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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

To put a dream holiday on a credit card - even though I can't afford it

181 replies

Notcool1984 · 26/04/2023 13:40

Would I be crazy?
Reeaaallly crappy year with health issues, family stuff, kid dramas.
I've always dreamed to go to a particular long haul destination.
I have around £2k saved, but realistically need around £2K more.
Would I be mad to put it on a credit card?
As background, I have no credit card or student load debt. I earn around £3k pre month, although single parent, but still £500 savings per month is doable, so it would take up to 6 months realistically to pay back.
Would you risk it?

OP posts:
RosieLemonadeAndSugar · 26/04/2023 15:06

As much as you will have good intentions to pay it back, it may spiral and if you use what you would usually save to pay it back and then you need something urgently ( home repairs etc ) then you will end up using that money and either missing a payment or not paying as much meaning it will take longer than 6 months.

I did this last year, only 2k, 12 months at 0%. Ended up having other outgoings which meant by the time the 0% was up, I still had 1.5k on it!

Had to borrow the money from a family member and vowed never to do it again.

Save, then go.

You'll enjoy it more that it wasnt on borrowed money.

Original poster
Notcool1984 · 26/04/2023 15:09

This is a good point - although I do have my can't touch emergency savings.

OP posts:
Tisfortired · 26/04/2023 15:09

I would do this, but then I am impulsive and not good with money 😂 if it weren’t for my DP I would have been all around the world by now courtesy of credit cards but luckily (or unluckily) for me he is very sensible.

I think in your shoes I would book it and pay in instalments. Perhaps put the deposit on the CC and save up money for spends rather than use the credit card for spends. If there were any months you could pay the instalments from your salary rather than the CC do that, damage limitation.

Oncetheystartschool · 26/04/2023 15:11

What interest rate is your credit card? Would it be cheaper to get a personal loan? Will the holiday price go up next year? Have you thought of all the extra costs like travel insurance, passports renewals, holiday clothes, outings while you're there etc?

Personally I wouldn't put it on a credit card unless it was 0% for 12 months to spread paying it off.

Original poster
Notcool1984 · 26/04/2023 15:14

Yeh it would be a 0% credit card, I was looking them up and think I would be able to get one for 18 months if I go for it.

OP posts:
bellsbuss · 26/04/2023 15:15

I would, hope you have a lovely time

SparklyBlackKitten · 26/04/2023 15:16

It just adds to your worries. More things to worry about for months vs fun for a little while

Go on a holiday you can afford. Skip going in debt for a holiday. Debt is the root of many bad things...

ChimChimeny · 26/04/2023 15:18

See if you can get a credit card which is 0% on purchases & also has cash back (Amex is one, we paid for our wedding venue with it) then use the cash back towards paying it off.
We would use this method but we're very strict with money & wouldn't let it spiral

HydrangeaFairy · 26/04/2023 15:29

Don't do it. Save £500 a month and book when you have saved.

WallaceinAnderland · 26/04/2023 15:31

Are you seeing cheap holidays because it's the rainy season or something? What month are you looking at?

Original poster
Notcool1984 · 26/04/2023 15:39

We are in Scotland so it's a bit cheaper because our holidays start last week in June.

OP posts:
FrenchandSaunders · 26/04/2023 15:43

Yep I would. Who knows what’s around the corner and sounds like you need it.

TwoFluffyDogsOnMyBed · 26/04/2023 15:45

I think it’s fine to use a credit card if you have a plan to pay it back. Isn’t that what credit cards are for?

It doesn’t sound like a huge risk and it isn’t a huge amount considering the amount of money you have left each month. You don’t need permission!

BatshitIsTheOnlyExplanation · 26/04/2023 15:48

Not what you asked, but the 'summer' (June, July, Aug) is quite wet in Thailand. It might make more sense to go over Christmas which will be cooler (but still hot) and drier and would give you time to save the money.

ChiefPearlClutcher · 26/04/2023 15:53

Don’t get into debt for a holiday.

Also - I think June is quite wet.

And imvho Thailand is massively overrated (sorry!) What would you like to do there? Are you going for beaches or forests?

Original poster
Notcool1984 · 26/04/2023 15:53

I went when I was backpacking many moons ago and loved it, always wanted to take the kids there.

OP posts:
FernGully43 · 26/04/2023 15:59

I wouldn't. It's a slippery slope

ChiefPearlClutcher · 26/04/2023 16:03

Gah the app just swallowed my long reply!!

I would do end April for forests and first week in May for beaches. The official rainy season starts beginning of May so resort prices drop massively and you might get lucky with the weather. Email them direct to ask after rates.

If you have to stick to UK term dates, go in December.

Still not a fan (at all, I think the for the most part the place is hugely overrated, seedy and the smiles all commercial fake friendly) but totally get your reason!

ShinyAppleDreamingOfTheSea · 26/04/2023 16:04

Personally I would go on a cheaper holiday. I think if you can afford it it's important to get away for a break but I hate the idea of going without and building everything up for a once in a lifetime thing which may disappoint for whatever reason .

Catspyjamas17 · 26/04/2023 16:04

I don't see why not, if you can afford the repayments in a relatively short space of time. There are plenty of 0% balance transfer offers and booking on a credit card usually gives you extra protection.

validnumber · 26/04/2023 16:07

It would be crazy.
Isn't there anywhere you would look forward to going to for 2k?
Is this literally the only place?

Mumtoabeast · 26/04/2023 16:09

We've just come back from Thailand, absolutely amazing, I'm in the 'do it' camp 🤣

Dracuuule · 26/04/2023 16:10

You only need 4 months more savings?
I'd do it. You'll pretty much have paid it off by August.

SchoolShenanigans · 26/04/2023 16:11

Personally I'd do it. £2000 isn't that much if you normally save £500 a month.

We've got a week in England for £1500 so I think £4k isn't bad for a long haul!

My only consideration is, are your kids the ideal age for that holiday? If not, I'd wait. If so, go and enjoy!

Kolakalia · 26/04/2023 16:16

I definitely wouldn't go until I'd saved up. Wouldn't be able to enjoy it knowing that I had gone into debt to pay for it.

Things we've had to spend on this past few months that were unavoidable:

  • new pair of glasses because the old ones broke (several hundred)
  • emergency locksmith (wallet with ID and car keys got nicked) 300
  • emergency car lock change (see above) 700
  • car repair 500

all of which were unavoidable and unpredictable.

If you're single with no kids then crack on, it's your life even if it's a foolish decision. But when you have kids you owe it to them to make more sensible financial decisions, which includes not going into debt for a holiday.

You never know when a big expense might come around the corner and wipe out your savings or your ability to repay the debt. It's a holiday, not a need. Book yourselves a couple days away at the seaside if you can afford that, still exciting for you and the kids and a good example of living within your means.

"spending money would be ok i'd just use my salary for that month"

and what if that month your boiler breaks or fridge breaks down or car needs new tyres etc.? You sound very happy go lucky which is nice in some ways but I think by the very fact you posted here you're sensible enough not to do this.

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