I am always conscious about spending. With three children, we budget and ensure that we don’t overspend. However, there are some occasions where we tend to spend more than we do normally – Christmas and birthdays being the obvious.
And then comes summer…
I find that the summer holidays are quite heavy on the pocket. To keep the children entertained, we need to have some days out planned even if a short holiday has been booked. In fact, sometimes it falls more expensive to have several days out than book a holiday.
Luckily for me, we get invited out to events quite a bit so the children do get a fair bit of entertainment.
A holiday is another expense and can be quite dear depending on where one goes and for how long. There is also type of accommodation, board (all inclusive or just breakfast/dinner) and sightseeing.
It is getting increasingly more expensive to book a holiday during the school holidays even if booked well in advance. And obviously, if you go during term time, you are likely to be hit by a fine. So, if you want a holiday, you have to cough up whatever the hotels, airlines etc charge.
I have sometimes thought about splurging and taking the children to a destination like Disneyland Florida for a good, all inclusive two week break. It would mean saving towards it or taking a personal loan. With the rise in interest, taking a loan is not the wisest decision. Besides, when you think of it, it’s probably not the wisest decision to take a loan to go on a holiday. Full Stop!
There are quite a few organizations that do offer low interest loans and I recently came across Lending Works which is a peer-to-peer lending platform. I’d never heard of something like this so I was quite curious to find out more. Because there are no financial institutions in the middle, the lenders receive good returns and the borrowers receive low interest, personal loans.
It sounds like a good deal to me but I haven’t tried out the service myself.
Would you take a loan to fund a holiday? Leave me a comment – I’d love to know your thoughts.