My Not so DW right now wants to sell our SSR points

[boettj]

Well, we'd love for y'all to come on down.

Check this out! www.alamls.com

We're just a 9-10 hour drive to the happiest place on earth!

I did some work for NASA a couple years back in Huntsville. Nice place. Too hot though. That is another reason I am a northern boy.


Being within driving distance of Disney would be very dangerous for me. Talk about running up debt. We've also looked at moving down to the Tampa area. Which would put Disney on our doorstep. The same issues come up, family, job, and heat for me. We were in Naples, Fl in May a couple years back. I thought I was living on the Sun. By 9am, it was unbearable.

All summer long, we spend tons of time on our deck. Now that the rain has gone for us, May and June were really wet months, the weather has been perfect, Rarely a day into the low 80's, and the humidity has not been bad at all. Hopefully this weather pattern returns next year.

 

[squirrlygirl]

OP..... We sold our contract a few months ago. DH was facing possible job loss so we needed cash more than vacations. It sucked doing the financially responsible thing, but it gave me peace of mind during the worst of the crisis.

There's one more round of job cuts by October 1st and then DH will be in the clear. While I'm 90% sure he won't be cut, I'm not buying back in until I know for sure. Then I'm not letting go for anything I know we took a hit but sometimes you gotta do what you gotta do.

 

[lugnut33]

The over extension is a combination of three credit cards, two car loans, a mortgage and a HELOC.


Selling the DVC would give of the option of paying off one of the car loans and one of the credit cards.


Thank you

Got it!! Good luck going forward on whatever you plan to do. I hope it all goes well and in the future you can buy back in, double points with no problem at all!!!!

 

[fkj2]

Well, the other thing to consider is that if you do sell, and you COULD swing a few days at "the World," then you and your dear (and wise) wife could look into renting points yourselves. The cost of doing that has also decreased and you might luck into a deal at some point, if flexibility is possible on your part. Although, with your DH holding down two jobs, I guess planning is a must.

 

[toniosmom]

This is just my opinion....

I used to be in the mortgage business. The two biggest factors in determining someone's credit was mortgage and car payments. You never want to be late with either one. Your home life finances are your priority. DVC is (technically) a luxury. You can live without it until you get back on your feet. One of the biggest stressers to a marriage is finances. Preserve your home life and come back to DVC when your situation improves -- and it WILL improve.

By the way, if you want to buy a 50-point contract cash, the MF is only $20/month. At least in two years you will be able to take a 150 point vacation by banking and borrowing.

Stay positive and I wish you the best of luck.

One last thing -- With the economy as it is, Suze Orman now says that you should keep as much cash in the bank as possible and just pay your credit cards and loans over time. This is so that you have an emergency fund in case you lose your job. I agree with her. Sell your DVC and put that money in an interest-bearing (liquid) account. You always have it there if you fall short one month and need a little boost to pay all of your bills. Just another idea to further confuse you....

 

[boettj]

This is just my opinion....

I used to be in the mortgage business. The two biggest factors in determining someone's credit was mortgage and car payments. You never want to be late with either one. Your home life finances are your priority. DVC is (technically) a luxury. You can live without it until you get back on your feet. One of the biggest stressers to a marriage is finances. Preserve your home life and come back to DVC when your situation improves -- and it WILL improve.

Absolutely agree. The past year has been very stressful for us. Everytime we think we've made it over the hump, something happens to bring us back down. This move will hopefully put us well over the hump.

By the way, if you want to buy a 50-point contract cash, the MF is only $20/month. At least in two years you will be able to take a 150 point vacation by banking and borrowing.

I hadn't thought about his, but for right now I need to get our monthly expenses inline with what we can afford monthly.

Stay positive and I wish you the best of luck.

Absolutely trying. My DW is the glass is half full, while I am the glass is half empty. We keep each other inline with our different views. While it's frustrating at times, I am not a quitter.

One last thing -- With the economy as it is, Suze Orman now says that you should keep as much cash in the bank as possible and just pay your credit cards and loans over time. This is so that you have an emergency fund in case you lose your job. I agree with her. Sell your DVC and put that money in an interest-bearing (liquid) account. You always have it there if you fall short one month and need a little boost to pay all of your bills. Just another idea to further confuse you....

I remember back in the 80's when the nightly news would compare savings for the US to Europe and Japan. The numbers were terrible back then. Today there is no question than very few people save for the disaster. The numbers range from 6 months to a year and a half. Once we get past the hump, our plan includes building out 6months to start. Then trickling money in over a 5 year period to make it 18months.

I want everyone to realize this is a minor set back. Simply put, I've lost my way, and needed something like this to help me see the light. What scares me about this is the millions of people (not on disboards, but in the US) that are in the same boat. Living paycheck to paycheck just praying they can recover before they lose their job. While I have tried to take proactive measures along the way, they were never enough. They were always just enough to stave off reality. Well reality is here, and I have it by the horns. Now it all depends on how long it takes to sell our DVC points.


Thank you for the advice.

 

[Bill K]

Just make sure its the right choice for you. Really have a good sit down with DW and discuss all your options!
DW and myself had similar experience last year. DW was concerned about our finances and thought it was time to sell our DVC. Though I did not agree with DW, I agreed. We did very well and made a nice profit from our dvc sale @ BWV. We were hoping that there would no bids on it but it went in a week!!!

To end this story! We were on vacation this past June staying @ the yacht club (got a great deal on cash ressie). I was walking down to the lobby when I noticed DW speaking with the DVC rep! Well to my surprise DW wanted back in!! We did purchase but paid alot more for our points than we did in 99!!! Think hard!!!

 

[Quiksilvr]

It sounds like you know what you need to do. I commend you for having the guts to take the steps you need to get yourself out of the hole. All I can do is offer best wishes in your pursuit of financial bouyancy and eventually freedom.

Even though my job is stable because of my specialization, my industry is hurting, so I "put myself on notice" as it were. Because I tend to be paranoid about finances (due to growing up relatively poor), one of my biggest priorities out of law school was to have a solid cushion of cash and cash equivalents in case something unforeseen happened. It has been a big relief to know that if I did somehow lose my job, I'd have a year to find another one. Still, I know how a heavy debt load feels, so I can empathize with you there. Between student loans and my house I have... ugh... $600K in loans (that's what happens when you live in a condo in downtown Washington DC). Power-paying is how I live my life. Keep at it and you'll get your head above water.