Debt, but "want" a holiday.

theoretica

You seem to be falling into the trap of mentally spending your money more than once. [This is very familiar to me!] You have £400 a month after living expenses (is this every month including Christmas?) and you want to spend this on a) getting out of debt, b) holidays c) new cars and d) new home. You need to decide what order you will tackle these and how much you will put to each one because honestly £400 a month won't stretch to all of these in the short to medium term.

Takeaway_Addict

Mozette wrote: »

It seems to me that you've already decided but you are hoping for people to make you feel better about it. It's up to you, but I would pay off some debt every time.

I was going to say exactly the same.

The op is going to go and wants justification on doing it.

ifstar

You already are going on holiday but you are approaching it with such a negative attitude that you have already decided that you aren't going to enjoy it. Why not just try and look forward to it and you never know, you might actually enjoy it. You can go and have a few days where it is just you and your partner/children, I'm sure your extended family won't mind.

You are over £6k in debt, yes it might be on 0% interest but that won't last forever and by paying for your second holiday in cash, then you will be not paying your debts so the 0% rate might finish.

As for people saying just book it for next year, why bother as that is a commitment made and circumstances change. You won't save any drastic amounts by booking now.

LannieDuck

assj wrote: »

Well I just wanted some opinion really.

I am in debt - see below, but it's all now at 0% and going down fast.

I have some savings but I'm using that to clear my partners hire purchase and then I'm saving again for my own "new/old" car.

Anyway, we go to Portugal next month for 7 days, we have had to pay £500 for flights and will need a further £500 spending money. - Not really wanting to go but it's a family arranged trip that we got caught up in !!! :cool:

SO, I was thinking of booking us a holiday for October 13, in Tunisia, have been before and liked it lots. Found something for nearly £1200. But seems a lot and I can't decide.

I work hard, very hard and we all get stressed, we don't really have anything ourselves and have two small children.

What do people think? Should we enjoy as well as making savings, keeping a really good balance. I know this would mean 2 holidays in 1 year!!! Ekkk never thought I'd say that :rotfl:

Undecided

No.
It's nice to be able to enjoy as well as paying off debts, but you already are! You're having a holiday this year. Plus you're allowing yourself a 'want' through your savings.

beth3735

OP i have been paying my debts off for nearly 7 yrs. And for the past 2 years we have been to Tenerife once each year while paying off debts ( shock horror! ) But 1st year was due to a nice pay out from PPI, 2nd was through husband bonus at work! Yes we could of paid this off the debts, BUT my children were young and you only get 1 chance when they are young to capture all these "1st" So we just bit the bullet and went. We are going away again this year too. I have wanted for years to take the kids to Florida, but that is just 1 dream that will 100% have to wait till once in debt free.

When it comes to 2 holidays we just couldn't justify that as it would of slowed down the debt free date even more.

I also agree with looking at booking for next year, paying the deposit then getting rid of debt before you pay the rest

FatVonD

assj wrote: »

Like the idea about the holiday within a holiday, however not sure if we can get away from them! Well we will see what we can do (Thank you).

Easy peasy, instead of online window shopping holidays to Tunisia look for some really boring archealogical(sp) site that nobody else will want to go to and announce you simply *must* visit it.

Better still, tell them an old workmate has a holiday home and has invited you to visit them in x town for a couple of days (the workmate will need ot become ill the minute you arrive, of course.)

Then get researching a nice place to stay (one star up from your original holiday, obviously) with a lovely pool and spa and start to get enthusiastic about your 'secret' holiday instead of the future one you can't afford

Barbeduk

theoretica wrote: »

You seem to be falling into the trap of mentally spending your money more than once. [This is very familiar to me!] You have £400 a month after living expenses (is this every month including Christmas?) and you want to spend this on a) getting out of debt, b) holidays c) new cars and d) new home. You need to decide what order you will tackle these and how much you will put to each one because honestly £400 a month won't stretch to all of these in the short to medium term.

Exactly. You want to buy 2 new (old) cars. How much will you need to budget for these? And a new house. How much would you have to save towards that? Unless you have a large amount you can save each month you may be being a bit optimistic. Try writing it all down, then you can decide if you really can afford the 2nd holiday.

And could I reassure you that life doesn't end when you get a bit older :rotfl::rotfl:

[Deleted User]

Thanks for replies.

Sorry it's hard for you to understand, because I haven't told the whole story.

I'm expecting 4K in April (well it's certain but I don't get it until then) That's the money for the 1 car.

I then have to buy another, maybe? But again I may stick with the arrangement that I have, however it costs me £200 per month.

The house, yes I have to save at least another 10K before I can do anything with that. :-(

yamsteroo

Oooh ...tricky one.

I can see where the OP is coming from in that she's managing her debts and is confident they will be paid off so the idea of just slowing down the repayment is tempting.

However, I can also see the other posters' point of view in that you never know what is around the corner - a sudden drop in income for whatever reason could meant the debt still being there when the 0% deals run out and that's when it all gets a bit sticky.

Personally, I can't wait for my DFD (12payments to go!) and would rather see those zero balances than have a holiday or a new sofa (and hell knows I NEED a new sofa!) but only you can really decide - the idea of booking for 2014 (when the dates become available) would be my choice as it gives you something to look forward to but not before you have paid off your cards.

Good luck!

[Deleted User]

I haven't had a proper holiday in over 10 years.

Only holiday I've had, was a week visiting family in Newcastle, back in 2008.

I'd love to have a proper holiday, and I will have one, but not till next year, when all my debts have been paid off, and I have saved enough, to pay for the whole holiday IN CASH.