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Original poster

going on holiday whilst in debt

154 replies

thewearyone · 03/09/2023 22:28

Hi,

Me and dh has our lightbulb moment in July 2020 and realised that our debt was totally out of control. We set ourselves a target to be debt free by July 2026 - 5 years.

We have been so disciplined and have made great progress. We have paid off 36K in 3 years. We haven't once used a credit card, store card etc and this has become our new norm. We have also been able to build an emergency saving fund.

Next year a very close family member has a 'big birthday' and has invited us to join them on a special holiday. It will cost us 4K. We have settled for UK camping trips since starting our debt free mission and the plan was that we would not go abroad until is was all paid off.

I desperately want to go on this holiday. I have spoken to my dad about it ( he is going on the holiday) and he has offered to pay our 4K for now and then we will repay it when all of other debt is cleared. I am so tempted to do this.

would it be awful of us to do this?

OP posts:
Therealjudgejudy · 03/09/2023 23:17

How much debt do you still have to pay off?

caringcarer · 03/09/2023 23:18

I wouldn't be going back further into debt just for a holiday. The amount of worry I would experience just wouldn't be worth it. I wouldn't be able to relax on holiday as I'd be too stressed.

Justlovedogs · 03/09/2023 23:19

Go. Life is all about balance. So what if it takes an extra 6 months to pay off the debt? The family birthday holiday will only happen once. Life is for living.

friendlycat · 03/09/2023 23:20

Personally no I wouldn’t. You’ve got yourselves in debt from doing things previously that you couldn’t afford and it snowballed.

You can’t afford this holiday and it will just be another debt to pay off. Don’t break the cycle of what you are doing in terms of paying off your debts.

I’m a firm believer in buying things I can afford and not buying things I can’t. That includes holidays. Saving for things I want and then having them. I know that this sounds black and white but it doesn’t then mount up and is controlled and under your control. I don’t think adding extra debt to your situation is a wise decision under the circumstances. It’s just a holiday that actually you can’t afford so decline.

KievLoverTwo · 03/09/2023 23:21

My mum got cancer and died within ten months of diagnosis a few years ago. She lived abroad. During bloody lockdown. Country borders closed six days before we were due to travel to see her for her 66th birthday. She died three weeks later.

Previous time spent with her was a fortnight a year whilst she was working full time, at her house, up to her ears in work and chores. The odd day trip here and there spread throughout the years.

I would have killed to spend two weeks with her when she wasn't working and could be stress free. We hadn't done that for 30 years.

Good parents are precious and not immortal. Spend time with your dad.

'I will lend you 4k' is probably dad code for 'you can think I will let you pay me back if that's going to make you come, but I won't accept your payments because I am so proud of how you are bettering your finances.'

strawberryandcreams · 03/09/2023 23:22

Go. The future isn't guaranteed. You've proven how disciplined you can be. Well done. Enjoy it. Back to the grind after. It won't be the end of the world. I'm seriously impressed you've managed to pay of 36k!
Life is for living. Go enjoy a well deserved break

NoSquirrels · 03/09/2023 23:23

Hmm.

£60K to pay off is massive (£36k in 3 years = £12K per year x 5)

But, if you can afford £1,000 per month then you can afford to slow down your debt repayments to go on a £4K holiday.

It delays your debt-free day by 4 months.

What I absolutely 100% would not do is borrow from your dad.

If you want to do it, figure out how to do it without becoming indebted to anyone else.

Pay less to clearing your existing debts in order to finance the holiday.

If you won’t do that, then you shouldn’t go at all.

AutumnLeaves5 · 03/09/2023 23:24

I think some of it depends on where your mindset is and if the holiday/£4k could have the potential to be a slippery slope. Would it turn into just needing some new clothes for the holiday and spending more when you’re there on food, drink, trips etc to “make the most of it”. Could it also in a way give your brain “permission” to start spending again on other things as you accepted the trip/debt and the world didn’t end?

On the other hand, if you confidently say it is a once in a lifetime trip with a close family member (and you’d regret not going if anything happened to them), I would go but have really firm boundaries on not spending anything more than the £4k. And have a clear deadline for the money being repaid.

strawberryandcreams · 03/09/2023 23:25

Honestly so surprised by the negative nancys who think £4k on a holiday is insane.

No.

OP well done. You have proven you can save. 12k savings a year is an insane amount of money. But like with weight loss, it's not sustainable without the odd treat. Please go and enjoy the life you're currently in.

NoSquirrels · 03/09/2023 23:25

@KievLoverTwo I’m so sorry for your loss Flowers

KievLoverTwo · 03/09/2023 23:26

NoSquirrels · 03/09/2023 23:25

@KievLoverTwo I’m so sorry for your loss Flowers

<3

Fanks

sezzer87 · 03/09/2023 23:28

Just bloody do it! You could be dead next year that's the reality. Holidays are essential as far as I'm concerned.
Going forward you don't have to miss out on foreign holidays and settle for UK. If you do it right a holiday abroad is actually cheaper then one in the uk. We just went away for 10 days to Spain and it cost 1/2 the amount our haven holidays cost when the kids were little.

lemonsaretheonlyfruit · 03/09/2023 23:29

Reading through the responses to your initial question, it's clear that people have very different views on what they are prepared to spend money on which drives their conclusions on this.

I think it demonstrates that you have to trust your gut on this. There are lots of posters saying 'no way' and lots saying 'go for it'. I don't think there is a 'right' answer to this. I think you need to listen to what your gut instinct is telling you.

Octosaurus · 03/09/2023 23:32

£4K on a holiday when you're in that much debt?!?! Do not go!

Starlightstarbright2 · 03/09/2023 23:32

This is a probably how much does travel mean to you ?

is it family you see regularly .

i think been frugal means spend only on what really matters .

well done so far btw

TaigaSno · 03/09/2023 23:32

I would go on the holiday, it's a special family occasion that obviously means a lot to you and you'll have great memories.

However I think you should pay for it yourself, not borrow from your dad. You've faced up to your debts and got into good spending habits. Part of that responsibility should be paying for things like a holiday yourself, not borrowing the costs to repay years ahead.

If you've paid off £36K over three years and have some savings then you have a good enough income for this trip. Go off and enjoy the break. You'll come back refreshed and ready to crack on with clearing the rest of the debt.

gogomoto · 03/09/2023 23:35

£2k a head is a huge amount for a holiday even if you are debt free. I would never borrow for a holiday ever, not even from family. Debt is necessary sometimes (eg ti buy a house, replace a car at short notice, white goods perhaps but anything discretionary no way

Guiltyfeethavegotnorhythm0 · 03/09/2023 23:37

If you cross this spending line , debt for a holiday , you will find yourself crossing the line again . Justifying why need another debt for another important purchase . You will be even deeper in the shit .

NewName122 · 03/09/2023 23:47

I wouldn't if I had that much debt.

Gloschick · 03/09/2023 23:50

I don't have a problem spending within my means. But I do like cake, and this feels very much like the scenario where you are dieting brilliantly and then u visit a friend and they give you cake, and the the diet goes down the pan.
I would not borrow for this holiday even from family. I would still try to go. Presumably your monthly interest payments will have gone down now you have paid off so much debt, and you also had enough money to build up emergency funds, so there is potential to build up a holiday fund. You could maybe find some extra savings / source of income/ sell things you no longer need. I think you would enjoy the trip more if you haven't undone your good work.

Abracadabra274 · 03/09/2023 23:54

Absolutely go!! On your deathbed I highly doubt you’ll be thinking ‘I’m so happy I stayed indoors for years missing out on all the fun things to pay off that debt’.
Also if you’ve managed to pay off 36k in just 3 years that suggests this would only set you back another 4 months. Nothing on the grand scale of things.

Deathbyfluffy · 03/09/2023 23:54

I feel bad for saying it, but part of my job is debt management - and I’d just go on the holiday anyway.

You don’t know if you’ll even wake up tomorrow / in a month / in a year, so enjoy yourself.

sandyhappypeople · 03/09/2023 23:56

What does your DH think to the idea?

user1471447924 · 03/09/2023 23:59

On one hand I’d want to discipline myself to stick to the plan and pay off my existing debt, but on the other hand I do see the point people are making about opportunities like this not coming around all that often. I guess it comes down to hour often you see these family members outside of this trip.

toomuchlaundry · 04/09/2023 00:00

Who the hell expects family members to stump up £4k to celebrate a birthday?