Why do people go into debt to go on a holiday

[Bluecatblu]

Genuinely don’t understand why people, who are already in debt, will fund their holidays with their credit card. Stressing how you’re going to pay the bills for 50 weeks in exchange for 2 weeks of sitting in the sun.

Because they are thick and can't delay gratification. Nobody needs an expensive foreign holiday.

Because holidays are important to them. They aren't necessarily stressing about paying it back.

Because they want to do a particular trip (ie, Disney) before their DC's are too old / too expensive.
Go at infant school age and bung it on the credit card instead of saving and saving and missing the boat. I've been tempted to do it myself a couple of times.

I put my holiday on a 0% credit card for the extra protection and so I could manage the cost throughout the year. I could have used savings but wanted them available for emergencies and earning interest. I'll repay in full before the 0% period ends and then be applying for a new 0% card.

I’ve done it because I know at some stage I will be able to pay it back whereas years with children are precious. you don’t know how many you’ve got, how many they’ll be prepared to hang out with you for, and you may not even be able to put it on a credit card in years to come. Life is short.

If you think that's bad OP, the way some people buy houses will blow your mind. 25 years' worth of debt for those suckers.

This.

my kids are older teens now. The last couple of years we’ve done a few “nice” holidays, which I’ve financed on 0% credit.

yes I now have a fair bit of debt on the cards, but in a year both will be away at uni, holidaying with friends, and unlikely to want to come away with mum and dad. So it’ll get paid back then.

when they were younger I’d budget what we could afford only. But I just thought sod it, let’s go to these places and do things before it’s just me and dh getting old.

Risk of being morbid my uncle dropped dead at 56 with a 16 year-old daughter. As soon as he knew he got cancer he was running around like a blue arsed fly trying to create memories but of course he was too sick.

But statistically you won’t be dead; the average person has another 40 years to live (assuming average age of death to be 80).
Fair enough if you use credit cards for the security but op is talking about people who are in debt or have no spare cash.
Is it really worth it if in the long run you pay back more money by using a credit card, which ultimately means you can afford less in the future?

If you don’t pay your mortgage the bank will take it back? A bank can recall a mortgage at any time too. Not a good comparison at all.
I suppose people who spend money they don’t have just don’t really think about the future ? They assume they will keep earning?

I remember a saying which is something like
‘Rich people plan for 3 generations
Poor people plan for the weekend ‘
Most people have a ‘poor person’ mindset and want to live in the now. Those with a different mindset will go without for a while to reap the benefits later. Delayed gratification? Like children who can wait for the sweet ?

We don’t have much savings and want to keep them for car emergencies etc.

Easy to spot a great holiday deal, buy on credit card and then pay over the year or however long the 0% deal is.

Yes but why do you feel the need to spend money you don’t have on a holiday ? Wouldn’t it make more sense to save up and then look for the deal? Why get yourself in a situation which means you are always owing money?

You have a 0.004% chance of dying tomorrow. Those are rather good odds.
Yes I did google it 🤪

Because I'd rather have my savings in my account earning interest for me and the bank give me the additional security of credit card payment for a large expense

I went into debt for a sofa. Lots of people would say to wait until I had saved. But my back was sore and I wanted to be in comfort. I'll pay it off in 2 years. 0%. Being able to manage debt is a skill in itself. Doesn't worry me at all.

I might do the same for a holiday at some point in life.

We’ve done this because we wanted to enjoy a few holidays with the DC. If we waited until all the debt was paid and saved up it would take another 5 years and DS would be 18 by then.

The debt was due to DH being ill and not being able to work for 3 years. We’d been through a horrendous time already. Just working to pay bills/debt for another 5 years would be depressing and we were confident we could pay it back. It’s all on 0% cards so no interest. We’re not planning any more holidays now until it’s paid off.

🤣🤣🤣

I don't get into debt to pay for holidays but if I couldn't afford one I absolutely would. Holidays are really important to me, more important than my mobile phone contract, beauty treatments, new clothes, haircuts, tv pretty much everything except food. We all have different priorities.

Because life is short. They can. They want to. Its not illegal. It doesn't hurt anyone. They might not have another way to have the holiday.

If you’ve got the means to pay it back surely that’s what credit cards are for? We would never have done a single thing or had a single holiday when our children were little if we hadn’t gone into debt. Being able to save is a sign of privilege.

Because we just don’t want to wait while we save. I’m not bothered about a bit of debt, it’s not a huge amount.

So lack of patience and delayed gratification? That’s what I thought. Beneficial to the economy but means a lot of people will say they don’t have any money when actually they’re just spending it before they’ve actually earned it. Sounds like a bit of a poverty trap?
As I said before the poor plan for the weekend. Which is why they remain poor. Must be a mindset .

If you have savings then this isn’t about you.

Is there a point to this thread? The OP has disappeared.