Recently, Beks over at Blogging Away Debt admitted that she is going on a trip with her family to Italy and Ireland. The cost is substantial ($3,000) so their debt repayment will stall for a bit. Beks was apologetic, but most of her readers (myself included) said this was an important event — one that she can’t do just any time.
That got me thinking: What would I go into (further) debt for?
Of course, I didn’t have to look too hard. There are a couple of examples in the recent past: Tim’s trip to his best friend’s wedding and a heavy bag to vent our frustrations. I do not regret either expense, although I would have loved to put the money toward debt. These are things that, after careful thought, were not optional. (I’d already put off the heavy bag for three years…)
And let’s not forget the move. I estimate that we spent about $3,000 to get ourselves and our stuff to Phoenix. (I include things like deposits, since those funds had to be diverted from debt repayment.) That one was a toughie — the sheer expense made me cringe — but, in the end, it was necessary. Unless I wanted my husband to continue being physically incapacitated and acutely uncomfortable.
Health is an easy one, though. Few of us would hesitate to get our loved ones the care they needed, cost be damned.
I’m thinking more along the lines of voluntary spending. Things that we could technically opt out of; but we don’t. The event is too unique or the item is just too worthwhile. Travel definitely falls under this category — especially trips with family members. Then again, I’ve read some bloggers who will scrounge up the money for an iPhone, no matter how bad things have been.
We all have different priorities, and that’s why I want to hear from all of you. The sheer variety of answers could be interesting indeed. So, tell me, what would you be willing to pay a substantial amount for, even if you’re still in debt (or if the purchase would put you back in debt)?