If You Don’t Buy Today, Then Sell
We all have a mess, but we tend to appreciate what we spent a lot of money on or what we were given. Financial blogger Mr. Mani Usat provides some simple tips to combat this: “If you are not buying this, you should probably sell.”
It uses some rather expensive examples like machine:
In the opening story, the all-new Mustachian is currently saddled with the economical 2010 Mazda CX-9 SUV, which will retail for around $ 12,000 in the used car market. If she started from scratch with $ 12,000 in her wallet and no car, would she buy the same car? Or perhaps a 2010 Honda Fit that handles better will cut operating costs in half and cost more than $ 3,000 less?
The $ 3,000 difference plus savings of $ 2,500 per year in fuel, depreciation, and maintenance would result in a difference in wealth in excess of $ 30,000 per decade because of this single solution . Not many people realize the overwhelming consequences of choosing the wrong car, which is why SUVs do exist. But now that new knowledge has been obtained, it is time to act. Since she wouldn’t buy an SUV right now, she should be selling an SUV right now.
However, this also applies to the little things. For example: I recently got married and someone gave us a very beautiful waffle iron … which I knew we would rarely use despite my wife’s excitement. She wondered whether to keep it for herself, so I asked, “If you didn’t have it, would you buy it?” She immediately said no, which was a hint that we should exchange it for what we really need.
So the next time you feel like you need to save something because you “could use it,” or because someone gave it to you, or because it’s already in your closet, ask yourself will you buy it again today. If not, maybe it’s time to sell it. Check out Mr. Money Mustache below.
If you hadn’t bought this, you probably should have sold this | Mister money mustache