Ready to pack your bags for Thanksgiving? Well, wait... how many bags?
I’ve learnt this the hard way. I consider myself an organized person (!) and used to carry multiple bags, which had everything I needed, and anything I would ever want during my vacation. But, I ended getting a porter everywhere, luggage carts, paying an overage on my baggage limit, as well as paying for oversize bags (you don't want to visit somwhere and not shop!).
So, ended up paying a lot of $$ for nothing. And now, with the airlines industry in a deep hole and being charged $15- $25 for checked bags, all the more reason to travel light!
A packing list helps a lot when it comes to traveling light. If you write down what you need, you can eliminate the extras, and enjoy your vacation more. When I went to Europe (not backpacking), it was very easy traveling from one country to another, getting on and off trains, keeping my bag under the seat, when all I had was one carry-on size bag, instead of the gigantic bags I was used to carrying.
Depending on your destination, get a clear and categorized list, and carry just enough to last your through your stay. There are several websites that can help you with packing lists (!), no seriously, you definitely need one, especially if you are traveling with a baby/kid.
How to pack
Most folks don’t think about this. Iron your clothes, or fold them flat, and you’ll be able to carry more clothes. Roll up your socks, night pyjamas, or anything that you can, and line them along the edges of the bag- that saves space. Flatten everything, roll press or sit on it, whatever, but just flatten it. You can carry more clothes this way. Again, there are websites that can help you. Ridiculous? well, not really.. not when it can save you some money!
If you are traveling with a child, chances are you will have to check a bag or two, because of the contents. And chances are your child’s bag will be bigger than yours! That’s fine, make most of the space available. Carry one bag instead of two, that is a $50 saving right there for a roundtrip.
Depending on your destination, restrict stuff like baby foods, diapers, and buy it where you stay. Carry plastic containers, instead of glass for baby food. Dump any extras in your child’s car-seat bag (we usually dump our jackets/ woolens in the bag- great volume reduction!)
Nov 6, 2009
Nov 2, 2009
Travel- Money Saving Tips
It has been a while I have posted. Been a little crazy with work, travel, and trick o’ treating with my toddler. Fun, but busy. I am back, and to add to the holiday and travel excitement, I am planning to introduce a new section to the blog- “deal of the week”, whenever I see an irresistable deal. So anything from airfare, to hotel, to vacation rental, a timeshare deal, this will be my 2 cents. So check it out.
With the holidays coming, I am sure a lot of you are planning a trip or two. Some may be wanting to use up your timeshare time or some of you might find better deal elsewhere, either way, traveling is always fun and a great learning experience. So, some posts on travel and travel money-saving tips, and then we’ll get back to the ever interesting world of timeshares.
And you know what could make traveling even more fun- if you could save some green $$, without having to compromise on your comfort. I am not a millionaire, and don’t plan to become one. So, a few hundred or a few thousand dollars saved, is a huge saving for me.
Money Saving tips- Tip #1 – Travel at non-peak time
Whether you own a timshare or not, a small change in travel time and a little planning could go a long way in saving you some $$. Different people have a different definition of peak and non-peak time. For me, peak is the entire week of the holiday, for example the sunday before thanksgiving holiday although the Sunday after thanksgiving, or the week before Christmas through New year. My recommendation- travel a week or two before or after the holiday week.
It might be hard for folks to get vacation etc, but plan accordingly, and plan way ahead of time. The worst thing you can do for your budget is to plan last minute and travel the week/ weekend of the holiday- that’s a killer. Yes, there are last minute deals out there, but you may not get what you want. If you are open to going anywhere, or just being home if you don’t find anything, last minute deals are a good option.
Traveling at non-peak times could save you tons of money, and long waiting times for shows/ rides, etc. like:
- Airfare and ridiculous extra charges by airlines
- hotels
- car rental
- show tickets
- pet boarding is available
Check out this sample airfare chart from Continental airlines checked on Nov 2, 2009. I just entered 2 random cities- airfare form Houston, TX to Newark, NJ. See the fare differences between Nov 18 ($268) and Nov 25 ($418). If you are a family of four, you save $600 right off the bat. That is a LOT of money!
With the holidays coming, I am sure a lot of you are planning a trip or two. Some may be wanting to use up your timeshare time or some of you might find better deal elsewhere, either way, traveling is always fun and a great learning experience. So, some posts on travel and travel money-saving tips, and then we’ll get back to the ever interesting world of timeshares.
And you know what could make traveling even more fun- if you could save some green $$, without having to compromise on your comfort. I am not a millionaire, and don’t plan to become one. So, a few hundred or a few thousand dollars saved, is a huge saving for me.
Money Saving tips- Tip #1 – Travel at non-peak time
Whether you own a timshare or not, a small change in travel time and a little planning could go a long way in saving you some $$. Different people have a different definition of peak and non-peak time. For me, peak is the entire week of the holiday, for example the sunday before thanksgiving holiday although the Sunday after thanksgiving, or the week before Christmas through New year. My recommendation- travel a week or two before or after the holiday week.
It might be hard for folks to get vacation etc, but plan accordingly, and plan way ahead of time. The worst thing you can do for your budget is to plan last minute and travel the week/ weekend of the holiday- that’s a killer. Yes, there are last minute deals out there, but you may not get what you want. If you are open to going anywhere, or just being home if you don’t find anything, last minute deals are a good option.
Traveling at non-peak times could save you tons of money, and long waiting times for shows/ rides, etc. like:
- Airfare and ridiculous extra charges by airlines
- hotels
- car rental
- show tickets
- pet boarding is available
Check out this sample airfare chart from Continental airlines checked on Nov 2, 2009. I just entered 2 random cities- airfare form Houston, TX to Newark, NJ. See the fare differences between Nov 18 ($268) and Nov 25 ($418). If you are a family of four, you save $600 right off the bat. That is a LOT of money!
Oct 7, 2009
Costs of owning a timeshare
So, lets get down to some numbers, shall we? How much will a timeshare actually cost you? Remember, it is not only the upfront payment, and the annual fee that you should consider. There are other ‘hidden’ costs that you should keep in mind before deciding whether you want to buy a timeshare, think about a vacation rental every time you visit, or may be buy real estate in your favorite destination and use it like a second home.
So, in general, here would be your cost considerations:
1. Purchase price – amount you pay upfront to the resort or developer
2. Annual maintenance fee – the amount charged by the developer every year for maintaining your property
3. Income lost - this is basically the income you might lose if you had used your money for something other than buying the timeshare. This is termed as opportunity cost. For example, if you had put the money in a CD in the bank, you would probably make an average of 2% on it. Or if you decided to invest it in your 401K or IRA, your return on an average would probably be approximately 8% with a cumulative effect over a few years. Consider after tax effects of any other investments you might consider.
4. Exchange costs – if you decide to exchange or trade your timeshare week with another destination during the year
5. Consider any qualitative losses, i.e. are you cutting corners and not buying a car that you desperately need, because you’re planning to buy a timeshare. Remember, in some cases, big expense items, like cars, household items expenses, are deductible for your tax returns. Based on your lifestyle and vacation style, also, consider things like greater flexibility of rentals.
6. Additional expenses - You could be taking a vacation just because you own a timeshare, which otherwise you might defer. Airfare, food, are additional expenses.
7. Legal and paperwork costs, if you decide to hire a real estate agent or attorney.
OK, enough words- gets let down to the nitty-gritty. Here are the timeshare evaluation steps demonstrated, with an example. Please remember, this is purely a hypothetical example and there could be several other considerations in your specific situation.
1. Purchase price of $15,000
2. Annual fees of $1000
3. Income lost of $320.
So, now if you total all of the annual expenses only: $1000(fee) + $320 (lost income) +$120 (exchange fee) = total of $1,440
Using this calculation, you would compare the $1,440 estimated total annual cost with the cost of renting a hotel or a vacation home in the area or in the same resort, as well as other destinations where you would like to vacation. You make your choice!
So, in general, here would be your cost considerations:
1. Purchase price – amount you pay upfront to the resort or developer
2. Annual maintenance fee – the amount charged by the developer every year for maintaining your property
3. Income lost - this is basically the income you might lose if you had used your money for something other than buying the timeshare. This is termed as opportunity cost. For example, if you had put the money in a CD in the bank, you would probably make an average of 2% on it. Or if you decided to invest it in your 401K or IRA, your return on an average would probably be approximately 8% with a cumulative effect over a few years. Consider after tax effects of any other investments you might consider.
4. Exchange costs – if you decide to exchange or trade your timeshare week with another destination during the year
5. Consider any qualitative losses, i.e. are you cutting corners and not buying a car that you desperately need, because you’re planning to buy a timeshare. Remember, in some cases, big expense items, like cars, household items expenses, are deductible for your tax returns. Based on your lifestyle and vacation style, also, consider things like greater flexibility of rentals.
6. Additional expenses - You could be taking a vacation just because you own a timeshare, which otherwise you might defer. Airfare, food, are additional expenses.
7. Legal and paperwork costs, if you decide to hire a real estate agent or attorney.
OK, enough words- gets let down to the nitty-gritty. Here are the timeshare evaluation steps demonstrated, with an example. Please remember, this is purely a hypothetical example and there could be several other considerations in your specific situation.
1. Purchase price of $15,000
2. Annual fees of $1000
3. Income lost of $320.
- Say if you were not buying a timeshare, you would put aside the money in your bank account as a CD, which earns an average of 2%, depending on the economy. This will be a total of approximately $320 ($16,000*2%) for one year, and a lot more when it compounds in the next few years. For simplicity, lets just consider the annual simple interest.
- If your exchange is in popular destinations or international locations, its even more.
So, now if you total all of the annual expenses only: $1000(fee) + $320 (lost income) +$120 (exchange fee) = total of $1,440
Using this calculation, you would compare the $1,440 estimated total annual cost with the cost of renting a hotel or a vacation home in the area or in the same resort, as well as other destinations where you would like to vacation. You make your choice!
Sep 29, 2009
Popular timeshare destinations in the US
Any guesses for which one tops the chart? You got it- Florida! Florida is the most visited vacation destination in the US, primarily for Orlando and the beautiful beaches. Florida offers something for everyone- the magical world of Disney, Magic kingdom, Epcot center, Universal studios, shopping, nightlife, beaches, entertainment.. you ask for it, and Florida has it.
Just thought I'd share some interesting information I found on the TUG website. This map has RCI properties only, I believe, and the map was created in 2006, although the google map is current. Florida is a region by itself!
http://tug2.com/tsmaps/TimeshareMaps.html
California has been gaining popularity in the recent years. California offers a lot to visitors in terms of natural beauty- the mountains, the beaches, the vineyards, are all within a few hours drive. The magical world of Disney and ofcourse the glamour world of Hollywood are top California attractions. The temperate weather is definitely a plus.
Las Vegas attracts thousands of visitors each year because of its world class entertainment- whether you are a gambler or not! The recent real estate bust affected home prices and other real estate prices in and around Las Vegas. As a result, hotel prices have dropped a lot. At a nice hotel like Monte Carlo, you can get hotel rooms starting $50 for this month.
Hawaii is a beautiful vacation spot- it really is. And like me, a lot of people fall in love with this destination, and probably want to keep going back. Hawaii, with all its natural beauty, is a tropical paradise. So, no wonder, timeshare developers make an increasing effort to lure tourists into buying their property.
There are other US destinations that are getting popular, like Hilton Head in South Carolina, Colorado, and Texas.
I’ve always wondered why people buy timeshares when they can just rent a hotel room, or a vacation rental, for sometimes a fraction of the cost. Well, I think when people fall in love with a destination, they want to return to it every year. They are also looking for least worry, and not having to go through the hassle of looking for a hotel room, and making reservations. I guess they enjoy stability, knowing their unit or property will be waiting for them every year.
Just thought I'd share some interesting information I found on the TUG website. This map has RCI properties only, I believe, and the map was created in 2006, although the google map is current. Florida is a region by itself!
http://tug2.com/tsmaps/TimeshareMaps.html
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