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Original poster

Going on holiday whilst in debt

60 replies

Turkytwizla · 29/12/2023 20:05

Do you think it’s ok to ho on holiday whilst being in debt. I’m not talking about extreme ‘we’re gonna lose the house’ debt. I’m talking about having some manageable debt that you’re just paying off monthly.

would you still go on holiday if you had outstanding unsecured debt?

OP posts:

mrsfollowill · 30/12/2023 01:13

I know someone who went on holiday and cancelled all their direct debits/standing orders to do it. I'm talking mortgage, council tax, gas and electric water rates everything- Mental! went away for 2 weeks then faced the music when they got home. This was maybe 20 years ago or longer but really?!

penjil · 30/12/2023 01:14

willingtolearn · 29/12/2023 20:22

Wouldn't work for me.

But I don't much like holidays and I'm terrified of debt.

Different strokes for different folks I guess.

Oh dear. Is there anything you find joy in?

Shouldershoulder · 30/12/2023 01:18

I've been on holidays with debt , 2 credit cards, car loan, bank loan, phone contract, mortgage.
Im now totally debt free. If you can still cover all payments, then I would go, life is short.

PinkArt · 30/12/2023 01:22

I'd feel deeply uncomfortable with it, which would pretty much render the holiday pointless anyway. I remember how soul crushing it was as a student, working all through the holidays to wipe out my overdraft and get back to having literally no money and I've always tried to avoid it since. Life happens and it's not always possible, but personally I couldn't do it for something like a holiday. Different strokes for different folks though - everyone's risk level with debt/ savings is different.

Ostu · 30/12/2023 01:34

I have done but in very specific circumstances - had a permanent stable job, low fixed outgoings, had a long term plan to pay off the debt and budgeted for holidays/treats/days out separately.

I'm glad I did it as the holidays were fun and paying off the debt didn't feel like utter misery so I did stick to my plan and I am now debt free. Maybe I could have got there quicker but it would have been tough to go for a long time with absolutely nothing to look forward to for either me or the kids.

Fourecks · 30/12/2023 01:39

Depends on the debt and who you owe. If you've borrowed from family or friends, then definitely not.

shivawn · 30/12/2023 03:21

Manageable debt? Yeah I almost certainly would. I'd budget for it separately and make sure it didn't interfere with my monthly repayments but travel is important to me so I'd still go.

SutWytTi · 30/12/2023 03:35

What type of debt?

If a planned loan for e.g. car or renovations, then yes.

If a big credit card balance, then no.

Ponderingwindow · 30/12/2023 04:01

By debt I am guessing you don’t mean a mortgage or a reasonable, extremely low-interest car payment.

no, I would not holiday with debt. I wouldn’t indulge in luxuries with debt hanging over my head. I don’t even holiday or buy luxuries unless I have a nice savings buffer in place so there is no risk of debt in the future. That is how I avoid debt.

wideawakeinthemiddleofthenightagain · 30/12/2023 04:05

What sort of debt? Interest free credit card or loan for a car when I was meeting all of the minimum payments and had a plan for paying off the money itself, then definitely go on holiday. Incurring fees on servicing existing debt then I'd definitely not.

amylou8 · 30/12/2023 04:11

Not enough info.
Cheapie week in Egypt on easyjet yes. Business class to Bali no.

TiptopTommy · 30/12/2023 04:29

Only if I wasn’t adding to the existing debt by doing it. And only if I was comfortably paying the existing debt off (i.e. not just the interest) and had capacity to manage unexpected necessary expense like washing machine repair/replacement, car repair etc.
If not, honestly, I wouldn’t.

Happyhappyday · 30/12/2023 04:36

Absolutely I would not apart from mortgage debt or student loans, because I believe that once you start living outside your means, it’s quite hard to stop. Barring a serious long term illness or major crisis (struggling to think what?) or just chronically very low income, I have a hard time envisioning a situation where we would end up in debt.

RoseMarigoldViolet · 30/12/2023 05:28

No, I wouldn’t.

Beautiful3 · 30/12/2023 05:49

No I think that's silly. I'd pay off my debt first.

GreatGateauxsby · 30/12/2023 06:05

Not really enough info.

But no... probably not.

E.g. If I had £3-6k kicking around to fund a holiday and £10k on a zero % interest credit card we would not. I'd just skip it and use the annual leave to potter at home.

But... We travel and holiday well and reasonably frequently (2-3 x per year) so skipping one once isn't a big deal

Tel12 · 30/12/2023 07:11

No I wouldn't. Bottom line is that if you are in debt you can't afford a holiday. It's just more debt, plus how can you enjoy it knowing it's just compounding the issue? Personally I would pay off the debt and set and saving for a holiday or whatever.

RoachFish · 30/12/2023 07:37

I wouldn’t, but I’m also petrified of being in debt. I paid off my mortgage a couple of years ago through downsizing, sold the car so have no debt there, paid off student loans years ago and I don’t have a credit card. Knowing that I don’t owe anyone anything feels a lot better than any holiday will ever feel. I can afford holidays because my outgoings are low and I don’t have to stress about it. If the money is there then I go.

LikeIDontExist · 30/12/2023 07:40

No because it’s just adding to and increasing the debt.
One unexpected financial expense later (car/boiler/washing machine) and it could all spiral to unmanageable levels.

hanschristmassolo · 30/12/2023 07:42

Depends who you owe the debt to? If you owe family members or friends then going on holiday is taking the piss a bit

EmpressaurusOfCats · 30/12/2023 07:45

mrsfollowill · 30/12/2023 01:13

Blimey. How would you enjoy a holiday with all that hanging over your head?

Crushed23 · 30/12/2023 08:08

Absolutely.

In my early 20s when I first moved to London, I lived on interest-free credit cards and my interest-free graduate overdraft. This included going on multiple holidays a year.

All paid off as my career progressed and I got paid more.

Life’s too short - book the holiday. :)

Starseeking · 30/12/2023 08:15

No, my absolute focus would be on clearing the debt. You can't afford a holiday IMO.

OnlyFoolsnMothers · 30/12/2023 08:17

Not if it was just me- if I have a family then yes. Life has to be a balance, if the debt isn’t huge and being handled yes. I have a credit card, I don’t pay it down before I go on holiday.

ToBeOrNotToBee · 30/12/2023 08:40

Yes.
I have done it and it was very needed.
There is more to life than a credit rating.

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