Many people save up for years to buy lavish items. For some people, owning a luxurious car, expensive jewelry, the newest tech gadget, or a huge house is a sign that they’ve reached financial success. While these big-ticket items are tempting, many are not worth buying for the majority of us who need to worry about paying our bills, eliminating debt and saving retirement money.
Many luxury items depreciate in value the moment that you buy them. Others will not stand the test of time and will soon just be a fad from the past. Here are nine items that are not usually worth the hefty price that you’ll have to pay for them.
If you dream of sailing the high seas, you may be tempted to buy a boat of your own. You might to be able to buy a boat for a relatively affordable price, but once you’re handed the keys, the real costs will kick in. You’ll have to pay for everything from insurance to registration to docking fees. Plus, you’ll have to shoulder the cost of maintenance. If you buy a used boat, you may be surprised by how many repairs you’ll need to make and how often you’ll have to make those repairs. When you buy a boat, you’re making a lifetime financial commitment. Before you get your new boat, make sure that a boat is something you can afford and something you want to spend your hard-earned money on.
Click below to share this article.