There are a lot of considerable tips that you may want to keep in mind this holiday season. However, it’s hard to even think about going on a vacation when you’re in debt. One of the wisest things you can do involves looking into debt consolidation—well, depending on your situation, of course. America is rife with debt in 2017, and many just don’t know how to approach the issue. They feel trapped, and in many ways are.
Consider some common debts: credit card debt, car payments, mortgages, college loans—the list goes on, and these are all on the legitimate side of things. That is to say: what if you could have an agency pay off both of these loans for you, then revert your payment to them at a lowered interest rate? If you can get a 2.5% interest rate on the combined sum, you’re paying half the interest you were. Previously it was at 5%. 2.5% of a combined $10k sum is $250—that’s a weekend getaway! The best way to find such solutions is to seek professional assistance from organizations that are vetted.
Debt Resolution Solutions
Debt Academy is an online resource that can help you save enough money for a fine family vacation this holiday season. You want to be proactive in resolving your finances. If you haven’t taken any action, do so. But refinancing loans or consolidating them isn’t the only way to save. Additionally, you want to look at your budget and see where you can “trim the fat”. Coffee is a great spot to start. How much do you spend at coffee shops throughout the week?
If you get one $3 coffee daily, that’s an average of $1,095 a year. Try this going into 2018, perhaps: buy a coffee maker and some grounds, and don’t get a single cup of coffee that requires you to pay for it. You could save $1,000. Now that’s enough to have a serious weekend getaway, and it won’t put you deeper in debt!
You can also cut costs in other discretionary areas. Fast food. Treats at gas stations. Excise those two things and save another $1,000+. Now consider your financing situation. If you’re financing furniture, a car, or a house, you may want to look at what you can sell to end the financing. Put the money from the sale against your debt, and tread water until you can afford to spend more.
Savvy Financial Planning
You can vacation how you want if you pay off your debt. For example, if you’re ever in Ocean City, you might check out affordable accommodation located on the white sandy beaches overlooking the beautiful Atlantic.
Be savvy enough and you can put together a travel fund, then visit diverse tropical locales or other destinations which may not be traditionally known to tourists, like Maryland’s own Ocean City, or anywhere else you’d like to go. Nothing is impossible, it just may take a little time to get right.