kokopelli wrote:
For myself, I only ever borrowed money to buy a car once. That was one expensive car by the time I paid all the interest and everything, but I drove it for years. Now, if I need a car, I buy one used that I can afford without borrowing money.
I've also known people who inherited quite a bit of money. While not borrowing, per se, they were borrowing from their future. For example, I know one couple who were once worth millions. They liked to spend so much and go on vacations and buy new vehicles and live in the fanciest mansions that they are now believed to be broke. They had everything and threw it away to support their lavish consumption.
My newest car is old enough to get antique tags next year in Kansas. I left it at my mother’s house for her to use if she ever needs it. Where I am at has good public transportation, so I use it regularly. I see no reason to buy a new car, as that is just a losing proposition over time. As soon as you drive it off of the lot, the value goes down. I would rather own an older one that I can repair myself than one that I must pay to get repaired.
Most would never guess someone with a doctorate would ride the bus, but that is just the case. I have had some assume that I am homeless because I take the bus even. If they only knew that I was saving thousands each year riding the bus instead of driving. They just do not get it. The bus route is literally one block away from my apartment and goes directly to my work place three miles away. My bus pass costs a couple hundred dollars per year, much less than what insurance on a cheap car here would cost, let alone the gasoline I would use.
So many people play the “Keeping Up With The Jones” game. In the end, it does not help them. They just go through money that they could be saving up for a rainy day. There are no winners in that game except those who choose not to play.
14 Dec 2024, 9:29 am
