For example, the loan for vacation
It is true that the Germans are so-called travel world champions and like to travel a lot. It is also true that travel is education because you can get to know foreign countries, their peoples and culture. But traveling is a luxury that you should only afford if you can afford it. That said, a vacation loan is actually a no go. If you are not able to save the money for the vacation, you should better stay at home.
Anyone who takes out a loan for the vacation must always bear in mind that there is no equivalent. If you buy a car on credit, you have a car for which you pay the installments, if you buy a property on credit, you live in it rent-free and you eventually own a home. However, if you take out a loan for the vacation, you may have a nice vacation, but in the end nothing remains but the memory and the installments to be paid.
In addition, the installments that you have to pay back after your vacation reduce your household budget and certainly do not help you to put money aside in the following year to pay for your next vacation. If you want to go on vacation every year, you inevitably get into a vortex from one loan to the next. And the holiday loan is certainly not the only loan that you have. Someone who has never had a loan is unlikely to be the first loan in his life to finance his vacation.
Don’t get into debt for the vacation
There are good and bad debts, so to speak, and the debts you get because you take out a loan for vacation are rather bad debts. Today’s consumers should be much more critical of financial matters. Loan offers – even if they are cheap loans – are always offers with which the banks earn their money and what they need is the money of the borrowers, who have to pay the borrowed money dearly.
If you take a closer look at the topic, you will quickly find that some things are not as they seem. In financial matters in particular, many consumers still lack security and, above all, knowledge of the interrelations. But the fact is one thing, loans do not make you happy and anyone who finances everything in life with credit and takes out a loan even for vacation runs the risk of falling into debt and not getting out of it so easily.