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Wait Until It No Longer Matters...

SparksCW

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A couple of years ago I was working full time for someone else, I was earning okay but it was very average, exchanging a lot of time for not a lot of money in comparison and it was very stressful.

I love cars and I really wanted a Range Rover Evoque, I did the sums, made a spread sheet, spoke to two different dealers and then finally agreed and ordered my car.

After a long 9 month wait for it to be built I picked it up! Amazing day!

All was great for the first 8 months or so..

Then, my wife who was on maternity leave at the time, was pretty much refused a change of working hours and given no choice but to give up work, losing a small, but necessary salary.

At the same time my employer decided to give me a sizeable pay cut (for no reason) AND stop paying mileage for using my own vehicle!

All in all we lost about 40% income over night at a time when we had no savings and I was trying to grow a sideline business. We were also planning our wedding which as you can imagine cost a lot of money.

Luckily I had the sense to sell the car quickly before it caused me real issues.

The point being though, if you have to make a spreadsheet to work out if you can afford something then you really can't afford it!

Simple!

I quit my job 6 months after the pay cut for various reasons and have never looked back. Things are starting to go really well working on my own company and in my head I'm looking at cars again, it's very hard not to buy something as if you put the right figures into a spreadsheet you can "probably" afford it.

It's not rocket science, this is just a real life example of what MJ covers in the Fastlane book.

But wait until it doesn't matter....

Wait until you don't need to make a spreadsheet to see if you can afford an extra $500 a month for a luxury.

Focus on increasing the income until it doesn't matter and you'll thank your self for it later.
 

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404profound

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Aug 27, 2017
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Desert of Desertion
A couple of years ago I was working full time for someone else, I was earning okay but it was very average, exchanging a lot of time for not a lot of money in comparison and it was very stressful.

I love cars and I really wanted a Range Rover Evoque, I did the sums, made a spread sheet, spoke to two different dealers and then finally agreed and ordered my car.

After a long 9 month wait for it to be built I picked it up! Amazing day!

All was great for the first 8 months or so..

Then, my wife who was on maternity leave at the time, was pretty much refused a change of working hours and given no choice but to give up work, losing a small, but necessary salary.

At the same time my employer decided to give me a sizeable pay cut (for no reason) AND stop paying mileage for using my own vehicle!

All in all we lost about 40% income over night at a time when we had no savings and I was trying to grow a sideline business. We were also planning our wedding which as you can imagine cost a lot of money.

Luckily I had the sense to sell the car quickly before it caused me real issues.

The point being though, if you have to make a spreadsheet to work out if you can afford something then you really can't afford it!

Simple!

I quit my job 6 months after the pay cut for various reasons and have never looked back. Things are starting to go really well working on my own company and in my head I'm looking at cars again, it's very hard not to buy something as if you put the right figures into a spreadsheet you can "probably" afford it.

It's not rocket science, this is just a real life example of what MJ covers in the Fastlane book.

But wait until it doesn't matter....

Wait until you don't need to make a spreadsheet to see if you can afford an extra $500 a month for a luxury.

Focus on increasing the income until it doesn't matter and you'll thank your self for it later.
Yup, great story about going from event to process. Chasing the event gets us all in trouble. Even with a six figure salary working a JOB, the city I live in is livable without a car, so I don't even have one. I find that a lot of my friends buying BMWs, Mercedes, etc. are compensating for poor life satisfaction. That's why so many of those ads talk about "drive what excites" or "the best, or nothing"... the car makers are appealing to what they know are insecurities in the market's mind.
 

JohnD Realestate

Making Real Estate Great Again.
FASTLANE INSIDER
Read Millionaire Fastlane
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A couple of years ago I was working full time for someone else, I was earning okay but it was very average, exchanging a lot of time for not a lot of money in comparison and it was very stressful.

I love cars and I really wanted a Range Rover Evoque, I did the sums, made a spread sheet, spoke to two different dealers and then finally agreed and ordered my car.

After a long 9 month wait for it to be built I picked it up! Amazing day!

All was great for the first 8 months or so..

Then, my wife who was on maternity leave at the time, was pretty much refused a change of working hours and given no choice but to give up work, losing a small, but necessary salary.

At the same time my employer decided to give me a sizeable pay cut (for no reason) AND stop paying mileage for using my own vehicle!

All in all we lost about 40% income over night at a time when we had no savings and I was trying to grow a sideline business. We were also planning our wedding which as you can imagine cost a lot of money.

Luckily I had the sense to sell the car quickly before it caused me real issues.

The point being though, if you have to make a spreadsheet to work out if you can afford something then you really can't afford it!

Simple!

I quit my job 6 months after the pay cut for various reasons and have never looked back. Things are starting to go really well working on my own company and in my head I'm looking at cars again, it's very hard not to buy something as if you put the right figures into a spreadsheet you can "probably" afford it.

It's not rocket science, this is just a real life example of what MJ covers in the Fastlane book.

But wait until it doesn't matter....

Wait until you don't need to make a spreadsheet to see if you can afford an extra $500 a month for a luxury.

Focus on increasing the income until it doesn't matter and you'll thank your self for it later.
This time last year I was selling my first big RE deal. Million dollar profit, but just barely.

I was thinking to pick up a used Tesla. I’m 45 never owned a new car. My wife does a new car every three years with a lease but not me. 12 year old CRV.

So anyway I held off and took a big risk and put it all (except a decent amount that i used to pay off some debt from our new house Reno) in on a new RE biz. So the other day my check engine light is on. The mechanic says I need a new engine

Biz can afford a lease. On a civic or similar price. Now the biz is really struggling, but 160 a month won’t make a difference. Thank God I didn’t get the Tesla. That was 65k. And at the time I was thinking it’s less than 10% of my profit. I’ll keep it for 10-15 years. Blah blah blah I deserve it. Nope.

I would have paid cash and it would be a big problem right now.

Grant cardone has something he always says. I really like invest like a billionaire like like your broke...paraphrasing.
 

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