VANCOUVER (NEWS1130) – Household debt is at record high levels across the country, but that’s not stopping people from travelling.
A new poll finds many plan to travel now and pay later. But that isn’t always a smart decision.
“It seems as though Canadians have blurred the lines once again between wants and needs,” says Jeff Schwartz with Consolidated Credit Counseling Services of Canada.
He says instead of blowing thousands of dollars on a tropical trip, you might want to look closer to home.
“If there are opportunities where you don’t need to go to the big places and try to find a local place, there’s opportunities to save money.”
If you are dead-set on a holiday, it’s a good idea to think ahead.
“You might want to think, ‘Okay, I’m going to have to make some sacrifices when I get home’ and put yourself on some sort of plan to pay it back as soon as possible. This kind of debt could linger on for years,” says Schwartz.
If you’re booking a flight, you might want to try to find one with a connection, since they can be cheaper. You could also try to pack light, as checked baggage fees can add up.
Points can help cut down the cost of flights and hotels.