Optimal Finance Daily - Financial Independence and Money Advice 3096: Should You Go On Vacation If You Have Debt by Michelle Schroeder-Gardner of Making Sense of Cents
Apr 4, 2025
Michelle Schroeder-Gardner, a financial blogger and author of Making Sense of Cents, dives into the balance between enjoying life and managing debt. She emphasizes that vacations shouldn’t lead to more debt, sharing strategies for affordable travel like budgeting, staycations, and utilizing credit card rewards. Practical tips ensure you can enjoy a getaway while prioritizing financial responsibility, reminding listeners that a fun trip shouldn't compromise their financial health.
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Affordable Travel Tips
- Travel affordably, even with debt, by exploring staycations and budgeting.
- Consider camping if you have the gear, or use short-term rentals like Airbnb.
Avoid Vacation Debt
- Avoid taking on more debt for vacations; it creates stress and regret.
- Focus on positive memories, not financial burdens, from your trips.
Personal Debt-Free Journey
- The narrator avoided vacations while paying off $30,000 of debt in 11 months.
- They acknowledge they might have made a different decision if it took longer.