I’m not going to be able to make my $2000 line of credit goal this month, and the reason is a little bit embarassing.
I’m going on vacation.
No, I didn’t get sucked into a last minute group trip or decide that “I’ve earned it” or anything of that nature, the trip has actually been planned for quite some time. Right around the time I paid off my debt last April, friends of mine got engaged. They decided rather than having a big hoopla at home, they wanted to have a much smaller wedding on a beach in Hawaii. By smaller, we’re talking a total of 10 people (bride and groom included). The Boy and I were two of the people invited. We started looking into flights and accomodations last summer, and paid cash up front for them back in June. This is my first time going to Hawaii, and from what I’ve researched and been told it’s not a cheap place to vacation. The Boy and I had originally planned to go all out, but when we started adding up the costs we realized exactly how much money we were talking about. Larger ticket items like a helicopter tour around the island were scrapped in favour of our must do list items: learning to surf for me, and a round of golf for The Boy, among other things.
We’ve done up a couple spreadsheets, and estimate that our remaining expenses for the trip will come out around $1000 per person. I have part of the money saved up already, and the plan was to divert all of my extra money towards saving for the rest of the trip after reaching my $2000 line of credit goal.
The Boy has been watching the currency rates for the last little while, and he told me the other day that he’s already pulled out the money for the trip. $1000 American is going to cost me $980 Canadian, which is great, but it means I need to have that money ready for him earlier than I anticipated needing it. It’s going to be diverting about $600 away from my repayment goal.
The cost of diverting that money for a month is only about $4 in interest, which isn’t a lot, but that’s beside the point. It’s just incredibly embarassing to admit that I’m not going to make my debt repayment goal this month because my vacation is taking priority. I feel like I belong on Princess. Oh geez, I can just imagine what Gail would have to say about this.
Had I been treating my line of credit like an actual car loan when I bought my car in November, the current balance on it would still be somewhere in the vicinity of $8800, so I shouldn’t be too hard on myself. That being said, no one ever said paying off debt was easy. Seriously though, I want this debt gone now.
I should start rounding up my tax paperwork.
What is the worst thing you’ve ever diverted money from debt repayment for?
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Cassie, I totally understand where you’re coming from, and normally I’d never be an advocate of blowing your budget for a vacation, but it sounds like you’ve really come a long way as far as getting out of debt, and that you’ve paid for a lot of this up front already anyway.
I’d say a one-time exception is certainly in order, given you’ve already improved your financial situation so much and since it’s such a wonderful occassion. Have fun!
Thanks Laurie. It’s just the timing that didn’t work out. If I could have given him the money in a month like I had originally planned, I think I would have been able to make my goal.
Oh Cassie… send me a postcard and we’re good.
Seriously though, you’re a smart woman and i’m sure you’ll still have your LOC paid off in no time!!
I’ll see what I can do
It would cost you a lot more if you didn’t go – you’d have to forfeit your tickets and lose some good friends
That is very true
Gail might just approve for Hawaii
Go have fun in paradise. You deserve it!
For Hawaii she’d make an exception eh? I’m hoping it’s as good as everyone makes it out to be!
This might not sound too PF-friendly of me… But I think people are allowed to have somethings when they are trying to pay off debt. Within reason of course. This is a friend’s wedding… GO. It’s not like you’re buying a oversized TV which you already have 6 of at home.
On a side note, I am planning a trip to Hawaii this August for a wedding as well. One of my good friends is getting hitched in Oahu.
The “within reason” is where a lot of people get hung up. I know that this is just poor timing on my side, but man did it look bad when I realized I wasn’t going to make my goal because I was going on vacation.
Have fun in Oahu
Which island are you going to? Yay surfing!! have fun and arch your back
. Please don’t try to surf Pipeline or V-land ok? I’ve diverted money for just about everything in lieu of paying off debt.
I’m heading to Maui. I’m going to have to go google what Pipeline and V-land mean now; I’m such a newbie I don’t know what those terms mean!
First of all go!! I didn’t go to one of my best friends weddings last fall in Mexico and I still hate myself for it. Number two…..worst thing I’ve spent money on when I still had loads of debt….a 3 week trip to Europe. It was well worth it and I dont’ regret it but definitely not exactly PF smart.LOL.
I really can’t say too much about the 3 weeks in Europe, because I did the exact same thing when I finished university – funded 100% on credit.
Nothing about this is embarrassing. I didn’t go to my friends’ wedding in the Dominican in 2008 and I still regret it – FIVE YEARS LATER! Go. And have an amazing time.
Thanks Cait.
Well one thing I’d suggest as a 4-time visitor to Hawaii (I live on the west coast and also stayed with friends who lived there a couple of times) to make things less expensive is pack your lunch on most days (hopefully you have a fridge where you’re staying?) and try to eat breakfast in your room. Food can get very costly in Hawaii so you don’t want to blow your whole budget on that. You want the experiences and a couple nice evenings out. Also be cautious with the activities you choose. Some of them you can rent your own equipment (like renting snorkeling equipment for the week) and you don’t need lessons. The prices are incredibly inflated for tourists. Hope you have a great time!
We do have a fridge, yes, and we plan on picking some breakfast/lunch food up when we get there
Do you have any places you’d recommend on Maui?
We stayed in Kehei, which is kind of far from the action of Lahaina and Kaanapali. They have a lot of condos there, but be prepared for a long drive to those other two places where they have a lot of the cool hotels. Personally if I had to do it all over again I’d stay in Lahaina or Kaanapali. Go to the Grand Wailea though…it’s a pretty sweet hotel. As far as what is cheapest…it’s been awhile so I’m not sure. If you do the road to Hana, leave early…it takes forever with windy roads…and unless you’re driving, take dramamine if you get car sick. Great snorkeling in Maui! Much better than Oahu in my opinion.
Your debt can wait, this opportunity cannot. Roll with it, enjoy it, and have a phenomenal time! You earned it.
Thank Asia
I did the same thing recently with going to Japan/Thailand/Hawaii with my bf and his family – all I had to pay for was half of my airfare, so it was hard to resist that opportunity. Have a blast in Maui – I agree it’s something you might regret in the long run had you opted not to go. If you can, go on the sunrise bike ride down Haleakala (but bundle up, it’s freezing!).