Storytime: My Biggest Money Mistake Ever | HDM 394

If someone approached you at a family party and asked you to share your biggest money mistake, what would you say? To be completely honest, I’d probably freeze on the spot. Not because I don’t know how to answer, but because a voice in my head tells me that, as a financial counselor, I should know better. Well, that’s not exactly true. And in this week’s episode, I’m going to walk you through the details of my biggest money mistake ever: buying a timeshare. 

If you’ve ever vacationed in a resort, you’ve probably heard about timeshares. The concept is very straightforward: in exchange for a fee, you “purchase” the right to use a resort room for one week of a given year. The “advantage” of this system is that your contract allows you to enjoy the resort room at the same fixed price, which over time amounts to considerable savings on vacation costs. 

While on paper the idea sounds interesting enough, in my case reality didn’t really live up to the expectations. And yet,  acknowledging this in real-time was almost impossible –a fact that made the whole experience very painful. 

Today I’m sharing this experience hoping that it can inspire you to better understand why sometimes is hard to see big money mistakes coming.

What you’ll learn about in today’s episode:

  • The reason why investing in this didn’t feel like a mistake (at first).
  • Some annoying realizations that added up to the pain of this experience.
  • How we managed to get rid of it and why it was the best decision.
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Related Her Dinero Matters episodes you may enjoy:

#315 – The True Cost of Car Ownership

#297 – She Became a Digital Nomad with a Profitable Business, Learn How

#285 – Simple Tips to Help You Transform Your Life and Your Money

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The post, Storytime: My Biggest Money Mistake Ever | HDM 394 appeared first on the Her Dinero Matters Podcast.