Join Date: Jul 2005
Location: Quebexico, Canada
Ferrari Life Posts: 1,990
Erock, welcome to Ferrari Life....
Here is my 2 cents...
I’m going to talk about the other side of the coin. The guys who answered made excellent points and are great and dear friends of mine. But, I am going to talk from another level you might understand and where I came from at one time.
Being successful is one thing; living pay to pay is another completely different story. So what is the next step for you?
This is where you need to be honest with yourself, not for us, we in all honesty don’t care if you lie to us or not. This is not the point of this.
So the following questions seriously need to be on your list to think about....I am also going to give you helpful examples because these are some of the questions I asked myself 10 years ago (I said some not all).
What is pulling you down financially?
·You mentioned horses? Are you making double what they cost you? If not are they important to you?
·Do you own a vehicle that is costing you more in repairs than maybe a smaller vehicle that will be on warrantee for the next 3-4 years that will enable you to save money? And is it an unnecessary gas guzzler?
·Alcohol is a killer for money savings. I know friends who spend literally $400-$500 a month just on booze alone.
·Don’t laugh but is a woman costing you a fortune? I had a friend who’s girlfriend was such high maintenance she was costing him almost $1,000 a month to keep her happy.
Are you making the right decision with your money?
·I know people who spend money on hunting rifles because they are cool, spend $1,500-$2,000 per year, go hunting once with it, the next year sell them at less than half price like $700-$800 and buy a new one...
·Gambling? Casino or the Friday night poker game at Big John’s house
·Soft Drugs? (most won’t admit it)
·Restaurants 4-5 times a week or more (doesn’t include Timmies LOL)
·Are you addicted to using your Credit Card(s) that one is a killer...
Are you spending on other toys?
·ATV, dirt bikes, boats, R/C, high tech gadgets, whatever?
My last a final question I asked myself...
What are you willing to sacrifice maybe temporarily or permanently to achieve a goal?
·Anything in the above lists?
·Vacations in the south?
·Are you still a bartender? A part time job for a little while helps. Are you willing to have a second job? Can you afford time wise to have a second job? Because tips are nice. So taking all the tips you earn and instead of spending it daily, save it like you owe a loan shark named Pauly “The Shiv”
·You said you are good with a wrench, ever thought about buying cheap cars one at a time that needs repairs (you get part cheap) and fix them up and sell the cars in much better shape that you bought them. Even making $500-$1000 per car is still a great investment with your time when living pay to pay. My neighbour did it for 2 years fixing a car per month and reselling it at a little profit to continue paying his house when his girlfriend left. The house was his but the now missing money had hurt his final income for bills. After a while he was making 4-5K per car per month. Not bad for wasting weekends doing what he liked. Now you might be saying how can I afford cars when I live pay to pay, well what can you cut to save to get started? Booze? Anything????? Do you own a truck? Maybe buy a plow to make extra money on the side during the winter even if it’s a few contracts...You only need that first extra cash for maybe that first car to fix to get you started.....just an example.
·You said you bought a farm, do you rent space for horses? That pays awesome.
My final thought on all of this, people will say, “Think outside the box” I say and pardon my language.....that is the dumbest fucken saying I have ever heard. I you have created a box around your life and abilities to achieve something then you have already lost. I say what box? Do you see a box? I don’t see a stupid box.....start with the basics and move up from there. If you’re trying to figure out how to spend your gold without having a clue how to dig for it then you have already lost. Make a plan, stick to it, don’t let anyone pull you down and constantly evaluate yourself to ensure you are always on the right path to your success...not others.
Things to think about or get your juices flowing...
1990 348 TS (87284)
“I build cars for young men that only old men can afford” - Enzo Ferrari
Last edited by Magnum6464; 04-11-2011 at 05:28 PM.