Debt Vs Vacation

**Bournecrazy** · 09-13-2008, 02:29 PM

i am interested in other peoples opinons and wanted to ask a question

Do you save for a vacation/trip and still pay the debts off or do you pay as much as you can off your debts before even thinking of a vacation?

or does it all depend on the amount of debt?

**The Muse** · 09-13-2008, 02:36 PM

I think it depends on the amount/type of the debt and the cost of the trip.

If your only debt is a mortgage, I think you can be more flexible than if your debt is a couple of car payments, student loans, and a credit card or two.

If the vacation is one of those $2K+ trips, I'd say put it towards your debt in most cases. If it's something more modest in the sub $500 category, it might make sense to take the trip.

Our only debt is the mortgage and we generally take one sub $500 trip a year. Once the mortgage is paid off we're going to take a trip somewhere amazing like Machu Picchu or the South Pacific. Until then, I'm happy with inexpensive trips and progress on our principal.

**nodmicks** · 09-13-2008, 02:52 PM

We did take one cash vacation to South Dakota while we were paying off debt. Financially it probably didn't make the most sense honestly but I'm glad we took the trip with the kids.

I would definately say probably not if the debt was huge and there were any problems paying extra.

**walker24** · 09-13-2008, 04:28 PM

I think it depends on the individual. We are not done paying off debts (car loan included) but we are socking money back each month for a vacation at the end of next year. For us it's something to look forward to and a reason to keep going on the debt payoff.

**Neeley** · 09-13-2008, 04:45 PM

We take at least one large vacation every year that costs in the $3K-$4k range. DH gets a substantial annual bonus that covers our vacation with a nice amount left over. We also take a few smaller trips that run in the $500-$700 range that we just use some of our extra money on.

We don't have any debt other than our mortgage. I am not concerned about getting that paid off early to the point that I am going to give up our trips. We enjoy them too much for that.

If we had other debt it might be a different story. I doubt we would give up all of our trips, but I am sure we would cut back some.

**missmanny** · 09-13-2008, 06:42 PM

I think that you would find that most of the hard core's here would tell you that if you are serious about getting out of debt then you would hold off until such time as your debts are paid off.

I think that you have to do something that will work for you.

In my mind when I was paying off my debt I couldn't bring myself to spend money on a holiday when I still hadn't finished fixinf up my debt.

Now that I am debt free the money that I was putting to the snowball can go to the vacation and it won't take me long to save up money for a vacation (I will only do this once my EF is fully funded though so it will be a coupl eo fmonths yet)

Once you have no payments it is amazing how much money you have that you can use for holidays etc.

**Wendy99** · 09-13-2008, 07:09 PM

Depends on your situation ... we prob spend $1000 total per year (or much less) depending on the amount of days we go and distance (we always do camping) ... if you can save up and it's a "cheap" get away then go for it ... if it's going to set you back even further or you are looking for an extravagant expensive holiday then I would say forget it .. but do what works for you.

**dcompton** · 09-13-2008, 07:20 PM

I more or less agree with what's gone before. If the debt is very large and payback is fairly slow, then probably not, unless it's a really inexpensive day or weekend trip or something similar.

On the other hand, nose to the grindstone with no relief in sight, never a day away from worrying about money, can be very discouraging, even crushing.

When I was paying down mine I did make a number of trips to DC to visit friends. It indeed slowed down the repayment, but the debt was not large and the trips were far too important to me personally to give them up. However they were not expensive trips.

But for another thing to consider, at that time the economy was a lot more stable than it is now. Now might be the time we all need to hunker down to ride out the financial storms. I will not be visiting them this Christmas, even though I am debt free now. I would love to, but flying is more expensive than it used to be, I have had some large unexpected expenses lately, and it just doesn't seem the prudent thing to do at this point.

**Luv2BeFrugal** · 09-14-2008, 05:41 AM

I think it depends on the type of debt. And how much you're looking to spend on a vacation.

For us...up here (Alaska) it's usually at LEAST $1K just to fly out of here and back...let alone motels, meals, and possibly a rental car... A trip to Vegas runs in the $2500 range...minimum.

So, in our case...a "sub $500 trip" means staying in a motel for a couple nights up here (yes, VERY expensive)...after several hours drive (and there aren't many options for "destinations" that you can even *drive* to). Not my idea of a "vacation".

If you have a mortgage or student loans (what's considered "good debt") and you're all current...I'm not opposed to enjoying life a bit (pre-planned and budgeted for, of course).

It definitely would be based on situation overall from my perspective...

**Greebo** · 09-14-2008, 06:38 AM

If you can't cash flow the vacation, absolutely not.

Otherwise, its negotiable.

**xtena** · 09-17-2008, 12:44 PM

Vacation? What's that? LOL.

I agree with Mr Ceashels.

**JerryG** · 09-17-2008, 04:27 PM

Originally Posted by Greebo

If you can't cash flow the vacation, absolutely not.

Otherwise, its negotiable.

Yeah, that. I've taken many vacations, out of the country and overseas but have never gone into debt for them. I don't know how I would enjoy them thinking of the statement that would be coming in the mail, when I got home.