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5 Expensive Things You Shouldn't Buy

2. Snowmobiles, jet skis and all-terrain vehicles

You might enjoy driving a snowmobile or jet ski so much on vacation that it seems logical to buy one. But unless you use it every weekend, it's going to cost you more to buy one than rent. There are also the maintenance and fuel costs to consider.

1. Vacation homes

A second home seemed like a sound investment when property values were rising. But the collapse of the real estate market, which has hurt some resort areas more than cities, has many people regretting their purchases.

Buying a rental property to generate income is a good move, but buying a vacation home isn't. When you add up the amount you'll spend on your mortgage, taxes, upkeep and insurance, renting a house makes more sense.

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Jeffrey Strain has been a freelance personal finance writer for the past 10 years helping people save money and get their finances in order. He currently owns and runs SavingAdvice.com.
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