Even More Reason
I ran into a buddy at the gym yesterday, and the first thing he said to me was about yesterday's post: "What if you don't have $50,000?" It was a reference to my story about the pile of cash test, where I challenged a client to withdraw $50,000 from the bank and set it on their kitchen table before officially deciding to put $50,000 toward a vehicle.
"What if you don't have $50,000?" It's a logical and realistic question, as $50,000 is a lot of money and many people simply don't possess $50,000. My answer?
"Even more reason not to do it!!!!"
"What, so if you don't have $50,000 in the bank, you shouldn't buy a car?" my friend asked.
"No, if you don't have $50,000 in the bank, you most certainly shouldn't be spending $50,000 on a car," I replied. His eyes got big, and he looked visibly agitated.
This isn't really about cars, though it's framed through the lens of a car purchase. At the heart of the matter is our modern-day assumption that we all deserve to buy whatever we want, regardless of context or reality. And debt allows that to happen.
I reminded my friend that the most money I've ever spent on a vehicle was $20,000. Why? Because that's how much money I had allocated and saved for said purchase. I suppose I could have pulled the trigger on a $50,000, $60,000, or even $80,000 vehicle had I wanted, but sabotaging my family's finances, freedom, and future with large debt payments isn't on my wish list of life. Instead, we buy what we can afford. That applies to cars, sure, but it's also a blanket statement of life. No debt.....period.
I know this is a weird way to approach life, and for many, it might seem limiting. However, there's something beautiful that happens to our psyche when we live in reality. It's powerful to know what's on the table and what's not. I don't think about buying luxury cars because it's simply not in my family's budget. Thus, I don't want. I don't covet. I don't fantasize. Instead, I try to live a meaningful life and embrace whatever beautiful reality we've created for ourselves. I encourage you to do the same.
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