Debt, but "want" a holiday.

harrys_dad

You are lucky enough for now to be in a position where you can pay down your debts and still consider two continental holidays in one year. Many on this board will be slightly envious. One question though, how secure is your financial situation?

None of us know what is round the corner, whether it be redundancy, long term illness, the boiler blowing up or whatever. Why not use your current improved financial situation to pay down your debts quicker and start to save for the future.

I suspect that "wanting to enjoy myself before I get old" is what got you into debt in the first place. You know that taking the second holiday is self indulgent and risky, otherwise you would not have asked for opinions on here. Silt some of the money away for a rainy day, or even a holiday in the future that you will enjoy more knowing you can go without risking your financial future.

Oh, and by the way, life can be enjoyable even when you are older. I am 62 and never been happier, and go abroad when I want because I planned for my future when I was financially stable when younger, and made sure I lived within my means.

[Deleted User]

Thanks for the reply. I can't say it's secure because of the industry that I work in, however I don't think I will ever be secure at work these days. Having said that I have been thinking can you put things on hold until you retire because you are scared that your job may go due to a number of reasons. Unsure, thanks again though you do make some nice points.

Funky_Bold_Ribena

Surely it's being in debt that causes the stress that you need to spend money to get away from?

[Deleted User]

Funky_Bold_Ribena wrote: »

Surely it's being in debt that causes the stress that you need to spend money to get away from?

Yes, but I can't see your point there. Are you saying yes go for it, or no it will get worse :eek:

flutterbyuk25

Looking at your signature, the cost of the holiday you want equals almost exactly the amount you owe on your Halifax card. So if you paid that off rather than went on holiday that's a huge mental step (getting rid of one debt) .

[Deleted User]

pc1271 wrote: »

I say if your debt is all under control, at 0% and being rapidly paid off, then you can take a holiday without feeling guilty about it, as long as you're not getting more debt to do it.

I agree.

If you can take a holiday using your own money (rather than using borrowed money), then I think you can probably justify it.

Personally, I'm spending my money on paying toward my debts, and will only take a holiday, when I'm finally debt free.

Funky_Bold_Ribena

assj wrote: »

Yes, but I can't see your point there. Are you saying yes go for it, or no it will get worse :eek:

Wouldn't it be better to pay it all off and then treat yourself?

[Deleted User]

Thanks again, yes I see what you mean.

I think I'm going to wait to see what compensation I get from my accident, if it's high (i.e. 4K) then I will take the holiday money from that and use the remainder to pay down any debt I have left.

My debt has halved, but I have removed the original amounts now for some reason, I have also closed about 3 debt accounts down after paying them off :-)

Bella73

Personally I would either pay of some of your debt or put the £1200 towards my next car but that's just me, I leant the hard way and it wasn't pleasant, being totally debt free is the best feeling in the world.

I now only buy what I can afford without credit, so booking a second break with debt hanging over me would be a massive no in this house, however, we don't get forced int booking family breaks we don't want to attend either. You probably need to work on that bit too the answer is a simple no in future.

justjohn

book it for next year
1. give you time to clear even more debt
2. its something too look forward too.
3. its a compromise and frugal lol