Should I Borrow Money to take my Children on Holiday?

Parents have a lot of pressure on them these days and the pressure to take their children on holiday can be one of them. There will always be some children in their school that go on lots of holidays. They might go abroad or travel in the UK multiple times a year and it may make you feel like you should do the same. You children may even pester you to take them away on holiday. If you do not have the money to take them on holiday then you may wonder about borrowing the money to do so.

Advantages of a holiday

Of course there will be many advantages to the children and you having a holiday. You will get to do fun things that you do not normally do. You will be able to spend more time together. You can explore places that you have no visited before or spend more time at places that you enjoy going to. It all sounds like great fun. When you see pictures of families enjoying holidays it can make you just wish that you will be able to do some of the things that they have done. However, it is worth being realistic. When you go on holiday you will still be the same people as you are now. Those people that perhaps hide behind their mobile devices and do not talk much, love spending too long in bed or flopped in front of the TV. Going on holiday may not change this and so you may not spend more time together. In fact you could just make the effort to more together when you are at home and enjoy that without having a holiday. If you like exploring new places then there could be local attractions that you could go to which would be fun and that you may not have gone to before or perhaps have not been to for a while. If you make the effort you could still do lots of fun things that you do not normally do and you do not need to go on holiday to be able to do that.

Disadvantages of a loan

Borrowing money can seem like a quick and easy solution. You will know that you will be bale to get the chunk of money and it will allow you to afford the holiday. This seems really great, but it is easy to forget that you will have to repay it. Not only will you have to repay what you have borrow but there will be interest payments and maybe other charges to make as well so you will find that you have to pay quite a bit extra for the holiday than it might first seem. It is therefore worth calculating the costs first and thinking about whether you feel that it will really be worth it. Then you need to look at how much you will need to repay each month and whether this is something that you will be able to cope with. It might be that you will struggle to make those repayments and that it will be stressful for you to be able to do so. If this is the case then it can be worth forgetting the whole idea. Going through all that stress just for a week or two away is surely not worth it. If you can save up for a holiday or use savings that you have already accumulated then this could be a good alternative to a loan. Then you will not have to worry about repayments and have all of the stress of finding the money each month, but you should be able to replenish your savings when you can afford to and there will not be so much pressure to do so.


It is well worth thinking about what you might gain from a holiday and whether it really is worth it. If your children are young they may not remember the holiday anyway and if they are older then they may rather just be playing on a computer or looking at a mobile phone. They will have opportunities to have holidays when they are older and many children have wonderful childhoods without needing a family holiday to add to their memories. If the holiday will cause you stress and to struggle financially then this will not be worth it, the memories will be marred by the difficulties that you had afterwards trying to cope financially. So, although borrowing for a holiday may seem like a great way to give your family a lovely treat, it is well worth thinking hard about the benefits that it will really bring and whether these will be worth it. Consider the costs and the consequences as well as the benefits and you should be able to make the right decision for you and your family.

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