Vacations are cool when you’ve got money to blow. If there’s no money, we’ve only got loans to blow. Or, not? Everyone deserves a nice vacation, but is this really a good idea?
Well…a vacation IS a luxury, SO it’s not a need. If anything…you’re spending rather than making. And when loans get involved, you have to pay the principal AND the interest. There’s no telling how much more expensive that trip to Miami will become!
Now, if your baby sister is having a destination wedding and the only way you can attend is by getting a loan, maybe you can get a pass for that. Otherwise:
- Start a vacation saving fund– Putting a little bit aside each month will only allow this number to grow.
- Take advantage of credit cards that allow you to earn miles or free hotel stays– This is extra money that you can use toward excursions when you’re on vacay.
- Look for inexpensive vacay destinations– Last minute specials or traveling off-season are the money saving times. Be smart!
Source:Yahoo!