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Money Issues - could they be a problem later?

Travel Forums Australia / New Zealand & The Pacific Money Issues - could they be a problem later?

1. Posted by Goska268 (Inactive 53 posts) 7y

Has anyone ever taken an extended period off to travel even while having debt at home - credit card bills, loans, etc? If so, how did you manage it while being abroad and did it hold you back at times?

2. Posted by John Goez (Budding Member 11 posts) 7y

HAHAHA I think that problem is only our problem here in America lol thats one of the reasons I havent packed and taking off to see the world, debt, loans etc it sucks :(

3. Posted by Gone_away (Budding Member 23 posts) 7y

i've been using my credit card to pay for my school fees in installments.

what i did was to open a bank account and apply for giro (not sure if it is the same term used universally), they would deduct the amount every month automatically.

just ensure there are sufficient funds in the account for them to deduct.

but due to the amount owned, i am not able to have more funds for my WHV trip to New Zealand...

4. Posted by bex76 (Moderator 3742 posts) 7y

I travelled for 3 months in Asia with a fair bit on my credit card. While I was travelling I ensured I had enough in my current account to pay the minimum monthly payments. When I got back home I transferred my balance to a credit card with an interest-free period which saved me loads and made the debt a little more manageable. I'm not sure what the situation is with balance transfers now though, after the 'credit crunch'.

5. Posted by Goska268 (Inactive 53 posts) 7y

@ Gone_away : I was thinking of doing the same thing...setting up automatic payments for my credit cards and school loan and then just going to aus with whatever money i had saved up.

@ Bex76: that could also be a good idea…maybe transferring my cc debt over to a 0% interest credit card before I go also, thereby avoiding interest accumulation while abroad.

Ideally, I would love to leave without any debt at all, but if I wait until I get to that point, my trip may be delayed by months. I don’t want to waste time just because of credit card and loan debt. Glad to hear that many people have not let it hold them back!