X

Christian Living

Finance

Dave Says: Vacations and Getting Out of Debt

Dave Says
Author Biography

Dear Dave,

Should you skip vacations when you’re getting out of debt? Also, once you’re debt-free, is there a rule as to what percentage of your income you should use on vacations?

– Carl

Dear Carl,

I think you should put vacations on hold while you’re trying to get out of debt. My family and I didn’t go on vacation for nearly 10 years while we were getting out of debt. Why? Because we had work to do! We had bills to pay and kids to feed. That’s just the way it goes sometimes.

I’m not sure that there’s a specific percentage involved in vacation spending. It definitely shouldn’t damage your financial foundation, or put you back into debt once you’ve worked your way out. You don’t touch your emergency fund to go on vacation, and you don’t stop funding your retirement or saving money so the kids can go to college. You just save up, and pay cash!

In most cases, this kind of plan will almost force your vacation spending to be a reasonable percentage of your income.

Dave

 

Loading Webform

Can We Pray For You?

Error: There was an internal error submitting your form. Please check your information and try again or call us at 1-800-759-0700

Get FREE "He Cares for You" teaching sheet

Build up your faith as you meditate on inspiring Scripture verses of how much God loves you

Get more than a Sunday sermon. Get to know others seeking God’s guidance and wisdom for life.
We are here to help and encourage you! Send a prayer request now, or call 1‑800‑700‑7000
Can God change your life? God made it possible for you to know. Discover God's peace now.
Download the free myCBN app. Share your prayer requests, receive prayer and pray for others!
Living the Christian life is a journey. Discover steps to bring you closer to Christ.
Give Now