To book a holiday even though we're in debt?

[HalalPork]

We haven't been away at all this year or last year. The year before our lovely ILs took us away for the week (not abroad).

We've had a really tough time over the past couple of years, illness, job loss, general stresses. We've never done a foreign beach type holiday.

From a quick browse it looks as though we could book a villa with a pool for next year for a couple of grand. This amounts to four months roughly of credit card repayments at the current rate we're clearing it (all 0%).

Would this be mental? I'd like to give the kids the experience before they're too old to want to come with us (teenagers already).

We're not on the bones of our arse, Dh earns good money and all the bills etc are paid before we look at repayments, and we do still have some fun money, we're not sacrificing ourselves at the altar of debt.

Would it be madness at this point to stick another £2k or so on the credit card?

How much debt do you already have?

I was going to say no, but a couple of grand - equating to 4 months payments - seems a lot. I think I'd do a cheaper holiday... it does depend how much debt there is, though.

How much do you owe already?
I think you'd be mad to add £2-3k including spending money into an existing debt that costs you £500 a month to service.

It depends on how great the debt is, really... Having to skip four months repayments suggests it's not exactly at the managable stage yet.

If you saved for the 4 months and then paid it outright though you wouldn't have to use the card? Or am I missing something?

There's about £15k spread across a couple of long 0% cards.

It's high but not unmanageable.

We wouldn't be skipping payments to pay for it, I'd use the credit card to pay for it and just be extending how long it takes to pay back.

I think you just need to look at it realistically. Also think about how you will feel on holiday, will you feel guilty? Would you rather save up and go on an amazing holiday when you're all paid off?

It would be better to save it and then buy it. Old fashioned I know, but I've been there and done that etc.

You can go abroad for way cheaper than a couple of grand. Spain, Croatia or Bulgaria are great cheap spots for a beach holiday and if you shop around on the Internet you could go away for a few hundred.

You already have fifteen grand on credit cards and you want to stick a holiday on too? . You must be mad...
How on earth is that amount of debt interest free?

Do it life's too short to miss out on kids memories as you say you have a short window of opportunity ... You're talking about extending the amount of time you're in debt by 16 weeks that's all. Memories of the hokiday will last a lifetime

We won't have paid it all back for another two and a bit years. Ds1 will be 18 by then and will never have had a holiday abroad with us. That just makes me a bit sad.

But why spend 2 grand? You can go abroad for half that and still have a great time.

15k of debt has me boggling though - that's loads!

£15k on interest free cards? Sign me up!

I wouldn't add to that but I understand the temptation. A villa holiday won't be cheap when you add on all the travel etc. Can't you save up until Christmas or so and then book something a bit cheaper?

You know this isn't the financially responsible thing to do, or you wouldn't be asking. I never had a holiday abroad with my parents and it didn't scar me!

FloggingMolly, easily. We have one card with a 20k limit and several with £5-£10k (only one with a balance). All with readily available 0% offers.

There's about £15k spread across a couple of long 0% cards

I think that's quite a lot, sorry. If you or dh lost your job tomorrow it would strangle you. Maybe try and save for the holiday and put the deposit on the cc.

Definite no from me until you've paid off the debt you've already got. Have a cheaper holiday instead- our week in a cottage in Wales was £200- you don't have to spend thousands to have a holiday!

Yeah, sorry, it seems unwise to me. You have 30 months to repay? I would think about planning stuff for after that, I'm afraid. You are making repayments now, but if your DH should lose his job or become unable to work, things could go wrong... Holidays abroad aren't the only way to make memories with your kids. Could you do day trips to the British coast or similar?

Yes, it would be madness. Is there any possibility of either or you taking on some extra hours?

You're not wrong... But why didn't you go before? Presumably cos you couldn't afford it? And you are still in debt. So why make debts greater? What would you do if you lost your jobs?

If Dh lost his job he's got a six month notice period and is very employable. Tbh if he lost his job and couldn't find a new one we'd lose everything anyway, debts or not.

Remember you need to add flights, insurance, transfers, all food and drink, outings etc to the cost of the villa.

Yes it's mad. You don't need your own private villa with a private pool for a lovely holiday in the sun. You could go to my favourite place in the world (the Matina in Pefkos) in Greece for 2 weeks of sun at a much much lower price.

Cut your coat to suit your cloth.

I wouldn't personally, but I am terrified of being in debt.