Don’t Borrow for Your Vacation

The travel season is upon us! Some people are actually thinking (and have even done it!!) of going into debt to go on vacation. That makes me terribly nervous. The economy is so shaky, and consumer debt (as well as national debt) has grown to such heights that I’m afraid it will all come crashing down. And consumer debt is so hard to pay off. A vacation is a wonderful treat, but is it really something you should go into debt for? There are better ways to manage money and debts, IMHO.

Just about everyone I know has some kind of consumer debt. It’s time for us to get smart about our debt management, which, simply put, is don’t go into debt any further, and pay off what you owe! Easier said than done, I know– believe me! First thing we can all do is be wise with our credit card spending and choosing. Compare credit card rates and always check for annual fees or other slippery charges. There are some good articles about debt management: Advantages and Disadvantages to Getting a Credit Card, and Credit Repair Do’s and Don’ts. You can compare credit cards at the site, too.

Sometimes, we go through hard times and cannot avoid some debt. But remember, a vacation is not a necessity, it’s a luxury. Going into debt for a vacation is risky!

And there you have it. My humble opinion.