pay debt or save for trip?

[nellyru]

We have a considerable amount of debt that we have been paying off, but our 10th wedding anniversary is coming up and we want to surprise the family with a trip to our "other" home- WDW!
Do we save for the trip or pay off debt and then charge the trip!?!?

 

[Marionnette]

We have a considerable amount of debt that we have been paying off, but our 10th wedding anniversary is coming up and we want to surprise the family with a trip to our "other" home- WDW!
Do we save for the trip or pay off debt and then charge the trip!?!?

Pay off the debt. Once you have it paid off, then you can start saving for an anniversary trip to celebrate your 15th or 20th anniversary.

If you want to do something special for your 10th, how about a romantic weekend alone and a really nice dinner?

ETA: I see you added a poll. I choose "other". There's no way that I would pick any of the choices you have listed.

Charge the trip and add to your debt?!!!! That's insane. You're just piling more debt onto existing debt.
Save a little each month and pay a little extra on each debt? You'll accruing interest that on the debts while money is sitting in the bank waiting to be spent on a trip.
Pay minimum on the debts and safe (sic) for the trip? Probably one of the worst of all of your options.
Pay off at least one debt and then start saving for the trip? Why stop at one debt? Pay them all off and then start saving for a trip.

ETA: Wow! I just looked at the poll results and the votes aren't private. Anyone who is logged in can see exactly who voted in the poll and how they voted.

 

[jmartinez1895]

IMHO, if you are going to charge the trip then you might as well just use the money and pay for the trip rather than pay down a card and then charge it up again. You might could save a little bit of interest, but it just seems to me to be easier to pay for the trip. Also, some cards are lowering limits if you are near the limits on other cards. We payed one card down in hopes to to use it for a purchase that we were planning and before we got a chance to make the purchase the card issuer lowered the limit.

 

[Sunnywho]

I agree that if there is considerable debt, then a disney vacation is not a good idea. A disney vacation is considerable debt in itself.

If you have a disney visa, then any trip put on there gets 6 months 0% interest. That would delay the time until you have to pay.

 

[ilovemk76]

We have a considerable amount of debt that we have been paying off, but our 10th wedding anniversary is coming up and we want to surprise the family with a trip to our "other" home- WDW!
Do we save for the trip or pay off debt and then charge the trip!?!?

None of the above.


All the choices at really the same. You have considerable debt and you want to go on vacation. Whatever you save is really financed. If you pay off a debt then run it up again then it is financed.

 

[amylevan]

This is why Americans are so far in debt...

Pay off your debt.

 

[mrsklamc]

If you have considerable debt, I would not go. I know it's your tenth anniversary, but if you go often enough that it's your 'other home,' it's likely part of the reason you are in 'considerable' debt.

If you are going to go no matter what, financing would depend on what the debts were and what their interest rates were.

 

[TheShea's]

Pay off your debt.

Disney World will always be there.

And, if you so desire, so will your debt if you don't address it and reign in your spending. A trip to WDW only works against your financial goals at this point.

 

[dizluvah]

i know it sucks to hear - but I agree with the others.

You can't afford a trip to Disney if you have considerable debt.

Don't Go - reevaluate your special 10th anniversary gift idea

 

[ICF]

You need an option that says....

Dont take a trip and pay off debt.

If you have "considerable" debt, you shouldn't be taking a trip to Disney -- especially since it seems as if you've been many times.

 

[bopper]

Pay off the debt and then save for the trip and then take the trip!
Let your present to yourselves be debt-free-ness!
Otherwise you are just staying in the debt trap.

Think how awesome and not guilty you will feel when you are free and clear and can afford a cool vacation!

 

[pocomom]

You are saying considerable amount of debt, and mentioning charging your trip- so I think most are assuming "bad " debt. I guess my opinion depends on what kind of debt you are talking about, if you have a car payment and a mortgage and you pay monthly on time, I see no problem saving up for a trip and taking it before either are paid off. If you have loads of credit card debt and are only making the minimum payment, then then I agree with the others... even a short modest trip to Disney can cost thousands... a nice dinner out or even a one night romatic getaway for you and spouse could still be lovely without putting you further in the hole.

If you are taking the trip regardless, then I would look into which saves you the most in the long run. If you get a 0% offer and can pay it off before it expires than charge the trip, otherwise pay off the highest interest debt first and save what you can. But seriously, consider if this trip is really worth it.

 

[ManyMinnie]

If you have considerable debt, I would not go. I know it's your tenth anniversary, but if you go often enough that it's your 'other home,' it's likely part of the reason you are in 'considerable' debt.

This would be my answer.

 

[TiggerTails57]

Pay off your debt.
Follow Dave Ramsey baby steps................

 

[Sinderelly]

Agree with everyone else. Pay off all debt. Save for your vacation. You will be able to totally enjoy your WDW trip knowing you didn't have to go into derbt for it.

Then try to stick to a couple rules. NEVER put anything on a credit card that you can pay off before it accrues interest. The only things you should ever buy on creidt are a house and/or a car.

 

[Granny square]

Did you really think that charging a trip when you are already in "considerable debt" is a good plan? Really?

 

[pigletto]

I agree with the others, but would add that it doesn't have to be all or nothing. Why not take a much smaller amount and do something really special for just the two of you? I think if you can, it's really nice to mark the milestone with a weekend away and a dinner and you could look for a fantastic deal. But in the long run, not adding to the debt with a Disney trip will likely save you some serious stress and THAT is a gift

 

[StitchesGr8Fan]

We have a considerable amount of debt that we have been paying off, but our 10th wedding anniversary is coming up and we want to surprise the family with a trip to our "other" home- WDW!
Do we save for the trip or pay off debt and then charge the trip!?!?

You don't do either. You pay off debt and then SAVE for a trip, you don't turn around and wrack up debt after you just paid it off.

 

[LoriKutchey]

I think the very best anniversary present to yourselves would be to pay off your debt instead of running up more.

 

[SCDisneyMom]

I agree with everyone else - pay off your debt first. A Disney trip will only add to your financial stress. You'll feel a lot better once it's paid off, and then you can begin saving for a vacation.