But I also wanted to travel.
Or heck, maybe you just want a vacation.
Most experts recommend paying off debt before you travel, and it makes sense.
Still, there are ways you’re able to balance both goals.
Stick to your debt repayment plan.
Your travels shouldnt set you back, and they shouldnt undo how far youve come with your debt payoff.
You may or may not be able to snag zero percent interest.
But this tip brings up an important point: interest matters.
But if youre planning to travel, you also want to prioritize with your travel goals in mind.
But what if youve got $30,000 worth of student loan debt at only one percent interest?
While some would advise to absolutely pay off all debt before traveling, not everyone agrees.
But is being debt-free my top priority?
It also doesnt mean I ignore it either.
Its a balance between my responsibilities and the things I enjoy in life.
Some agree with her justification; others wont.
Find Your High-Priority Debt
In the full article, she advises that bad debt should take priority before traveling.
Generally speaking,bad debtisdebt thats not considered an investment.
Butgoodorbadmight not matter as much as the interest rate on those debts.
But you also want to consider the length of your payoff.
Everyones situation is different, so how you decide to plan debt around travel may vary in some ways.
Make a list of your debts, then come up with a plan for which should be paid first.
When youre planning, just see to it to prioritize any high-interest consumer debt.
And planning it gives you something to look forward to, too.
Maybe you could afford a more modest, smaller getaway.
My debt-cations were usually camping trips or trips to the beach to stay with relatives.
Alternatively,plan a road trip.
Even astaycation can be plenty of fun.
Most importantly, though: theyre cheaper.
And when youre in debt, you might have to find a cheap way to scratch your travel itch.
Instead of taking time off work, you couldwork while on vacationbut that might not be so dreamy.
You may also be able totravel for cheap if you volunteer.
You wont be earning a living, and youll probably still have to pay for many travel expenses.
But its a budget option if youre still tackling your low-priority debt.
Consider volunteering with theNational Park Service.
Or,teach English overseas.
You could alsohelp out with scientific research.
In some cases, you may be able toapply for a travel grant.
The Telegraph reports:
Believe it or not, some organisations exist with the sole purpose of funding travel.
Debt can feel really stifling.
Its sounds boring, but the point of financial security is actually pretty exciting.
When it comes down to it, its about being free tonotworry about money so much.
And traveling is a lot more fun when youre worry-free.
