Posts Tagged ‘inflation’

Holidays for a lifetime – or not?


A timeshare is a jointly owned property, usually an apartment in a resort   that is jointly owned by people who use it at different times. In other words, timeshare is the right to spend a specified period of time (say, a week or more) in a vacation/holiday property. For instance, if a person purchases a timeshare for one week at a resort in Goa, he will have the right to spend one week there each year. In such a case, there may be up to 52 timeshare owners in the same resort each year.

The memberships are long-term — usually for 15 or 25 years — and members pay annual fees towards maintenance charges like upkeep of property, utilities or staff salaries

Apartments are fully furnished with well-equipped kitchens. The time share period can be used as currency that gives an option to the timeshare owners of holidaying at different places each year through the exchange facility extended by most of the timeshare companies.

The amount you pay depends on the location, the time you choose and the size of the accommodation.  You can also choose your vacation time of the year – peak, off peak and off seasons and the payment you make will vary accordingly.

Most timeshare companies are affiliated with RCI which offers national and international locations for exchange by pooling in many other companies.

Are they right choice for you?

Timeshare resorts offer sounds fantastic. But there are a few grey areas that you should be careful about.

Choose timeshare holidays if:

–          You can plan your holiday well in advance – The most popular destinations are booked months in advance, so if you are a last minute guy, time share is not the answer for you.

–          Holiday regularly – Timeshare vacations usually offer a week of holiday each year, so you will make a good deal if you take a vacation regularly with your family.

–          Understand the extra costs – Timeshare vacations are not a package tour. Besides stay, everything else is charged to you which includes travel, food, sightseeing etc.

–          Are prepared for rise in cost – Inspite of the sales agents claims to the contrary, time share vacations are not inflation proof. The annual charges are increased from time to time.


Precautions to take before choosing a timeshare

Scam artist are a dime a dozen, however there are many genuine timeshare companies offering great vacation plans. Here is what you can do ensure you get a good deal.


  • Verify the reputation of the company and experiences of existing customers.
  • Invest in an established company, a high-demand location, peak season and a large unit for maximum trading power.
  • Check the rate at which the charges increased and on what basis.
  • Companies should give you benefits such as a 10-day cooling-off period to reconsider your decision.
  • Do not be pushed into hasty payments with hard selling talks and upfront gifts – investigate before you invest.
  • Do consult your family; it is their vacation too.



Inflation and currency with an expiry date

In a sign of the growing worthlessness of Zimbabwe’s currency, the country’s central bank on Tuesday introduced two new banknotes – a Z$100 million note and a Z$250 million note.

The launch of the new notes, which was announced on state television, comes barely a month after the Reserve Bank launched what has been until now the largest single note – Z$50 million.

But with inflation running at over 2.2 million percent per annum, Z$50 million no longer buys a loaf of bread, which costs about Z$80 million. A bunch of five bananas also comes out at close to Z$100 million.

The new notes, like all Zimbabwean bank notes, are bearer’s cheques with an expiry date. The smaller notes expire at the end of June 2008.

Regular issues of banknotes have not been in circulation at all since the country’s monetary reform of 1 August 2006, because of heavy inflation. In addition different denominations of the Zimbabwe dollar were issued to cope with the rapidly rising cost of living. There are currently two types of Zimbabwean promissory notes in circulation: Bearer Cheques, which carry a time limit on the period in which it is valid for. On 15 May 2008, Special Agro Cheques (Agricultural Cheques) were issued for use by Zimbabwean farmers, although it may have found its way into regular use as prices continue to rise. These cheques also carry a time limit and a low level of security features. Currently both cheques carry the signature of the Governor, Dr. Gideon Gono.

Are we still complaining about inflation ?

Latest Update: Zimbabwe’s bank chief plans new currency reforms — removing “more zeros” from the plummeting Zimbabwe dollar and raising the limit on cash withdrawals — to tackle the country’s runaway inflation and cash shortages, state media reported Sunday.