I have about $20K in credit card debt. I’m on track to pay it off within two years, but we’re meant to go on an international trip next year, mostly for an event I want to attend. I work contract to contract, and my husband is semi-retired. We have extra money in the mortgage to cover emergencies but it’s off limits for the CC debt- it’s for medical emergencies, house burning down etc.
The CC debt is from work courses I’ve taken, and from a previous holiday. A few contracts have fallen through at short notice which has reduced my income in the last couple of years. Even so, I’m able to pay more than the minimum payments each month to reduce the term of the repayments, but it doesn’t leave much in my savings.
I told him last week that I don’t see how I can afford the trip in my current position, unless I pick up a contract for the next six months (a big job recently fell through- I’m looking for other work but it won’t pay nearly as well as the cancelled job). He told me today he’s just pay for my share of the trip and I can pay him back later.
We generally split things 50/50, though I’ve been paying a bit more recently for regular expenses as his income will drop a bit in full retirement.
The trip is likely to be $7-10K each. My view is that I got myself into this debt and if that means I miss this trip, that’s my responsibility and consequence. Also, adding $7-10K debt, whether it’s to a bank or to him, is unacceptable to me. He wants to go on the trip as much as I do, and he does have savings that would cover my share.
How do I explain my problem to him without sounding ungrateful? Or am I being too hard on myself, and should just accept his offer?