...until there's not enough

#cars

newsweek:

Most marriages don’t last nearly as long as Irven Gordon’s Volvo P1800 has lasted. And most couples probably don’t spend as much time together as Irv has spent in his beloved car. Irv says he hadn’t even heard of Volvos until a few days before he bought the car, on June 30, 1966.
At the time, he was fed up with his turbocharged 1963 Corvair Spyder, which he says was constantly making him late for his middle school science teaching job by breaking down en route. While thumbing through a Car and Driver with a car savvy friend, he stumbled upon an ad for the local Volvo dealership, with a photo of a P1800.
“These are great cars,” the friend told him. So down he went to Volvoville in Huntington, NY, and took a P1800 convertible for a spin. He drove for three hours, and then bought the much less expensive coupe, for $4,150, or $30,000 in current dollars, approximately his then annual salary. That first weekend, Irv rolled 1,500 miles, returning to the dealership on Monday for his car’s first checkup. He hadn’t planned to drive through the weekend, but he says he was having too much fun to stop—up to Boston, down to Philly, and all over in between before returning to his home on Long Island. He’s been driving the P1800 enthusiastically ever since. On September 24th of last year, he hit 3 million miles.
The Man For Whom They Made The Three Million Mile Badge)

I want to figure out how much money this saved him over the years - maintaining rather than discarding. What would you guess?
newsweek:

Most marriages don’t last nearly as long as Irven Gordon’s Volvo P1800 has lasted. And most couples probably don’t spend as much time together as Irv has spent in his beloved car. Irv says he hadn’t even heard of Volvos until a few days before he bought the car, on June 30, 1966.
At the time, he was fed up with his turbocharged 1963 Corvair Spyder, which he says was constantly making him late for his middle school science teaching job by breaking down en route. While thumbing through a Car and Driver with a car savvy friend, he stumbled upon an ad for the local Volvo dealership, with a photo of a P1800.
“These are great cars,” the friend told him. So down he went to Volvoville in Huntington, NY, and took a P1800 convertible for a spin. He drove for three hours, and then bought the much less expensive coupe, for $4,150, or $30,000 in current dollars, approximately his then annual salary. That first weekend, Irv rolled 1,500 miles, returning to the dealership on Monday for his car’s first checkup. He hadn’t planned to drive through the weekend, but he says he was having too much fun to stop—up to Boston, down to Philly, and all over in between before returning to his home on Long Island. He’s been driving the P1800 enthusiastically ever since. On September 24th of last year, he hit 3 million miles.
The Man For Whom They Made The Three Million Mile Badge)

I want to figure out how much money this saved him over the years - maintaining rather than discarding. What would you guess?

newsweek:

Most marriages don’t last nearly as long as Irven Gordon’s Volvo P1800 has lasted. And most couples probably don’t spend as much time together as Irv has spent in his beloved car. Irv says he hadn’t even heard of Volvos until a few days before he bought the car, on June 30, 1966.

At the time, he was fed up with his turbocharged 1963 Corvair Spyder, which he says was constantly making him late for his middle school science teaching job by breaking down en route. While thumbing through a Car and Driver with a car savvy friend, he stumbled upon an ad for the local Volvo dealership, with a photo of a P1800.

“These are great cars,” the friend told him. So down he went to Volvoville in Huntington, NY, and took a P1800 convertible for a spin. He drove for three hours, and then bought the much less expensive coupe, for $4,150, or $30,000 in current dollars, approximately his then annual salary. That first weekend, Irv rolled 1,500 miles, returning to the dealership on Monday for his car’s first checkup. He hadn’t planned to drive through the weekend, but he says he was having too much fun to stop—up to Boston, down to Philly, and all over in between before returning to his home on Long Island. He’s been driving the P1800 enthusiastically ever since. On September 24th of last year, he hit 3 million miles.

The Man For Whom They Made The Three Million Mile Badge)

I want to figure out how much money this saved him over the years - maintaining rather than discarding. What would you guess?

Don’t make big purchases after an emotional event

Let me start by saying that I’m probably more emotionally invested in Oklahoma Sooners football than I should be.  Today, we lost to our arch rival, the Texas Longhorns.  It was unexpected, and it sucks.

Several years ago, we were in the market for a car.  We decided to go look at some after a similar loss.  We ended up purchasing a car that we regretted a few months down the road.  It was too expensive, and it wasn’t even what we really wanted.  Looking back, we were bummed by our team’s loss, and it really clouded our judgement on that one.  We wanted to feel better, and the car was exciting.

You may or may not be into football, but this advice holds true for everyone.  Whether it’s a positive or negative emotional event, make it a point to put off big financial decisions until you come back down to earth.

Look at these fees for renewing your car registration online

AUTOMATION FEE - 2.00
MAIL IN FEE - 1.00
Electronic Processing (NON-REFUNDABLE) - 2.00

"Automation fee" - I’m assuming that’s for doing it online, fine.

"Mail in fee" - Wait, what? I’m doing it online…

"Electronic processing" - I THOUGHT THAT WAS THE AUTOMATION FEE ARRGGHGGHGHGHGH!!!

Next time, don’t feel the need to be so sneaky. Just put "P.S. We’re also stealing $5 from you", and I’ll respect your honesty.

7 Personal Finance Lessons I Learned in My Twenties

I turn 30 next week [gulps audibly]. Now that I’m an old man, I thought this would be a good time for me to share some of the financial things I did right, plus a few of the things I did very wrong during my twenties. [Note: I wrote this with my 5 day old daughter sleeping on my lap. It would have been 10 things, but I could only think of 7 before she needed a diaper change.]

  1. I started saving for retirement early. You’ve heard it a million times, but I’m telling you, start saving for retirement NOW. I got my first post-collegiate job at 22, and I promptly set up my 401(k). Every time I check the balance these days, I can’t help but smile.
  2. I spent too much money on cars. I’ve mentioned before that the biggest financial mistake I ever made involved a car. As I’ve gotten older, I’ve learned that they’re just tools for getting you from point A to B. I should have known that new car bliss only lasts for about a month, but the payments last for years. Thankfully, I learned from my personal tendencies, and do what’s best for me in the long run.
  3. I kept investing even when things looked bad. A lot of people decided to sell their investments when the market bottomed out. I decided to keep buying, and I doubled that money when things came back around. Remember, buy low and sell high.
  4. I stayed at a job I hated for way too long. The money was good, and I couldn’t walk away despite the fact that my health and relationships were suffering. The term “golden handcuffs” is a real thing, and I’ll never fall victim to it again. It’s just not worth it in the big scheme of things. On the bright side, the things I learned at that job helped me with this site.
  5. I automated everything. I can’t tell you how much money I’ve saved by having my bill payments and monthly savings automated. I socked away more cash than I would’ve if I had been moving it manually, and I avoided late fees from missed payments.
  6. I splurged every now and then. Spending more than you should is good for you now and then. However, there is a smart way to do it. Spend your money on experiences, or things that can be sold later to recoup some or all of the cost.
  7. I started this blog. I wanted to share some of the things I had been taught with the world, but I ended up learning more than I ever imagined. Over 178,000 people follow this site these days, so I feel more of a responsibility than ever to give sound advice. As I dig for content for this site, it has led me to awesome advice that I never would have come across otherwise. If you want to take your expertise in something to the next level, just start teaching what you know to others.
“If you can find a better price, we’ll beat it, or just give you the car!!!”
Car salesman don’t exactly have the best rep.  We all know that.  But, we can learn a thing or two from their sales tactics that will help us avoid unnecessary purchases down the road.
For instance, there are two different car dealerships in my area that say “If you can find a better price, we’ll match it, or just give you the car!”  This is a classic example of an psychological tactic that’s supposed to mitigate the risk element in a customer’s mind.  It’s designed to make you think, “This has to be the cheapest possible price on this car.  They don’t want to just give it away!”
But think about it—how many cars do you think they’ve “given away” based on this guarantee?  ZERO!  Just try to think of a situation where it would be better to give someone a car for free instead of beating a legitimate competitor’s price.  If it actually existed, this post would be about A PLACE WHERE EVERYONE CAN GET A CAR FOR FREE.
You’re probably thinking that you’d never make a purchase just because of an outrageous guarantee.  But, have you ever been convinced to buy something after someone said “If you don’t like it, simply return the item for a full refund—no questions asked.”  Now guess how many people actually take the time to get a refund.  Less than 5%.  People are lazy, and even if they don’t like the product, most won’t take the time to go through the hassle of returning it!
So, if you find yourself being talked into a purchase based on the conditions of the sale instead of things that have to do with the product itself, take a step back and rethink your decision.
“If you can find a better price, we’ll beat it, or just give you the car!!!”
Car salesman don’t exactly have the best rep.  We all know that.  But, we can learn a thing or two from their sales tactics that will help us avoid unnecessary purchases down the road.
For instance, there are two different car dealerships in my area that say “If you can find a better price, we’ll match it, or just give you the car!”  This is a classic example of an psychological tactic that’s supposed to mitigate the risk element in a customer’s mind.  It’s designed to make you think, “This has to be the cheapest possible price on this car.  They don’t want to just give it away!”
But think about it—how many cars do you think they’ve “given away” based on this guarantee?  ZERO!  Just try to think of a situation where it would be better to give someone a car for free instead of beating a legitimate competitor’s price.  If it actually existed, this post would be about A PLACE WHERE EVERYONE CAN GET A CAR FOR FREE.
You’re probably thinking that you’d never make a purchase just because of an outrageous guarantee.  But, have you ever been convinced to buy something after someone said “If you don’t like it, simply return the item for a full refund—no questions asked.”  Now guess how many people actually take the time to get a refund.  Less than 5%.  People are lazy, and even if they don’t like the product, most won’t take the time to go through the hassle of returning it!
So, if you find yourself being talked into a purchase based on the conditions of the sale instead of things that have to do with the product itself, take a step back and rethink your decision.

“If you can find a better price, we’ll beat it, or just give you the car!!!”

Car salesman don’t exactly have the best rep. We all know that. But, we can learn a thing or two from their sales tactics that will help us avoid unnecessary purchases down the road.

For instance, there are two different car dealerships in my area that say “If you can find a better price, we’ll match it, or just give you the car!” This is a classic example of an psychological tactic that’s supposed to mitigate the risk element in a customer’s mind. It’s designed to make you think, “This has to be the cheapest possible price on this car. They don’t want to just give it away!”

But think about it—how many cars do you think they’ve “given away” based on this guarantee? ZERO! Just try to think of a situation where it would be better to give someone a car for free instead of beating a legitimate competitor’s price. If it actually existed, this post would be about A PLACE WHERE EVERYONE CAN GET A CAR FOR FREE.

You’re probably thinking that you’d never make a purchase just because of an outrageous guarantee. But, have you ever been convinced to buy something after someone said “If you don’t like it, simply return the item for a full refund—no questions asked.” Now guess how many people actually take the time to get a refund. Less than 5%. People are lazy, and even if they don’t like the product, most won’t take the time to go through the hassle of returning it!

So, if you find yourself being talked into a purchase based on the conditions of the sale instead of things that have to do with the product itself, take a step back and rethink your decision.

Why do you really want a new car?
Anyone who owns a car has felt that itch to get a new one at some point.  We see the newer models drive by, and our mind begins to think about how great it would be to ditch our old ride for something shiny and new that doesn’t have crumbs filling the seat cracks.
But, think for a moment about the reasons you could be tempted into trading in your car for a new one.  You’re at the car dealership looking at the sun glinting off the hood.  You climb into the driver’s seat and take notice of the shiny dashboard, the freshly vacuumed carpet, and the wonderful smell.  You glance over at your old car and notice how crummy it looks in comparison.  Sure, it drives fine, but it just seems so…meh.
Now, think about what’s actually selling you here.  It’s not that the car is new.  It’s the fact that it’s clean.  You’re just yearning for a car that isn’t filled with dust and the smell of old french fries.
The good news is, you can have that without dropping $20,000 on a new car.
You might be surprised at how much more appealing your car is after it’s been washed, waxed, and detailed.  That’s how the dealerships can buy a 10 year old car for $2,500 and then turn around and sell it for $5,000.
Many people view a car detail as an unnecessary expense.  But, if spending $100 on a thorough cleaning keeps you from taking on a new monthly car payment, it’s actually one of the best financial moves you could ever make.
[image via]
Why do you really want a new car?
Anyone who owns a car has felt that itch to get a new one at some point.  We see the newer models drive by, and our mind begins to think about how great it would be to ditch our old ride for something shiny and new that doesn’t have crumbs filling the seat cracks.
But, think for a moment about the reasons you could be tempted into trading in your car for a new one.  You’re at the car dealership looking at the sun glinting off the hood.  You climb into the driver’s seat and take notice of the shiny dashboard, the freshly vacuumed carpet, and the wonderful smell.  You glance over at your old car and notice how crummy it looks in comparison.  Sure, it drives fine, but it just seems so…meh.
Now, think about what’s actually selling you here.  It’s not that the car is new.  It’s the fact that it’s clean.  You’re just yearning for a car that isn’t filled with dust and the smell of old french fries.
The good news is, you can have that without dropping $20,000 on a new car.
You might be surprised at how much more appealing your car is after it’s been washed, waxed, and detailed.  That’s how the dealerships can buy a 10 year old car for $2,500 and then turn around and sell it for $5,000.
Many people view a car detail as an unnecessary expense.  But, if spending $100 on a thorough cleaning keeps you from taking on a new monthly car payment, it’s actually one of the best financial moves you could ever make.
[image via]

Why do you really want a new car?

Anyone who owns a car has felt that itch to get a new one at some point.  We see the newer models drive by, and our mind begins to think about how great it would be to ditch our old ride for something shiny and new that doesn’t have crumbs filling the seat cracks.

But, think for a moment about the reasons you could be tempted into trading in your car for a new one.  You’re at the car dealership looking at the sun glinting off the hood.  You climb into the driver’s seat and take notice of the shiny dashboard, the freshly vacuumed carpet, and the wonderful smell.  You glance over at your old car and notice how crummy it looks in comparison.  Sure, it drives fine, but it just seems so…meh.

Now, think about what’s actually selling you here.  It’s not that the car is new.  It’s the fact that it’s cleanYou’re just yearning for a car that isn’t filled with dust and the smell of old french fries.

The good news is, you can have that without dropping $20,000 on a new car.

You might be surprised at how much more appealing your car is after it’s been washed, waxed, and detailed.  That’s how the dealerships can buy a 10 year old car for $2,500 and then turn around and sell it for $5,000.

Many people view a car detail as an unnecessary expense.  But, if spending $100 on a thorough cleaning keeps you from taking on a new monthly car payment, it’s actually one of the best financial moves you could ever make.

[image via]