How to Go On a Holiday With Excessive Credit Card Debt
Let’s face it, everyone needs a holiday. Why should credit card debt get in the way of some much-needed stress relief? It shouldn’t, but often, it does. People assume that just because they’ve made a few bad financial decisions that they should miss out on life. While everyone else is busy at the beach, interacting, socializing, and soaking up the sun and the beauty of nature, you’re sitting at home struggling to come up with ways to get rid of your debt. The truth is that your debt will still be there when you get back. The bright side is that you don’t have to worry about falling even further into debt just because you feel you owe it to yourself to take a break.
Determine What You Can Afford
Since you’re in some pretty heavy debt, chances are that you really can’t afford to splurge. Instead of going all out and spending thousands on a luxury holiday, create a budget. Take a close look at your overall monthly bills in combination with the debt that you already own. From there, determine what you’re going to have available to spend on holiday. Factor in the amount of money you will need for gas, food, a hotel, shopping, etc.
Don’t Eat Out, Pack Your Food Instead
People are often very surprised at the amount of money they spend on fast food while out holidaying. There are not only the local restaurants, but the restaurants on the way there. If it is a popular place, then restaurants along the way is most likely going to charge more because they know there are travelers on the road who will stop in. The restaurants surrounding your destination may also charge “an arm and a leg” for their food because they know that people love to dine out when on holiday. For them, this means more cash. For you, this means a higher rate of debt. So instead, remember to pack your food and refrain from any dining out.
Leave Your Card at Home
Want to solve all your excess spending problems? Just don’t use your credit card! Use nothing but cash or your bank card instead (but not your savings, of course). Use only the money that you have set aside. Refrain from borrowing or allowing yourself to dip into your savings account and other sources of money that you have put away for other things. If you’re an excess-spender, this may be difficult, but you will definitely be glad you didn’t in the end.
Bring Spending Money
If you don’t allow yourself to purchase anything, you’re probably not going to enjoy yourself. You’ll spend your entire trip thinking about how you’re not supposed to buy anything. Where’s the fun if you’re not allowed to buy anything? There is none. Fortunately, if you set a “spending budget” that allows you to splurge slightly, you’ll be satisfied enough as not to go completely overboard. The key to avoid overspending is to bring money in the form of cash, not your credit card.
An Inexpensive Stay
Your hotel stay should not cost you an outrageous amount of money. Keep in mind that you’re not holidaying for the hotel, but the location. You’re there to see the sights and enjoy your time away. For example, if you’re going to the beach, you automatically know that the ocean-front hotels are going to be more expensive. To save money, choose a hotel that isn’t directly situated on the ocean front. Chances are you’ll end up saving at least $30.00 per night. Another thing to be aware of are luxury hotels. If you’re in it for the hotel stay, then it’s perfectly fine to pay extra. However, if you know that you’re not going to be spending a lot of time at your hotel, you’ll come out much better off going without all the extra accessories. Also, be sure to look for a low-priced hotel that offers a free breakfast for extra savings.
Bring Your Own Water Bottles
The majority of people choose to holiday during the summer. The result? Increased thirst due to the heat. Amusement parks, beaches, and other popular holiday destinations know this and are in it to take advantage. They know that tacking on an extra .25 cents will add up to hundreds of extra dollars at the end of the day and thousands extra at the end of the week. Invest in some plastic bottles and fill up as you go.
Leave The Car at Home
Once you arrive at your destination, don’t bother wasting anymore gas. A much more financially-sound decision would be to leave the car at the hotel and walk up and down the streets of your destination. Take out the time to enjoy the sites. As long as you’ve got a full stomach, some spending money, and a water bottle, you’re free to enjoy the rest of your day.
Holidaying when you’re swamped in credit card debt shouldn’t be stressful because obviously, credit card debt is stressful enough. With some careful planning ahead, you should be able to thoroughly enjoy your time away without spending anymore than you have to.
Bio: Hasic M is the editor of Think Credit Cards, a consumer oriented site where you will get tips on how to consolidate credit cards while learning how to reach credit card debt relief.