34 crisis - but am I being irresponsible?

[Timeout3]

7k credit card debt, none of which incurs interest for well beyond a year.

I’ve bought a house, have a car. I pay more than the minimum payments on credit card. If I haven’t cleared it all by the end of the interest free then I will do a balance transfer.

I want to go on a trip. I’ve done very little with my life when I look back - lots of box ticking (good job, bought a house, own my car etc). I’ve never really DONE anything though. And I’m panicking about it a bit.

I’ve considered spending some savings on a trip. It will leave me with only a grand to my name (technically in debt as I will still have the credit cards). I save a little each month, maybe 200-250.

Would you do the trip? Is it irresponsible? I’m so conflicted but at the moment feel like I’ve always been working to exist rather than live.

I don’t know. Do you just want to do the holiday and you’re dressing it up as ‘doing something with your life’? Because I think if you actually want to feel like you’ve ‘done’ something then a 2.5 week holiday isn’t going to cut it. You’re not going outside your comfort zone at that price/with that level of organisation, so much as it’s lovely I can’t see it leaving you with a sense of achievement. Are you sure you don’t need more of a personal challenge? (Or maybe you do just want a nice holiday?)

I just haven’t done anything like this before in any way, so to me it is the safest way of starting to branch out a little. I wouldn't even contemplate going without it being organised in advance by a company. So it’s like a baby step to me and therefore a milestone.

Ravenmum are you secretly the OP’s boss or do you just need a holiday

Why, am I being negative? I did encourage her to take five holidays, though. And just came back from the beach two days ago thanks

As someone who enjoys travel, I say go for it ! The price seems high for Asia, so for that money I would expect to stay in 4 or 5 star hotel, with activities, food and a guide. To compare, we have travelled to multiple countries in Asia, with activities, flights, cheaper accommodation for a month for the same price or less each. As it's your first trip, I would go for it ! Lots of travel agents have sales on now. The alternative is to book your own flights via Skype scanner, your own hotels, book the activities when you get there. Happy adventures !

I would but I would put it on an interest free credit card and keep my savings. Savings are difficult to accrue and if you lose your job you will need your savings. Debt can be reprofiled etc. You only live once and as long as you are sensible which I think you sound like you are then go for it.

Perhaps in future try saving £100 a month for a holiday?

@Bombardier25966 Yes, I'm well aware of that. My point was quite clear - people were saying that £3k was expensive for a 2.5 week holiday (that included all food and activities as well as flights and accommodation) BEFORE the OP told us she was going to Asia. There are scores of places where it would be very easy to spend £3k on a 2.5 week holiday, especially when there's only one person paying for it rather than two people splitting the cost of a room.

Do it. You're 34. You have a good job. You have a house - which I assume has equity in it. £6k debt isn't exactly earth shattering.

Live your life. Take the holiday. Don't overthink it. Have a fab time. You never know where life will take you.

Is it with someone like exodus? I did 2.5 weeks in Thailand with them. Similar situation. Hit 30 thought I haven't done anything. It was an absolutely fantastic experience! I would love to be able to do something like that again.

@Toomanycats99 - is your user name the reason why you can't?

@ravenmum

Unfortunately not.....that would be the 2 children and (now ex) husband.....although this post has made me think I should see if exodus or someone else does a similar sort of holiday that include children ......think my budgets more British seaside than Thailand now though........

YOLO go for it!

Just wait till you’ve paid off your credit cards .

The next 'problem' that you will have is that you will love traveling to Asia so much you will want more holidays ! So you will need to save money or make more money for the future. I have been fortunate to work some over time and I have some savings. However, the experiences are worth more than money in the bank. Keep an eye on your budget !

I think you’d be nuts to go on an expensive holiday when you have so much debt! And yes, I don’t think £6k is an insignificant amount. It’s a lot of debt if OP can’t pay it off.

Is there a reason you have to go right now? Wouldn’t the holiday still be there if you paid off as much debt as you could today with your ‘savings’ (which as others have highlighted, really aren’t savings lol), focused on paying down the debt for as long as it takes and then saved liked crazy until you could afford a holiday?

Wouldn’t you enjoy it more knowing you’d worked for it and wasn’t doing it all with debt/weren’t coming home to a shitload of debt?

People range from the happy to lucky ‘6k is nothing, debt is no big deal, life experiences are more important’ to ‘I don’t feel comfortable without £5k savings sat in the bank for emergencies, won’t carry even £50 on a credit card, save up for something if I want it’. Everyone is different. If you’re truly the former then go for it. Neither is right or wrong. It’s just that every reply on here will solely depend on whereabouts on that scale the poster is :P

That’s very true Vietnamese. I’ve always been very careful with money. Yes I have 6k on credit card but also bought a house totally on my own with no outside help and on a pretty rubbish salary of 27k (less in the years preceding - started on 15k) which is now valued at 290. Point is I have done a lot of hard saving on my own.

I get that 6k is a lot as that’s my worry. I guess I’m just drained at all the mega saving historically 😂

I know 290 isn’t loads but just trying to explain that I have saved previously and I’m not totally reckless 😂

I'm going to add that when I started traveling long distance, I had no debts. So I was in a fortunate situation. A few people have made comments to me, that I shouldn't get into debt for holidays, but they didn't know my financial position.
I realize that holidays are a luxury. Like you I've saved and had gone without luxuries for several years. The choice is pay off the debt first and then treat yourself to a holiday. Or go on the holiday, then pay off the debt.

Timeout just do it. You never know what’s going to happen... it sounds like you’ll be able to pay the debt off and have a plan. I’m a similar age to you and I feel the same re having not done anything. Better to live with no regrets

I would do it, OP. A debt is a debt, and mortgage and everything else falls in to that. Those saying they wouldn't do it mustn't take holidays until they've paid their mortgage off completely.

It's an interest free debt and you will find another interest free credit card if you have good credit rating. I recently got one where balance transfers charged a 2% fee which is £120 to you, so not the end of the world.

Life is for living and it doesn't sound like you have lived carelessly. In fact, you're in much the same position as me. I am 29, I bought my house at 24. I go on holidays a few times a year. I have never missed a bill, never been late paying anything. But I do have £2,700 on my credit card left to pay from having my bathroom refurbished. I pay £100 off that a month and have 36 months interest free so it'll clear itself, but I won't let that stop me from going out for meals, going on holidays etc.

Thanks for the posts.

Token I agree, it is hard and you can’t forever say no to things until everything is paid for! I think I’m hesitat as this is really pushing it, although manageable. But the alternative is to spend a few hundred on a few trips I’m not so bothered about.

Go on the trip 💯