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But luxury cars are generally bad investments and can be total money pits.
At that point, switching to a non-luxury car often feels difficult.
The majority of folks would opt for the hotel without hesitation.
But these high-end travel experiences can really blow up your financial life.
Like luxury cars, its hard to return once youve stayed in a five-star hotel, Weiss said.
Timeshares or Vacation Homes
On the travel note, you should also steer clear of timeshares.
These just arent worth it.
The same goes for vacation homes.
These costs can erode long-term financial health.
The Latest Tech Gadgets
Have you seen all the fancy new tech thats coming out in 2025?
But the latest and greatest tech is often absurdly expensive.
you’ve got the option to do without it.
Permanent Life Insurance Policies
Heres one thats really important and less talked about:permanent life insurance.
Many financial experts vocally despise permanent life insurance for most (emphasis onmost) folks.
Most people are better off buying a term policy and investing the difference, ideally in tax-advantaged accounts.
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