I didn't know time-shares still existed. I thought everybody knew what a ridiculous idea this was. I'm surprised that lenders would allow you to finance them.
Living pay cheque to pay cheque!!
- Thread starter Alex P Keaton
- Start date
I didn't know time-shares still existed. I thought everybody knew what a ridiculous idea this was. I'm surprised that lenders would allow you to finance them.
I think they are a joke, yet she/he is in love with the idea. i have organised legal advice to get out of the contract for it after she/he tried ringing them to cancel and they threatened legal action. Looks like its stopping now from what i hear.
Im like, why pay them that much when u can t even afford the basics.
I dont know exactly how the time share thing she/he has works, but all i knew is she had repayments on it monthly.
Im like, why pay them that much when u can t even afford the basics.
I dont know exactly how the time share thing she/he has works, but all i knew is she had repayments on it monthly.
My brother and his wife bought a week time-share at the coast probably 20 years ago. We pooh-poohed the idea as rather silly. They went ahead. About five years later, they bought a second week for less than the first week cost them. Again we were aghast.
They have five kids, and it has been truly the best thing for them. To take a family of seven to a gold coast apartment (with everything thrown in, jet skis, boats, sauna etc etc) in the peak holiday season would have cost them an absolute fortune over 20 years, but they got in early and have done extremely well from it.
Sometimes, what you think is not reality
.That's great for them, I'm glad it has worked out.
But as you say, they got in early (I bet it cost much less, in real terms, then, than it would now), and they've taken advantage of it. Most people find out that they don't want to go to the same place for holidays every year, or that they can't (ie can't get time off work, can't afford flights, etc). And if they pay today's prices, they also often find out that it would be cheaper to just book and pay for a vacation every year.
One of the in-laws has just gone and bought some fancy waterfront house/apartment/something with some friends - not time share. I guess they'll get some use out of it with him retiring soon, they have littlish kids. Its very posh.
We're boring stay-at-home types and have our paycheck-to-paycheck moments, but I have an overdraft and all our bills are direct debit from my account, so if the quarterly winter electricity bill (winter bills are always massive, summer bills are the small ones) just happens to fall due at the same time as the car rego, phone bill, council rates etc, everything still gets paid ok, I just wind up with a bill for interest that month.
Quite looking forward to only having 1 house and 0 renovation projects instead of two. Been bleeding lots of money to the local builder's supply yard for some time now. So, for a brief, shining moment if/when my old house sells, we'll have a $15k mortgage. Until we build next door. *sigh*.
We're boring stay-at-home types and have our paycheck-to-paycheck moments, but I have an overdraft and all our bills are direct debit from my account, so if the quarterly winter electricity bill (winter bills are always massive, summer bills are the small ones) just happens to fall due at the same time as the car rego, phone bill, council rates etc, everything still gets paid ok, I just wind up with a bill for interest that month.
Quite looking forward to only having 1 house and 0 renovation projects instead of two. Been bleeding lots of money to the local builder's supply yard for some time now. So, for a brief, shining moment if/when my old house sells, we'll have a $15k mortgage. Until we build next door. *sigh*.
They have five kids, and it has been truly the best thing for them. To take a family of seven to a gold coast apartment (with everything thrown in, jet skis, boats, sauna etc etc) in the peak holiday season would have cost them an absolute fortune over 20 years, but they got in early and have done extremely well from it.
Sometimes, what you think is not reality
Agree. Also know some people who find it very good, and suits their lifestyle.
The Y-man
Amazing. They really need to understand their priorities: food on table, roof over head. Everything else: optional.
Good on you for even attempting to help them.
Cheers,
The Y-man
How would you guys prioritise living costs?
1 roof over your/families head
2 food on the table
3 clothes on your/families back
etc etc
If you were down to your last few dollars, would you put it towards rent (assuming you rent) or food?
My young housemate is currently doing my head in.. thank goodness he's moving out this weekend. He's priorities are more like
1 Gym membership
2 Protein powder, fat stripper (formulated for horses only)
3 Flashy clothes
not sure where rent gets a look in..
1 roof over your/families head
2 food on the table
3 clothes on your/families back
etc etc
If you were down to your last few dollars, would you put it towards rent (assuming you rent) or food?
My young housemate is currently doing my head in.. thank goodness he's moving out this weekend. He's priorities are more like
1 Gym membership
2 Protein powder, fat stripper (formulated for horses only
)3 Flashy clothes
not sure where rent gets a look in..
In order of expense really. Food first, accommodation second, then all that other stuff.
My young housemate is currently doing my head in.. thank goodness he's moving out this weekend. He's priorities are more like
1 Gym membership
2 Protein powder, fat stripper (formulated for horses only
3 Flashy clothes
not sure where rent gets a look in..
It would be neigh
(or would that be nigh) on impossible to get any sense into that friend's head.I don't think it's good advice to tell someone to not pay their loan.
If someone borrows money to buy something you can't just say "stupid idea I won't pay it anymore".
Funny how the people that rubbish timeshare no nothing about it.
I have timeshare. You don't need to get in early, you just need to know how to buy them cheap.
A friend just bought one for $900. She has a holiday in a 4 star resort for $200 a week for herself and 2 kids.
If you listen to a spiel and are interested say thank you and buy one resale. They go cheap because people get sucked into the hype and can't afford it and don't know how to use it.
I had a week at Christmas on a 12 berth houseboat for $249. 2 seperate weeks in a 4 star resort on the beach for $99 + + + many more.
I'm really happy with the money I've saved over the years.
I just got back from a lovely week in Spain (after 3 weeks in Italy). Going back for $149 a week in a 2 bedroom apartment, 2 pools, spa, walk to beach.
I could go on but you've already decided it's rubbish. Keep enjoying your cheap holidays. I'll keep enjoying my resort holidays.
travelbug.
I did give a very short version of the whole story. A bit more information on it to help justify why i said to forfit the loan agreement.
1st, i said get legal advice on it. She is considering Bankruptcy. Her partner has for some reason lost a decent portion of his income and she is only parttime with no chance of increased hours. The outgoings are more than the incoming per month.
Questions you ask yourself is do u keep paying something u cant afford which forces u to continue to spiral into bankruptcy or bite the bullet with 1 bad debt, be honest with them and say u will be applying for bankruptcy if things do proceed. If they threaten to take things further then u reconsider other loans/debts to forclose on. That was more my advice.
The person also told me that she notified them within the cool off period that she did not want to proceed because she cant afford it now, both verbally and in writing. They threatened to sue, even tho she had legal right to cancel. Unfortunatly she got scared and started to pay the payments.
I didnt say just not pay it. I said talk to them and talk to your legal advisor to seek which options you have in this situation.
I also said to consider closing all the other loans. Either Selling the stuff purchased and paying out the loans, either all or just some of them. Refinance and consolidate all the loans to make it easier and reduce outgoing interest.
I didnt just say Default on a contract.
I did give a very short version of the whole story. A bit more information on it to help justify why i said to forfit the loan agreement.
1st, i said get legal advice on it. She is considering Bankruptcy. Her partner has for some reason lost a decent portion of his income and she is only parttime with no chance of increased hours. The outgoings are more than the incoming per month.
Questions you ask yourself is do u keep paying something u cant afford which forces u to continue to spiral into bankruptcy or bite the bullet with 1 bad debt, be honest with them and say u will be applying for bankruptcy if things do proceed. If they threaten to take things further then u reconsider other loans/debts to forclose on. That was more my advice.
The person also told me that she notified them within the cool off period that she did not want to proceed because she cant afford it now, both verbally and in writing. They threatened to sue, even tho she had legal right to cancel. Unfortunatly she got scared and started to pay the payments.
I didnt say just not pay it. I said talk to them and talk to your legal advisor to seek which options you have in this situation.
I also said to consider closing all the other loans. Either Selling the stuff purchased and paying out the loans, either all or just some of them. Refinance and consolidate all the loans to make it easier and reduce outgoing interest.
I didnt just say Default on a contract.
Sorry for the misunderstanding. I thought it sounded strange.
Unfortunately a lot of these timeshare pitches are high pressure and they make it sound SO wonderful that people that can't afford it get sucked in. I say sucked in even though I have and love my timeshare. BUT I wouldn't pay thousands of dollars, as people do at these presentations.
I've met people that pay $20,000. That's just crazy. When we were in Las Vegas we went to a presentation (only to get the free theatre tickets). We met a young couple who signed up. They were telling us how it was an investment etc. I had to tell them "get out now while still in cooling off period, go home research and if still interested buy at a MUCH discounted price resale" I hope they listened.
I don't know how those sales people sleep at night.
Unfortunately a lot of these timeshare pitches are high pressure and they make it sound SO wonderful that people that can't afford it get sucked in. I say sucked in even though I have and love my timeshare. BUT I wouldn't pay thousands of dollars, as people do at these presentations.
I've met people that pay $20,000. That's just crazy. When we were in Las Vegas we went to a presentation (only to get the free theatre tickets). We met a young couple who signed up. They were telling us how it was an investment etc. I had to tell them "get out now while still in cooling off period, go home research and if still interested buy at a MUCH discounted price resale" I hope they listened.
I don't know how those sales people sleep at night.
I heard something interesting on tv today. I think it was oprah. She was saying that 5 out of 10 major stressors in life are financial. A lot of sickness is caused by people worrying about money.40% of people divorce over money problems.
It is nice to be in the position where I have a decent buffer and I dont have to worry about where I am going to find money for my rates bill, my water bill, my new hot water system I just had to buy etc. I can afford to pay them off in full.
I think when i buy my next ip, I like the idea of having $20 K in my offset, I like the feeling it gives me and the SANF. I will be trying to use as little as my own cash when putting down a deposit as is possible.
I can remember back in the 80's mum and dad always used to be fighting about money. I think back then the interest rates were crazy too. But every day the fights were mostly to do with money and how they would be able to afford to pay for things. I dont ever want to be in that position. I would get sick, I know I would.
It is nice to be in the position where I have a decent buffer and I dont have to worry about where I am going to find money for my rates bill, my water bill, my new hot water system I just had to buy etc. I can afford to pay them off in full.
I think when i buy my next ip, I like the idea of having $20 K in my offset, I like the feeling it gives me and the SANF. I will be trying to use as little as my own cash when putting down a deposit as is possible.
I can remember back in the 80's mum and dad always used to be fighting about money. I think back then the interest rates were crazy too. But every day the fights were mostly to do with money and how they would be able to afford to pay for things. I dont ever want to be in that position. I would get sick, I know I would.
He's priorities are more like
1 Gym membership
2 Protein powder, fat stripper (formulated for horses only
3 Flashy clothes
not sure where rent gets a look in..
I watched half a program last night on TV about teenagers/young adults on social or physical motivation/rewards.
Your roommate is drive by social motivations/rewards!
Opened up my eyes as to why some people (suffer) when told to urn off their mobiles= they fear missing out on receiving a social invitation or phone call.
BLEW me away BUT I understand.
Sheryn
Unfortunately that's society today.
Kids are bought up to rely on external rewards.
They won't do things unless they are rewarded for it.
A parent came to me last week (I'm the teacher) asking me how she can get her daughter to do things. She's tried sticker charts etc. But when she "asks" her daughter to clean her room she says no. Mum says you won't get a sticker on your chart. Kid says I don't care.
It's all about telling the kid how good they are, rewarding them for mediocre work and over praise for a half hearted effort. You are not allowed to say anything negative.
Unfortunately that doesn't reflect the adult world and that's why many teenagers have problems. Their employee won't reward them for just trying. They have to actually do a good job.
A student teacher told me now they are being taught how to redirect naughty children. If a child hits someone you are not allowed to reprimand them or say that's naughty
(heaven forbid you might damage the child), you just redirect the child elsewhere. What I want to know is WHEN is a child expected to learn social responsibility? For some I guess never, as evidenced by some adults I've met.
*snip*
A student teacher told me now they are being taught how to redirect naughty children. If a child hits someone you are not allowed to reprimand them or say that's naughty
*snip*
I'm inclined to call ******** on that one.
I'm inclined to think its real - you can't hurt kids self esteem now can you?
I've never managed to get The Child to do what she's told unless she wants to do it. I can't reward or punish her with ANYTHING so nothing works. But this week she's decided she's going to be good Because She Can (and because I severely told her off earlier this week) and it is just bizarre, she's never been good before.
Cleaning though? No issues there. She folds her clothes, sorts them by colour and pattern and puts them away in good OCD style. Then she cleans the rest of the house (also sorts by colour/size/pattern) and asks to do the dishes.
What I WANT her to do is not provoke arguments by nastily snarking at me no matter what I say, which is impossible and has been going on for 8 years, until this week when she just decided to stop doing it ...
I can't reward or punish her because I still haven't worked out what she likes to do to offer it to her or take it away from her. She hates everything and its unusual to see her actually play with her toys ...
I've never managed to get The Child to do what she's told unless she wants to do it. I can't reward or punish her with ANYTHING so nothing works. But this week she's decided she's going to be good Because She Can (and because I severely told her off earlier this week) and it is just bizarre, she's never been good before.
Cleaning though? No issues there. She folds her clothes, sorts them by colour and pattern and puts them away in good OCD style. Then she cleans the rest of the house (also sorts by colour/size/pattern) and asks to do the dishes.
What I WANT her to do is not provoke arguments by nastily snarking at me no matter what I say, which is impossible and has been going on for 8 years, until this week when she just decided to stop doing it ...
I can't reward or punish her because I still haven't worked out what she likes to do to offer it to her or take it away from her. She hates everything and its unusual to see her actually play with her toys ...
We generally close the doors on the pig pens that the youngest two live in as we prefer to "choose our battles". However, occasionally I do insist that the rooms are cleaned.
The youngest one will do it, whining the whole time, if I tell him no TV until it is done. It gets done.
The middle boy lets it get to the stage where he cannot see the floor and has no clean clothes to wear.
The youngest boy made a pipe gun recently to shoot berries at our stucco fence and gate. I asked him to please aim at the wheelie bin but a lot of berries missed the bin.
I waited until about 8.30am of the morning we were going to Dreamworld and handed him a container of sudsy water and a scrubbing brush and told him we would go to Dreamworld when the berries were cleaned off. It also got done.
We just had to find the right motivation.
The youngest one will do it, whining the whole time, if I tell him no TV until it is done. It gets done
.The middle boy lets it get to the stage where he cannot see the floor and has no clean clothes to wear
.The youngest boy made a pipe gun recently to shoot berries at our stucco fence and gate. I asked him to please aim at the wheelie bin but a lot of berries missed the bin.
I waited until about 8.30am of the morning we were going to Dreamworld and handed him a container of sudsy water and a scrubbing brush and told him we would go to Dreamworld when the berries were cleaned off. It also got done
.We just had to find the right motivation.
