Holiday dilemma

pukkamum

ailuro2 wrote: »

I'm of the opinion that holidays are a luxury and not something to take out debt for.

sorry if that bursts anyone's balloon, but I'd be putting away the £50 a month somewhere that I couldn't touch it and be having a cheap weekend away somewhere using Tesco vouchers / cheap Travelodge, and then saving the money up for next year.

I think you need to put more than £50 a month away to go abroad with 2 adults and three kids.

Buy now, pay later gets you less for your money in the long run!;)

This is exactly my thinking, we want to do a french camping holiday next year and i would rather book that and not have worry about the cost than get another loan.

We have been reminiscing about the lovely times we have had in North Wales and Cornwall so am hoping he'll agree to the camping.

lynzpower

If you have your "nest egg" borrow it out of that and pay it back .You wont have the intrest charges to pay, and any "arrangement fees etc"

pukkamum

pinkmami wrote: »

I wouldn't bother going abroad with a 5 months old. I'm one who loves lounging by a pool (after paying so much to get there) & with a baby I can't do that. My kids are 9, 7 & 3 & we go to Center Parcs about twice a year if we can. I've never go into debt for a holiday.

Once they're older I'd consider it but when I have a toddler I prefer to be in this country where I can easily get home in a matter of hours should the need be.

I agree!!!!!
I want to lounge with a blockbuster not comfort a very difficult baby i will be using this!!!!

pukkamum

lynzpower wrote: »

If you have your "nest egg" borrow it out of that and pay it back .You wont have the intrest charges to pay, and any "arrangement fees etc"

I would but i have promised myself that i will never ever touch it and i will not dip into it becasue that will open the floodgates and before i know it there'll be none left!!!!
I would rather do without!!

lynzpower

It is crazy to take a loan with high interest payments though.

In that case I would leave it alone! Dont bother. If you can save your coppers in a jar and you have a car you could take the car and go camping for a few days in the Uk in the summer beg and borrow a tent if you dont have one. We had an amazing time doing this in the UK and only paid 5.00 a night on a v basic campsite :money:

the problem is when you are paynig backwards, you dont have the money to save to pay forwards. From stopping living on debt you need time to put your car into gear instead of reversing.

Must be hard when he is exhausted and needing a holiday. Is there anything you can cut back from elsewhere?

MrsE_2

I wouldn't borrow more than you can pay back in a year, you don't want to be paying for it over 2/3 years, otherwise next year you will want a holiday & still be paying for this one.

Some ideas for cheapies abroad
1. Turkey
2. Camping in France
3. Hire a small villa or apartment privately.

omnyomi

make_me_wise wrote: »

Instead of getting a loan to pay for a holiday, could you house swap with any of your relatives?

ailuro2 wrote: »

I'd be putting away the £50 a month somewhere that I couldn't touch it and be having a cheap weekend away somewhere using Tesco vouchers / cheap Travelodge, and then saving the money up for next year.

I was going to suggest these ideas alongwith the house swap idea. We have taken holidays in the UK by staying with friends or family, using their place as a base and perhaps staying in a hotel for a night further afield then returning back to the base and doing lots of days out around the area.

We also did Scotland via Travelodge offers and Tesco vouchers for attractions, great holidays but then every holiday we have is great, nice to get away

A friend once didn't have much money so he took a holiday in his home town :rotfl: Sounds weird but he visited places he'd never bothered with before, ate in restaurants he wouldn't usually and went out for long walks that he'd never discovered before, and even sent postcards to relatives about what he'd been doing :T

I just would not take out a loan for a holiday this year then be paying it back next and face the same quandary next year. Take a very cheap one this year and start saving for next, I now always put away £150 per month for a holiday and never have to worry.

Lunar_Eclipse

Any wrote: »

I really cannot see how this option is better. Not all mortgages allow you to do overpayments, so if they don't you will be stuck with debt for next XY years, which yes, APR might work out cheaper PER ANNUM but over long term becomes 3x the amount you borrowed to start off with.
+ possibly chance of paying admin charges etc..

OP I would suggest you defo don't do this if you can help it.

Actually you can (overpayments), it's just not normally considered for short term debt. I'm not recommending it, just suggesting that should one opt for debt, this could be cheaper (& thus preferable) to a loan!

The vast majority of mortgages do allow overpayments, so that's how this option is better. So if the mortgage allowed for overpayments, it would be a cheaper option if the OP made the required overpayments, similar to their previous/current loan repayments.

Another cheaper option would be a 0% credit card.

The problem with any of these suggestions is that their success depends on the discipline of the user to make repayments.

But you may also notice that I don't advise any debt for a holiday, but if one opts for debt, surely the aim is the cheapest borrowing possible, all other things being equal.

happy35

what about booking a camping barn or even the tippee(sp) that seem to be popping up everywhere, these cost about £30ish a night so you could probably save enough for a 4 maybe 5 night break during the holidays.

Will be similar to carvanning but a lot cheaper and husband will still get a break for the best part of a week, if you time it right and overlap the 2 weeks he has off ie Thursday to Tuesday will seem longer.

You can then save for next year and book early paying off your £50 a month

We have saved and are going abroad this year in August but I feel like I need a break so will be looking at the camping barn idea myself, work colleagues have done this and love it

minimoneysaver

Another idea to throw a spanner into the works.... how about a child free holiday if you have someone to leave the children with? Gives grandparents etc time with the children and gives you and OH time alone to properly relax. You'll be able to get a fab break for the two of you without breaking the bank.