6. A Holiday

Everyone deserves a break. Travelling can be a wonderful experience, but borrowing heavily for a holiday can turn a relaxing trip into months of financial stress.

You may enjoy the beach, hotel or sightseeing for a few days, then spend the next six months worrying about repayments.

Instead, save for the trip in advance. If you cannot afford the destination this year, there is nothing wrong with choosing a cheaper option or waiting until you can afford it.