Going on holiday when you're a DFW?

Tommy81 · 18 April 2014 at 9:21PM

Hi all

Just wondered how many of you factor in a holiday to your budgets whilst paying off debts?

Some may disagree but we have agreed to include this in our budget on the following conditions-
A) it doesn't add to our debts

it doesn't affect our debt repayments

I'd be interested to know if others still plan a holiday whilst on a debt
Free journey?

Determined_diva · 18 April 2014 at 10:00PM

Hi Tommy

I do as that is something hard to give up but I have made the followng changes that I can go, but on the following condiditons:

- If I have paid off my target amount that I set myself when I book it.. if not I cannot go! This year as I am going in June and I plan to pay off my whole debt this year..this means approx £5k to be paid off debt by the time I go on holiday. I currently have paid off £2,441.70 with the majority of my dental bill paid off in addition to this so now I can use that to pay off the debt (my dental bill was £2k! And I paid £916 last month off it)

- The holiday has to be no more than £500 and this is to include spending money

- On the holiday I try to reflect on what I have achieved and what my holidays could be like if I am out of debt

- No spending on clothes for the holiday - I have to make do with what I have.

So this year I have booked a holiday abroad in a 3* hotel for under £400 all inclusive. Looking forward to recharging my batteries and re focussing and plnning how I am going to tackle the debt in the 2nd half of the year.

DDx

financialdisease · 18 April 2014 at 10:02PM

If you are on a dmp and meeting the proposed payments on time with no hurry to clear the debt then I don't see the problem with putting enough into a saving account to pay for a holiday without risk of further borrowing when you feel like you need a holiday. Others may see being debt clear quickly more important than a holiday its quite clear from the forum that everyone has a different view on what's right when it comes to money as long as you do what works for you without getting into trouble then go with it.

Alice_in_Welfareland · 18 April 2014 at 10:09PM

financialdisease wrote: »

If you are on a dmp and meeting the proposed payments on time with no hurry to clear the debt then I don't see the problem with putting enough into a saving account to pay for a holiday without risk of further borrowing when you feel like you need a holiday. Others may see being debt clear quickly more important than a holiday its quite clear from the forum that everyone has a different view on what's right when it comes to money as long as you do what works for you without getting into trouble then go with it.

I do not believe you have the full understanding of a DMP. If the debts needs an arrangement to make the payments my opinion is that holidays are for after debt is completed.

financialdisease · 18 April 2014 at 10:14PM

Alice_in_Welfareland wrote: »

I do not believe you have the full understanding of a DMP. If the debts needs an arrangement to make the payments my opinion is that holidays are for after debt is completed.

you are possibly right debt is very new to me (I only first faced with it last Friday involuntarily) I was thinking along the lines of life must go on while these things are dealt with and if the person feels desperate for a holiday there maybe the temptation to borrow more to fund a holiday so saving for it would be the better option and some budgets seem to encourage savings whilst paying back debts.

Alice_in_Welfareland · 18 April 2014 at 10:23PM

financialdisease wrote: »

you are possibly right debt is very new to me (I only first faced with it last Friday involuntarily) I was thinking along the lines of life must go on while these things are dealt with and if the person feels desperate for a holiday there maybe the temptation to borrow more to fund a holiday so saving for it would be the better option and some budgets seem to encourage savings whilst paying back debts.

A DMP provider asks for the income and expenditure or the detail of all you must need to live. The mortgage, the council tax, the gas, the electric, the water, the travel expense, the food and everything else you need. Not what you are wanting just what you need. The remainder of the money you are earning goes toward the debts. That is the way it is done and I do not believe the allowance for the holiday would be allowed. It may have made a change from when the time I started a DMP and some person may correct my thinking.

Standingtall · 18 April 2014 at 10:34PM

Alice_in_Welfareland wrote: »

I do not believe you have the full understanding of a DMP. If the debts needs an arrangement to make the payments my opinion is that holidays are for after debt is completed.

I had a holiday whilst on my DMP, 17 years would have been a long time otherwise!

Murphy2011 · 18 April 2014 at 10:46PM

My OH & I are having our 1st holiday in 7 years and we are 2 years into our DMP. It is a week self catering in Greece for the princely sum of £150 each so I think we can hopefully justify it! My OH is doing 70 hour weeks at work and I think he deserves a week away from it all in the sun....my humble opinion.

antonia86 · 18 April 2014 at 11:07PM

We just had a break away, it meant we couldn't over pay on our debts this month. However it did mean I could take my daughter on an airplane for the first time and that I got to see my bestie (she lives abroad and we stayed with her). From my perspective £160 on flights and that £250 spends isn't bad and was well appreciated.

In honesty the break has made me even keener to become DF as then I can do it more often!

Giraffeseeker · 18 April 2014 at 11:19PM

I think if you are on a DMP and make sacrifices within your budget allowances to afford a holiday then that is fine. For example, smokers get an allowance, as do pet owners. They are luxuries. If a non smoker decides to use the allowance for a holiday, or someone eats beans on toast for a year so they can go away, that is up to them.

Also you need to factor in children. Why should they suffer because of parents mistakes? Mine will be at Uni by the time my DMP is done and I hate that they would miss out on family holidays in their teenage years. I teach and take on exam marking to earn holiday money. This year I am doing double so we can have a cheap package holiday overseas in October instead of a uk holiday. It is really hard work but I want to do this for the kids. Last year we camped but got a £99 ferry to Belgium to make it more interesting. Next year we'll probably do camping again so I can maybe save for something better the summer before my eldest goes to Uni the following year.

As a teacher and a single mum my kids make lots of sacrifices with me working evenings and in holidays and being busy and stressed, I think a holiday as a family is really important.

in_need_of_direction · 19 April 2014 at 7:40AM

I don't think there can be a hard and fast rule here. I think it's all a question of balance. So long as obligations are met, a holiday can be a way of keeping motivation high so, to my mind, is a worthwhile spend. If however it's a burden that could put further pressure on, it's not worth it so why put yourself through it. Everyone needs happy times but each of us know what these are for us.