'Should you go on holiday while in debt?' poll discussion

OrkneyStar

MSE_Lawrence wrote: »

Should you go on holiday while in debt?

A family with total earnings of £35,000 has nearly £15,000 on a credit card (at 6.8% life of balance). They’re slowly chipping away at it, but are still five years off debt-free status.

Yet they haven’t been away for two years and are desperate for the guaranteed sun and a bit of the luxury of a foreign holiday, which would push off substantial repayments for a long time afterwards.

What would you suggest they do?

A. No holiday until debt free. Then life gets easier anyway.
B. Camp in the UK. It’s dirt cheap but still a break.
C. Cheap overseas break’s fine. After all the debts aren’t that costly.
D. Time for a treat. After all they’ve been good for ages.

Please vote here, or click 'post reply' to discuss below. Thanks

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Option A is a possibility, if there are no children involved, however as a family it would be nice for the children to get some time away from home.
Option B would be my preferred option- this may also help them learn about budgetting and how to have a good time on little money. An alternative to camping would be an 'at home' holiday, where they make a point of spending time together (walks to park, playing games, baking, making things etc together).
Option C and D strike me as greed and can be arranged once the debt is paid.

OrkneyStar

skintas wrote: »

i need a holiday something tolook forward too, im amking al the payments every month, and i dont go out drinking or wasting my money so why cant i treat myslef to a cheap holiday

Change that to want as a holiday is not a need!

Broken_hearted

Well I need a holiday, time away from all the stresses. No phone calls or snotty letters for a week.

OrkneyStar

Broken_hearted wrote: »

Well I need a holiday, time away from all the stresses. No phone calls or snotty letters for a week.

Again change that to want please .

squirrelchops

This poll made me smile as had been discussing exactly the same thing recently with my OH.

Some firends of ours have just started an IVA. They also owe me a lot of money due to an arrangement we had regarding them buying me out of my house we which used to share.

I have no debt (except a student loan), OH has minimal debt and earns good money so we can afford nice holidays. However, our dream was to get a camper van which we did so our summer holidays shall be camping. Yes, the initial outlay of the van was higher but by my reckoning the cost of the van is about what we spent on holidays last year so shall soon break even.

THEY with the IVA and debt up to their eyeballs are currantly in Spain for 10 days!!!! My OH's face was a picture when i told him that one! Admittedly they are staying at a friends villa but when you add in all those other costs eg flights, car hire etc etc i really dont know where they get their money from.

cozlw

I think they should be sensible and realise that they really cannot afford a holiday at this present time. Their in enough debt and it wont really help matters. A holiday isnt essential, its a luxury and often one of the first cut-backs to be made when times are hard.

Even the 'Cheap holidays' can become quite costly despite much planning. If they can stretch to a holiday then they can stretch to pay that bit extra towards debts and clear it faster.

aubreyfreeman001

I don't think there is anything wrong with them taking a holiday - if they work hard like the rest of us do, then why shouldn't they have a 'treat'?

We don't know the reasoning behind their debt, just because they currently have a good income doesn't mean they always have had.

As long as they are making the re-payments, as someone else has already pointed out - life's too short.

I also find that UK holidays are so expensive nowadays that a family holiday abroad often works out cheaper - most things in the UK are now part of money making schemes that ultimately bleed us dry!

Irishorangutan

I think people are way over the top with their criticism of people who take holidays when they have "better things to spend money on". It's a personal choice, and I also think there are some cases where people "need" a holiday.

That said, at the moment, I think the economic situation is pretty dire coupled with being in debt, I'd hold off as long as possible from going away.

Also, to the person who said "if they are earning £35 grand they shouldn't be in debt". There are several reasons why they may be in debt.

OrkneyStar

Irishorangutan wrote: »

I think people are way over the top with their criticism of people who take holidays when they have "better things to spend money on". It's a personal choice, and I also think there are some cases where people "need" a holiday.

That said, at the moment, I think the economic situation is pretty dire coupled with being in debt, I'd hold off as long as possible from going away.

Also, to the person who said "if they are earning £35 grand they shouldn't be in debt". There are several reasons why they may be in debt.

I'd say a family bereavement, dealing with a very ill/disabled child, mental breakdown, perhaps merit a need for a holiday, not sure what else does ?
Incidentally there is nothing wrong with wanting a holiday, just for your own benefit, you just might have to accept that you won't always get what you want!

jackieblack

For me it's basically a question of attitude -
do they put their desire for a holiday above their desire (and responsibility) to clear their debts?