Wishing I were one of you guys

[JoeThaNo1Stunna]

I read this board everyday and think about the day three of four years down the road when I buy into DVC. I've decided against a nice car or a nice house as my first major purchase, I want something that pretty much forces me to go to WDW year after year. So whenever I get that job after graduation I can't wait.

I'm putting aside $25 a week, plus $500 every six months while I'm in college to use to pay for a portion, and the other half I'm going to finance. It's definetly going to be SSR b/c of the longer lease.

I digress, you guys are already in, so who cares right. Well, I can't wait!

 

[tjkraz]

Good for you. Wish I had been that level-headed at your age. I've lost count of how many cars I've had since college, but my DVC will always be with me.

 

[DrTomorrow]

Hmmmm, let's see - what's appropriate for this situation?

I've got it!

Welcome to the road Home!

 

[JimC]

Good luck and keep saving

 

[pumpkinboy]

Learning to save, and to forgo current consumption, is a very important lesson and is best learned early. Good luck to you. The magic of compound interest, and the realization that in a decent savings plan you will double your money every 7 years or so (more frequently with ongoing contributions) are more good lessons.

Nevertheless, perhaps the first house should be a higher priority in the savings picture, as historically this has been a better investment for most Americans. Plus your housing payments are building equity rather than simply disappearing. DVC will still be around once you have the house and the additional finances to cover timeshare spending. While DVC is a good deal, it is still just a prepaid vacation, and should not take the place of real savings, or buiding home equity. But hey, you'll get there; and the earlier you do the saving, the sooner you'll have the first house, and the sooner you'll build enough equity that you can get into DVC. Just don't get sucked into the whole conspicuous consumption thing, necessitating fancier cars, fun gadgets and so on. Get a good reliable car (thru "resale" as we refer to used DVC contracts, but the same lessons work with cars) and drive it into the ground. Use the savings to fund your Disney habit, or to plow into your home.

Best of luck!

 

[DisneyMim]

I just wanted to say Good Luck to you. It seems like you have a good plan and you know what you want. Good for you. People told me I was crazy for years because I always wanted something like DVC (since I was very young actually, I wanted to live in the castle!!) and when it finally happened I was one of the first to buy in. Sooooo from a long time Disney fan and one of the "oldest" DVC members............

Good Luck and I just know that one day we'll all be Welcoming You Home!!

 

[wtpclc]

Way to go on your savings plan! If you can do that in college, I can only imagine what you'll do whn you hit the real world! However, I have to agree with pumpkinboy. (no offense pb, but I never thought I'd see myself doing that! LOL) A house is much more important. Throwing your money away on rent is just a waste. Think of all the vacations you're throwing away. Do a small house. If you have a downpayment (current DVC fund) you should be able to have mortgage payments that are about the same as, if not cheaper than, rent. With your after college job, you should eb able to put aside even more. In a couple of years, you'll have your DVC.

In the meantime, if you need your fix, stay in the value hotels. How much time do you spend in your room anyway at this point in your life?

One last point, when you first start your real world job, you won't have that much vacation time anyway! (Sorry, but it's the real world)

Good job with being fiscally responsible!!!

 

[TOMAR@SSR]

Hi Joe
Just want to say GOOD LUCK to you !!!
You seem to have a good head on your shoulders, so I`m sure that soon we`LL be saying " WELCOME HOME ", as well!!.
If this is your goal, and you keep focused, it will be a reality before you can realize it has happened.! (HAPPY PLANNING!)

 

[DisneyDiva4ever]

Congrats on the great savings plan! Your post made me smile. It's nice to know that there are others out there that love Disney so much. I find myself constantly getting teased or misunderstood for my "disneyness." People, in the midwest especially, think that Disney world for instance, is just a silly kid's amusement park. Most of my friends don't have a clue what I do on vacation or why I would join DVC. Oh, my favorite question, "why would you go on a DISNEY CRUISE?!!!" I am sick of defending the wonders of Disney to people! I'm so glad that there enthusiasts like you joining DVC!

I hope your DVC dreams come true!

 

[CRSNDSNY]

JoeThaNo1Stunna -- Good for you to have the forsight to save for this purchase! Keep setting that money aside....it will definitely be worth the wait!!!

 

[StitchGirl]

Congrats on saving while even in college!!! Whatever you do, don't start running up credit card debt-- that's where everyone I know who had financial problems ran into them, and always in college! Always pay off your credit card on time!

I have to second the people who said it would be worth it to buy a house! I bout a house a year after I graduated (car came right away-- I had to get to work!). I just bought DVC (4 years later).

The house was a phenomenal investment. I put about 10% down and my equity has more than doubled-- the equity I can get from the house can actually pay for DVC (however, I'm instead buying a bigger house ). So, think about it-- DVC is a great investment in future vacations, but from an overall standpoint, a house is definitely better. Don't forget mortgage interest is deductible. I couldn't itemize until I had the house, so I paid more taxes, AND was paying rent, which I kind of felt like I was "throwing away" instead of investing in my own property!

 

[QuiltTeddy]

Wow, that's great that you are already planning for your future.

Wish I had done that.

 

[poohj80]

Stick to your plan and you will make it sooner than you think! We too put off joining DVC as we were still in college (but still managed to make several trips to WDW per year). We finally experienced what we were missing when we stayed at BWV last Fall and bought into SSR before heading home. Wish we could have done it sooner, but glad we finally did!

 

[OKW97]

DVC was my first major purchase out of college and my family thought I was CRAZY , they were thinking that it was the standard timeshare but believe me I did my home work before buying in !!!!!!!!! Took alot of grief for doing at the time '92 especially in DVC's early days when very few knew about it.

It was the best investment I have ever made (even with the house, 401K, stocks etc) it guarantees my vacations to get away from the rat race to regroup, recharge, even when the budget is tight.

DVC for me is priceless!!!!!!!! GO FOR IT !!!!!!!!!!! You won't regret it.

 

[JoeThaNo1Stunna]

Thanks for the kind words. I am forgoing going to WDW again while I'm in school b/c I'd rather use that $ to buy into DVC than spend it on short trips at Value Resorts.

Definetly don't have to worry about bad credit, both of my parents have file for bankruptcy and I know how much harm it does. Neither of them can buy a car, house, or get a credit card. I don't want that to happen to me! I've been working on getting a high credit score and have had it go from 660 to 705 in three months. Just pay off all of the CC bills every month and keep a low utilization.

Yes, I definetly know the value of home ownership, the problem is that homes have become so expensive that the only thing affordable is in the areas of Richmond that have some of the highest murder rates in the nation.

I just love going to WDW and want to be able to stay at nice resorts, I see DVC as the only way to ensure I can stay at places like SSR and VWL.

 

[Muushka]

Aaaahhhh. A young man with a goal. Music to my ears.

I certainly do wish you all the best with your future plans. And I think it is so cool that you learn from others mistakes.

Just wondering, what are you taking up in school?

 

[ArRzrbk]

You sound like a very smart individual who knows what's important to you. I think you may find yourself in with the DVC crew before you know it

To help you along, I am going to give you the name of a book that has changed my life and the financial future of my family - The Automatic Millionaire by David Bach. It is very inexpensive, a very quick read (just about two - three hours), and full of easy to implement ideas that will make you "rich" in many senses of the word. You can also check out David's website at http://www.finishrich.com.

And nope, I'm not an employee of David's. I am just one of the many people who discovered him on Oprah and then signed up for his coaching program to learn more and change my life! The only thing I gain by sharing this is a good feeling. I just recognized a kindred spirit in you and your tale and just wanted to help you along.

Good luck, and I hope to be telling you "Welcome Home" soon!

Char

 

[JoeThaNo1Stunna]

Originally posted by Muushka
Aaaahhhh. A young man with a goal. Music to my ears.

I certainly do wish you all the best with your future plans. And I think it is so cool that you learn from others mistakes.

Just wondering, what are you taking up in school?

I'm doing a five year Bachelor's/Masters program where I get a bachelor's in a general subject and a masters in Seconday Education. After three years out I plan on continuing on to secondary school administration.

 

[rinkwide]

Bravo young Wahoo (speaking from experience, you might want to set aside a bit for your add-ons too).