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?

Ouch, no way. Ditch the debt first.

No. I would certainly plan a trip abroad but you can do it for far less than that.

That amount of debt would worry me and I would be loath to add to it

Pick a cheap package holiday or rent a gite in France
You could do those for £1K max instead.

AIBU: Every Poster Yes
OP: but its not much debt

Repeat

For me, I think it depends on how you got to the point of owing that 15k, and how strict youre being with paying it off. How much has it decreased by since you started paying it off, and when did you start?

If it was "unforseen emergency" or even "a large planned spend of an extension/kitchen" and youve never put anything else on these 0% cards, then adding a one-off extra of 2k doesnt sound too bad.

If its more "it just kind of crept on" and realistically theres been a number of "but I want x thing, we'll just pop it on the credit card" meaning that the total owed hasnt really dropped that much, then I'd try and avoid adding any more to it as if you ever find the 0% has ended with no new deal to move it onto, you'll be screwed.

In my experience a young adult child (ie. 18-21) is more likely to want to go on a nice holiday (and appreciate it) than a teenager. Mainly as they've lived by themselves on a budget for a whole and would love the treat.
So that argument holds little weight.

My best friend and my mother both have this kind of attitude - they've worked so hard being spend thrifty that they deserve a treat - and then spend a lot of money.
They are both in their 40s and have a huge amount of debt.

£15k is a horrific amount of debt. Clear it and then save for big spends on frivolous things.

That level of debt is not horrendous and you're paying it off so I say do it. Your DH is employed and highly employed, in case he gets laid off, and you're right - if your DS will be 18 in two years' time he won't want to go on holiday with you any more - he'll want to go with his mates. Maybe I'm cavalier, but I think you do things, if you can. Life is short, time is precious, you're paying off your debts, so if you can cope with the additional debt and will still enjoy your holiday, go for it. You only live once and personally I find it easier to live with the things I have done, rather than the regrets I have for the things I haven't.

You obviously really want to go op. So just do it if you don't think being in debt is am issue fair enough. I'm debt free after missing a few years of holidays but to be honest its down to what you feel comfortable with. I'm terrified of debt because when I had it we missed out on travel and things.

I had a hypomanic episode lasting a few months. I bought furniture, TVs, a puppy, decorated the house, drank my own body weight in nice wines and bought shoes and dresses and things.

My illness is now under control and things are in place to minimise damage if it happens again. But it wasn't just chronic overspending.

We've paid off about 5k in the last year or so. If the worst happened or we couldn't get another 0% deal then we can borrow from parents over the long term. Not ideal but the safety net is there.

*employable

I'd never waste money on a holiday if I needed something done in the house, or was in debt. Total waste of money.

The debt being less than 25% of income is a bit of a red herring, really.

The fact that you've managed to accumulate it in the first place, and are now looking at 2.5 years to pay it back despite your DH being on "good money" (a very relative term) is all that's actually relevant.

You've either been living way beyond your means by necessity for quite some time, and / or have real difficulty managing your finances.
And this is with never having even had a holiday?

YANBU, these are memories you are creating and 2k is amazing value for villa AND flights, wow.
Clearly I am looking in wrong places, we just spent 5k on a villa without flights...! It did sleep 10 which is a different ball game.

I would never ever do this if I owed money.
But lots of people nowadays live like this so its up to you

What does you oh think of the idea?

Have you posted about the debt before? This now sounds familiar.

Most people have 15k in car loans or home reno loans? No OP, we really don't!

Where are you getting a villa with private pool, flights and transfers/car hire for 5 for 2k? Is that for a week? July/August?

I live in a tourist village in the Algarve and a villa could cost that on its own

All right, not most people. But lots of people. Plenty of people I know.

Christ i could not plunge my famy in to more debt if I was the reason we were in debt in the first place

It wouldn't be me plunging us into more debt, it would be a whole family decision.

Dh might yet veto the whole thing so the thread would be moot anyway.

Not all apartments with a shared pool are grotty! Mine's bloody lovely, the pool is never over crowded. Cheap as chips too.

Sorry about your illness, op, and it's good that you say it's under control.

But why do you think spending £2k you don't have on a holiday is actually any different at all to spending it on cases of fine wine or new furniture?

Is your DH aware that you're contemplating increasing the debt still further?

WOW! It is madness. We've not been on holiday ANYWHERE for 7 years. We are going through a hard time and a nice wee holiday anywhere would be lovely. BUT..........Last thing I'd want to do in our situation is spend money we don't have. Maybe I'm just old fashioned. Save up for a holiday. You'll enjoy it more.

Get out of debt first. Sell some of the stuff you wasted money on. My adult stepchildren were still happy coming on holiday with me and my ex when they were in their twenties. And they had money of their own then so it wasn't as expensive.

I never had a foreign villa holiday with my parents. It really didn't scar me emotionally.

Honestly, OP, if your reason for going in debt was a pathological failure to prioritise (not meant judgmentally), are you sure that it's a good idea to add on "just another £2k holiday"? As others have pointed out, it's possible to have much cheaper breaks than this. And are you sure you're not convincing yourself that you are "allowed" this in the way that many people who are addicted to spending or gambling will tell themselves they should be "allowed" one purchase or flutter? It seems like a bad idea I'm afraid. Are you receiving counselling?

No, it wouldn't be a whole family decision . Your kids do not have a say in the family incurring yet more debt, and you'd be most unwise to place that sort of burden on them.