everyone has their own unique views and needs when it comes to financial success if you'd like to leave your financial woes behind and live a life of Financial Freedom you've come to the right place welcome to the saving with Steve show hosted by Steve Sexton the show will help you with the ins-and-outs of money we talked about financial issues that could be costing you $1,000 and keeping you up at night we talked about money tax reduction saving more spending less 401k's risk management retirement and everything under the sun that relates to you having a healthier happy relationship with money now here is your host of saving with Steve Steve Sexton<br>we talked about the ins-and-outs of money pretty much everything into this and released to you having a happier healthier relationship with Mike my name is Steve sacks and I want to thank you for joining us I want to send a special thanks to our listeners our viewers we have over $600,000 in the United States now and we're increasingly over 60,000 overseas so we're very thankful for that thanks for sharing it with your friends and family now today we're going to be talking about time shares the ins-and-outs the upside Down's how do you redeem timeshares how do you spot a good investment without all the press that goes along with the timeshare we're so lucky to have the timeshare Crusader Lisa Shire here has been 4 years since 1998 she started her career as a salesperson a manager at Winstar Resort st. around the Orlando area. Like a lot of people grew increasingly frustrated with the Antiquated marketing high-pressure sales techniques that were sadly are still the norm<br>you been there you know what I'm talking about now what she did she flip the script and said hey I want to be a catalyst for positive change so she wrote the book surviving a timeshare presentation concessions concessions from the sales table and times your vacations for dummy now she's also co-authored a definitive College textbook on timeshares she's a frequent contributor to Major media Outlets. After speaker consumer advocacy groups he provides contents or consumeraffairs.com senior news Rockstar Finance she's got this really cool block called tell it like it is it's the timeshare Crusader. Blogspot.com or she covers all the essential issues and all that kind of good stuff so Lisa welcome to the show thanks for being here for me see very much looking forward to this our listeners have been looking forward to this more than you know cuz even though I do financial consulting there's a lot of people have timeshares and some are very frustrated with them<br>some are very happy with them some don't like they got pressure from the second they walked into the room so to speak and others said he was the best experience I've ever had but I'd like you to do is just kind of walked through when somebody signs up for timeshare like the last time I was in Hawaii they said hey if you'd like to go do this snorkeling event instead of paying $200 a person you could do it for $45 or for free if you go to this presentation so is it typically the way they bring people in that you are bribed or incentive eyes to use it better work you are bribed with either as you said a discount on some tickets for local activities or sometimes it's a discounted stay at the resort but typically your incentive eyes and what your part of it is it you need to attend this sales presentation which sometimes is all the sales presentation<br>oftentimes just called Resort update but rest assured it's a sales presentation and as you and many of your listeners have probably experienced their never quite as short as they make it sound to be and it's never simple and it's almost always high pressure but that's how the vast majority of people get purchase their first time is directly from the developer so help people understand the psychology behind the presentation is it a big group type presentation where everybody sitting in chairs in a conference area or the tables and people are being talked to you in a group of four or five or is it done individually how's it done<br>are you still selling timeshare it was an individual thing so I is the salesperson went out to the lobby I met my clients and it was a one-on-one face entation I have seen you research where they do a group presentation also known as a totem pitch because there's somebody up at a Podium ditching the timeshare but it's some point you are going to be separating from group and have a one-on-one with your sales person who's going to be showing you the benefits and the price of whatever it is they're selling but typically most presentation so nice to know they are with they start off as a one-on-one because Todd was psychology as you were talking about is the warm-up where the sales person is trying to warm up talk to you as a person not as a client get to know you get your guard down a little bit before they started in with the actual sales presentation<br>which typically is it's at 10 stuff presentation the most important part in one of the most important part of the presentation is where the sales person is asking you the clients the questions and the reason I say it's the most important she is because most people don't understand this but the person asking the questions is the one in control of the presentation to always remember that the person asking is the one in control it's really important because if you're not asking the questions that means you lost control and then what's the next step after the questions and the answers I was going to be this time Cher will stop your vacation problem so it's the uncovering of the vacation problem the solution in form of<br>Sherry Dunn presented then you should probably go on the tour you see the resort you see the lovely Humanities the room at this point he still don't have any idea what the price is the price the closing media sales manager is called in but in most typical timeshare presentation the prices never discussed until towards the end the presentation okay so somebody says hello how much does all this car is so just maybe he will get to that is that you see with the responses present the price that's the way cuz people are spending some time since a thousands of dollars to get a timeshare<br>uncovered or talked about how much is the client sending already on vacation so they will talk about hotel costs they will talk about hotel inflation they will talk about how many more years of education are you planning on doing and then they will prepare that price with the price of whatever time she said that they're showing a vacuum what I mean is his always used as a comparison to what are you spending now and what will you spend in the future are the less-expensive option that's really really really nice if somebody says yeah I'd like to go for it but I can't write you a check for $20,000 do they have payment plans down payment and maybe 20% sometimes less no one would have seen before we go to war break what's the typical commission a timeshare salesperson a person would earn<br>Furnishing a range of somewhere between 3 to 6 % so I'm not 6% may increase based on how much the salesperson sales in any given okay that's great he looks every buddy we've got a wonderful discussion here coming on with Lisa Shire the timeshare Crusader do you want to sit with us we'll be right back with more the more expert advice for having a happier relationship with money still to come I'm the saving with Steve show<br> don't let your financial woes keep you up at night and prevents you from living a life of Financial and personal freedom hi I'm Steve Sexton post of the saving with Steve show we're to be talking about the in an ounce of money was Financial issues that could be costing me thousands of dollars causing stress keeping you up at night we're going to talk about money tax reduction saving more spending your investment risk management retirement and everything is so she ate it with you having a healthier happy relationship with money soon as you've ever dreamed of living a life of Financial and personal freedom you owe it to yourself and your family to tune into the savings with Steve show join me Steve section of the saving with Steve show as we talked about everything under the sun when it comes to money to learn more about the show visit saving with Steve. Us that saving with Steve. Us saving with Steve. Us will see you soon<br> welcome back to the show that is here to help you achieve your financial goals it's the saving with Steve show now here's your host Steve Sexton ends and out of money we've been talking to Lisa schrier she is the timeshare Crusader she just went through the first segment how somebody would go through the whole process of the sales people look at you when they're looking to sell your timeshare we found out how much they make and if you think about it if they see 20-30 people a week for timeshare presentation and they end up selling half of those that means they're selling $300,000 worth of timeshares on a weekly basis and they're getting five 6% that's a pretty good earnings so keep that in mind they make a lot of money one thing before we go on to the next person lie so how long is the typical individual presentation is it like 30 40 minutes is an hour how long does it typically go<br> five years when I finally stopped selling and as much as I knew and as much of a veteran as I was it's almost impossible to get out all the information into two and a half hours so I could check we even though whatever piece of paper you're signing that says you will agree to this presentation understand that is almost never going to last only that long so I would say three hours is a good a good idea of how long it's going to take somebody has the ability to go to familiar location every year without unpleasant surprises because they've seen the resort they know what's going on there and from that perspective I know people who actually love going to their timeshare every single year that they know some people who have a timeshare at the Marriott in the Black Rock in Hawaii and they just love it is that people text to buy their timeshare which has been very nice for them they like the resort like amenities and services<br> because basically they pretty much have everything like a a Marriott and they also like the the household to avoid the hassle of looking a new vacation over here they just know they're going to Hawaii during their special week and they've got a great week during the year but on the flip side 10 things you alluded to earlier that people might be paying $1,000 a year and Association to cause an ongoing costs keep going into perpetuity let's talk about that let's have people understand what the impact of those long-term charges are just price and the ongoing annual maintenance fees there's also a fee for joining the exchange company The Exchange company let's hear exchange or trade your timeshare did you major exchange companies being RCI and Interval International whatever resources You by I just going to be at Philly ated with one or in rare cases built<br> hey there's a fee for joining the exchange then there's an actual exchange fee which is running about domestic exchanges running I believe $279 so that's something to keep in mind but I also want to be in Cancun is opposed to Hawaii is that exchange exchange for different week Works changing their location for a different location change companies as I said RCI or Interval International referred to as II so there's a fee for joining there's a c for exchanging there might be especially if you own on the beach there might be a tationil special assessments again it's one thing people tend to forget about asking but it's very important<br> I asked about special assessments have been levied if so how much have a Dan Levy was the famous case if you years ago Resort in Hawaii assessed a $5,000 special assessments for water intrusion of their owners are not happy so it's important to ask these questions so send me some of you cleaning fee because unlike a hotel with theirs typically at least three covid daily cleaning most time zones do not have daylight cleaning important to ask so there's a lot of costs associated with a timeshare dad me to gloss over in the presentation with a very important for consumers to understand because he said they will back in the early 2016 was $99 and now it's close to $300 so it's important to keep that in mind<br> I know people who have had those special assessments and they given the ability to pay overtime but it's basically an increased cost in some cases they I had to come up with extra $300 a month for two years in order for her to deal with their portion of it but she was really an eye-opener for them we always have people who and I've been asked this from time to time about time shares were the Shang hang you know what we're not really doing anymore how do we spell bitten how do we get out of this timeshare and they realize they're unable to get out of the timeshare and then there's many companies that are lawyers that will try and help them get out of timeshares so you know what what do people need to know going in is if this is something into perpetuity right okay if they need to get out how did they get out it's a great question and I would say 90% of the calls and emails I received how to do with people wanting out so that's all<br> kitchen categories first category is a Chinese curse fully paid off S categories the time she was not fully paid off they still owe on it let's tackle the second one first if you still owe on your timeshare there is a 99% chance that you will not be able to sell it and the reason is quite simple the industry does in my opinion they do their best to suppress the secondary Market building value of their timeshare on the resale Market is in 99% of the cases less than what you owe on it if you take a quick look at eBay or Craigslist there's people selling their timeshare or trying to sell their timeshare for a dollar so if you still owe on it you're in big trouble because you're not going to be able to sell it it's just a simple fact now if it's paid for you can get is so we'll get him a secondary Market in rare cases some developers will buy it back but that's very rare cases<br> a stopgap measure is of course you may want to read your timeshare on the open market and at least rented for what your maintenance fees are because that's way we cooking at least some of your money but there is a legitimate secondary Market just understand that the value of their timeshare is in most cases less than $2,000 on average okay so if you want out your maybe getting 1020 cents on the dollar if you're lucky<br> number of companies out there that claim to be able to get you out of your timeshare nice teeth I don't like generalization so I will say 99% of them are outright scams first of all if anybody contacts you up front if they initiate contact with the timeshare how did how did they get a great deal and share that the developer is selling for an average price of $20,000 can be found on the secondary market for us he said ten to Thirty cents on the dollar. So it's always a good idea to check what is it going for and resale Market understand that some developers due to its usage restrictions on a secondary Market Challenger<br> again even if you're buying the secondary market and you supposedly have lots of time this is no pressure you need to understand what it is you're mine so what I'm done is I danced a lot of knowledge into 19 questions that people must ask before they buy a Timeshare and I throw in an additional nine if they're buying it on the resale market and you know I'm not ripping people off I charge $8.99 for that so what's 19 questions you need to ask I want to spend $8.99 what do you want to make a $20,000 mistake a long time readers know that I say avoid<br> anyone who used the word free perfect always or never questions with the nine more if you're buying in the resale Market schreier 617 at gmail.com if they missed a Google the timeshare Crusader and they can find me online on my blog I also tweaked at Lisa looks at so they can reach me any number of ways how to get how to how to follow your blog if you get a chance I chose to do me in a little while ago so it's the time you saved her. Blogspot.com those 19 questions<br> the nine more. To buy in the secondary Market Lisa could you give your email to get that one more time, 617 gmail.com listeners a wealth of information and I think it's really important to understand what somebody's going to put you through before you go do it and to know that if I like that you know take a moment if you're going to make a big decision where you say you know what I'm going to take 2 days and think about this regardless of how much time you spent with them and if you really thinking that you should be doing it he always go back cuz they're going to let you do that if they're going to they're going to allow you to buy it but if you don't think about anymore you don't think it's important. It's a good decision because you would have you would have not used it to have buyer's remorse oh<br> dick with this will be right back with more shaving Mesquite more expert advice for having a happier relationship with money still to come on the saving with Steve show<br> don't let your financial woes keep you up at night and prevents you from living a life of Financial and personal freedom hi I'm Steve Sexton post of the saving with Steve show we're going to be talking about the in an ounce of money was Financial issues that could be costing me thousands of dollars causing stress keeping you up at night we're going to talk about money tax reduction saving more spending your investment risk management retirement and everything is so sweet with you having a healthier happy relationship with money soon as you've ever dreamed of living a life of Financial and personal freedom you owe it to yourself and your family to tune into the savings with Steve show join me Steve section of the saving with Steve show as we talked about everything under the sun when it comes to money to learn more about the show visit saving with Steve. Us that saving with Steve. Us saving with Steve. Us will see you soon<br> welcome back to the show that is here to help you achieve your financial goals it's the saving with Steve show now here's your host Steve Sexton is the sustaining with Steve shovel we talked about the ins-and-outs of money I want to truly thank you for tuning in our appreciation Ledger friends and family know about the shaving with Steve show all replays a baby with Steve. You at if you're enjoying the stories of helpful information inside with saving with Steven Akers you described your Google play Spotify Channel our YouTube channel go and check out a few of our affiliate that you can't help radio DBS Radio AM FM 247 all these networks are dedicated to empower you to solve problems uplift your spirit and live life or personal financial Freedom also falls on Facebook and join the club<br> Shrivers wonderful you probably want to listen to that but now I'm going to be talking about how to calculate how much you need to save an emergency fund is pretty interesting some car repairs medical emergency job all lead to Unexpected death if you're not prepared to many people experience that over the last two years and you're still experiencing that how much should you save the saved it's a difficult thing to predict how much these and other emergencies could cost but saving three to six months of worth of expenses is it good golf if that seems to see saving you saving him $500 going into debt to finance a small car repair or medical bill here's what we need to do to determine how much we need to save first of all you want to make a list of your rent or your mortgage Utilities phone cable internet car payment gas if you're riding the bus bus ticket car credit card payments and other debt your grocery<br> other needed expenses that you can't do without once you have that total you know I don't tell me you're going to say to yourself well now I can't save anything let alone this okay or you're not sure I might need to cut some Corners hear others might be said yeah this is a reasonable number for sure but the big question is how do you go about reducing their expenses continuing with what you're doing to start saving the money the key here is every little bit counts okay so one of the things you can do is you can go online and get one of those automated tools or a nap or there are a banking account and all you really need to do is move so much money every single pay. And your savings account for emergencies you know what you can do it automatically you can set it up for your payroll very simple very straightforward count your coins and bills empty your pockets each day and start collecting the extra cash if you have coins or dollar bills and take that collection to the bank and put it directly in your Shade music<br> if you're doing this and it's 10:20 dollars every single week that is what 40 to $80 a month almost $1,000 a year it's a great way to get started when you want to watch your spending use the dollar bills instead of the credit card to the debit cards it's harder to part with cold Hard Cash. Just popping down a card and paying for it later prep for your grocery shopping people lose more money on a vine when it comes to shopping for food or groceries the holeshot sometimes they over by more than my fair share a little work before going to the grocery store to make a long long way to help you save money in your grocery you want to take a look at your pantry so you're not over buying it's been many times where it looked in my pantry couple sacks of potatoes and one was rotting and I had the other one there and it wasn't even planning to use it for a while okay make a list of y 10 + 5y get coupons go to coupon.com<br> Bateson sale on the food at your mind okay when you're going out to eat or smaller serving Center Rapid and the restaurant appetizers or split entree with your dining companion why would you want to do that one and you don't have to pay as much I am 1170 what are the ways that they look at losing weight it's really interesting one of the ways they looked at losing weight is when when they went out to eat as opposed to buying to place at eighteen or twenty bucks a piece plus a drink there up to almost $60 for the meal that they decided to share one of the larger meals they said they would get a surf and turf it might be $25 but they're both getting the same meal it's half their eating the chips or whatever they're having that drink but their bill went from 60 down to 30 that's a $30 every time they go out to eat which means our money went farther but more importantly they weren't wasting it and able to save son get discounts on entertainment take advantage of free museum National Parks to stay<br> ask for discounts if you're a senior if your students are your military hey you could save a bunch of money that way also consider creating a social interaction with a group of people either through hiking at a park and a lake or whatever to where are you going to do is drive there you don't have the cost of gas all their gas is going up but it's less expensive than paying to go somewhere restrict online shopping you know what is so easy to to impulse stopped when you're online because then you just click it and they send it to you it's already paid hate consider doing this before you complete that online shopping deal make it so that you have to put in your credit card information you're dressed the whole shot that way you know it'll make you think a little bit more before you hit that imposed by the next thing you know you got something on your doorstep that you just paid for a make your own gifts do-it-yourself snow saving money on a gift ideas<br> my mom put together all of her recipes along with pictures from when she was little all the way through today with the whole family you know what the reality is a family love that gift and we'll keep it longer than that shirt or a gift card that we gave them last year in fact if it's it's a shirt or pair of jeans and shoes they probably don't return it and buy something else with it so it wasn't that important okay lower your car payment interest rates are low you could always refinance your car did not a problem and you know what that's it for the shaving with Steve so today I want to thank you all for joining us we had Lisa's for our two times you chose your creator was the ins-and-outs of what's going on with timeshare you're looking to save money whether or reduce your expenses to save money for emergencies travel house whatever you just gave you that next week we have Dismount bendler who's from magnifymoney she's going to be talking about how we can make sure we can bring people up that needs some help with their savings<br> how you could do it you can have a wonderful trip we're going to look forward to seeing you next week I want to thank you for joining us here right here on saving with Steve to stay healthy thank you for joining us for the saving with Steve show hosted by Steve Sexton to learn more about the show and how to become a guest or sponsor visit saving with Steve. Us that saving with Steve. Us join us again next time as we continue to talk about everything under the sun that relates to you having a healthier happier relationship with money this has been the saving with Steve show hosted by Steve Sexton<br>