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Money For Couples

126. “We have $30k of CC debt. Why did we buy a $10k timeshare?” (Part 2)

Money For Couples

Ramit Sethi

Relationships, Society & Culture, Investing, Business

4.63.1K Ratings

🗓️ 17 October 2023

⏱️ 51 minutes

🧾️ Download transcript

Summary

It’s time to get tactical in this energetic follow-up episode with Cristina and Ron. Building on their story, we unpack their three most glaring money mistakes—a percentage-based financial advisor, whole and term life insurance, and a $10,000 timeshare vacation plan. This episode is brought to you by: Inside Tracker | Get 20% off by going to https://insidetracker.com/ramit. Mint mobile | To get your new wireless plan for just $15 a month, go to https://mintmobile.com/ramit. Long Angle | If you've made a lot of money and you're looking for a community of peers to turn to for advice, go to https://www.longangle.com/ to learn more. BetterHelp | Visit https://betterhelp.com/ramit today to get 10% off your first month. Connect with Ramit Get the Podcast Newsletter and exclusive Q&A about the show Get Money Coaching with Ramit Download the Conscious Spending Plan Get my New York Times best-selling book Get my no-numbers journal Other episodes Instagram Twitter YouTube Submit a question for the newsletter iwt.com/askramit If you and your partner have a money issue and you want my help, I occasionally select a couple to work with, free of charge. Apply for my help here. Produced by Crate Media.

Transcript

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0:00.0

When we were down in Jamaica, you went to a f***ing time share presentation.

0:08.4

We did.

0:09.7

Is this a joke right now?

0:10.7

So it's a 15 year vacation club membership.

0:14.2

It's not a time share per se.

0:15.6

It's a vacation club.

0:16.7

It's a time share.

0:17.7

They did start the package off at 36,000 and because I got to say no, no, no, no, no,

0:23.6

no, no, no, no.

0:24.6

I got them down to 10,000 for it.

0:26.4

Wow.

0:27.4

Bravo.

0:28.4

Bravo.

0:29.4

You put down 5,000 while you had tens of thousands of dollars of credit card debt.

0:33.7

Do you think that's a good decision now that I'm saying it out loud?

0:36.6

Nope.

0:37.6

So we have this club for 15 years.

0:40.7

Prime deals on everything that's the high it owns, I think, premier everything.

0:46.2

So VIP and concierge services, better rooms, and then we get a crazy amount off of them.

0:55.4

Oh, the stuff you already paid $10,000 for, you get a little discount on it.

0:59.6

Yep.

1:00.6

Pretty much.

...

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