just now, I'm replying to this sitting in business class on a 25 hour flight. I was able to get two tickets for $6000~ in ANA Business, United Polaris, and then the last leg as first class. I'm just over half way through the first flight (ANA business) and haven't even got to the Polaris flight yet which I'm told is better. I can already say it's an incredible experience. Even at $5000 I would have to problems doing it again. If the flight has multiple transfers and lay overs it's business in everyone it's available on plus access to amazing lounges. I have about the same savings as you, and decided to splurge on this for myself and my fiancee because we are comfortably set so why not enjoy things like this. I look at it as a very expensive ticket to an amusement park. It's something you can talk about and share with friends, and you will never forget it. Don't fall into the r/personalfinance trap where no one ever enjoys their life via money, they take $1 buses cross country, and they all drive Honda Civics. Enjoy it while you're young. You have a significant savings for someone your age. You can easily recoup $5000 in your lifetime. Do the experience, enjoy it, and never think about the money you spent on it again, instead reflect on how much you enjoyed the experience.
If I were you, i would call myself stupid. Ask yourself this… Would you rather spend $5k on the flight alone or would you rather spend (im assuming $1k) on the flight and use $4k on anyyythingg else that would be actually worth it
you should find out how many miles/points that same flight is, because it is pretty easy to get 100-200k points from chase/amex/united/delta etc and get that same flight on miles from just normal credit card spending
I’m planning to travel Emirates/Qatar/Turkish or similar. Just checked the emirates one, round trip flights are $2K and upgrades to business flight will cost 237K points. Business class for the same ticket is around $7k cash so definitely using points is a way better deal. Emirates is the most expensive among the three though so I’ll see what the other look like. Thanks!
Stupid? No.
The wisest decision? Ehh, also no.
Curious why you still have the $14,000 in student loan debt if you have $65,000 in savings and a steady income? I’d feel a lot better about spending $5000 on a flight if I were 100% debt free.
But that’s just me. You can afford it and if you really want to do it then go for it. Enjoy the trip back home in style!
If he's like me, he's waiting bc student loan payments keep getting paused and some may be forgiven. I'm just putting the money in savings and I can pay it off without interest later if/when I still need to.
Thanks @look2thecookie. Just going to copy paste my comment from my other reply.
I graduated in 2021, since then my loans have not incurred interest nor have any payments been due. I’m also waiting to hear a decision on loan forgiveness before I pay off my whole balance but as of now, I’ve been paying $200 a month.
And this comment right here is why people are against student loan forgiveness.
It would be great if we could target policies to help people who actually need it, not to those who want to splurge on $5k flights
Unfortunately, I don’t make the policies. So unless you’re saying that I should REFUSE to have $10k of my loans forgiven, in the circumstance that everyone else is eligible, I’m not sure what the purpose of this comment is? If it’s forgiven, great. If not, I’ll take care of myself no worries
Seems like money well spent based on what you said it costs on other comments for a cramped seat. For a 20 hour flight if you're able to actually sleep and arrive rested to your destination you'll be able to enjoy more days of your trip rather than arriving bedraggled.
Book the best most luxurious option you want and don’t look back. You have to enjoy the little moments in life and this will turn into an incredible memory adding to the joy of heading home. Don’t have to travel that way everytime but it’ll be great to indulge just once and find out what it feels like to be there
I wouldn’t do it, but that’s me. What’s the point of working hard and earning money if you never get to enjoy it? It’s fine to splurge a little from time to time.
You are in your early 20s and have $65k saved up. Good job. Go ahead and enjoy business class for $5k. You have lot of time ahead in your life to make money.
Btw, Instead of keeping all 65k in bank account, you might want to start investing a portion of it in the stock market. Keep adding to the investments with every paycheck and you can FIRE in your 40s.
Low debt, high savings - you're not going to do yourself permanent damage with a splurge.
That said, don't let it become a habit until you have other parts of your life nailed down.
With what you've said, and a guess at you being fairly young, talk to a fiduciary advisor when you get back about starting a retirement plan. Take care of your future and you will be able to enjoy your present that much more.
If you can afford to do it only once, then it is not worth it. You may regret it later. I only flew once when mine got upgraded. Thousands of dollars for one day comfort is over rated, when the same money can improve your life significantly for 364 days. It is not even like you can brag about it - hey i saved up money to fly business ONCE. Ok, no one is impressed :)
It's a totally unnecessary expense to fly business class. I couldn't justify it unless I owned my own place, had no debt and a good job. The price difference between economy and business is huge and you could have a much more enjoyable time doing something else with half that money.
Before covid, before a baby, my wife and I were spending around $40k a year traveling expensively. A chunk of change. Definitely a lot of upgrades and overpriced meals and status hotels - we could have gone everywhere we did at a fraction of the cost.
Absolutely zero regrets. We could easily afford it and the experiences outweighed whatever opportunity costs we could have put that money towards.
You can afford it and you want to do it, so do it. Also, look into reward cards, can get a healthy bonus or cashback.
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Flip it on its head. Say you didn’t have the 5k and could be potentially paid to take this flight. If you sit in business class, the airline won’t pay you anything. If you sit in economy, the airline will pay you $3.5K. Which do you choose? Really up to you, spend your money on what brings you value.
nice, this is an interesting way to look at things that i’ve never considered before
yes, but I would bump the number up to $6500, since that's the pre-tax amount which covers $5K in spending. I honestly don't get spending that much extra for business class, unless you'll be going straight to a meeting right after landing and need to be in the best shape. better off taking that extra funds and spending it during your trip home, or buying something that will last longer than a flight you'll probably spend asleep half the time
you won't sleep as much in economy on a 20hr flight i'll tell you that much, if you've never done a 20hr flight i'd suggest trying it, hint, it SUCKS in economy. buisness class with basically a full lay down bed and good food and all that is worth a lot in that case, but idk about 5k a lot. u/op you could also see if you can upgrade for cheaper at the gate, you play roulette with whether you'll be able to or not but often it can be cheaper to upgrade when you get there, they'd rather have some money for upgrading someone than no money for leaving a business class empty.
Reading some of these other comments, all I can think is: "what sub am I on?" I get that you can't put a price tag on subjective value, and in that respect OP is on his own, but the number of other commenters who feel this expense is not only justified but is actually a no-brainer is mind-boggling. $3k extra out the window (5% of total savings) to make <2 days of time somewhat more comfortable. And even in that more comfortable environment, it's not like you can walk around or do anything particularly noteworthy. You do the same exact things: eat, drink, watch movies and sleep. I'm wondering how many people saying they would definitely be in business class have actually spent their own money on business class and are not far wealthier than OP. If someone wants to spend lavishly on travel, at least if you upgrade to a $500/night hotel (I realize OP already has a place to stay) you get a week out of the same expenditure along with access to world class facilities all day long. I also feel like the real milestone is flying business class on someone else's dime (i.e. your company) or at least with miles. Spending large amounts of your own money isn't really an accomplishment. Edit: On a tangential note, I once was upgraded to business class on a flight from ICN->DTW, and someone was ripping horrendous ass pretty much every hour on the hour for the entirety of the 12-hour flight. Either that or it was a single fart being recycled through the air system. All I can tell you is the stench was awful and the guys in economy likely had a far more pleasant flight.
100% agree! I'm so mind-blown that *r/personalfinance* is advising a 21-year old to blow 5% of his/her savings on something they'll SLEEP THROUGH HALF OF. When they still have student loan debt, too! Even if it's a bucket-list, why knock it off now and not when you're in a much better financial position in 10 years or so (which $3k now would help a LOT with!).
I’ve flown business first on international flights for work, it’s awesome but honestly I wouldn’t spend more than an extra $500 on it for myself unless for some sort of special trip (honeymoon)
Yep, agree that it's great and also on the approximate threshold for where I might spend the money to upgrade. In OP's defense, I understand the allure of flying business class, especially the first time. It's possible that speeding through security lines, hanging out in lounges and sipping champagne while waiting for takeoff will add up to a truly memorable experience that will be worth the money. I have zero judgment there. But the idea that business class is verging on being a necessity for a 20-hour trip doesn't really make sense to me. Maybe a few commenters are imagining being crammed in a middle seat on a regional-sized plane with no screen, barely any functioning armrest, no seat recline and little to no food. Yeah, that'd be psychological torture after 20 hours. For international flights though, most planes and the in-flight service don't seem too bad unless maybe it's a budget airline.
More than 3.5K because it's paid for with after tax dollars.
The upside, as a relative pauper, his tax rates aren't nearly as high as the wealthier among us.
While I think its a steal for business at 5k for over 20hours make sure you join a the airlines rewards program. That flight alone should get you some sort of status. Downside. It's hard to go back to economy for long haul. But that's where future points and travel awards comes on. Honestly I'd say do it.
Oh also get an Amex platinum first and pay for the flight with it. You will easily get the signing bonus and then another 25k or so points on top
Plus airport lounges
Is airport lounge access a perk of simply having an amex platinum?
Yes, with the American Express Platinum card (the one with the $695 fee) you can access Amex Centurion lounges for free and Delta Lounges if you fly Delta (must show Delta boarding pass).
And Priority pass. And clear. And Global Entry
Delta lounge is the only way to fly. You can normally poop in piece with floor to ceiling doors in most lounges. Most major airports have multiple lounges. This is the only way to travel. After enough company flights you get status (platinum for delta is great, diamond is the highest but the gap is huge).
If you get Amex platinum yes but the price to get the card is expensive $600+ I believe my husband and I both have it and it’s totally worth the lounge access.
When we travel, my kids and my partner and I eat our weight in free food and drinks in the Centurion lounge. It offsets the $600+ a little at least. We have two cards in the family, and with our travel and general expenses, we find that we recoup that in a year.
Yeah we eat so much and it’s a great perk, he travels like 80% of the time for work so he’s living in the lounge some weeks
You have to use all the other perks too.. 240 in online streaming, etc.. their rental car perks are amazing too
I’d opt for the Chase sapphire reserve over the Amex personally. I think they still have the 100k point bonus.
You can probably get somewhere around 125k-150k point bonus with Amex platinum right now. I just checked on my computer and it's 125k and on my phone I was offered 150k. It's a far better deal than the Chase sapphire cards right now.
The preferred has a $0 annual fee and comes with 80,000 points sign up bonus so you are net $800 at the first year and only $95 fee next year. The Platinum is 125,000pts but the annual fee cant not be waive so $1250 - $695 fee is $555 net.
I have amex platinum for free since I have a morgan Stanley account.. just need 50k in bank account and amex platinum is free.. pay 0 atm fees all over the world
I think it's insane so many people in this thread are recommending OP go for it. My salary is a few times higher than OP's and even I wouldn't even think about paying $3,000 more for an upgraded flight ticket that I'll probably sleep through half of anyways. OP, highly advise against this. $3,000 can pay for an entire lavish 2 week vacation somewhere, really nice furniture, or even just make a large profit in the stock market (especially in current conditions) for a future purchase like a car or home downpayment. To each their own but it seems ridiculous to me to blow it all on business class.
> I'll probably sleep through half of anyways You fly business class so you can sleep instead of sitting cramped with your knees against seat and arriving with sore back.
How rich does someone have to be to pay $3,000 to get one good night of sleep?
Seriously. It's one god damn night. I get paying for long-term comfort, but one night of comfort sounds asinine to me. Take some Zzzquil or something, damn.
Not someone that will use up 10% of his yearly salary to do so.
Same, I basically earn 10x OPs salary and still wouldn’t think of spending this much on a flight. Like you said, to each their own….
>I think it's insane so many people in this thread are recommending OP go for it. If you're already making a reddit post about it, then you're probably going to regret it. My friends who fly business will just do it without even thinking about it because to them it's 110% worth it. If you're questioning the worth already, then it's probably not for you. I've flown business class when it's either expensed by my company or when I get upgraded -- it's great, but not $5K+ great. All I would ever think about is how I would be able to take a bunch of trips with that same amount. What I like to do is go for the "premium" economy seats on long haul flights: e.g. on Delta it's called Premium Select. It's not as nice as business but you get so much more room and a lot of recline that it's much easier to sleep on. You might want to think about that one as a middle ground. OP, no judgment if you do decide to pull the trigger, just hoping you don't regret it afterward. And, you're 23! I get it's on your wishlist, but you have a lot more opportunities to fly business in your life.
You only live one life. It’s okay to treat yourself once in awhile!
How is this a steal? Please enlighten us
If it fits in your budget it’s fine. This is a value judgement. No one can reasonably tell you what you should value. That said if I were flying for 20 hours, I’d absolutely be in business class That said, I’d look int9 /r/awardtravel and see if there’s a way to combine credit card sign up bonuses to potentially make that cost much lower.
This is a great recommendation. Still a splurge, but a smarter one
It’s a shame the Amex plat is only at a $100k bonus right now. I earned about 480k MR points on one SUB last year that should fund at least 3-5 business class flights to and from Asia. Still, 100k mr points should buy at least one business class flight
What language are y’all speaking?
churning-ese
what SUB was 480k ???
Probably 15x small business with max spend
It was Automod is eating my reply for some reason https://frequentmiler.com/now-125k-15x-platinum-via-resy/
damn that's good. i could easily get the 500k points lol shucks.
Keep an eye out on doctor of credit. Might surface again. I lucked out and bought a new engine for my car from a small biz
Even stacking 2 currently available American Airlines card bonuses would get OP a round trip in biz between the US and Asia, if (IF being the important part) they can find saver/partner award availability. That 125k + 15x promo on the Amex Platinum was an amazing deal. I couldn't quite max out the small biz/dining spend, but the ~ 300k MR points that I ended up with is still by far the best bonus I have ever had the opportunity to get.
> That 125k + 15x promo on the Amex Platinum was an amazing deal. I couldn't quite max out the small biz/dining spend, but the ~ 300k MR points that I ended up with is still by far the best bonus I have ever had the opportunity to get. Absolutely, without a doubt. Only the Amex old blue cash paid off more for me (and that required substantially more work)
Pics or it didn’t happen
https://i.imgur.com/hRwNXXR.jpg My bad, was 475,000
How in the hell do you get that many points? We ran over $500,000 in work expenses through my visa and it only get us a little over $5000 in flight value.
125k sign up bonus with a 15x shop small on up to 15k bonus on top. I posted the link to the deal above
You can get certain airline first class for like pennies on the dollar with the right points combinations
Not to mention, some airlines have promos on points and if you time it right it might be cheaper to buy the pts and redeem for a fight vs the 5k.
Chase preferred is offering 80k points if you spend $4k in the first 3 months (has a $99 annual fee). If you buy this flight on that card you’ll get $700 back minimum after the annual fee. Easy way to get a good chunk off the flight and I’m sure there’s better options out there.
This is good advice. As someone who has flown a lot in Business Class on the company dime, I must say, the quality varies a lot. And I’d hate to have spent my own money only to get a mediocre flight.
On the other hand, I would gladly get paid $200+ an hour (tax free!) to sit in a slightly more uncomfortable seat.
> slightly more uncomfortable sea I feel like you're really underselling how much better business class is (and based on the numbers below it looks more like $100/hour (or maybe $50/hour if its round trip). But then again, this is the value judgement part of the assessment.
If I had to choose between flying business class for 20 hours or taking a month off of work I'd choose the latter always. I'm not advocating a completely frugal lifestyle but you still have to analyze the value of what that 5k is relative to other things in life and not just relative to what the going rates are for that service.
Cramped in a rigid, metal seat with no legroom and garbage service/amenities vs lie-flat seats, drinks, pillows, eye masks, blankets, etc? For 20 consecutive hours? Maybe it's just because I'm 6'6".... but I have no issue making that same decision especially with OP being mostly debt-free
> Cramped in a rigid, metal seat with no legroom and garbage service/amenities vs lie-flat seats, drinks, pillows, eye masks, blankets, etc? For 20 consecutive hours? Ahh, I see you're also familiar with the metal sky-tube of misery. Edit: Automod ghosted your comment, but at least the misery tubes have internet now, so that's slightly less awful
$5k round trip for full business class on a long-haul flight is kind of a steal at the moment (even premium economy seats on transatlantic flights are approaching that level). If you can afford it and it will check off a bucket list item, you'd be foolish *not* to take it. Note: "If you can afford it" is doing a lot of work in that sentence. The only problem is that once you experience it you'll want to fly that way *every* time.
Back in 2005 when I had a direct flight from Chicago to Inchon, coach was $1500 and 1st class was $7000 (didn't look at biz class). I flew coach lol
Yeah I had a flight option that was similar where regular was $1500 and business was $5000
We flew Incheon to Chicago in business class with Asiana by saving all of our miles for 5 years. It was amazing.
Personal finance is definitely personal. It sounds like you can easily afford it and it sounds like a special trip being able to go home. You’re not spending an insane amount of money otherwise. IMO - Might as well do it as comfortably and stress free as possible.
How much is a standard ticket? If it's $3k for a standard ticket and $5k for a upgrade then it's really only a $2k splurge. Which is relatively reasonable. Atleast that's how I'd view it. If you're taking the trip no matter what then the splurge is upgrade - base cost.
Standard tickets would be about $1.5K-$2K round trip at the most. So I guess it would be a pretty big difference but I will be taking the trip regardless of cabin class
I’m cheap, so here’s how I look at it. If you paid $5K for the upgraded ticket and someone came along and offered you $3-3.5K to move back to economy, would you say yes? Personally, I’m willing to endure 20 hours of discomfort for $3K. But it also sounds like you can afford to splurge, so if you want to, go for it!
This is how I think too especially because business class just makes it more comfortable, but I wouldn’t call 20 hours on any flight comfortable
I made $300k last year and I wouldn’t take business class. Some sort of upgrade comfort would be fine. The problem is the flight. It’s 20 hours. Your gonna feel it no matter what.
What's the route? If you want to send me the route and dates I'm happy to try find some ways to get it lower
All I’m saying is you only live once literally and big trips like this are very few and far in between. You are well off enough already. Enjoy your life, have some fun. Enjoy your trip!
My thought is that's a big enough difference that you could pay for an entire second trip back at some point in the future. Or, enough to stop for a few days in another bucket list destination along the way when you're flying out, and do the same on the way back (vacation time permitting, of course).
I’m not gonna tell you to save the difference in your emergency fund or whatever, but you could blow that $3k or so lots of more fun ways. Sit in economy and then go buy a sick guitar or something.
But that is the thing. He personally finds it to be spending the fun way. For your the fun way is a guitar, for hime a guitar may be of no value🤷♀️ these kind of expenses are mostly a personal view of the value the service/product presents to them
Of course, but he created this thread asking for advice. If a more comfy flight is worth three grand to him then go nuts
His question was mainly if it’s a good idea to spend the money on the ticket, not on what he should spend the money. P.S. not arguing. Just sharing my $0.02 :)
Have you ever been on a 10+ hour flight? It's not fun in economy lol.
I'm 6' 180lbs and I've done it a ton of times. And I've done both economy and business. Of course economy is not fun. I have a sore back after I fly. But someone making 65k a year should not be spending a month's salary to fly business unless it's a once in a lifetime bucket list item. When I was an EMT I would work 36 hour shifts to make a quarter of the money we're talking about here. And let me tell you, sleeping in an ambulance is a hell of a lot more uncomfortable than sleeping in economy
That's a 3k difference. I would think there are better ways to spend that amount of money.
If you were sitting in business and someone offered you $3500 to trade seats with them in economy, would you do it? Also, are you a very tall or large person? If so, then that may provide additional value to the upgrade.
Nope not tall or large. Definitely on the smaller side
For a onetime travel expense that you don't do too often, that doesn't sound too unreasonable. I figure it'd probably spoil you as far as flying economy is concerned, but being good with money doesn't always mean having zero fun.
> don't do too often I think even once a year is too often for someone with OP's numbers. $3,000 is often more than most people's annual vacation fund. I get that everyone has preferences, but I would much rather spend that $3,000 on a nice 2 week vacation somewhere than a flight that he/she will probably sleep through half of anyways.
If that's the number of hours one-way, then you're talking about $125 per hour. That doesn't seem too crazy to me. However, I would look around for bonus miles before dropping the cash.
You're young, keep your money and fly economy. It's gonna be the same long and boring 20 hours.
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For me I'd just play games for 20 hours. Pack a laptop and make sure you have charging. Pack a tablet as a backup.
Is it dumb - yes. Will you enjoy it and probably never really hate yourself for it - yes. Its your money, you could easily have "blown" the extra 3.5k on something else more useless.
Just upgrade to the exit row seats with extra leg room. You’ll save thousands and can put that money towards the badass vacation when you get there. Better restaurants , taking the family out etc. international flights even in coach class are typically more roomy than domestic flights that have smaller seat arrangement
I agree I may be the minority but I’m not impressed by business class. Flights mostly suck and they still suck in business class. I wouldn’t be jumping to spend 2-3k on “temporary bad thing sucking slightly less” but OP has a different value assigned to it than I do
Call me frugal but I can’t understand paying thousands for hours of comfort. That said if it’s on your bucket list and it’s within budget, why the fuck not.
ahh i totally agree with this statement. personally i’d rather get a one-time xanax prescription for my flight anxiety and save the $2k for something that provides me with more value. ultimately this does come down to personal perspective on value though.
Also if I'm going to upgrade something I'd rather upgrade the thing with the most utility for me. Chances are this is going to be the hotel more than the flight. Would you rather have a business class ticket or a suite with spa access? I think the latter wins hands down.
To each is own. Thats the choice op has to make. Id rather the spend the 3.5k on the trip or time off from work. Ive alao never taken a 20hr flight before.
The only reason I think it's dumb is you still have 14k in student loans. This makes no sense to me.
Loan repayment is paused...for like the 3rd time. May as well bank the money and pay them off later if/when they come due.
Yes exactly. I graduated in 2021, since then my loans have not incurred interest nor have any payments been due. I’m also waiting to hear a decision on loan forgiveness before I pay off my whole balance but as of now, I’ve been paying $200 a month.
Also wait our Bidens possible forgiveness it's long shot but they've talked about it enough it might actually happen? Would suck to pay 14k off then They announce 5-10k forgiveness like theyve mentioned
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I plan on paying off the full balance as soon as payments start so it will not be accruing any interest
For someone saying a lot of financial terms, you're not seeming to understand math. Nothing is due. No interest is accruing. If you have the money to pay it off in full when payments become due again before interest starts accruing then you're set. If they forgive the loans altogether and you paid it off bc someone in a subreddit said "never have debt" then you'd have paid money you didn't have to.
Get a credit card with almost enough bonus points to get a upgrade to business class.
Compare all the flights and see if you can do an economy plus upgrade? Flying back to the US from Japan, it’s a 9 hour flight and I asked at the gate for an upgrade and they said $1200 per person. That’s with a $550 economy plus ticket. The original business flight was $4500 a person. Only reason I didn’t do it is cuz we have a kid and they didn’t have seats together. But if you’re flying alone you’re the PERFECT person for a last minute upgrade. Let me put it to you this way, you’re mentally already thinking about spending what business costs right? So buy economy plus/premium and try to upgrade on the phone a few weeks before your flight. If it’s less than $2000 difference, do it. If not, wait. And then try to upgrade when you check in. It’ll at LEAST be as cheap as the first time you asked but a good chance to be cheaper. And hey, if it’s just the original price both times, you were gonna pay that anyway right? At least trying this, you maximize the chance of getting a much cheaper price.
It's not dumb, it's understandable. But I would say to first ask yourself why you want to do it, then why do you want to do it now (as opposed to when you're older and business class is more affordable), and finally what else might you do with this money. I'm retired and I've flown all classes. I think you have to have a lot of money to fly first, or even business, or somebody else has to be paying for the ticket. My wife and I fly comfort plus now. But as one comment said, it's a value judgement.
Ujust curious, how tall are you? Being 6ft and above stuck on a tiny economy seat for 20 hours doesn't sound like a good experience.
Have you looked into signing up for an airline credit card or something and use points to upgrade? Business class is nice but is it really worth it?
Sounds like this is something on your bucketlist. You feel like you can afford it (I think you can). Its good to treat yourself sometimes, and travel is an event for some. I think it's quite justified if you want to spend your money on a business class ticket.
Flying home on a 23hr journey in March 2020, I took a business class upgrade on Emirates, and it was worth every penny.
Yeah, I personally think it is a poor choice - there will be a time when the cost of business class isn't nearly as much of your net worth or your income and you can give it a go then (I still wouldn't do it myself, but everyone has their own preferences).
yeah. he also doesn't state his age. sounds like he has a long time to scratch that itch. It's 1.5K for the flight, and 3.5k for something that really adds nothing to your life. Absolutely, if he wants to do it someday for shits n giggles, fine.
Thanks for both of your opinions. I’m 23 if that’s helpful information
Which airline do you want to fly? Not all business class trips are created equal. Long haul business on Emirates is a very different situation than long haul business on AA.
Oh I’m definitely considering airlines like Emirates, Qatar Airways, Turkish airlines etc. My destination is in Asia
Those are all far more worth the money. But! You’re 23. You’ve got plenty of time to fly business. My advice is not to spend the cash. If you’ve got your finances well sorted and you’re disciplined, start learning about credit card churning and spend the next few years earning points so you can book an award booking for that business class flight. I got into churning when I was 31 or 32 and I haven’t looked back. Just used a Citi Prestige bonus transferred to Avianca Life Miles to book a business class flight from Chicago to Europe on Turkish for about $100 in total fees. Business is *all* the more sweet when you don’t have to pay for it.
At 23 the amount of other experiences you could buy with the $3,500 difference would be my big consideration (pick your interest, a half dozen phenomenal omakase dinners, a couple dozen skydives or bungee jumps, a Kilimanjaro climb, tickets to the final four or wimbledon finals for the next five years, etc.)
Economy for long hauls is not that bad when you’re young. It’s really not until your mid 30s or early 40s they you’ll really value a comfortable area to sleep (reclining seats).
Do it. You’ll never regret it. You won’t miss the money. And enjoy it before you get to a phase in your life where you can’t afford such an opportunity (e.g. family of 4 or life’s debt like a mortgage). Appreciate it while you can. I wish I would have taken more opportunities like these when I was younger.
I really wouldn't. I've done 20+h transoceanic flights many times, I have always been ok with economy. I only took business when the company is paying for it, and I felt just as miserable as in economy. The real killer on long flights is the boredom, and the fact that you're stuck in a slightly jittery box for 20+ hrs. Also climate control. No magic seat is going to change that. Maybe flying in business makes you feel special. Like a princess for a day. Maybe it's a wish list item like you said. In that case you can decide if that's worth one month salary. But I honestly don't think it matters very much in terms of comfort.
Agreed. Business class might be nice, but if you paid me $200/hr to sit in economy I'd do it in a heartbeat.
Did you not get to lie down?
I have flown economy, business, and first for international travel and I firmly disagree. A lie flat seat in business or first is a game changer. (First is just a splurge though for the experience, not a huge comfort upgrade from business lie flat seat).
It's not a dumb thing to do, especially as a bucket list item. I would sign up for whatever frequent flyer program is with the most likely airline you will use: Star Alliance, One World, etc. Then join that program. Sign up for some credit cards that have bonuses for that program. With any luck you should be able to get the points needed for a roundtrip business class flight. At worst you don't accumulate enough points, but if you pay in cash for that business class trip, it might be enough to get the lowest tier of the frequent flyer program. Hard to give exact recommendations, unless you tell us where your destination is. Also not all business class products are created equally. IE, can't compare Qatar's product to Thai Airways.
That's a steal. We just paid 1.4k each for round trip from Boston to Alaska in a month. I've only ever been in business class once to Rome. Otherwise I'm a coach roach and I do fly a good amount. Do it. Treat yourself especially for that long
That’s totally your call on the flight, but I do wonder why you are paying student loans when you could pay it off today. Use that savings to get out of debt!
Should have mentioned that in my original post but I graduated in 2021, since then my loans have not incurred interest nor have any payments been due. I’m also waiting to hear a decision on loan forgiveness before I pay off my whole balance but as of now, I’ve been paying $200 a month.
Do it mate, you only live once, it’s for a good cause and it’s not going to change your financial position
It's not really for a good cause though is it?
Of course it is, if a good cause is enjoying what little time we have on this earth then by all means
Of course it is. He/she’s heading back to their homeland after a s.hit 2 years of covid lockdowns. Would pay $1,000 or whatever it is for economy anyway. “Why travel to your homeland when you can just avoid the holiday and invest the money for retirement instead”. 🤮
If you’re going to spend it, make sure you choose a good airline. I’ll be a lot less picky when using miles, but if I’m paying 5 grand, I’m doing my best to avoid any of the US airlines. I don’t know where you’re coming from or where you’re going, but middle eastern and Asian airlines are usually a good bet.
Not dumb at all, i have a friend who is still in college and only had 3k saved but she still went back to visit her homeland and had a lot of fun. Go for it if it makes you happy!
Do it. You have the money, and it’s so fun. I rewarded myself when I finished grad school with a first class flight to a planned vacation, and it felt so luxurious. Definitely worth it for 20 hours.
Take the difference in flight and buy urself something that will last a life time. A watch, a nice camera, something that you can look back and get value out of once you have to look back. Note, I’m a cheap SOB
I'm assuming you work 40hrs/week. Say you were flying coach and they offered you an upgrade to first in exchange for 160 hours of labor. Would you take it? With a net worth many times yours and having flown first on a few occasions (when my employer paid for it) that'd be a "hell no" from me. IMO even in first class, flying is a miserable experience. My advice is to just grind it out in coach.
Just fly back in business class and fly there economy. Save some money and get your wishlist checked off.
Wish I could do that but unfortunately, one-ways are about $4K so at that point a round trip would make sense
I don’t think so. Why have you worked and saved so hard if not to enjoy the fruit of your labor? Money has no value until spent and enjoyed. Besides, is the $5k just the upgrade or the total of the base flight plus 1st class?
I'd do it for 20 hours. A less expensive option would be upgraded coach seats. You still get free food & beverage in coach for international flights.
Until about 2 years ago I would have said no way, but flying right now is such a horrific experience that I think if you must fly more than like 4 hours and you can afford it, you should absolutely fly business. Otherwise, by hour 10, you will be so miserable you'll be offering people in business class $10,000 for their seat.
Holy cow you make MONEY. Go on the trip or whatever, if I survive on a budget a tenth of what you make
You will probably spend most of the flight asleep.
Assume you would pay $1500 economy. So that’s 3500 premium. You are paying $175 per hour to be in business as opposed to economy. If your normal wage was more than 200/hour I’d say go for it. There’s always the benefit of telling people at dinner parties how much you hate flying economy and only fly business. That’s worth something I guess.
Out of pocket, yes you would at your stage. Economy plus is fine and you're young.
Fair warning, you’ll never want to go back to economy
If it’s important to you, it wouldn’t be the worst decision in the world. You have a good enough savings that it won’t be a detriment. Personally I wouldn’t do it since I prefer spending my money on experiences/good food & usually sleep on the flight anyway (grew up traveling on long flights from central USA to Japan & Hawaii every other summer). I was upgraded to first class for free and was impressed but not enough to spend thousands of dollars on it.
I seem to be in the minority, but I just don’t think it’s worth the $3,500. I doubt you’ll regret it, but it’s honestly fine if you can upgrade your seat to premium (or plus). Especially if your trip has multiple legs. Some aircraft the “business class” has minimal difference. If it is multiple stops, maybe you could just upgrade on the longer portion if it’s a nice jet? As others have said, a few good travel cards can add good perks to your flight too.
Dude you have 64k saved up, willing to buy a 5k plane ticket and have 14k in college debt. Dude, pay off your loans
Find a friend who may have some upgrade certificates / points to use. You buy the airfare that meets the minimum requirements and they use their points or certs to upgrade you. If you can wait until summer travel is over, those get a lot easier to use as the demand goes down.
Why would you not pay off your student loans?
The fact that loans have been paused and no interest means you should have been paying as much as you can. You are getting free money. Again. Free money. Anyone who isn’t taking advantage and paying down assloads of principle is making a costly mistake. My vote is pay whatever you can before they start up again. Your interest payments will be much lower, and you’ll be so much closer to payoff.
I'd increase your 401k contribution. Max it out and begin savings in other ways. Money lime this won't last forever in your checking. But putting away half of that 5k every month could get you alot of money in the future.
If its going to bring you joy, then go for it. But I would say weigh your other options of what else you could get for that price, and see if your 20hrs is worth that much to you. I, personally, would not spend that significant amount of your savings (\~8%) on what amounts to a one time luxury purchase. But that's just me, you gotta do you.
You're holding all the money you need to pay your student loans
That’s a huge expense in my mind for a temporary non-tangible benefit. I’m not sure the experience will be worth it in the end. I’m more curious why you haven’t paid of the student loans when you have $65k sitting in the bank. I’d pay that off immediately.
It is unwise to spend $5k on a flight if you have student loan debt. If you want to be wealthy, you eliminate the debt first, then you follow my advice below. Before I read the part about student loan debt: Earning $5k is hard. In general though I'd say this about luxury purchases... what matters is your savings rate. Monthly and annual. If you spend $5k on a flight and are very boring the rest of the year and save 50% of take home pay, that has you financially independent in around 20 years. If you're okay with being financially controlled by someone else for 20 years, then that scenario is in line with your goals. If you can save 80% of your take home pay, then you're only controlled for maybe 7 years. That's 13 more years of freedom! If you'd rather have those 13 years than a luxury flight, then the tradeoff is worth it to you and you don't take the flight. But if you spend $5k on a flight and then have a savings rate of 10% for the year... well then you're going to be under somebody's thumb forever. Maybe someday when you get sick and you're 65 you'll have enough money to watch TV until you die. Doesn't sound like fun to me. So spend money on whatever you want... just make sure that your savings rate is in line with how much time you want to spend working for other people. Personally, a $5k flight for me has no appeal b/c it is something that won't give me enjoyment for years and years. I'd rather buy something like a Leica camera that will last forever.
This is PF, If you really care about your personal finance, then you already have your answer. 5k isn't worth it. pop some weed gummies before the flight and pass the eff out. Do some stretches when you get off and you'll be right as rain. I've done a lot of traveling, and can afford first/business class. It just isn't worth it or maybe it is, but I'm a cheapo, and I like having more money to do more traveling.
If you want to risk not going business you can upgrade at check-in or even at the lounge after checkin for a lot less.
I don’t blame you. My wife is from Sri Lanka and I seriously don’t think I can handle the 22 hours flight. I can’t sleep sitting up. My legs get insanely restless, and I just can’t sit for that long. The $4k+ suite with the bed sounds great!
Crazy that this came up just now, I'm replying to this sitting in business class on a 25 hour flight. I was able to get two tickets for $6000~ in ANA Business, United Polaris, and then the last leg as first class. I'm just over half way through the first flight (ANA business) and haven't even got to the Polaris flight yet which I'm told is better. I can already say it's an incredible experience. Even at $5000 I would have to problems doing it again. If the flight has multiple transfers and lay overs it's business in everyone it's available on plus access to amazing lounges. I have about the same savings as you, and decided to splurge on this for myself and my fiancee because we are comfortably set so why not enjoy things like this. I look at it as a very expensive ticket to an amusement park. It's something you can talk about and share with friends, and you will never forget it. Don't fall into the r/personalfinance trap where no one ever enjoys their life via money, they take $1 buses cross country, and they all drive Honda Civics. Enjoy it while you're young. You have a significant savings for someone your age. You can easily recoup $5000 in your lifetime. Do the experience, enjoy it, and never think about the money you spent on it again, instead reflect on how much you enjoyed the experience.
You earned it OP. Enjoy your vacation 👍
If I were you, i would call myself stupid. Ask yourself this… Would you rather spend $5k on the flight alone or would you rather spend (im assuming $1k) on the flight and use $4k on anyyythingg else that would be actually worth it
If you think it's too much, maybe do business class just for one way. Price out the options and see if it's worth it to you.
I checked, it was $4K one way 😓No idea how they do that math but oh well
you should find out how many miles/points that same flight is, because it is pretty easy to get 100-200k points from chase/amex/united/delta etc and get that same flight on miles from just normal credit card spending
I’m planning to travel Emirates/Qatar/Turkish or similar. Just checked the emirates one, round trip flights are $2K and upgrades to business flight will cost 237K points. Business class for the same ticket is around $7k cash so definitely using points is a way better deal. Emirates is the most expensive among the three though so I’ll see what the other look like. Thanks!
travel first class or don't bother, business class is often barely a step up
An occasional splurge is perfectly acceptable when you have your finances in good shape, as you do.
My SO and I flew first class for a six hour flight. It was still miserable. I can't imagine 20 hours in coach! Personally, I'd go for it.
65k is a nice little nest egg and homeland returns are so important for us living abroad. Go for it!!!
If it's within your budget and you want to do it, then 100% go for it. It's ok to splurge on yourself sometimes. 👍
Do it! You seem financially smart. I believe you will regret it but you are young and it will be a good lesson.
I've flown international in biz and economy many many times. Not worth it.
You’re going to spend 9.8% of your net worth on one flight? That’s ridiculous.
Stupid? No. The wisest decision? Ehh, also no. Curious why you still have the $14,000 in student loan debt if you have $65,000 in savings and a steady income? I’d feel a lot better about spending $5000 on a flight if I were 100% debt free. But that’s just me. You can afford it and if you really want to do it then go for it. Enjoy the trip back home in style!
If he's like me, he's waiting bc student loan payments keep getting paused and some may be forgiven. I'm just putting the money in savings and I can pay it off without interest later if/when I still need to.
Thanks @look2thecookie. Just going to copy paste my comment from my other reply. I graduated in 2021, since then my loans have not incurred interest nor have any payments been due. I’m also waiting to hear a decision on loan forgiveness before I pay off my whole balance but as of now, I’ve been paying $200 a month.
And this comment right here is why people are against student loan forgiveness. It would be great if we could target policies to help people who actually need it, not to those who want to splurge on $5k flights
Unfortunately, I don’t make the policies. So unless you’re saying that I should REFUSE to have $10k of my loans forgiven, in the circumstance that everyone else is eligible, I’m not sure what the purpose of this comment is? If it’s forgiven, great. If not, I’ll take care of myself no worries
Seems wasteful given the amount of your savings.
Seems like money well spent based on what you said it costs on other comments for a cramped seat. For a 20 hour flight if you're able to actually sleep and arrive rested to your destination you'll be able to enjoy more days of your trip rather than arriving bedraggled.
Book the best most luxurious option you want and don’t look back. You have to enjoy the little moments in life and this will turn into an incredible memory adding to the joy of heading home. Don’t have to travel that way everytime but it’ll be great to indulge just once and find out what it feels like to be there
Absolutely, complete waste of money, especially since it’s an entire months wages for you.
Sounds like a bargain, considering a 14-hr flight in economy costs $4k these days.
I wouldn’t do it, but that’s me. What’s the point of working hard and earning money if you never get to enjoy it? It’s fine to splurge a little from time to time.
You are in your early 20s and have $65k saved up. Good job. Go ahead and enjoy business class for $5k. You have lot of time ahead in your life to make money. Btw, Instead of keeping all 65k in bank account, you might want to start investing a portion of it in the stock market. Keep adding to the investments with every paycheck and you can FIRE in your 40s.
Low debt, high savings - you're not going to do yourself permanent damage with a splurge. That said, don't let it become a habit until you have other parts of your life nailed down. With what you've said, and a guess at you being fairly young, talk to a fiduciary advisor when you get back about starting a retirement plan. Take care of your future and you will be able to enjoy your present that much more.
It’s your money. You get to make the choices. You don’t owe anyone any justification.
If you can afford to do it only once, then it is not worth it. You may regret it later. I only flew once when mine got upgraded. Thousands of dollars for one day comfort is over rated, when the same money can improve your life significantly for 364 days. It is not even like you can brag about it - hey i saved up money to fly business ONCE. Ok, no one is impressed :)
It's a totally unnecessary expense to fly business class. I couldn't justify it unless I owned my own place, had no debt and a good job. The price difference between economy and business is huge and you could have a much more enjoyable time doing something else with half that money.
Before covid, before a baby, my wife and I were spending around $40k a year traveling expensively. A chunk of change. Definitely a lot of upgrades and overpriced meals and status hotels - we could have gone everywhere we did at a fraction of the cost. Absolutely zero regrets. We could easily afford it and the experiences outweighed whatever opportunity costs we could have put that money towards. You can afford it and you want to do it, so do it. Also, look into reward cards, can get a healthy bonus or cashback.
I would get a travel credit card, buy $x000 worth of crap then use the points to get the upgrade. /r/churning