Skip Navigation

Travelling with debt

Travel Forums Australia / New Zealand & The Pacific Travelling with debt

1. Posted by Goska268 (Inactive 53 posts) 7y Star this if you like it!

Has anyone gone backpacking while they still had debt to repay (credit card balances)? I want to leave to go backpacking in March/April but I know i will still have credit card balances that need to be paid while i'm away. I want to work while in Oz, just not right away. I was thinking i would wait maybe a month and then look for a job since i would probably arrive in Oz with about $8000 or $9000 AUD.

Has anyone ever had the same conflict and if so, how did you approach it?

2. Posted by NewLife (Budding Member 23 posts) 7y Star this if you like it!

I suppose the first question to ask is how much would the minimum monthly repayments be while your away. If they are going to high then it could be a problem. Another option would be to do a balance transfer to a 0% interest credit card thus removing the minimum payment for 12 months.

3. Posted by Goska268 (Inactive 53 posts) 7y Star this if you like it!

Thanks for responding. Well, i have two regular cc's which the minimum pay. comes out to approximately $130 each mo. Then i have a school loan payment of $156 each mo. And on top of that there are a few other credit cards in which i purchased major items for the house (couches, tv, etc). Those total about $100 each month- this is split with my sister. So all in all, on my end, it comes out to about $350 each month on min. payments.

I just googled the option doing a balance transfer. It says you don't have to pay the interest on most of these cards but you do have to pay a % transfer fee and they don't really mention anything about no minimum payment each month. Do you know which cards in particular are good? It seems like it might be a good option.