You have the idea of going on an interesting tour, but you do not have enough money for the trip. Is it worth applying for a loan in this case, or to give up on the dream and sit at home? Today we will talk about it with the support of MyFin (read more).
It is quite clear that there is no simple answer to this question. Some will say: you need to live here and now, not someday tomorrow. Others sacredly believe that “vacation in installments” – is a sign of infantilism and psychological immaturity. Let’s try to assess the pros and cons of a vacation on credit – objectively, of course, as much as possible.
The main disadvantage of a vacation loan
In fact, it is on the surface: for a short-term trip will soon have to pay for it. This alone can hopelessly spoil your mood when you return from the coveted tour. The pleasure of it will be behind, but the payments on the loan will only begin…
According to psychologists, this circumstance is what differentiates the best of loans from the purchase on the installment of the same car or refrigerator. Personal transportation and home appliances we will use for a long time, enjoying every day. But it is different with vacations: the money is spent, and the trip is just a memory.
This is probably the only disadvantage of a travel loan. This is enough to keep many people from even thinking about taking out a vacation loan. Nevertheless, there are many situations in which a loan is appropriate.
When a vacation loan is appropriate
For example, in the case when you already have the basic amount for a trip, but to cover the full cost of the money is not enough. If the trip is long-awaited for you and interesting, the rejection of it will undermine you psychologically much stronger than the debt to the financial institution. There are other situations in which, at a minimum, a loan is worth thinking about:
The urgent need for a vacation – you worked so hard that it is impossible to go further, so as not to die of overwork it is better to get into debt and properly distract from everything;
you were sent on vacation, but you have very little money right now – in this case, maybe you should not postpone the trip for six months or even a year, but take a loan;
The “hot” tour came at a good price – if it is the trip of your dreams with an incredible discount, is it not an excuse to think about a loan?
However, you should be careful with the terms of the installment plan: some organizations set such an interest on payments that no one vacation – you definitely do not want.
If you travel often and like cashback, I advise you to get a debit card with a cashback program or a card with travel privileges.
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