Do you have holidays if in debt?

HonmaDP

Why limit this discussion to holidays?

Surely it’s “Do you make any expensive purchases when you have debts?”

Sunshine_girl2

For me , I have just taken my first holiday in 13 years that was fully paid for before I went . Spends as well , I thoroughly enjoyed the time away and knowing it was paid for was brilliant . Yes I still have credit card debt but am well on the way to being debt free . All my holidays now will be paid for.before I go .

Finchy2018

No longer in debt and this year is the first year in 5 years that we are going on an actual holiday and not just having a week at home. 3 weeks abroad and I can't wait but never ever would I have considered it being in debt. I still struggle to justify things like haircuts.

System

I'm always in debt for something - however I use debt to my advantage. 0% on furniture for example, car loan or lease. If it's debt that you are struggling with, then no, holidays would not be a priority.

Fiona_CW

Struggling to pay for my holiday last year (booked in April, had to be paid in full by July) was my light bulb moment last year. I ended up selling a bicycle to pay for it. Holiday was in October. I had a major clear out and sold lots of things on ebay in September to cover spending money. This year I am not having a proper holiday as would mean more debt.

Potbellypig

I'm in the 'as long as it's part of your budget' camp. Don't think it's advisable adding to your debt with a holiday, but I have no issue with budgeting for it.

But I guess it's dependent on how hard you want to tackle your debt. A holiday, big or small, is an expense you don't 'have' to have.

ditty1234

I see holidays as a luxury, so no I would not have a holiday whilst getting out of debt or building my emergency fund.

I don’t have big holidays now as I am trying to overpay my mortgage, just cheap city breaks (think Ryanair and Ibis Budget)

Sorry a city break is a holiday! To me anyways.
So I think it all depends on your budget/and hoe many people you have to provide for.
This year I have stopped all breaks and holidays and hoping family will come and see me - but then there is days out - I do think it is extremely important to get out of the county for a day or two every few month and either go to town, mountains or the beach. But it is only really enjoyable if it is within budget. Went on cc holiday last year and it was a mistake that I am still paying for.

EssexHebridean

I'm going to agree that it entirely depends on the budget allowing for it. I also think that to a degree it depends on your family set-up too - to a lot of us a holiday is a pure luxury but to someone with a couple of children who they work full time to earn money to look after, meaning they see precious little of them during an average week, it may become something far more valuable in real terms.

If the budget allows for a small monthly saving for a holiday, even while paying debt down and particularly if that payment plan is a long term one, and the holiday can then be afforded from within that very small budgeted amount (I'm thinking camping in a tent, rather than staying in a hotel here) then it can provide a "break from the norm" that can be hugely beneficial to refresh people's approach to their finances when they come back.

As an aside to this I'll also say that I firmly believe that holidays are something that should NEVER be borrowed to pay for - if you have the disposable income to go away brilliant, but hearing about families putting a trip to Disneyland on the credit card, or getting a loan to pay for it just makes me curl up and die inside slightly every time.

And yes to the person that says a city break is a holiday as well - it certainly is, particularly if it's outside the UK!

EssexHebridean

andydownes123 wrote: »

I'm always in debt for something - however I use debt to my advantage. 0% on furniture for example, car loan or lease. If it's debt that you are struggling with, then no, holidays would not be a priority.

This is another interesting question. I've currently got £4k on a 0% card from when we bought the (needed) replacement car a few months ago - BUT the money to clear that if needed was saved up ahead of time, is sitting in savings and could be sent across to bring the card balance to zero in an instant if required. On that basis I don't see it as debt, in the pure sense. (And in the instance of either of our jobs looking at all dodgy clearing that card balance would be the first thing to happen).

I'd suggest that 0% deals etc is only to someone's advantage so long as the money is sitting there earning interest for them. Curious to know what other MSE'ers think on this one though?

On_a_Shoestring

Holidays are definitely a luxury but a luxury that I, personally, prioritise. I would rather not buy new clothes, not go out to eat, not have takeaways, not get haircuts, not go to shows/gigs/events, so that I can save the money and go away for a few days. It's important for my mental health, important for my work-life balance and important for my relationships.

I have debt but would rather take a little while longer to pay them back at a manageable pace, so that I can enjoy some holidays. My debts are all 0% though, and my outlook may be different if they were interest bearing!