As a child, I never really traveled much. My parent’s didn’t organize luxurious vacations every year although we did take one wonderful trip to Cancun, Mexico when I was in 4th grade. That was about it. Not vacationing with my family or even taking small trips to see other states really didn’t bother me or affect my upbringing in any way.
During my junior year of college however, the opportunity to study abroad in Ireland was brought up and I became very intrigued. I had never been out of the country before, besides Mexico that one time, and I was eager to get out of my boring college town. When I attended the study abroad informational meetings I almost completely wrote off the idea due to the ridiculous price, but something in me just could not shake the idea of traveling.
I Went For It
Long story short, I gave in to my curiosity and pursued joining the program. I applied for scholarships and grants, saved up money from my part time job and used some of my tax return to take that 4 week trip to beautiful Dublin, Ireland.
Needless to say as soon as I stepped off the plane at the Dublin International airport, I was bitten by the travel bug. My four weeks spent learning and living in Ireland were unlike any other. I met so many friendly people and tried so many things. We walked almost everywhere, embracing the hustle and bustle of the busy downtown Dublin area, the theatre district and the historical sites as well. We hiked around the country, took a political taxi tour of Northern Ireland, and even took a ferry to the far west coast and biked around the tiny and intimate Aran Islands. I learned about Irish media and culture amongst true Irish people. Even though it was difficult to leave my son and my life at home for 4 weeks, it was a truly unforgettable experience that I’ll never regret and always remember.
The Hard Truth
The truth is, regardless of how passionate I am about traveling and seeing the world, I was in debt before I chose to study abroad and the trip also contributed to more of my existing student loan debt. Back then I wasn’t as financially conscious as I am now. While I can’t turn back time and tell my younger self what I know now about personal finance, I can change my habits for the future.
So I’m stuck with a dilemma. I long to travel, probably with my family this time, to create lasting memories within moments, step outside of my comfort zone and see the way different people live and operate throughout the world, but my financial house is not in order at all right now. Traveling could possible create more debt while I’m currently trying to shovel my way out of debt.
So I often wonder Should I still try to travel even though I’m still in debt?
Shifting Viewpoints
When I started to get into personal finance, I thought the answer to this question was simple. I would work hard and diligently to pay off all my debt, while beginning to invest and save more. I would have to sacrifice a lot, including traveling. While my fiends took off on trips throughout the year I would remain strong and stick to my plan no matter what.
Now, my perspective is not as clear. Of course I want to improve my financial situation, but I also want to enjoy life right now, in this moment. Traveling has become very important to me and I long to find a balance between living for now and saving for the future. I don’t want to be stuck in the same state my whole entire life and never see anything else.
There’s so many different people, places and cultures out there and I want to explore them. Now that I’ve learned about budgeting and side hustling I can work harder to pay off my debt, invest in my retirement, AND set some money aside to travel smartly and utilize discounts and rewards to cut the expense of the trip.
My Conclusion
Since I’m nearly at the beginning of my debt repayment journey and getting my finances together I’ve decided to put off international travel for now. I can really jumpstart my debt payments and eliminate some interest by aggressively saving and increasing my income. However, I do plan to set up a checking account to deposit travel funds into but traveling will not be a priority as of now.
For now I plan to take small, more affordable mini trips with my family. It is a big world out there, but it’s also a big and diverse country and I can feed my urge to travel by starting to explore some of the attractions around me to start. I plan to check out national parks and landmarks, great attractions and more in bordering states and towns and then expand my horizons from there.
Being in debt doesn’t mean you have to cut out everything from your life and some times it does. But I feel like I have a good grip on my situation. And there’s just so much to see out there so I’m comfortable with taking travel baby steps as my situation improves.
What are your thoughts? Have you ever traveled when you were in debt?
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I never traveled much growing up either and as an adult, there’s nothing I want to do more than see the world. I think you can still travel will in debt – there just needs to be a balance. Like you said, it’s probably not a good idea to do a lot of international travel right now but in moderation, it’s possible. Plan ahead, credit card hack, look for cheap hotels, etc. Depending on where you go, food can be really cheap. I hope you get to travel more in 2015!
Thanks Connie! I hope so too 🙂 Traveling is not a huge priority for me this year but I’m more confident now that I can find a happy balance between the two
I did my student teaching at an army base in Germany I was there for about five months and on the weekends (we had several three day weekends, also, because the base observed American holidays) I traveled Europe and I just fell in love. My parents were shocked when I ended up not taking a teaching job overseas and chose to stay in the U.S. I would love to start travelling internationally again, but I think it will have to wait until my kids are older.
It sounds like you got to explore Europe in a unique and cost effective way. I understand you wanting to wait until your kids get older, I’m sort of in that boat but since my son will be 5 this year I think he might have some memory of any light traveling we do.
I agree. I love travelling, but my debt is too out-of-control right to do the international thing. Someday, my fiance and I will be in a better position and we can take that trip to Iceland we’ve been longing to do.
Iceland sounds nice! It’s great that you are prioritizing your debt though. I feel that if I do the same it will pay off in the long run.
I am paying off debt and still travel. I choose to take one international trip every other year, instead of every year like I want. I also have used credit card points, stay in hostels and search for cheap trips. I don’t travel if it’s not cheap. It’s definitely a balance and a personal choice!
Those are some great ways to cut the costs of travel. I’ve started trying to earn points with this American Express Gold card I just opened the other month, but I’m not trying to go overboard with it right now. If I can get the points to score a free roundtrip flight somewhere in the future I’ll be happy with that.
Oh man I hear ya! While paying off debt is not my issue, lack of steady work as a freelancer along with other competing goals like retirement (and feeling behind at 44) has made me less of a traveler than I want to be. But if all you do is work/pay debt, and repeat the cycle, like can get pretty sucky. So I think you’re smart to focus on those smaller getaways right now that will still give you good memories, but won’t cost and arm and a leg. BTW I have always wanted to go to Ireland!
I feel the same way. My goals are definitely a priority but gotta live some time. And Ireland is beautiful! I don’t understand why it always get played down when people think of visiting Europe because countries like Spain, France, and England seem more popular and exciting. But Ireland is truly wonderful, and no matter where you go, you can really get a sense of the culture there. The people are super nice and there’s plenty to see and good food to try 🙂
I loooove traveling! I actually traveled internationally through my main debt repayment period and made it work. I haven’t been traveling much lately but I’m already planning future trips. It all just depends on how much debt you have and how you feel about towards it. Putting your life on hold for a bit isn’t a bad idea but it’s also nice to live a little!
I agree. And I’m really appreciating everyone’s feedback as this is an ongoing thought/issue for me. An international trip might not be on my calendar this year but I’ll be sure to find plenty of fun low cost ways to experience travel 🙂
I’ve done quite a bit of traveling while I was in debt (since I’ve been in debt my whole adult life until a month ago!) As far as international travel goes, I’ve been to several European countries, to Canada, and to Turkey. I’d love to expand that list. However, my limited travel funds (and even more, my limited time) right now mean that I’m focusing on trips to see family/friends. I’ll get back to overseas eventually. I think my advice to someone carrying quite a bit of debt would be to really focus on the debt for at least a year before you think about traveling (the exception might be if you had a place to stay — friends/family — and just needed to buy a relatively inexpensive plane ticket.) After you’ve really reset the clock on your finances, then start saving up for a trip in a separate bank account; don’t go further into debt in order to travel, but you could slow down debt repayment a little in order to fund that savings account. (This is one thing I did right; I didn’t drive myself into permanent debt over any of my traveling. I saved hardcore before I went, and if I came back with more on the credit cards than I could immediately handle, I worked hard at paying it off quickly.) In the meantime, I’d do exactly as you plan, and get to know my own area better. There’s lots within range of where you live. You could even probably spend a week just being a tourist in Chicago — I bet there’s lots there that you’ve never done.
Thanks for the tips! And yeah, I’m looking forward to checking out some attractions near me and maybe planning a day trip somewhere down the line but this year is hardcore debt payoff time.
This is a struggle for us too. We have traveled while in debt. It’s a hard choice but in the end I feel like the memories are worth the extra cost of the debt. We don’t go on crazy expensive trips and we are as frugal as possible while we travel. I think the memories and experiences are truly priceless.
As I get older I’m realizing how important is it to create memories and experience things rather than owning a bunch of material possessions. Glad you got to get some traveling in!
We do not take luxurious trips and haven’t had a true vacation in years, but we do travel. Pre-kids, I ran marathons and we would travel out of state to neat destinations for a race here or there. I desperately want to pay down debt, but I also want to live my life and make memories with my family. I won’t plan anything over the top, but I think it’s not necessarily a bad thing to plan some small, memorable trips that aren’t terribly expensive. I’ve been toying with the idea of rewarding ourselves with trip every time we pay of one of our largest loans, that way we do stay motivated in the doldrums of debt paydown and have something exciting to look forward to.
Traveling for a marathon sounds pretty cool. And luxurious trips are very tempting but now that I’m so wired on debt repayment each month I don’t think I’d be able to go overboard with a luxurious trip knowing that it created more debt on top of the ton of debt I’d have to worry about when I got back home. I wouldn’t be able to relax or have fun which would defeat the purpose of traveling for me in the first place. But smaller more affordable local day trips and mini vacations are definitely a must for me.
I believe that you are making a great decision to slow down with international travelling. What you could do is start a traveling fund and save for a yearly trip abroad. In the meantime, put some gas in that car and head out and see what’s around you. You will be amazed at what you can find.
I am in a unique situation where I am retiring from the military so I will have a check coming to me each month for the rest of my life. I have decided to move to London for school and see Europe while over there. It is a lot out of the box for me expecially with a 8 year old by myside, but I just feel you only live once and when will we ever have this opportunity.
Good luck and I can’t wait to see what is in store for you.
Wow that sounds exciting. Seems like all your hard work has payed off and you definitely deserve it. A travel fund is a great idea as well 🙂
My parents never really took us travelling much either. I do want to travel, but I probably won’t be doing much of it while I’m in debt. Luckily, I don’t know what I’m missing yet as I still haven’t really travelled much, haha.
I hope you get to travel some time Kayla but I definitely hear you on the debt part.
I travel to a new country every year and I’m currently paying off debt. Travel to me is important so I make it happen by limiting my spending in other areas like entertainment, clothes, and food. You really do need balance but at the same time, only you know what you’re comfortable with. If you’re cool with local vacations, stick with that! The world will be here when you’re ready to travel 🙂 I wrote a post a few months ago on travelling while you’re in debt if you want to hear my ramble on this topic 🙂
Thanks Christine! I’ll definitely have to check that out. Have a great weekend!