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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:
SayingwhatIreallythink · 04/09/2023 07:38

Depends how much debt you have left - I assume you’re not including mortgage in that?

Also depends on the personalities you’re going with - if they’re the type to get into arguments or bicker and moan all day, then probably not, as it will be draining and not enjoyable.

Clefable · 04/09/2023 07:41

Take your dad's offer and enjoy yourself. It's a 'safe' debt, presumably no interest and you don't have to pay it till you've cleared your other debts, which you are making amazing progress on. You know you can manage the repayments when it's time.

You have to find a balance in life.

rwalker · 04/09/2023 07:42

Looks like you haven’t learnt your lesson when it comes to debt
don’t undo your hard work

well done for paying off the 36k

BumpyaDaisyevna · 04/09/2023 07:45

I would keep going with your excellent progress.

When all paid off have an amazing holiday that you can really enjoy as you can afford it 😊

littlegrebe · 04/09/2023 07:45

If you have on average 1k per month to put towards debt this isn't an insurmountable amount of money for you, and it would clearly mean a lot to your dad to have you there if he's willing to lend you the money with an open ended pay back. I'd go, life is short and you don't know who won't still be around next time.

Gh12345 · 04/09/2023 07:46

If you still had bad habits I’d say no. But you’ve both been absolutely amazing to pay off that amount, I’d say go for it.

BumpyaDaisyevna · 04/09/2023 07:47

Mummy08m · 04/09/2023 07:37

Debt is a kind of addiction isn't it? (I'm saying that with no judgement whatsoever, I have had problems too in the past with different things).

What I'm saying is, I don't think all this YOLO rhetoric is helpful. "You could die tomorrow" is the kind of mindset that gets people into debt in the first place.

I would go on the holiday, but I've never had problems with debt specifically. However there are things I wouldn't touch because I have problems with self-control with that specific thing.

If someone has a history of debt problems, I just think it's a bit irresponsible to say "go for it, you only live once" to them about big spends

I agree and speak from personal experience.

I wouldn't fall off the wagon lightly, OP.

ReleasetheCrackHen · 04/09/2023 07:47

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?

You’re paying off £12k of debt each year plus have add £xl/Yr to a “emergency savings account”

You’ve paid off £36k of debt over the past 3 yrs, by next year’s holiday it would be £48k of debt.

I see no reason why you could not decide to have £44k debt paid off and divert £4K to the family holiday? Instead of £48k of debt paid off?

I would not in a million years take money off your dad. That is bonkers. You don’t need his money. You won’t be “going into debt” either to go on this holiday, you’d only be paying off debt a little bit slower for one year after four years of very hard pushing.

You have to balance your life, if this were god forbid a funeral, you’d be spending that £4K like it or not. Go, go and be with family while they’re all alive and you can make memories. You’d still be paying off £8k in debt that year which is still amazing in and of itself.

Flossflower · 04/09/2023 07:48

Don’t go. This is how you got into debt in the first place. Go on holiday when you have cleared your debt and can save up for it.

ButterCrackers · 04/09/2023 07:49

Keep going on clearing the debt. Don’t put yourself in more debt for a holiday. Explain why you’re not going and they will understand completely and even if they don’t it doesn’t matter. Make a plan for after you’ve cleared your debts so you don’t have this stress any more. You are nearly there.

Ragwort · 04/09/2023 07:50

Personally I wouldn't, you've done so well to clear your debt and as Mummy says, without wishing to be unkind it's very easy to slip back into the thought process of putting things on credit (even if this means a interest free loan) so that you can have the immediate gratification of a holiday. And what would happen if you needed money for something essential like a new boiler?

I sadly see this time after time, people don't fully clear their debts because they 'want' things .. bigger house, bigger car, latest tech, a nice holiday etc.

And how does your DH feel about the holiday, if I had joint debts with my DH and he suggested a holiday with his family I don't think I'd be impressed.

Theimpossiblegirl · 04/09/2023 07:52

Would you always regret not going?
Could you go for fewer days to keep the price down? You'll need spends as well, even if AI.
I would want to go and it sounds doable. It needs to be a joint decision

HelpNeededBeforeIHaveABreakdown · 04/09/2023 07:55

This is a bit like those people who sabotage someone when they know they are dieting. Go on, just a slice of cake won't hurt...

Also it will cost more than £4k when you factor in spending money, new clothes, travel insurance, passports etc

Guiltyfeethavegotnorhythm0 · 04/09/2023 07:58

@HelpNeededBeforeIHaveABreakdown This thread is exactly like that .😂

Janieforever · 04/09/2023 08:00

I think the fact you want to get into even more debt says you habe not changed your mindset.

Clefable · 04/09/2023 08:01

The thing with paying off debt over a long period is that it's like dieting. It has to be sustainable for the long-term and allow you to live and enjoy life too. If OP wasn't paying off her debt, was contemplating putting it on a high interest credit card when her finances were in shambles, then that would be irresponsible. But her dad is offering the money interest-free and with terms that mean it won't affect the current debt, and OP will remain on course to pay off the real debt she has by the date stated.

Money is important. So is your family and living your life. There's a balance to all things, and your dad has presented you with a solution that doesn't undo the work you've done or delay your timeline while allowing you to take part in a family occasion that he's obviously v keen you take part in.

Given it's unlikely you will have hordes of relatives lining up to offer you interest-free loans to multiple holidays a year, I don't think you're in danger of a slippery slope. I do think that you have an opportunity to do something in life that will be a happy and long-lasting memory, long after your debts have been repaid.

Girlintheframe · 04/09/2023 08:02

I would go. I say this because your obviously very disciplined at paying off your debt and your dad is lending it. Its great your paying it off but if this is an important family birthday I wouldn't miss it. If it was just a regular holiday then I wouldn't do it but if it is for example a parents 60th etc I would go, you can pay off the debt but you can't get the time back with your loved one.

Upsizer · 04/09/2023 08:06

I’m quite shocked at the replies, but I’m really careful with money. I’ve never spent 4K on a holiday, and I have had some amazing holidays. There’s no way I would do this - what happens when your car dies/boiler explodes/massive dental bill? I’d stick to the debt repayment plan and get your life back on track first.

It’s not the same as spending time with people you love etc if you see them anyway! 4K isn’t facilitating seeing people you love: it’s a treat/lifestyle option that you can’t afford.

AHelpfulHand · 04/09/2023 08:07

I wouldn’t do it

toomuchlaundry · 04/09/2023 08:08

What happens if there is another big birthday bash, wedding etc the following year?

Quitelikeacatslife · 04/09/2023 08:08

I think that if you go it might motivate you to keep up with your discipline. Your dad is offering you an interest free no pressure loan (which he may end up canceling once you've shown willing to repay)
Psychologically you've done really well and this may give you a boost

Clefable · 04/09/2023 08:09

How does her boiler exploding make any difference? Confused Unless her dad would also offer/they would ask for an interest-free loan from him for that?

Anyway OP says she has an emergency fund, which is actually one of the things about paying off debt that people don't often do as they think all their money should go into servicing their debt. Except an emergency happens and they then need to take more debt to cover it and the cycle begins again.

hylian · 04/09/2023 08:11

I would do it. It's a special family holiday and your dad is going to help you out. In those circumstances I think it's OK.

Calmdown14 · 04/09/2023 08:22

My concern is it wouldn't just be 4k.

Is it all inclusive or will there be food and drink on top? Will you all need holiday clothes. Oh everyone else is going in the airport lounge, on the boat trip, to the water park.

4k is quite a lot for a birthday holiday and wondering if trying to keep up with the lifestyle of those around you is one of the reasons you are in the debt?

I personally think it's too much to ask of people in the current climate and quite unfair that you have to either miss out or rack up more debt.

cushioncovers · 04/09/2023 08:24

No I wouldn't go. That's far too much money to spend on someone else's birthday celebration. You don't have the income for it at the moment. Forget fomo and keep paying off your debts.