How to Consolidate Debt without Giving Up On Travel Goals.

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Travelling is fun; but not for all. There are people who dream big but have no resources to convert them into reality. And, there are people who do not mind travelling the world on finance. After all, life happens just once! So, avid travelers do things like travelling on credit card, and also by taking loan. To come to the rescue of such happy-go-lucky people, debt consolidation management companies offer plans that have easy terms of payments and have flexibility in their structure. But, the things can become much better if you have fool-proof travel plan in place.

Here are some tips on debt management and to come out of debt while carrying on the travel plans:

  • Organize your finances wisely

The best way to beat the debt is not to allow it to exist. This can happen only by wise planning and controlled expenses. Make budget for daily living expenses and save for the travel plans too. This way you may have a decent travel in your book of dreams. Travel cannot take place with a whimsical approach. There are instances where the couple went on world tour leaving the jobs and ended up doing menial jobs to meet expenses once the party was over. So, wise planning and disciplined living are two golden rules for avoiding travel debt.

  • Pay smallest debt first to consolidate a bunch of loans

You have to keep your calm and maintain peace of mind once you start counting the loans and their amounts. This is the time when most people panic and make stupid decisions. To gain confidence for repaying the loan, start with the smallest loan amount while paying only the minimum due amount of others. (Think that you have a number of loans to deal with!). Once you have paid at least one loan fully, you can treat yourself with a decent trip. There is no point in turning into an ascetic to pay debts, repayments take their own time.

  • Organize debts honestly to find where you stand

If you have many loans to repay (God Forbid!), then it is necessary to have a complete account of all of these in hand. You can see for yourself which ones can be consolidated first and whose deadline is the nearest. So, you can have a sigh of relief when the repayment amount for the ones with the closest deadlines is ready with you. The ones that are going to wrap up early are actually your confidence boosters and you should channel all your energy in consolidating those loans first. The confidence you gain is the sign that you can get into travel gear again, without any guilt.

  • Say ‘no’ to credit card expenditure

Never ever carry credit card to make payments while travelling. No matter how safe cashless travelling may sound, it is a trap ultimately if you begin spending uncontrollably. So, with credit card, do not forget to carry your wisdom whenever you travel to break the monotony in life.

  • Pay smallest debt first to consolidate a bunch of loans
My best debt consolidation advice to paying off your loan is to start with the smallest loan first and pay just the minimum amount  due on the other loans until the smallest loan is paid in full. Just think, once you have paid your loan off you can treat yourself to a decent trip!




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11 thoughts on “How to Consolidate Debt without Giving Up On Travel Goals.

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  • Oh yes! those are geat tips indeed! I am practicing organizing and visiting my finances on a regular basis right now and am hoping to get everything paid very soon. Traveling is definitely on the list of things I will be doing once the big ones go away! I am looking forward to it 🙂

  • Great tips. So accurate for anyone wanting to pay off their debt in a way that will actually work. I’m proof it works.

  • These are fantastic tips and I am actually paying down my debt now, so It is nice to see that I am doing it correctly. They are not huge debts, but any debt is huge to me. I look forward to the day of being debt free.

  • Not following the last one got us into financial trouble. Thankfully, paying off the smallest balance first, we were able to work toward an overall lower debt balance. Credit cards are evil!

  • The best thing to do, like you say, is be honest about your debts. It’s easy to look away from what we owe, but the only way to get out of it is to face the music! Love the fact that you talk about travelling even while having a debt – it’s still possible!

  • These are fantastic tips! I don’t travel much except our yearly road trips, and of course going to the beach! I will definitely keep these in mind when we really start traveling! Thank you for sharing.

  • I personally make it a point to never have any debt and I’m going great so far! But for those who do, these are very important tips. There really needs to be some control and prioritization in order to manage everything properly.

  • This is such a helpful post because we are really trying to cut our debt and save money. It is difficult because we do not want to miss out on travels either. But we do want to live with out debt. Thank you for this advice.

  • We follow many of Dave Ramsey’s principles, and we have managed to pay off a majority of our debt. We have just started traveling with our kids, and they have loved every second of it. We do have to budget wisely in order to make this happen for our family.

  • These are all such great advice. When my husband and I first got married, we didn’t do much that was extra (including travel) until we were out of debt. When we travel, our bank issued us a separate credit card that is only used for that purpose. That way if something happened, it wouldn’t effect any of our other accounts.


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