Dave Ramsey on DVC

[Kaleidodad]

A boat is a hole in the water for money and time whether or not it's within your means. It just hurts less if it is. (My parents have owned a few.)

Definitely this! I'm a lifelong boater coming from several generations of boaters, and it's certainly a value-add to my life experience, but those boat-owner jokes exist for a reason*. That guy with the boat in Hawaii could easily spend my annual salary on maintenance and upkeep. 5-15% of a boat's value is a ballpark estimate for annual costs, and that number can go up quickly for bigger boats.

But yes of course, as with buying DVC (or travel or collecting things), if it brings you joy that expense can be worth it.

*Another oldie: The 2 happiest days of a boat owner's life are the day they buy a boat - and the day they sell it!

 

[DonMacGregor]

I considered buying a boat but decided on DVC instead.

She's a '98 Catalina Capri 22 and I've had her since 2006 (when someone else couldn't afford her, but he kept her berthed). She's trailered and we keep her at home.

 

[Brian Noble]

She's trailered and we keep her at home.

So, it's not a hole in the water. At least, not usually.

 

[DonMacGregor]

So, it's not a hole in the water. At least, not usually.

Nope. Just a nice day-sailer that was purchased for a reasonable price, is kept at home, and doesn't do more than it needs to. I mean, I do have to pay a $70 launch fee (includes day storage of the trailer) every time we go out, but that's not a huge price to pay for a day of fun out on the water.

 

[HIRyeDVC]

Everyone values things differently and I'm not here to judge. If seeing your money grow in a money market or mutual fund over 10 years brings you joy, have at it! If buying a luxury yacht or private plane that takes you around the world, have at it too! Who am I to judge on how you use your money to attain joy and happiness. As long as your pursuits do not violate the law, I'm all for it! YOLO.

 

[HIRyeDVC]

Nope. Just a nice day-sailer that was purchased for a reasonable price, is kept at home, and doesn't do more than it needs to. I mean, I do have to pay a $70 launch fee (includes day storage of the trailer) every time we go out, but that's not a huge price to pay for a day of fun out on the water.

I like what you did with your signature

 

[DonMacGregor]

I like what you did with your signature

 

[linzjane88]

For one thing, people whose first question at the dealership is "how much a month?" typically would benefit from DR's advice.

Those are the same people that make statements like

"I told my husband I didn't care what payments we had to skip this month we were going on a vacation somewhere!"

And

"when we go on vacation we usually just take out a loan from the credit union and then pay it back over the year"

And

"bank overdraft fees are like cheap loans"

These are all real things I've heard come out of coworkers, friends, and my own mother's mouth, respectively. It's very hard to keep a non judgmental poker face when you hear those things being said !

 

[longboard55]

So just booked my first VDH, and the cost of the points works out to 70% discount from the cash price. As a retired person I look for ways to control future expenses at the same time planning ways to be with my family. Everyones situation is different, to make blanket statements is not good financial advice. If I had a mortgage, 2 car payments and a student loan, I would not have bought, but I don't.

 

[mz-s]

Those are the same people that make statements like

"I told my husband I didn't care what payments we had to skip this month we were going on a vacation somewhere!"

And

"when we go on vacation we usually just take out a loan from the credit union and then pay it back over the year"

And

"bank overdraft fees are like cheap loans"

These are all real things I've heard come out of coworkers, friends, and my own mother's mouth, respectively. It's very hard to keep a non judgmental poker face when you hear those things being said !

Yeah people who live paycheck to paycheck especially need Dave Ramsey and need to listen to every word of his advice. No debt, pay off your house, live on a strict budget. Etc. You can't tell an alcoholic that a glass of wine at supper is okay, they have to abstain completely.

I think some people's issue with Ramsey is they assume his advice is for them when it isn't.

 

[TheLyinKing]

I definitely think people go into this just thinking its a cool thing to do. My mother in law was kind of like that. For us, we are big planners. Constantly planning things years out. I have a whole spreadsheet of vacations for like the next three years. Dates, itineraries, how we're paying. My wife is also a disney fanatic, and our baby was just born. We also have lots of family who would like to go with us (my MIL is coming with us this year) and worst case we rent out some points. I really did think about this for months to see if it was worth it (we ended up doing resale). I think people just get so caught up in the "magic" or the sales pitch that they just don't know what they're signing up for.

 

[take36]

"I told my husband I didn't care what payments we had to skip this month we were going on a vacation somewhere!"

Eh, I've been there many times after a rough day at work. Yolo booking a disney vacation having not saved up for it and on short notice.

 

[Epcot Forever Forever]

You guys are making me reconsider my life long dream of owning a Jet•Ski.

(J/K I’m definitely still getting a Jet•Ski for my looming midlife crisis)

 

[pianomanzano]

I like what you did with your signature

Where are you and @DonMacGregor getting those awesome looking signatures?

 

[HIRyeDVC]

Where are you and @DonMacGregor getting those awesome looking signatures?

just google your resort name logo

 

[Nursemanit]

Yeah people who live paycheck to paycheck especially need Dave Ramsey and need to listen to every word of his advice. No debt, pay off your house, live on a strict budget. Etc. You can't tell an alcoholic that a glass of wine at supper is okay, they have to abstain completely.

I think some people's issue with Ramsey is they assume his advice is for them when it isn't.

Agree - impulse spending is a real issue for some people. I would argue that it is similar to impulse eating or gambling. I have no experience with hard drugs but I can’t be trusted with a box of donuts or cookies- and it took me years in my 20s to kick cigarettes but carbs are still my downfall.

Some will really benefit from the cash only lifestyle and many people credit him with turning their life around.

 

[kboo]

Some will really benefit from the cash only lifestyle and many people credit him with Turing their life around.

He must have decoded the reasons for impulse spending.

 

[Paul Stupin]

Like all you guys, the video annoyed me. I think we all already know that if we bought a mutual fund instead of DVC we’d make more money. But so what! I’m sure many of us already have plenty of mutual funds. DVC makes us happy, and, guess what, we’ll probably make a little when we ultimately sell and if we lose it won’t be that much!

It’s not an investment, it’s super fun, and there’s a way out. So what’s the friggin’ problem?

 

[pianomanzano]

It’s not an investment, it’s super fun, and there’s a way out. So what’s the friggin’ problem?

It's a Disney board on the internet, there's bound to be an argument over something. At least we're not duking it out at the entrance of MK like others out there lol.

 

[Cfabar1]

Those are the same people that make statements like

"I told my husband I didn't care what payments we had to skip this month we were going on a vacation somewhere!"

And

"when we go on vacation we usually just take out a loan from the credit union and then pay it back over the year"

And

"bank overdraft fees are like cheap loans"

These are all real things I've heard come out of coworkers, friends, and my own mother's mouth, respectively. It's very hard to keep a non judgmental poker face when you hear those things being said !

These comments all terrify me and make me nervous just hearing them. Especially the second and third ones.