Going on holiday when you're a DFW?

Kate_fixing_it

We've not had a holiday as such ever so we're not missing out. We do, however, have weekends away staying with friends and days out - I'm talking children's farms and kid's cinema screenings not Harry Potter World or Alton Towers that could easily run to £200 just for entry fees! :eek:

This is the first time I'm planning a "holiday". There are 6 of us and even the 5 year old gets a say. They have settled on a trip to London to see the Queen (after reading the BFG) and to see the dinosaurs at the natural history museum. It'll cost transport and food, both of which can be done cheaply and for under £100 with some planning.

Our circumstances changed dramatically two months ago so I am now using the fantastic services of step change. In my situation I can't agree to a big holiday whilst paying less than the minimums to my debts. I'm lucky to be receiving a small bonus in July. Not enough to make a noticeable difference to the debt but enough to cover this and give us a small emergency fund. It's something I discussed with step change (and on the DMP support thread) and I believe this is the way forward for us.

As others have said, we all have different needs and perspectives but for me the thought of that day out is keeping me going through the darker days and by putting some thought into it now (we won't be going until August) I can make sure one day out is just as fulfilling as a one or two week break that'd cost ten times as much.

Kate x

[Deleted User]

National_Debtline wrote: »

By the way, it's important to note that we typically help those that cannot meet their minimum contractual instalments. If someone can meet their minimums it would be completely up to them what they use the rest of their disposable income for.

That's my opinion, as stated in my earlier post.

However, me personally, although I've always managed to meet the minimum contractual instalments (though sometimes it's been awfully close ), I haven't had a proper holiday in a great many years.

Tommy81

getmore4less wrote: »

The OP is not on a DMP, they are on a two year journey to pay off their £30k debts.

After all the regular spends, mortgage and the 2 year debt payment plan their base SOA has around £700pm free for other stuff.

Although the SOA has not gone through the spending diary test yet to see how realistic it is.

With a tighter budget and throwing more at the debt it could be gone in potentially less than 15 months but that could be tight, 18 month would be more realistic with £400pm spare on the SOA to give an emergency fund buffer and get through the spending diary test period..

https://forums.moneysavingexpert.com/discussion/4943895

Hi Thanks for post


you're right. We are not on a DMP - we are simply overpaying and trying to clear everything within 2 years. We always meet our contractual minimums and we are able to overpay quite significantly and still have a bit of surplus. I feel very fortunate that we had our LBM before we were in a worse situation.

Moneymash

The problem for me is, holidays are meant to be relaxing. There is no way I could relax knowing the money I spent on my holiday could have been used to pay my debt down, and take me closer to financial freedom. I'll relax when I've paid off my debt.

Pschool1

are you going on holiday alone?

Tommy81

Pschool1 wrote: »

are you going on holiday alone?

No, I will be going with My wife and son. Other family members are going too although obviously I won't be paying for them

Wee_Pilsbury

Hi Tommy81

I've had holidays when paying off debt and even though I made sure the holidays didn't add to the debt, I always had a nagging feeling at the back of my mind that the money could have been better spent. I can't say that it spoiled the holidays completely but it did have an impact.

Looking down the old retrospectoscope, I would have foregone the holidays and paid the debts off sooner.

solvencyseeker

Just thought I should add, if you work in a school and have to take your leave in the school holidays (as I do), or if you have school age children and have to stick to school dates, then the cost of holidays soars (more than double the cost if you can go in term time).

Holidays are not a basic need. If you have spare money then you can choose to have a holiday or pay off debts quicker.

We want to pay off as much as possible as quickly as we can - but the idea of a week in the sun is quite tempting

I think it will remain a dream for the next year or so at least.