Borrow money for traveling, is it a good idea?

I have heard about other people who did the same thing as your friend. They didn't have any money for travelling so they decided to borrow the money. Personally I would never do that, I don't think that I would be able to really enjoy my vacation if I knew that I actually couldn't afford it and had to borrow the money to travel. Of course it would be fantastic to be able to travel around in Asia right now, it has always been my dream, but I want to rid of my debt first. When I am debt free I will be able to save up a pretty good amount of money every month and then I will be able to travel. I have already made my itinerary, it will take several years before I get rid of my debt and it a little early to make an itenerary but I am really excited about the places that I want to visit and I want to travel around for several months.

I would put the cost of an expensive flight on my credit card. I would then work hard to pay off this debt before my trip. For example if the flight cost £2000 I would try to pay off £300 to £600 a month to clear this balance. In 3 to 6 months I would manage to pay it off. I worked in a school teaching from May to October in 2001. I was covering a maternity leave. In the November I went off to New Zealand. My flight had cost £800. In spring 2002 I came home with a debt of around £2000 on my credit card. I paid off a bit every month and finally it reached zero in 2004. In September 2004 I got another teaching job.

I am a Vietnamese ;)I totally agree with your friend's idea on his vacation. Of course because of the way he works it, not that I am Vietnamese. Like you I am very very interested in travel whole the world although I am a student, no money with poor English. However, if I have time I ready borrow money from parent or close friends for a vacation that I have dreamed for a long long time. I think I am young and I can pay it back. Being a debtor don't scare me :)) Contrast, to pay debt I have to hardly work and as a result maybe I have success in my life due to a big debt :)) In whole my journey I don't care how huge money is or how do I earn money to pay, making me upset and my vacation is meaningless, so just enjoy it ;) Risk is a chance to change your life, I think so, let your mind free and just do what you love, don't care consequences. But I think people like safety shouldn't action like your friend or me. A detail plan and pocket full of money are suitable more than.

Most people save up for their holidays, why is he in such a hurry? I'm not too fond on going over overseas and getting a holiday, they take a lot o money and sometimes they may not be very successful. I did go to another state before to Queensland with my cousins and my family had to save a lot of money to go. luckily, we had cheaper ways to go around like cooking our own food and stuffing like 2 or 3 families into one apartment I had to sleep on the coach and one of my cousins slept on the floor. But we had loads of fun and we tried to make it our money's worth! But taking a trip to another country is a lot of bucks and taking a loan out is a little risky. Your friend will have to pay it back plus interest. Why are people so worked up about a holiday, especially, when you don't have the money for it. Your friend really needs to reconsider and maybe just delay the holiday for a bit, it won't hurt.

This is why America's finances are in trouble--poor decision-making.

This is just another example of spending the money you haven't earned yet. It appears that your friend has already made up his mind about pushing through with his vacation however, in your case it is not yet. Let me give you some advice..when your friend ask you again if you want to come along..this might be a chance for you to revert his decision. Tell him everything that you know of as possible pros and cons of travelling by borrowing money. Just pretend that you are considering his invitation and you are planning to borrow money as well(just pretend..okay!). Then do the reverse psychology and tell him that you were having a second thought though that there might be some other more important things when you actually need to borrow money instead of spending it in a vacation far away. Inform him as to how much your budget is (if you have for a vacation) and offer alternative destination that probably haven't been through yet. You might actually just be able to prevent your friend from getting drowned from debt and at the same time you two might end up having a vacation together at your budget.!

I also don't agree with your friend's travel decision. Of course travel is important, but it is not as important as the food, living expense and so on. It doesn't make a sense to borrow money to have a travel. Since travel is a kind of enjoyment and you shall have it when you have extra money and good plan. I will feel worried to have a load to have a travel since I have to pay it back when I am return. It will spoil my mood to enjoy my journey. I love China

good day kingparker, honestly, borrowing money is not an amiable thing to do. as it is quite difficult when the paying time is nearly coming. wherein, your salary will be at stake. aside from that, it is an additional thing to think off, since you have to pay it soon. and with regard to the situation that you have cited, for me it is not a better idea to borrow money for the sake that you are travelling. it is not a proper way to do, hence, dont travel if you will just put yourself in a consequence of paying a debt.

As much as I want to travel to far flung places, I wouldn't borrow money that big just to satisfy my desires. I would try to save the money from my earnings and see where that would lead me. hahaha... That is the reason why up to now I have only traveled around the region. I just can't make enough money to travel to somewhere far as for now but trying hard to because that is my goal in life. hahaha...

I think your friend just takes too much risks,of course we all love to travel,but my rule is that if i work for several month and then i use my money to go one place,but not borrow money to another place,i feel not safety on road and that would ruin my mood on trip.Anyway,just respect him and wish him have a good journey.

It is not practical way of thinking and act to go vacation without personal money in your pocket. In my personal view, I won't take also vacation as expensive as such may be I can go vacation but it depend where my budget can sustain my vacation and from my savings. Good day!

I think your friend is risking too much just for that vacation. My personal rule is that if I don't have the money, I will not borrow just to splurge it on something that will lose value. Having a vacation is a good thing but being in debt for a large amount I think will definitely defeat the purpose of the trip abroad. If I want to spend, I make sure that the money I'll spend will come from my savings. I also try to limit my expenses on other things just to cover the money I spent or I am going to spend. If your friend is already decided on continuing his vacation, what you could suggest to him is to properly plan his itinerary and expenses. That way, he might be able to save even half of the money he plans to borrow :)