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.