Broker Check


May 30, 2018


How To Take The Vacation You Need When You Can’t Afford It

DEADLINES, BILLS, CARPOOLS, EMAILS, SCHEDULES and general ADULTING… Who doesn’t need a vacation?  Everyone needs a break sometimes.  What are we doing if we can’t take time to enjoy the things that really matter in life like family and friends?  Vacations do matter. They give us the time we need to reflect, revive and regroup. Then, we can come back to the responsibilities of life with a clear mind and a rested soul.  But what happens when we can’t afford the time away that we so desperately need?

Is A Loan The Answer?

Should you even consider taking out a loan for a vacation?   There are innumerable companies that are in the business of handing out loans. And yes, loans can be helpful in purchasing a new car, paying for school, or buying a home.  But, when it comes to luxuries, taking out a loan for a vacation can be risky.

Vacation loans are not a new idea, but they do bring out an ambivalent attitude among audiences. Some people feel that it is not a big deal to take out a loan for a good vacation since they can always pay it back. Others feel that if people don't have the money to go on vacation, then they simply don't get to go on vacation. Let’s be honest…if you can’t afford to go on vacation, taking out a loan for this purpose will probably only put you and your family in a worse financial situation.  Who wants to come back from a wonderful vacation to only be stressed with the reality of another bill that you are unable to pay.  Simply put, if you feel uncomfortable taking out the loan or know you can’t repay it, then do not apply for a vacation loan. You don't want to have feelings of regret after going on a trip that is supposed to rejuvenate you. Not only would it ruin the experience, but it will make the loan repayments bring up feelings of regret monthly. You would also need to plan on how to pay back the loan once your vacation is over. It makes no sense to place a loan in your name if you know you can't afford another bill. It is a necessity to look at your personal finances and rearrange your budget before deciding if a vacation loan or any other loan is right for you.

   I’m Tired!!! What Are My Options???

Sometimes we come to a point in life where a vacation becomes a necessity.  However, a vacation does not always equal getting on a plane and staying in expensive hotels.  If you can’t afford it, your purpose would be defeated and you would only create additional stress.  We have to remember that a vacation is not always about location but can be a state of mind.

If there is no way, create one. -Unknown

Most times when we think of a great vacation, we imagine beaches, white sands and water skiing just to name a few.  But, what would happen if we shifted our thinking.  Think about the options that you have around you that will give you the break that you need and won’t break or destroy your budget.

  • Look for Great Deals

Maybe you really can afford it, but not at the going rate.  Searching travel websites for great deals can open more opportunities for travel and vacations in new places. Keeping an open mind about the location of your vacation can help you to find the best deals and bring you to places you never thought you would go. Decide how much you can spend ahead of time so that you don't get caught up in the "value" of the deal, look at the ending dollar amount and decide if it is a great opportunity for your wallet.

  • Take a Stay-Cation

 We do not remember days, We remember moments. -Unknown

Staying home may not be the most ideal location for a vacation, but it will keep money in your pocket. You can plan a personal spa day or a fun weekend of activities in your local city. There are new experiences to be had all around you.  The key is opening your mind to the possibilities.  You can still have a break from your normal schedule and be able to stay on top of your budget.

  • Go Camping

If you have some old camping gear sitting in the garage, break it out and plan a trip. There are most likely plenty of camp sites in your local area to choose from. This can be a great option and will get you more in touch with the great outdoors. However, don't feel the need to go out and buy expensive camping gear if you don’t already own it. Ask around to see if you know people with the gear you need.  You can always borrow what you need from family or friends.

Don’t Do This…

It may be tempting to use a credit card to fund your dream vacation, but the same issues arise with a credit card as with a loan.  The only difference with this option is that you would be borrowing against yourself.  Using a credit card on a vacation can help you get the benefits offered by the creditors and allows you to pay for your vacation later. However, it is necessary to be mindful of how much is being charged to the card since the payment balance fluctuates based on the amount used.  No one wants to come home and have a huge minimum balance due on a credit card with a high interest rate.

   What You Can Do…

Enjoy your vacation with peace of mind. -Unknown

Let's face it… everyone needs a vacation at some point. If you're looking towards a future vacation and want to avoid the risk of debt, START PLANNING NOW!  

  • Research when you can find the best prices for flights or plan to go during the off season when prices are lower.
  • Look into the option of traveling to visit relatives and see if you can stay with them and avoid the cost of hotels.
  • Look at your current budget to see if you can put even more away to splurge a little extra on a vacation. Any way to save money that works for you will bring you one step closer to the vacation you want.  All the hard work and discipline will be worth it in the end when you get your well-deserved break.

The vacation season is upon us.  We just have to remember that vacations come in all shapes and sizes.  We can shape our vacations to fit our lifestyle and budget.  We here at Timothy Roberts & Associates LLC really hope that this information has been beneficial to you.  Please share this blog with your family and friends.  Follow us on Facebook and LinkedIn.  Don’t forget to check into our website at for more valuable financial information.  Tune in for more on next Wednesday and remember… Your Interest is our Only Interest!