EP 018: Buying My Dream Car… Is This My Worst Money Decision Ever?

I did it.
I bought my dream car.

It was a crazy experience and almost didn’t happen!
(you can hear more about that in the video)

Anyhow, what was really surprising for me…

I have never felt so many different emotions around a purchase.

I went back and forth on the decision several times and almost pulled out of the purchase at the last minute.

…Do I deserve the car?
…How can I think about buying my dream car when I have a family to provide for?
…This is selfish 

…Do I really want to live my life without having the experience of having a nice car?
…You can always sell it if it doesn’t work out?
…When was the last time you bought something for yourself to enjoy?

It’s amazing what our brains can do.
We can find a way to justify just about anything.

I had to pull myself up and ask.
Why am I struggling so much with the decision?

I have bought cars before without feeling like this.

Especially after putting in so many years getting my finances sorted.
I’m paying cash and not risking my financial position.

Then it hit me.

This purchase is purely for me.

I hadn’t done that since starting my business.

I had put off buying things for myself and put my family and business as the priorities.

I didn’t realise I had become so accustomed to delaying my own gratification.

It was proving challenging to flip the switch into enjoying something today.

I realised how easy it would be for me to put off ever enjoying my life. 

It was time to enjoy something for me.

If you want to hear more about the whole experience of buying my dream car then check out the podcast episode.

All information we share is NOT financial or investment advice and is purely intended for entertainment and educational purposes only. Always seek professional advice before acting on any financial decision.

Episode Highlights:

00:00 Welcome to Business and Investing
02:07 Balancing delayed gratification with enjoying life
08:39 What car Charley bought and why
15:47 Buying expensive collectibles as investments
19:16 Buying to impress others vs buying for yourself
20:04 Life is not just about accumulating wealth
26:11 The story of Charley acquiring the car
36:17 Everything good requires a bit of pain to achieve
41:21 Expanding your network through buying collectibles
43:49 Where the car stands in Charley’s balance sheet
46:08 Rewiring your mindset on investing and celebrating milestones
49:35 Assessing your milestone purchase relative to your wealth
54:54 Life is short, have some fun

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