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3 Smart Reasons Not to Go into Debt to Take a Vacation

debt vacationMost days out of the year you get up and go to work. In fact, most Americans work at least 35-40 hours per week, if not more, which can often leave little room for much else.

After a couple of work-filled months, even if you enjoy your job, you no doubt are in need of a break. And nothing else sounds quite as tempting, as jetting off to warm up under the sun on a white-sand beach complemented with a tropical drink.

Some individuals choose to take the time to save up for said vacation, while others, too eager to wait, choose to take on extra debt to afford a getaway. That being said, in need of a break or not, here are three reasons you shouldn’t go into debt just to take a vacation.

1. You Won’t Be Able to Relax

Going on vacation is all about relaxing. After all, it’s usually your time to get away from the usual hustle and bustle of everyday life.

Take on extra debt to go on your vacation, however, and you’ll likely find that it’s not all that relaxing to begin with. It’s nearly impossible to see a high number in front of your debt and not feel stressed.

Moreover, the cost of your vacation doesn’t stop once you reach your destination. Between food, extra travel cost, and the want of souvenirs, the price will continue to rise, and every extra cent you spend will just come with added stress.

2. Your Getaway Will Ultimately Cost More

Debt usually comes with interest, and the longer you go without paying off the full amount, the more interest you accrue. While the price behind your vacation might not seem terrible, it’ll no doubt cost you hundreds to thousands of dollars. I

n the long-run isn’t that quick to pay off. The longer your getaway takes to pay off, the more interest you’ll have; ergo, your vacation will cost you more than you originally thought.

3. Other Expenses Get Pushed Further into the Future

As mentioned, between the cost you rack up for the trip total to the interest that could bring, the time it takes to pay off the full amount could be longer than you hope. When you’re working to pay off existing debt, the desire to purchase anything else often must wait.

Whether you were working towards a short or long-term financial goal or have another trip you’d like to plan for, you’ll have to put those wants and goals on hold. Depending on the timeline to pay off your vacation, they could be on hold for a significant amount of time.

Everyone needs a break from the everyday now and then. However, a break shouldn’t come at the cost of further debt. By choosing to save up properly for your vacation, you’ll find it’s not only more enjoyable while you’re there, but a lot less stressful when you return home.

In the meantime, if you’re really aching for a break, plan a relaxing staycation until you can truly get away.

 

Have you taken on debt for vacation? What are some tips you’ve found helpful to save up for a vacation instead?

 

Photo courtesy of: Couleur

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Kayla is a mid-20s single girl living in the Midwest, USA. She is focused on paying off her consumer and student loans, while simplifying her life and closet. You can join her on her journey at ShoeaholicNoMore or follow her on Twitter.

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