Can you afford your next getaway?

Be truthful.

If your answer is no, you’re definitely not alone. A prominent travel trend last year was the “justified vacation,” where people chose to travel even when it wasn’t financially feasible. According to a survey by Allianz Partners, 47% of Americans admitted they couldn’t afford a vacation, yet 49% still planned to travel anyway.

Another survey from Bankrate revealed that over one-third of travelers would go into debt just to fund their trips.

“Going into debt for a vacation is not a wise choice,” warns Steven Kibbel, a certified financial planner. “Credit card interest rates are steep, often exceeding 20%.”

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That means the vacation of your dreams could end up costing you much more than expected.

People have been accumulating debt to fund their vacations for ages. Yet, the situation has escalated. Americans carry over $1 trillion in credit card debt, fueled in part by an insatiable desire for airline miles. Many perceive using credit to finance their trips as a savvy choice – receiving immediate satisfaction while earning “free” miles for future travels.

Creating debt for vacationing is not advisable. It can damage your finances, increase your stress levels, and likely leave you yearning for another break. There are far better ways to approach a trip you can’t afford.

“Never, ever, ever go into debt just to travel,” advises Suzanne McConaghy, a travel finance specialist. “Plan, set a goal, save up – and only then take the trip.”

But why is that?

Reasons Why Traveling Into Debt is Unwise

The temptation of an idyllic vacation, often amplified by social media, can lead you down the wrong path. Let’s be honest: It’s tough to resist those posts of influencers enjoying lavish vacations, funded entirely with “free” miles.

But that’s misleading.

There’s no such thing as truly free. While travel hacks can help you collect points and miles through debt-financed stays, they invite risk. If you fail to pay your bill in full each month, the interest accrued will wipe out any rewards you might gain. It’s a risky venture.

“Any type of debt can significantly elevate your stress levels,” notes Jeremy Clubb, founder of Rainforest Cruises, a company specializing in Amazon and Southeast Asian cruises. “Often, this stress overshadows the relaxation and mental rejuvenation that travel is meant to provide.”

For this article, I spoke with numerous travelers, some of whom felt that taking on debt for travel was occasionally justified, particularly for significant occasions like honeymoons. Others claimed that the points made it worthwhile.

To which I respond: nonsense! In fact, the more critical the occasion, the more cautious you should be financially. Who wants to spend the first year of marriage buried in debt?

So How Do You Afford a Vacation?

Let’s be clear: The best way to have a relaxing trip is to stick to your budget.

“Get creative with your travel plans,” suggests Jeremy Murchland, president of Seven Corners Travel Insurance. “Consider the reasons behind your desire to travel. If you’re flexible about destinations, you might discover alternative options that don’t stretch your budget.”

In other words, think ahead and consider alternatives that won’t require incurring debt.

I know travel experts might not like this suggestion, but why not consider a staycation, explore local sights, or embark on a road trip to a nearby location?

But what if there’s an expensive destination on your mind?

Mitch Krayton, a travel advisory expert from Denver, recommends saving for larger trips.

“Transfer $100 to $200 weekly from your checking to a dedicated savings account,” Krayton suggests. “When you’re ready to book, you’ll have cash on hand. Not only will you feel more secure in your ability to pay, but you won’t face the aftermath of a large bill after returning.”

Just don’t spend beyond your means. It’s that straightforward.

Consider Creating a Vacation Budget

Travelers generally fall into two categories: those who aim to minimize expenses and those who have no concept of a budget.

If you belong to the latter group, pay attention: One effective way to avoid overspending is to establish a budget. Apps like TravelSpend and Trabee can help you visualize your spending, tracking your expenses, and planning your trip without overspending.

If you prefer not to use your phone while on vacation, you could bring along a friend who belongs to the first group – someone who always stays within budget. (That’s my brother.) They can be your voice of reason throughout the trip, reminding you to curb your spending.

And if you’re part of the first group, then you’re likely not the audience for this article. You probably never overspend on your vacations. I should have interviewed you instead.

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Additional Tips to Avoid Vacation Debt

So, how can you prevent falling into vacation debt? Here are a few suggestions:

• Consider a staycation. Use a week to discover your own town. You might be pleasantly surprised by what you find. “Staycations can sometimes feel unappealing,” shares Sam Hohman, CEO of Credit Advisors Foundation. “But if you plan them as thoroughly as a destination trip, they can be incredibly memorable and rejuvenating.”
• Travel in the off-season. “Wherever you wish to go will still be enjoyable during the off-peak season,” advises Christopher Falvey, co-founder of Unique NOLA Tours. “It will be less crowded and cheaper, enabling you to have the same experience for less, just by waiting a few weeks.”
• Shorten your vacation. “If you merely need a break – and who doesn’t? – see how you can enjoy time off with minimal costs,” suggests Erica Sandberg, a consumer finance expert at CardRates.com. For instance, a weekend trip might suffice to help you recharge and will save you both time and money.

So, the next time you’re tempted to charge that dream vacation to your credit card, remember: A trip funded by debt is a trip beyond your means. Instead, concentrate on saving and planning. You’ll come back from your vacation with joy rather than a heap of bills waiting for you.

Christopher Elliott is an author, consumer advocate, and journalist. He created Elliott Advocacy, a nonprofit organization dedicated to resolving consumer issues. He also publishes Elliott Confidential, a travel newsletter, and the Elliott Report, a news site focused on customer service. For assistance with consumer issues, you can contact him here or email him at chris@elliott.org.