To pay for holiday on a credit card if I can’t afford it ?

[Pinkpantslady]

Husband and I have not been on holiday since we we met four years ago .

We saved to get married , buy a house . We now have a little baby and my maternity leave finishes In June . I am a teacher . As a teacher I am only able to go on holiday during school holidays which costs a fortune.

If we go on holiday before I return to work ( In term time ) - I can’t belive that we can go on - a decent , all inclusive for about 650pp .

The issue is that we only have £500 in our holiday fund . But £650 x2 = 1,300 to go on a holiday. So do I pay the rest (£800) on the credit card ?

I don’t ever use my credit card and have always believed - if you can’t pay cash you can’t afford it .

But there is a part of me that feels life is too short . Life has been hard for all lately . We haven’t been away In 4 years - no honey moon . This is our chance to get away whilst prices are lower .
If we don’t go away before I return to work , the same holiday would cost us about £2,500 and we could never afford that.

We would pay off the £800 as £100 a month for 8 months .

What do you think?

AIBU to pay for the £800 on a cc?

Side note - I have looked into butlins , centreParks , Hoseasons and I can’t belive how expensive staycations are . Even a little break or a few days trips are so expensive. I’d
Rather just use that towards one amazing holiday!

Yep, go for it, ideally on a 0% or very low interest deal, rather than standard credit card interest rates. It will take more than 8 months to pay back 800 on a standard credit card.

I don’t see the harm in this situation.

You’ve thought it through, and it’s a considered decision.
I’m someone who probably won’t be able to go on holiday for the foreseeable (caring responsibilities) so I say go and have a lovely time.

Yes, life is too short.

Do it. You can have a very meagre holiday for £500 or a lovely one for £1300, which is a no-brained to me. If you were in debt or regularly 'treating yourself' on a credit card I'd say something different, but it sounds as if you have a sensible approach to spending and credit, have lived within your means and frugally fir four years, and have a clear repayment plan. The only thing I wondered was whether repaying £100 pm over the next 8 months might mean putting next years holiday on a card too? That's a bit of a vicious cycle.

How about booking somewhere sunny in the October half term holidays? It won't be as expensive as going in the summer and you'll have time to build up your holiday fund.

Have a look at topping up your savings pot by selling old stuff, toys, baby clothes/ equipment etc. Look at reducing luxuries, swapping subscriptions etc to save money. Think about different ways of generating additional income rather than just relying on credit.

I've just started a remote admin job paying £12 pH for 14 hrs a week, I can do it in between the school run. It's a bit of extra money for the school holidays.

I'm going against the grain here! When you go back to work will you have childcare @Pinkpantslady?
What other expenses will you have?
Do you have other savings?
What happens if the car breaks down etc etc?
I think tying yourself into 100 per month is a stupid idea for a holiday if it also means draining all of your savings!
Everything is increasing right now so. I wouldn't do it unless I had an ample emergency savings pot etc etc

I always book my holidays this way. Book on credit card early when it's cheaper and have it all paid off by the time we go away. I don't put anything else on credit card ever but this makes sense, you can comfortably afford the repayments and have extra protection from using the credit card.

Get an interest free card,go on your holiday and have a lovely time.

Working term time only sucks.

In the situation you describe I would not hesitate. (And I am so debt averse my only credit card is locked in our home safe for emergency use only! )

I am firmly against using credit as I know so many people to have suffered as a result. You can't afford this right now and it means you don't have enough float to cover you if something expensive happens.

I don't see a problem using credit if you have the ability to do the monthly payments.

Just do it. Life is too short, it’s not a massive amount and you have a plan on how to pay it back

Yes in your circumstances I would do it, last time you’ll get for a cheap holiday!

Normally I would say no but this year yes absolutely! Also once you ve paid transfer to an I interest free card!

Yep, that’s sensible borrowing.

It’s an investment in your mental and physical health.

Try snd get a 0 percent card, and preset it to pay a fixed amount every month.

Agree with everyone else.
Even when were able to afford an expensive holiday we booked on a CC because we booked a year ahead and we worried about the possibility of the travel company going into administration. It didn't but we didn't go anyway because of covid!

Look for a 0% offer, work out how you're going to pay it back before interest kicks and commit yourselves to paying £x p/m and book the holiday!

As a teacher this is a rare chance you will benefit from a term time holiday price too. The saving would make it worth it to me.

If you’ve worked out a repayment plan and can afford to stick to it then I’d do it in a heartbeat. Make sure your credit card is interest free on purchases

I am very careful with money generally speaking but I have learned that life is short and full of hardship

Go and have a nice time as long as it won’t be making life loads harder when you’re home just go and enjoy your young family

The future is so uncertain at the min, enjoy now!

Absolutely. Firstly if the prices later mean you'll never go again for years, you'll kick yourself if you don't go. Get another credit card though so that you can shift the debt into a 0% fee one. Then it doesn't matter if you don't manage to pay it off too quickly (deals are usually for a year or something).

If you have no debt then it's not like you are being irresponsible. If you know you can pay it back. Also- you'll be surprised how many people live on debt. Those fancy cars they drive? Not theirs. New kitchen? On credit. It always amazes my DH how everyone affords everything because he assumes they just paid for it! When most do not. He's never had debt either. We've had clapped out cars (but paid for) and paid for everything we've needed. However the honeymoon did go on credit card! (Paid off now). Sometimes you have to treat yourself but you'll be surprised how many people actually put their holidays on credit card all the time. Enjoy your holiday!

I read the title thinking I was going to sag YABU but reading the detail I changed my mind. Go on holiday and have an amazing time x

I wouldn’t. I don’t really get the holiday obsession thing - when I was a child, my family went on the grand total of 1 holiday (to Spain) in 17 years. We didn’t feel deprived in that regard at all.

These days people seem to feel like it’s a terrible hardship not to be able to go on holiday, but I don’t think it is really. If you can afford it, great. But there’s so many other things I would spend money on first (like a decent house, etc.) and I certainly wouldn’t get into debt for it.

Do you have any other savings you could borrow from then replace? If £500 are your total savings then I would look for a cheaper holiday.

Do it OP. It’s not a lot of money and once you’re back at work you’ll have more money coming in.

You may also only need to pay a deposit now reducing the amount on the card anyway. Book it on your card regardless as you get much better protection.

I would! Credit card usage isn’t inherently bad as long as you have a plan to pay it off. People get into a mess when they rack up debts they have no hope of clearing but it’s totally fine to use them if you know you will be able to make sensible repayments.

As a teacher you have a stable income and you have worked out and affordable rate of repayment - that’s exactly what they are for.

Go and have a great holiday 😊