Need a break, don't have the cash - Would you put $3k on credit card for vacation?

[Anonymous]

No way. If you can afford a few hundred dollars, find a cheap cabin or a weekend in a hotel with a pool. Go for 2-3 nights, whatever you can easily afford. Indulge in inexpensive simple pleasures - a favorite food but not fancy food, a good book, some time in the hotel gym - whatever makes you feel good.

Or a staycation, again with some simple pleasures. I recently did an at home spa day, doing my own nails, deep conditioning my hair, a $3 face mask, then putting on makeup and going to a local cheap cafe. It dosent replace a full vacation, but it gave me time to focus on me. I have 2 kids and am in a helping profession, so I go all day on everyone elses schedule and working for them. Taking time to shave my legs and do my hair made my happier going into the next day.

[Anonymous]

Anonymous wrote:I'm the OP, thank you for the very honest feedback. I really needed to hear it.

Honestly, my thoughts are the same as you guys, but I guess my desire to get away for a break is getting the best of me, wearing me down.

I did consider doing something small this year, and saving up for a very nice trip next year. Problem is, I always say that, then use all the money I save up for something else. For instance, last year I saved up $$$, then used it to buy a house in a better school district for my child. So I saved up again for this year, then had unexpected house expenses (higher taxes, roof rats, trees cut down due to storms).

So I feel there will always be something. But I don't want to keep putting off travel, because you just never know what may happen in life. Death, illness, cancer, disability.

*sigh* First world problems...

And here is the reason. If you can't save money for something you really need, like a vacation when you're stressed, how do you know that you'll have the discipline to actually pay the CC once you owe money? And what do you do if you have an emergency? Let's say you charge $3K and go on your vacation. What happens when you get back and you find that your water heater breaks? $1K that has to come from somewhere. Or one of you needs an operation and the out-of-pocket deductible is $750? What about your car breaks down and the repairs are $600? Does that change the equation for paying off your CC by the end of the year? And does paying off the CC by the end of the year include budgeting for Christmas or will Christmas presents make your CC payments go up again and you'll pay off by March?

You should only put charges on a CC that you can pay off at the end of the month. The only exception should be an emergency that cannot be handled any other way that must be paid, like a medical emergency, car repairs that are needed to get to work/school. This doesn't include a vacation, no matter how much you need it.

What you should do is open a new account at an on-line bank. Choose one that has only electronic transfers and gets the maximum interest (usually around 1%) for savings. Transfer $500 a month into the account. This is your vacation account. You don't go on vacation until there is enough in that account (less the minimum amount you need to keep in the account) to pay for the account solely out of funds in that account.

[Anonymous]

Here's what you do: you start researching and planning for the trip you want to eventually take. You figure out how to keep costs down (cheap flight, package deal, etc.). You set a budget, and you save for it.

You'll enjoy researching and planning for it. You'll have something to look forward to.

You need to drastically cut your usual budget to save for your trip. Eat ramen. Don't go out to restaurants. Stop drinking. Pack lunch. Steer clear of the mall, target, etc. Write down every expense and try to go as long as possible without buying anything. You can do it!

This is what we do, and we're a family of six (so a big trip for us is easily $10k).

PS - We never carry CC debt...that's how you end up in a financial hole.

[Anonymous]

Anonymous wrote:The title says it all. I am frazzled and need/want a nice vacation. I have money in the bank, but it's earmarked for other purposes (ie house repairs, summer camp, etc). So I don't want to dip into those savings to pay for the vacay. Sooooo, a friend mentioned just putting it on a credit card, and aim to pay it off by year-end. She said that's what she does.

I am very averse to debt, and don't ever carry a credit card balance. I use a card for everyday purchases but pay it off every week. I've got a mortgage, student loan, and a car loan, and I am trying to pay these debts off as quickly as feasibly possible. So I feel kind of guilty even thinking about taking a decent vacation while still paying off these debts. BUT I really want to go on one, I need it.

Wwyd? I considered a cheaper vacation, but that's what I've been doing, and quite frankly that gets old. It costs $$$ to see the places I want to go, and I'd like to move beyond just checking out local US spots (even though they are super duper affordable).

-Do any of you put vacay on the credit card, and pay it off later?
-How much?
-How long does it take you to pay it off?
-Do you ever feel bad about this debt hanging over you?

Yes. Take the vacation. Put it on the credit card. Pay it off later.

Don't make a habit of it, but life is short.

In 2005 I traveled around the world for 8 weeks and put the whole thing on a visa. I paid it off a year later. Best trip of my life.

[Anonymous]

Never

[Anonymous]

You sound pretty disciplined, OP. If you have a 0% or very low interest card, I'd say go for it. Live a little. Enjoy your life. Stick to your payment plan when you return!

[Anonymous]

Ignore these people. Yes do it. Sometimes a trip can give you a bit of perspective and the drive to tackle issues you may be having.

A staycation ends up being you at home with "free time" to clean our closets and do the other 400 things you have been meaning to do. Not relaxing or quality time at all

[Anonymous]

never do this no no no.

[Anonymous]

Anonymous wrote:Look for a calculator online to figure out how much your 3k vacation would cost with interest based on monthly payments you'd make, then see if it is worth it.

There are plenty of zero interest for a year CC offers. Get one of those and decide if you can afford $250/month in payments. Just be realistic with your budget.

[Anonymous]

Anonymous wrote:You sound pretty disciplined, OP. If you have a 0% or very low interest card, I'd say go for it. Live a little. Enjoy your life. Stick to your payment plan when you return!

In what way does OP sound disciplined? She has tried to save for the vacation, but always wound up spending the money elsewhere. I agree with a PP who said there is no reason to expect that to change and charging a trip she was unable to save for and therefore can't afford now is courting trouble.

[Anonymous]

I think you need to stop using the word "vacay"....

[Anonymous]

Anonymous wrote:

Anonymous wrote:You sound pretty disciplined, OP. If you have a 0% or very low interest card, I'd say go for it. Live a little. Enjoy your life. Stick to your payment plan when you return!

In what way does OP sound disciplined? She has tried to save for the vacation, but always wound up spending the money elsewhere. I agree with a PP who said there is no reason to expect that to change and charging a trip she was unable to save for and therefore can't afford now is courting trouble.

This! OP does not sound disciplined at all.

[Anonymous]

OP I got a great vacation on cheapcaribbean.com in the caymans with my kids. We stayed on the less popular side of the island at the holiday inn with a daily shuttle to the beach and a view of the interior side (I'd call it the "sound" side but I'm not sure it's a sound... anyway...)

Maybe got without the kids if you need to cut costs. Airfare is what gets you with kids....

[Anonymous]

Anonymous wrote:I'll break with the crowd, OP.

Yes, I would. I have done this before. Sometimes, you do not have the cash on hand to buy the tickets when you need them. If you have a plan to pay them off over a relatively short period of time, and you are truly at the end of your rope, go for it.

Agree, because it also seems like you are responsible w/ finances.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:You sound pretty disciplined, OP. If you have a 0% or very low interest card, I'd say go for it. Live a little. Enjoy your life. Stick to your payment plan when you return!

In what way does OP sound disciplined? She has tried to save for the vacation, but always wound up spending the money elsewhere. I agree with a PP who said there is no reason to expect that to change and charging a trip she was unable to save for and therefore can't afford now is courting trouble.

This! OP does not sound disciplined at all.

New poster here. I also agree that OP sounds disciplined because she does pay off her weekly balances, and is consistent/vigilant about paying off loans.