Dave Says: Don't play the timeshare game

Dear Dave,

How do you feel about timeshares, and the free trips and dinners they offer as part of their sales pitches? Is it possible to win with these things?

– Dan

Dear Dan,

In my opinion, timeshares are a complete waste of time and money. Lots of folks go into this kind of thing believing they'll play the game and win. They think they'll get a vacation weekend and other free stuff, then just say "no" when the time comes. The problem is, most people aren't as tough a sell as they think. Besides, do you really want to waste a weekend of your life letting some pushy salesperson twist your arm? That's not my idea of fun.

As a whole, timeshares have an incredibly high dissatisfaction rate. It's almost impossible to find anyone who's happy they bought into one, and there are good reasons for this. Why would you pay thousands of your hard-earned dollars for a tiny place you may or may not get a chance to visit once a year? Add to this the fact that you have no equity in the place, and you're stuck paying ongoing maintenance fees.

My advice? Don't take a chance playing the game, Dan. There are much better uses for your time and money!

– Dave

* Dave Ramsey is CEO of Ramsey Solutions. He has authored seven best-selling books, including The Total Money Makeover. The Dave Ramsey Show is heard by more than 16 million listeners each week on 600 radio stations and multiple digital platforms. Follow Dave on the web at daveramsey.com and on Twitter at @DaveRamsey.