Comments on: The Hidden Underbelly Of Traveler Debt

By: Do You Use Credit Cards To Finance Your Travels? [POLL RESULTS] : foXnoMad

Do You Use Credit Cards To Finance Your Travels? [POLL RESULTS] : foXnoMad — Thu, 07 Jan 2010 06:01:50 +0000

[...] weeks ago I introduced you to the hidden underbelly of traveler debt and asked if some of you are using credit cards to finance your travels, and to what extent. I was [...]

By: Anil P.

Anil P. — Sun, 13 Dec 2009 02:57:42 +0000

Awesome! In the US, *everything* runs on credit…everything.

By: Anil P.

Anil P. — Sun, 13 Dec 2009 02:57:08 +0000

I’m not sure about all of the lessons but I like the general thinking that not having the money upfront and using credit is a bad idea. Of course, it has its place, especially in bigger purchases and investments like homes, but many people find it tough to keep it under control.

By: Priyank

Priyank — Sat, 12 Dec 2009 16:16:05 +0000

In Indian schools, they taught us (I studied in post-socialist times) that credit = stealing (= capitalist = bad). If you don’t have money right now, you have no right to spend it.

By: Priyank

Priyank — Sat, 12 Dec 2009 16:13:46 +0000

Thankfully, I’ve been exposed to the “credit” culture only since last three years of living in Toronto. Before that, in my 25 years of living in India I knew less than a dozen people who had credit cards. LOL. Taking a debt to travel – that’s simply not going to happen to me, man!

By: Anil P.

Anil P. — Fri, 11 Dec 2009 15:12:42 +0000

I’d be curious to hear where it might be a part of the education. I know in the US it’s not (for most counties). I think it’s a very important set of lessons that are very costly to learn first hand.

By: Mark H

Mark H — Thu, 10 Dec 2009 20:57:32 +0000

I don’t get how people can go into so much debt to travel. As seductive as travelling is, surely some self control needs to be part of the equation. I am surprised that basic budgeting and financial control isn’t part of the school curriculum (well, in Australia anyway = maybe it is in some other countries).

By: Anil P.

Anil P. — Wed, 09 Dec 2009 14:52:31 +0000

Many times reduced spending takes the place of a good emergency or travel fund. I’m with you though, earn first spend after, guess that makes me a geezer too!

By: Donna Hull

Donna Hull — Wed, 09 Dec 2009 02:35:49 +0000

Naive me. I had no idea long term travelers racked up such debt while on the road. I’m for earning it first, then paying your own way. But of course I’m a “geezer.”

By: Steve

Steve — Tue, 08 Dec 2009 17:02:08 +0000

I’ve been fighting with the debt for about 3 years already and am almost credit card debt free. Should get rid of the last of it fairly quickly, depends on whether I focus on paying off the last card first or creating a cash emergency fund first. Either way, the current $10k debt seems much more manageable than where I started which was close to $60k in credit card debt. When I think of all the travel we could have done over the past 3 years instead of having to send all that money to the credit card companies it makes me feel sick.