This topic is no fun to discuss and I applaud you for not letting the title deter you from reading. Nonetheless it is a problem that Millennials deal with on the regular, being that social media is where lavish vacation pictures are posted. I speak for myself but I’m sure others feel the same way. Each time I go on Instagram and see vaca pictures, I think that I deserve a vacation and can afford it. But realistically I have no business going on vacation and went out the state twice already. Tis the down-side of being a Millennial, I feel like I deserve the finer things in life. So before you book that trip to Cuba, here are 5 reasons why you can’t afford a vacation.
If you really want to go on vacation and may cry if you don’t,
you should stop reading here.
1. No Emergency Fund
Going on vacation is going to cost you a good chunk of money; in fact the average American individual spends $1,145 to go on a modest vacation. That money can be put to better use of starting an emergency fund. An emergency will happen to all of us at some point and it is important you have cash on hand to be prepared. It helps you be ready for an unexpected car failure, medical expenses, loss of a job and any other types of emergencies. Without an emergency fund you will have to result to paying with credit or high interest loans that put you in the hole even deeper. That is what predatory loan companies, such as Quicken Loans, depend on.
2. Unpaid Bills
This sounds like common sense and yet it still occurs. I have heard before where someone goes out of the country on vacation and come back to a home with no power! It’s simply not having your priorities in order. There is no shame in the game though, if vacation is more important cut back on your bills so you can afford to pay bills before leaving. Having power in your home is more important than laying on the beach with a margarita.
3. Your Sick & Tired of Being in Debt
For those who are swimming in debt and feel suffocated about the debt, I promise you going on vacation will not solve anything. Debt is no fun, literally no fun at all! If you want to be debt free, sacrifices must be made and vacation is a major sacrifice. Put the vacation money towards paying off the lowest debt and get that debt snowball moving. With focus and sacrifice, debt freedom is within reach and you will be able to breath again.
4. One Too Many Big Purchases
Grown folks make grown folks decisions. If you have to decide between purchasing a vacation trip or buying a home, a decision needs to be made between the two. It is never wise to focus on two big purchases because you may lose both. It’s best you remain laser focused on one big purchase per year and make the most out of that decision. No sense in putting only half the effort as it will show in the end results.
5. Goals Haven’t Been Met
I’m a firm believer in work hard then play hard. That is how successful people operate on the daily basis. If you still have goals that haven’t been met which requires cash to complete; the goal should come first. Reaching your goals will help solidify you long-term, put the work in today to relax later.
Vacation is a luxury and it will come in time if you put in the work. If you can’t afford a vacation, start saving monthly or cutback on your current vacation. An amazing adventure can be taken that doesn’t cost over $5,000. Research last minute vacations for discounted prices, go during the off-season or visit sites like Groupon to help with making a vacation affordable.
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