Five Big-Ticket Items You Shouldn't Buy
Many people's financial troubles begin when they buy an expensive toy or a vacation home.
The buyers assume they'll save money because they'll own the items instead of renting them. While that might be true short-term, it rarely works out that way in the long run. Here are five things you should never buy unless you're rich enough to stop working: Timeshares: It never makes sense to buy a timeshare, even if you vacation in the same place every year. Timeshare sellers will tell you that the rooms are bigger than those in a hotel, and come with more amenities. What they don't tell you is that the glut of timeshares has made it easy to rent one at a fraction of the cost of buying one. You could rent a timeshare every year for the next decade and spend less than you would if you had you bought it. And you wouldn't be stuck with maintenance fees. Boats: There's an old saying that the two happiest days for boat owners are when they buy the boat and when they get rid of it. Boats are a great way to throw money down the toilet because they cost so much to maintain. There are repairs, docking fees, gas and insurance. You could rent a much nicer boat on the days you want to spend at sea for much less than buying one.- Loading Comments...
- Loading Comments...
Recent Comments
Featured Photo Galleries
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,344.84 | 1,095.63 | 2,144.60 | 32.34 |
Oil *
79.39
|
|
UP
34.92
|
UP
4.14
|
UP
6.16
|
UP
0.33
|
10 Yr
3.23%
SPDR Gold
115.65
|
|
+0.34%
|
+0.38%
|
+0.29%
|
+1.03%
|
Data delayed 20 minutes |














