Loan for Holiday??????

Niv

Gaz83 wrote: »

What a tube.

Sorry - what does this mean?

adindas

What you need to realize here is that people response/reply will not necessary what you want to hear.

This is a money saving expert forum.If people in this forum think it will just put other people into more trouble than some people might warn other people. If they are already aware about that than it is fine.

Lolla83 wrote: »

Wow. Just wow. I did not realise people on here could be so rude. That'll be the last time I ask a question.

For the record, it's very long and complicated why we would need £15k for this trip, which is not something I wanted to go into, I was just asking a basic question. Yes it does include more than one person, with illnesses, hence why it's coming to so much. Perhaps before being so rude you would all stop to consider that people's circumstances and what has happened to them might not be detailed in these posts (as it's really none of your business as not directly related to the question posed).

Please in future consider that A. You do not know what is going on in people's lives, if you did know you wouldn't be saying things as above; B. Alas there is no need to be rude; and C. Insulting my intelligence because you are too ignorant to consider other people's personal circumstances? Don't even bother.

I really shouldn't even have to justify my question but for your information, it was actually someone who works for a bank that suggested to me about giving a "more important" reason for getting the loan...which did make me feel uneasy which is why I wanted to check here, because I thought you were all nice people and could give me a little advice. I am mistaken.

'Keyboard Warriors' is a phrase that comes to mind! Please think about people's feelings before hitting 'Submit Reply'.

DCFC79

I wouldnt say the replies were rude but honest replies yes.

BrassicWoman

Gaz83 wrote: »

What a tube.

there's a good 80s phrase!

BrassicWoman

If I had a terminal illness, I'd want people to spend time with me. I wouldn't want to leave then in hock to 15k after I were gone. That would give me no comfort at all in my final days.

MABLE

Never a good idea to borrow money for holidays. A friend of mine borrowed £1,000 to go to Spain. They put the debt on the mortgage and are still paying for it. You may say they have fond memories of the their time in Spain. Unfortunately they got food poisoning and were confide to their hotel for the duration of their stay.

Apples2

Let's look at it from another angle...as a Graduate and all...

How much do you save each month?
In other words, how much can you afford to repay each and every month for how many years?

It isn't about the loan, it's about the burden of debt you will be under for many years to come.

Thrugelmir

Doesn't require money to be spent to have memories. The simplest things are life are the most enjoyable and rewarding.

MABLE

Thrugelmir wrote: »

Doesn't require money to be spent to have memories. The simplest things are life are the most enjoyable and rewarding.

Never truer words spoken!:)

hugheskevi

Personally if finances support such a plan (ie if the debt can be easily serviced) I don't think it is necessarily a silly idea, to put forward a contrarian viewpoint.

I spent about 3 and a half years travelling in my 20s, and they were by far the best years of my life. That was financed from a combination of inheritance and saving rather than borrowing but the end result is rather similar - ultimately one ends up working a few more years at the end of a career than would otherwise have been worked.

I view my travel years as shifting around retirement - trading a few years of not working at the end of my career for a few years not working at the start of my career. Obviously it isn't a 1:1 trade, indeed, the cost is quite prohibitive over a lifetime due to compounding, but then all good things come at a cost and it is a question of what you value.

I found that (about 10 years ago) I spent about £20,000 per year of travel, covering everything (far cheaper if you stay in one place, that is based on constantly moving around). Taking into account inflation and a weaker pound I'd expect that to be more like £30,000 today. So the sort of money mentioned doesn't sound unreasonable for a major trip.

Everything above is only true if the cost can be fairly easily afforded of course. Personally I would feel a lot more confident as a graduate if I had a job and could earn money for the trip first and then go travelling, but many careers might not permit that sort of flexibility without sacrificing a lot of progress. Too many of my friends went straight from university into the rat race and missed out on a whole lot of living in-between.