War and finances changing my mind. Need help.

[A1A1]

I have been holding onto the add-on papers for over a week. I don't know what to do. I wanted to add-on at BWV, but am having second thoughts. I have no savings, and think that this might be a stupid purchase. I don't know whether I should just do it and worry about it later, or hold out for a resale at a later date.

The add-on is for 150 points. Can I call them and ask for a smaller amount of point? I haven't signed anything yet. Or, do you think that because I haven't signed, they have sold the points to someone else?

 

[poj7]

No savings? Don't do it. Don't put yourself in a dangerous position by overextending yourself. What happens if you lose your job or get injured?

I would never give someone unsolicited advice but I'm assuming from your post that you're looking for opinions from people on here.

 

[anniet]

You can call and ask for less points, but I believe MB only kicks in at 100 points if they are offering it to you---I'm assuming you are adding on through Disney???- If so they are probably holding the points for you.

Good luck with whatever you decide.

 

[A1A1]

Thanks Paul!
Thanks Annie!

I read lots of posts, and have written lots, in which we tell prospects to "just do it", and I don't think that is me.

I feel guilty that my guide had a sale, and now may not.

I can always buy a resale later on down the road, right?

 

[anniet]

You can buy resale, or ask your guide to put you at the bottom of the list again, if that's possible. I had my guide put me on the list for an add-on, but told her I will not be ready to purchase until at least the end of this year, and I don't really need the points until my 8/2004 use year. She said she'd call if and when something became availabe and if I wasn't ready to buy I could go back to the bottom of the list.

 

[CaptainMidnight]

If your going for 150 points, you can always find those purchases through a resale, since 150 is the minimum purchase. It's much harder for point amounts below 150. No harm in playing it safe and waiting.

 

[jaysue]

I would use the "can I sleep ok if I do this" acid test

Thanks
Jason

 

[Maistre Gracey]

Just my opinion, but I do not live with the fear of loosing my job. If I did, I could go crazy stashing reserves and taking precautions. On the other hand, I do make sure that whatever I buy could be sold relatively quick and not take a huge loss. I feel DVC falls within this category. I am reasonably certain that I could sell it within three months for 80% of what I paid.
--Again just my opinion

 

[oshun]

If you have to question if to do it or not then I would definitely wait until you feel more comfortable in doing so. You can always add on when you are more comfortable with it at another time. We can all say, "Oh, I should have bought this or that back then" but we know at the time it was not best for us. Best luck to you whatever you decide. Only you know best.

 

[Cruelladeville]

A1A1,
I had the same misgivings when I got called for OKW points, which I wanted to get SO MUCH!! But I decided to wait, and for the same reasons. This does not seem to be a good time economically to take on more debt. I found that paying $84 per point just could not be justified for me at this time, so I turned down the points. I used the money that I had been saving to pay off my BCV add-on from last year, and now I will begin saving for a resale. $84 is just too high, and no Magcial Beginnings for add-ons from sold out resorts is like a slap in the face to existing members who wants to expand their DVC interest,IMHO.

 

[ncligs]

Originally posted by Cruelladeville
$84 is just too high, and no Magcial Beginnings for add-ons from sold out resorts is like a slap in the face to existing members who wants to expand their DVC interest,IMHO.

 

[KNWVIKING]

When I originally purchased, I had no doubts. I've since added on three times. Still no doubts,regrets or 2nd guessing, ( and this while my two sons are both in college). IMO, if your having doubts, I think you've answered your own post. You can always buy later. Don't let todays price give you tommorrows ulcer.

 

[CGregoryJr]

No savings and still considering a DVC purchase? Economic uncertainty or not, evaluating such a decision seems relatively straight-forward. Don't do it!! It's the same mindset that gets so many folks in financial difficulty (including many of our fellow DVC members I'm sure). Reject the urge to over-extend and you will be much happier down the road (not to mention being able to sleep without the overhang in the near term).

Best wishes to you. Don't worry, these DVC points are always going to be here. Never forget, such points are at best a commodity that can easily be procured in the marketplace (just check the resale boards--there's rarely a shortage).

 

[manning]

Take the smart route and pass on the add-on. Take care of the necessities first.

If you get into an emergency situation and can't meet your obligations, you stand a good chance of losing everything.


Work on getting that first six months of salary into savings first (a year is better). any financial planner worth his salt will tell you that.

Job cut backs are fast and furious right now, and if you lose yours it may be a long time before you get another one.

Take it from me, I was retired at 52 (down sized) and had my nest egg all set up. It felt good laying my head on the pillow at night not having to worry were the next buck was coming from to pay the bills. A lot of my fellow workers didn't plan ahead and had a hard time of it.

 

[TheRustyScupper]

1) I give a lot of WDW and DVC advice (hopefully helpful).
2) I seldom give personal financial advice.
3) However, I have to go along with several of the postings.
4) DON'T DO IT AT THIS TIME!
5) Without a few bucks in the bank, there is no backstop.

6) Many advisers say to have 6-months pay in the bank.
7) This is wise, but a still personal opinion.
8) But, I believe you need a minimum of 3-months of liquidity.
9) DVC should be paid from disposable income.
10) Without disposable income, pass on the current purchase.

 

[A1A1]

Thanks all. I pass. I feel badly that my guide had a sale, and all the papers were sent to me.

I will wait for a small resale in the future.

Thanks, again.