Holidays are memorable. So definately worth the debt. You have a few factors to consider, your budget, the timing, and the duration. Basically controlled by school holidays no doubt.
Depends what you've previously done really. Camping sounds out. Cruises are great and affordable.
Asia is dirt cheap. Airfares will be the biggest expense to Bali, Thailand, Philippines. And you will lose a decent chunk of your 8days on a plane. But once there it's cheap, warm, cultural, etc. Depends what you're after.
It's probably more about the kids and not you. So where you have been isn't as important as where they've been. But you and the wifey need to be comfortable too.
$4k you could definately do Thailand that time of year.
