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

[Anonymous]

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?

[Anonymous]

I'd NEVER do that. We all want nice things in life. Doesn't mean you go out and get it.

[Anonymous]

you "need" it huh? you do you, then. But I think racking up $3000 in credit card debt like that when you have other bills and obligations is reckless.

[Anonymous]

No, horrible idea. Vacation at home (stay-cation)

[Anonymous]

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.

[Anonymous]

I've had some really great vacations on the cheap. For me, the amount of money spent usually isn't proportional to the enjoyment. So, I wouldn't put it on a credit card...I'd just resolve to doing really great budget vacation planning

Try Montreal and Quebec City. Cheap short flight, inexpensive lodging, and it feels a little foreign because of all the French.

[Anonymous]

This post is a perfect example of the sense of American entitlement. "I want what I want! I want to see far away places! I need it! I deserve it! I WANT it! Me, me, me!"

[Anonymous]

Never. I subscribe to "pay as you go". If I haven't saved the money, I don't get the vacation. Do a series of nice day trips instead. It can have just as restorative a benefit and you won't have the added stress of a credit card balance when you get back.

[Anonymous]

No, because what always happens is as soon as you put a big charge on a card for something frivolous, something major happens that causes you to put more on the card and that's when the problems start.

[Anonymous]

You never a credit card balance, period.

When DH's brother passed away suddenly and we needed a break, we put off house repairs and other things we "needed" to pay for a vacation. Our siding rotted away quietly in the meantime and paint peeled away from our house, which made the repairs more expensive in the end, but that's what we needed to do for our mental health. We never carried a credit card balance, but we made a difficult choice.

Can you do something like that?

[Anonymous]

"You never *carry* a credit card balance", sorry.

[Anonymous]

You might need a break from work, but it's hard to believe that you need to use the time to travel. It also feels better if you have saved up the money for it. Won't you also miss out on the money you don't earn while on vacation. That said, I've done what you wanted to do and paid it off with interest and all. While I'm not rich, but $3000 is not a lot of money to pay off in a year. Do you have the $300 a month once you get back to work?
When you are older and have been responsible with your money otherwise, you won't miss the $3000, but you'll remember the vacation.
Why not save up the $300 a month and go on vacation he next year?

[Anonymous]

No. If you can't afford it, you don't do it. If you could pay it off by the end of the year, just start saving. Find some free or affordable things to do that will pick you up.

[Anonymous]

Stop watching travel channel and coveting other people's trips on Facebook. contentment starts with within. I want to go snorkeling in Hawaii too but it's out of my budget.

[Anonymous]

No, no, no. Especially if it will take you an entire year to pay it off. If you can pay it off this month, so that you don't incur any interest, then yes. But otherwise, no. Save up for it.