Mojoe Posted November 8, 2013 Report Share Posted November 8, 2013 You sell off your toys and cut things back to just a beater that works great for $1500. Now what? What do you do different with your time (assuming you did stuff car related), the money you use to put in the toys, and the money you got from selling the toys? This isn't something I'm going through. I had a recent cenversation about people struggling that have a lot of toys, or are outside their means. So, it got me thinking of the above question. Maybe you got approved for a cool car, and now it's killing you, or you realize you didn't need that car right now. Or maybe you just have a bunch of fun toys and you sell them off. What now? Invest it? Use the $ in a home project? Focus more on a 2nd interest you have? Stuff it in the mattress? Go back to school? Stash it for the kids college fund? Quote Link to comment Share on other sites More sharing options...
90G60 Posted November 8, 2013 Report Share Posted November 8, 2013 I think about this every time I buy something new for the car. I'd like to think I would stash away the extra cash. Unfortunately, I would probably find a new hobby and spend it there. Maybe that's the best solution. Just need to find a less expensive hobby like crocheting. Is this in my family's best interest? Probably not. I would argue that without some sort of elective hobby in my life I would eventually go insane. Quote Link to comment Share on other sites More sharing options...
Dharris89 Posted November 8, 2013 Report Share Posted November 8, 2013 Invest in guns ammo and other things the government wants to ban. Seriously though, if I didn't have kids I would have a "save" and a "fun" fund and split any extra money. I feel saving is important but I don't want to wait till I'm too old to try and enjoy it. Quote Link to comment Share on other sites More sharing options...
Buckeye1647545503 Posted November 8, 2013 Report Share Posted November 8, 2013 Buy gold, guns and ammunition, and mre's Quote Link to comment Share on other sites More sharing options...
Miller Posted November 8, 2013 Report Share Posted November 8, 2013 Probably invest in anti-depressants or putting time into finding a suitable hobby. Quote Link to comment Share on other sites More sharing options...
Supplicium Posted November 8, 2013 Report Share Posted November 8, 2013 Invest all in dividend stocks, and reinvest them for the next 30 years then play with the toys. Quote Link to comment Share on other sites More sharing options...
zeitgeist57 Posted November 8, 2013 Report Share Posted November 8, 2013 It's an interesting psychological question: "If you abandon your hobby, what else would you do?" For car guys, so much of what makes us automotive/mechanical enthusiasts transfers into other areas of life. Some will focus on other projects, from landscaping/yardwork to home repair to small-engine work. For me, this past year was cray cray. I haven't had a garage for 7 months so small items that need attention on Cleetus and the Passat went unrepaired...but through all of that I still had a great year, switched jobs, enjoyed my family. Whatever extra money I usually wasted on car parts or car products was absorbed into home upgrades and bills. :fa: Quote Link to comment Share on other sites More sharing options...
Mojoe Posted November 8, 2013 Author Report Share Posted November 8, 2013 I would argue that without some sort of elective hobby in my life I would eventually go insane. I can relate to this. Invest in guns ammo and other things the government wants to ban. Buy gold, guns and ammunition, and mre's Amazingly, I was not angling toward this for the topic. But, I am a little suprized that you guys make that statement. Quote Link to comment Share on other sites More sharing options...
Mojoe Posted November 8, 2013 Author Report Share Posted November 8, 2013 Invest all in dividend stocks, and reinvest them for the next 30 years then play with the toys. Can your toys be an investment? Don't some toys hold value? Whatever extra money I usually wasted on car parts or car products was absorbed into home upgrades and bills. :fa: Home upgrade can relate to investing and retaining or improving home value. The bills part is something I struggled to find the balance with when I thought through this. What is an acceptable "Bill"? A mortgage and a car payment are typical. We know to try not to carry a balance on a CC. So what about other bills? $100+ a month cable/intrawebs, $100 a month cell phone, $50 in membership for something (gym, golf course, ....). Do we get to the point where we cut too many luxuries and don't enjoy ourselves? Are these the luxuries we can do without and not struggle? Quote Link to comment Share on other sites More sharing options...
Cordell Posted November 8, 2013 Report Share Posted November 8, 2013 Wouldn't make the decision to get rid of toys, maybe to change toys or projects, or get something cheaper, but I cannot have nothing to tinker with or race. I don't have anything else that interests me nearly as much as cars and racing. Quote Link to comment Share on other sites More sharing options...
gillbot Posted November 8, 2013 Report Share Posted November 8, 2013 kids /life Quote Link to comment Share on other sites More sharing options...
lag wagon Posted November 8, 2013 Report Share Posted November 8, 2013 Buy gold, guns and ammunition, and mre's Little, travel-sized bottles of Jack Daniels. That's my SHTF barter plan. Quote Link to comment Share on other sites More sharing options...
zeitgeist57 Posted November 8, 2013 Report Share Posted November 8, 2013 Can your toys be an investment? Don't some toys hold value? Home upgrade can relate to investing and retaining or improving home value. The bills part is something I struggled to find the balance with when I thought through this. What is an acceptable "Bill"? A mortgage and a car payment are typical. We know to try not to carry a balance on a CC. So what about other bills? $100+ a month cable/intrawebs, $100 a month cell phone, $50 in membership for something (gym, golf course, ....). Do we get to the point where we cut too many luxuries and don't enjoy ourselves? Are these the luxuries we can do without and not struggle? Joe, once you have kids... Medical bills, haircuts, cheques to some drive/fundraiser, programs, uniforms, food, broken shit, blah blah blah... I can verify we're far more frugal than most families when it comes to managing living expenses, but living the good family life costs money. Quote Link to comment Share on other sites More sharing options...
POS VETT Posted November 8, 2013 Report Share Posted November 8, 2013 I'll let you know when I got there, I'm en route. Quote Link to comment Share on other sites More sharing options...
TTQ B4U Posted November 8, 2013 Report Share Posted November 8, 2013 You sell off your toys and cut things back to just a beater that works great for $1500. Now what? What do you do different with your time (assuming you did stuff car related), the money you use to put in the toys, and the money you got from selling the toys? This isn't something I'm going through. I had a recent cenversation about people struggling that have a lot of toys, or are outside their means. So, it got me thinking of the above question. Maybe you got approved for a cool car, and now it's killing you, or you realize you didn't need that car right now. Or maybe you just have a bunch of fun toys and you sell them off. What now? Invest it. It's been killing me not to pull the trigger on a new car or house, etc. but peace of mind knowing if I lost my job I could care less keeps me from doing it. Even the thought of putting money in a car right now is blah to me when I really think about it as it does nothing but drop in value. Maybe it's a phase I'm in but I do know at some point, I'll have more really cool toys. Our next investment is a home for my mother in law. She's going to rent it from us. Ready for the jokes on that one. Quote Link to comment Share on other sites More sharing options...
Littleguy Posted November 8, 2013 Report Share Posted November 8, 2013 Let's see, I'd probably invest a little more, but it's such a large portion of my income already that it wouldn't change much. Truthfully, I'd probably buy nicer suites, nicer furniture and not much else. Quote Link to comment Share on other sites More sharing options...
Patterson Posted November 8, 2013 Report Share Posted November 8, 2013 Joe, once you have kids... Medical bills, haircuts, cheques to some drive/fundraiser, programs, uniforms, food, broken shit, blah blah blah... I can verify we're far more frugal than most families when it comes to managing living expenses, but living the good family life costs money. Cheques? Going Canadian Clay? I'm with Clay on this one. Priorities will dictate your situation. Quote Link to comment Share on other sites More sharing options...
turbospec29 Posted November 8, 2013 Report Share Posted November 8, 2013 2 girls at the same time. Quote Link to comment Share on other sites More sharing options...
copperhead Posted November 9, 2013 Report Share Posted November 9, 2013 Kids, investing either in a business or stocks (something that brings in money), guns. In that order. Although after rocking a $500 daily driver for over two years now, I'm ready for a reasonably priced daily that is still fun to drive, but something that will stay completely stock. Quote Link to comment Share on other sites More sharing options...
gillbot Posted November 9, 2013 Report Share Posted November 9, 2013 Invest it. It's been killing me not to pull the trigger on a new car or house, etc. but peace of mind knowing if I lost my job I could care less keeps me from doing it. Even the thought of putting money in a car right now is blah to me when I really think about it as it does nothing but drop in value. Maybe it's a phase I'm in but I do know at some point, I'll have more really cool toys. Our next investment is a home for my mother in law. She's going to rent it from us. Ready for the jokes on that one. THIS ^ That's pretty much the main thing we look at now. Reduce debt and wait for the SHTF to start. Quote Link to comment Share on other sites More sharing options...
Not Brian Posted November 9, 2013 Report Share Posted November 9, 2013 This is exactly what I did so I can pay off debt and move forward. Can't say my life is very exciting right now but it will work out in the end. Quote Link to comment Share on other sites More sharing options...
Mojoe Posted November 9, 2013 Author Report Share Posted November 9, 2013 I'm reading, what I think are some very good things CR. Clay, there are no plans for kids. The "bills", you covered what I was asking. I have a pretty cut and dry lifestyle, so that's why I asked. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.