New Visitors Privacy Policy Sponsorship Contact Us Media
Baby Boomers Family Green Home and Auto In Critical Condition Just Starting Out Lifestyle Money
- advertisement -
Bankrate.com
News & Advice Compare Rates Calculators
Rate Alerts  |  Glossary  |  Help
Mortgage Home
Equity
Auto CDs &
Investments
Retirement Checking &
Savings
Credit
Cards
Debt
Management
College
Finance
Taxes Personal
Finance

 
So, you want to buy an expensive sports toy?

OK, you've worked hard and done well, but stopping to smell the roses isn't what you want to do to celebrate -- you want to have some fun!

- advertisement -

Maybe go messing about in boats, snowmobile the winter away, or follow the Lewis and Clark route on a motorized "personal watercraft."

Today's sports toys cost big, big bucks, so before you take the plunge, devise a buying strategy that fits your lifestyle and budget.

"Remember, these are personal items, so they're going to be costly up front and you're going to pay a higher interest rate because you're buying a luxury," warns Ralph Guthrie, sales manager of Brookside Marina in Naples, Fla.

Let's consider your options and look at some examples.

Examples:

"A good walk spoilt"
Mark Twain once described golf as "a good walk spoilt."

Well, apparently, millions would beg to differ.

According to the National Golf Foundation, there are more than 18 million golfers in the United States alone, spending nearly $600 million annually for equipment to play on some 17,000 golf courses and an equal number of driving ranges. Golf is believed to be the fastest growing sport worldwide.

If you're looking to tote a bag of Tiger Woods-caliber clubs, figure on spending in the neighborhood of $100 per iron, $200 to $500 per wood and about $250 for bag and shoes.

And figure on paying with cash or a credit card.

"It would be awfully difficult for us to compete with credit cards," admits Hill Boswell, owner of World of Golf in Naples, Fla. "The credit card has displaced any chance of us becoming financiers."

 
 
Next
Page | 1 | 2 |
 
 RESOURCES
Finding the grill of your dreams
Checking out options for your grill
A penny saved is in Frugal News
 TOP STORIES
Video: 5 myths about going green
5 myths about going green
Video: Ways to keep produce fresh
 

Compare Rates
NATIONAL OVERNIGHT AVERAGES
30 yr fixed mtg 4.45%
48 month new car loan 3.77%
1 yr CD 0.89%
Rates may include points
RELATED CALCULATORS
  How much life insurance do I need?  
  Calculate your payment on any loan  
  What will it take to save for a goal?  
VIEW ALL  
BASICS SERIES
Begin with personal finance fundamentals:
Auto Loans
Checking
Credit Cards
Debt Consolidation
Insurance
Investing
Home Equity
Mortgages
Student Loans
Taxes
Retirement
FINANCIAL LITERACY
Rev up your portfolio
with these tips and tricks.
- advertisement -

About Bankrate | Privacy Policy/Your California Privacy Rights | Online Media Kit | Partnerships | Investor Relations | Press Room | Contact Us | Sitemap
NYSE: RATE | RSS Feeds |

* Mortgage rate may include points. See rate tables for details. Click here.
* To see the definition of overnight averages click here.

Bankrate.com ®, Copyright © 2014 Bankrate, Inc., All Rights Reserved, Terms of Use.