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Managing Summer Vacations And Debt

Are you facing down bankruptcy but trying to keep life moving as normal? Maybe you’re trying to work your way out from underneath a mountain of debt but still want to spend leisure time with family this summer. You’re not alone.

Debt From Vacation Expenses

Avoid Debt From Vacation Expenses

There are lots of ways that you can manage your regular life while working your way through the debt repayment or bankruptcy process. There are many reasons for being in a difficult financial situation, but with hard work and a lot of effort, you can get yourself out of debt. You may even be able to avoid bankruptcy.

 

Today, we’re going to cover some tips for managing summer vacations on a budget. Leisure time is important, but it’s not worth racking up tons of credit card debt. Plus, there are lots of ways that you can spend time with loved ones and relax in beautiful weather without spending a fortune.

 

Don’t Go Into Debt For A Summer Vacation

Summer Vacation Debt

While it’s likely that one short vacation won’t put you into bankruptcy, shelling out tons of money for short-term pleasures may indicate a larger pattern of bad spending. Since the rise of social media, it’s extremely easy to fall victim to the comparison trap. There’s always going to be people out there with more money and free time who can afford to go on luxury vacations to Italian villas or on scenic Caribbean cruises.

 

This social media-fueled envy makes it extremely easy to convince ourselves that an expensive, luxurious vacation is something that we need to be happy. Even though it may be fun, a vacation is never worth going into debt. Instead, focus on less expensive outings or activities that you can do closer to home.

 

Tips For Managing A Fun Vacation When In Debt 

There are many ways for you to have fun with family without racking up huge debts. Here are some great tips for ways that you can save money (or even spend nothing at all) on your vacation this summer.

 

  1. Be Tourists In Your Hometown

Instead of shelling out money for a hotel room, travel costs, and food while you’re away from home, organize a staycation. Don’t just stay home on the couch—make a point of getting out in your hometown and exploring some new-to-you areas. Check out a new grocery store, window-shop somewhere you haven’t visited before, and (if your budget allows) purchase a sweet treat like ice cream or a cupcake to finish off the day.

 

  1. Do A House Swap

If you want to get out of town but can’t afford to shell out $100+ per night on a hotel room during the peak summer season, try swapping your home with a friend. You’ll both get a few nights in a new location for $0.

 

  1. Check Out Listings For Free Activities Close To Home

When people want to go on vacations, what they’re really craving is time with family away from their usual routine. If you can’t get away for a vacation, resolve to take a few days off and spend them doing fun activities close to home. Start by looking at your municipal parks and recreation department’s website—they usually offer a plethora of free activities, especially in the summer. From a dip in the public swimming pool to an afternoon at the library, there’s lots of free fun to be had.

 

Can You Take A Vacation When In Bankruptcy?

If you’re already in the middle of a bankruptcy proceeding, you may be wondering whether it’s even possible for you to go on vacation. Every situation is different. Ask your bankruptcy trustee their opinion, and trust their judgement.

 

Keep in mind that if you spend money on a vacation, or on any sort of travel-related expenses, you may have to pay more for your bankruptcy. Even debt help from relatives needs to be disclosed when you file for bankruptcy.

Map Of Halifax Nova Scotia Canada

Map Of Halifax Nova Scotia Canada

Looking For Help With Debt In Halifax?

Contemplating something as fun as a vacation can turn into a headache when you’re in debt. It’s hard to enjoy yourself when you’re trying to figure out how to pay off your debts or whether you need to file for bankruptcy. Fortunately, there’s help close by.

 

At Golding & Associates, all our licensed insolvency trustees (formerly known as bankruptcy trustees) are well-versed in bankruptcy and insolvency laws. We specialize in helping you get out of debt while still maintaining your quality of life. Contact us today to get debt help now.