Financial Mistakes You Hope Your Friends Will Make

It’s always nice to enjoy your hard-earned money — but not so much that you sabotage your future financial goals.

On this episode, we’re talking about ways to enjoy all the benefits of vacation homes, specialty vehicles, and other luxury, lifestyle purchases without allowing these potential landmines to derail your long-term financial plans.

Before jumping right into things, we want to take a moment to remind you that we’re fee-only financial advisors who would love to help you on your path toward financial success. We thoroughly enjoy having our listeners become clients, so if you like our common sense approach to all things finance and want to learn more, please feel free to contact us: brian [at] money-guy.com or bo [at] money-guy.com.

In This Episode, You’ll Learn:

• Why you shouldn’t “check the boxes” that society says you should
• The reality of buying a vacation home
• Why the majority of wealthy people don’t own second homes
• How to save money by renting an RV instead of buying
• Why boat clubs are a great option for boating enthusiasts
• The strategy to enjoy timeshares without getting stuck with a depreciating asset
• How to balance creating memories while maintaining your long-term financial plans
• Why you should delay gratification

Resources:

• Stop Acting Rich, by Thomas Stanley
• The Money-Guy on US News & World Reports

Enjoy the Show?

• Sign up for the Financial Order of Operation (FOO) Online Course!
• Sign up for our Know Your Number Course!
• Check out our Net Worth Tool!
• Get FREE downloads full of financial advice from our Resource Page!
• Subscribe on YouTube or wherever you listen to podcasts.