Priorities of life
Discussion
I was just wondering how high up people put their priories such as owning their car?
I have a love for cars. My current dream car is a bmw m235i, which isn't hugely expensive (around 15k), but with my income and outgoing expenses etc, I would need to tighten my belt, maybe get a little part time job over the weekend.
Everyone I speak to has the mindset to not bother with owning 'nice' cars or living extravagent lives etc, instead save and invest, save and invest.
I've almost gotten into that mindset as well with the feeling I don't want to be left behind, and live a more comfortable life in the future is THE most important thing, so owning a car I want isn't on my radar anymore. Clearing my mortgage, or saving for a deposit for a second home to rent out to be able to live a more comfortable life when older is the most important thing.
I do have my moments like now, where I wonder what the point of that is? Why look so far into the future, instead of living in the present and doing things I enjoy now. Do the people I speak to that talk about owning flashy car just to show off different type of person to me? and I should have my own mindset on this.
I couldn't care less what other people think about the car I drive. I like idea of putting some nice carbon fibre bits on it, maybe getting a remap done, stuff that is seen by some to be again showing off, but for me it would be purely for my own satisfaction.
That's everyone's mindset for this sort of thing?
I have a love for cars. My current dream car is a bmw m235i, which isn't hugely expensive (around 15k), but with my income and outgoing expenses etc, I would need to tighten my belt, maybe get a little part time job over the weekend.
Everyone I speak to has the mindset to not bother with owning 'nice' cars or living extravagent lives etc, instead save and invest, save and invest.
I've almost gotten into that mindset as well with the feeling I don't want to be left behind, and live a more comfortable life in the future is THE most important thing, so owning a car I want isn't on my radar anymore. Clearing my mortgage, or saving for a deposit for a second home to rent out to be able to live a more comfortable life when older is the most important thing.
I do have my moments like now, where I wonder what the point of that is? Why look so far into the future, instead of living in the present and doing things I enjoy now. Do the people I speak to that talk about owning flashy car just to show off different type of person to me? and I should have my own mindset on this.
I couldn't care less what other people think about the car I drive. I like idea of putting some nice carbon fibre bits on it, maybe getting a remap done, stuff that is seen by some to be again showing off, but for me it would be purely for my own satisfaction.
That's everyone's mindset for this sort of thing?
I get paid, pay my bills, put a set amount aside for savings/the future, then the rest I spend on enjoying my life, which is mainly cars and track days, and also a skydive next month!
For me balance is the key, I don’t want to live like a hermit, have loads of cash and die at 40 anyway, and i equally don’t want to blast the lot every month and end up living still im a 100 and skint!
For me balance is the key, I don’t want to live like a hermit, have loads of cash and die at 40 anyway, and i equally don’t want to blast the lot every month and end up living still im a 100 and skint!
I have a friend who has recently retired at the age of 56, never got married, no children, not been on holiday for years, zero interests other than golf - all so he could stick as much as possible into his pension pot
I have lived a life, similar age, yes putting money into my pension but can't retire for a good while yet. Have a wife, son and been on some great holidays that provide great memories., had some great cars and still do
Do I envy my friend - not really, he is retired but lonely and only has years of work and sacrifice to look back on.
No right or wrong in this but I prefer to live for the here and now - I hope to but I may never even reach retirement age
I have lived a life, similar age, yes putting money into my pension but can't retire for a good while yet. Have a wife, son and been on some great holidays that provide great memories., had some great cars and still do
Do I envy my friend - not really, he is retired but lonely and only has years of work and sacrifice to look back on.
No right or wrong in this but I prefer to live for the here and now - I hope to but I may never even reach retirement age
No reason not to be able to do both if you buy the right car.
I’ve had a several years of nothing more than a shed, and thought that before I have kids etc and be a bit more sensible with setting myself up for the future, and before such cars become too expensive to buy/run as we March towards EVs, I’d have my dream car for a year or so.
Recently bought a V8 Vantage I’m having the most wonderful time with it. Can’t wait for summer.
No depreciation (well maybe there will be now with economic events!!! Or maybe not as more people snap these up…. No idea) and a well sorted one I aim get out of after having my fun with it.
It’s a tick it off, get it out of my system type thing
I’ve had a several years of nothing more than a shed, and thought that before I have kids etc and be a bit more sensible with setting myself up for the future, and before such cars become too expensive to buy/run as we March towards EVs, I’d have my dream car for a year or so.
Recently bought a V8 Vantage I’m having the most wonderful time with it. Can’t wait for summer.
No depreciation (well maybe there will be now with economic events!!! Or maybe not as more people snap these up…. No idea) and a well sorted one I aim get out of after having my fun with it.
It’s a tick it off, get it out of my system type thing
Whatever you do, it needs to be a balanceD approach, don't spend it all now and don't save it all.
As the previous poster said, pay your bills, put some aside for later in life and enjoy the rest.
When you are enjoying it, you are building memories for the fireside/rocking chair moments later in life.
With regards to spending on a car, what I do, is look at The car I want, look at my budget and then see how old I have to go before the 2 meet.
It also depends on how old you are, I'm still working, but getting on a bit, I have taken a lump sum from one of my pensions and finally bought a classic BMW (88 7 Series) which will hopefully last me for a good few years of tinkering and wafting. My daily driver is a 275k mile Octavia, so you can see where my priorities are, I'm building memories with the 7 series and getting from A to B in the Octavia. It also doesn't matter to me if the 7 sits in the garage broken for a while as I also like to tinker and fix things (hopefully it won't get too expensive).
I also find spreadsheets are quite good for being totally logically and pragmatic about some things as they can tell you whether or not you could afford X if you did Y. Takes the heart out of it I know, but sometimes the spreadsheet says YES and you have something to look forward to as well.
Remember, balance is the key, and there are some great cars out there for some great prices if your budget is limited. An E46 330i 3 Series would make a fine, cheaper option to the M235i for example, especially if you find a good one and look after it, there will be very little depreciation.
As the previous poster said, pay your bills, put some aside for later in life and enjoy the rest.
When you are enjoying it, you are building memories for the fireside/rocking chair moments later in life.
With regards to spending on a car, what I do, is look at The car I want, look at my budget and then see how old I have to go before the 2 meet.
It also depends on how old you are, I'm still working, but getting on a bit, I have taken a lump sum from one of my pensions and finally bought a classic BMW (88 7 Series) which will hopefully last me for a good few years of tinkering and wafting. My daily driver is a 275k mile Octavia, so you can see where my priorities are, I'm building memories with the 7 series and getting from A to B in the Octavia. It also doesn't matter to me if the 7 sits in the garage broken for a while as I also like to tinker and fix things (hopefully it won't get too expensive).
I also find spreadsheets are quite good for being totally logically and pragmatic about some things as they can tell you whether or not you could afford X if you did Y. Takes the heart out of it I know, but sometimes the spreadsheet says YES and you have something to look forward to as well.
Remember, balance is the key, and there are some great cars out there for some great prices if your budget is limited. An E46 330i 3 Series would make a fine, cheaper option to the M235i for example, especially if you find a good one and look after it, there will be very little depreciation.
Andy665 said:
I have a friend who has recently retired at the age of 56, never got married, no children, not been on holiday for years, zero interests other than golf - all so he could stick as much as possible into his pension pot
I have lived a life, similar age, yes putting money into my pension but can't retire for a good while yet. Have a wife, son and been on some great holidays that provide great memories., had some great cars and still do
Do I envy my friend - not really, he is retired but lonely and only has years of work and sacrifice to look back on.
No right or wrong in this but I prefer to live for the here and now - I hope to but I may never even reach retirement age
I don't suppose your friends name is Andrue by any chance? I have lived a life, similar age, yes putting money into my pension but can't retire for a good while yet. Have a wife, son and been on some great holidays that provide great memories., had some great cars and still do
Do I envy my friend - not really, he is retired but lonely and only has years of work and sacrifice to look back on.
No right or wrong in this but I prefer to live for the here and now - I hope to but I may never even reach retirement age
This sounds exactly like another person on another forum I frequent. Exact same circumstances. Whenever pensions get brought up he's always there to brag about his pension pot and how he can retire at 55/56.
Probably a question of mindset.
I know an old guy who has a load of cash stashed..hundreds of thousands, but he only has heating on in one room and collects water in water butts to flush the toilet. For him, obviously that is satisfying, but from my angle it seems unnecessary and extreme.
I have a modest income, a bit of a pension pot, some property assets..then I also 'waste' money on cars. The most I ever paid for a car is £7,500 and that is a classic car, so could be classed as an asset. It would seem extreme to get a second job to fund a car. Plenty of fun cars around for a couple of thou. or so. Running costs and depreciation are big factors in car ownership. If you can find a cheap car, with cheap running costs and very little depreciation, but also fun to drive then that is the way to go. Think Toyota MR2, Maxda Mx5, even some classic saloon cars are cheap to buy and run, as long as you don't need to do big mileage or commuting. I bought an old 1980's Lancia saloon for £2k. It's lovely and a hoot to drive, but 35mpg and simple to maintain..it even has fuel injection lol.
I know an old guy who has a load of cash stashed..hundreds of thousands, but he only has heating on in one room and collects water in water butts to flush the toilet. For him, obviously that is satisfying, but from my angle it seems unnecessary and extreme.
I have a modest income, a bit of a pension pot, some property assets..then I also 'waste' money on cars. The most I ever paid for a car is £7,500 and that is a classic car, so could be classed as an asset. It would seem extreme to get a second job to fund a car. Plenty of fun cars around for a couple of thou. or so. Running costs and depreciation are big factors in car ownership. If you can find a cheap car, with cheap running costs and very little depreciation, but also fun to drive then that is the way to go. Think Toyota MR2, Maxda Mx5, even some classic saloon cars are cheap to buy and run, as long as you don't need to do big mileage or commuting. I bought an old 1980's Lancia saloon for £2k. It's lovely and a hoot to drive, but 35mpg and simple to maintain..it even has fuel injection lol.
Enjoy your life, that's the key thing. I am obsessed by cars and it has always been the number 1 thing in life for me ever since I was a kid.
Hence I worked my arse off (and still do) so I can buy, drive and enjoy what I want. But it's ultimately not about the car as the memories they enable you to create are worth a lot more. I don't want an object and don't care for telling anyone what I own or what I could own.
Use them, to hell with mileage and create memories.
I have kids and make sure I earn enough for them to be happy and get what they want. Whilst still enjoying the cars of course..
Hence I worked my arse off (and still do) so I can buy, drive and enjoy what I want. But it's ultimately not about the car as the memories they enable you to create are worth a lot more. I don't want an object and don't care for telling anyone what I own or what I could own.
Use them, to hell with mileage and create memories.
I have kids and make sure I earn enough for them to be happy and get what they want. Whilst still enjoying the cars of course..
As much as I love driving, I would not buy a car that risked my financial security or whatever the phrase is. No way I'd get a second job just to be able to afford to buy something nicer.
If I was only able to afford to buy and run a £2k car, that's what I'd buy.
Not sure that's the reply you want to read.
If I was only able to afford to buy and run a £2k car, that's what I'd buy.
Not sure that's the reply you want to read.
SidewaysSi said:
But it's ultimately not about the car as the memories they enable you to create are worth a lot more. I don't want an object and don't care for telling anyone what I own or what I could own.
Use them, to hell with mileage and create memories.
Well said. I see those "spiritual" quotes on Facebook all the time. "Buy experiences not things." They haven't thought it through. A thing can give you amazing experiences. Or it can't. That's entirely down to you.Use them, to hell with mileage and create memories.
For many people, life gets easier financially as you get older. Therefore, I see little benefit in putting too much emphasis on saving up now, to be better off later - the same money will bring you more joy now, as it makes more difference.
A pension yes, saving up for a deposit for one house yes, clearing the mortgage or saving up to buy a second house to rent out, not IMO.
In terms of cars I've always been able to find something I'm enthusiastic about within my budget. I have however spent a lot on maintenance; I'm ok with spending money on repairing/upgrading a car I've already started enjoying, because I know the fun I'm getting from it.
Cars have generally been a high priority to me; my default reaction to considering any money I had was 'what car could I get with that?'. So it's pay for the other stuff, then whatever's leftover seems to go on cars :-)
I've alway had a "live for now but with an eye on the future" coupled with a "what's the worst that can happen" approach to life.
If I want it and I can afford it I always buy it ( probably explains why I've had 156 cars ! ) If the sh@t hits the fan I can always sell it
Five years ago I went into hospital to have my tonsil removed, when I was woken from the anaesthetic I was told they couldn't take my tonsil out as I had cancer of the mouth and throat ( I've never smoked , train four times a week, don't drink and have a good diet ) was I ever going to end up in chemotherapy unit ? - Never !
I got paid out £350,000 from my Critical illness policy - did I pay my mortgage off ? No, I bought a Porsche 356, a Golf Rallye, a 911 and three new bikes to cheer myself up !
Life's too short, if you want it buy it !
If I want it and I can afford it I always buy it ( probably explains why I've had 156 cars ! ) If the sh@t hits the fan I can always sell it
Five years ago I went into hospital to have my tonsil removed, when I was woken from the anaesthetic I was told they couldn't take my tonsil out as I had cancer of the mouth and throat ( I've never smoked , train four times a week, don't drink and have a good diet ) was I ever going to end up in chemotherapy unit ? - Never !
I got paid out £350,000 from my Critical illness policy - did I pay my mortgage off ? No, I bought a Porsche 356, a Golf Rallye, a 911 and three new bikes to cheer myself up !
Life's too short, if you want it buy it !
A lot of common sense in the above replies. 'Balance' between financial security and enjoying the fruit of one's labours is the theme here, and each individual's balance is different.
Personally, I've been thrifty all my life but as cars are my thing I've also enjoyed cars in my own thrifty way. I'm with Hoofy in that things i.e. my cars ARE my experiences.
Personally, I've been thrifty all my life but as cars are my thing I've also enjoyed cars in my own thrifty way. I'm with Hoofy in that things i.e. my cars ARE my experiences.
Have owned basic to quite expensive cars and a few motorcycles.
A simple 600cc naked bike has brought me loads more motoring enjoyment that any car ever has. Both in terms of the thrill of performance, being on driver's road/roadtrips and the community element.
The car has always been a tool to get me places, albeit in more comfort and barely any faster as I went to nicer/faster cars. I still go for a drive for the sake of it sometimes, but I just can't enjoy exploring the smaller roads in the same way...
A simple 600cc naked bike has brought me loads more motoring enjoyment that any car ever has. Both in terms of the thrill of performance, being on driver's road/roadtrips and the community element.
The car has always been a tool to get me places, albeit in more comfort and barely any faster as I went to nicer/faster cars. I still go for a drive for the sake of it sometimes, but I just can't enjoy exploring the smaller roads in the same way...
As my means has grown my aspiration has waned. I can find equal joy in a car worth £5k as £50k. My Clio 182 gives me as much pleasure as anything I've owned. The latest GT3 or ///M or whatever excites me not one bit.
My consumerist weakness is having more cars than I can use. Much rather have a fleet of cheap cars than one expensive one.
My consumerist weakness is having more cars than I can use. Much rather have a fleet of cheap cars than one expensive one.
Firstly… This is a really personal question so there is no ‘right’ answer. What you want / makes you happy depends on where you are in life and where your priorities lie.
I have been on the new car / PCP bandwagon for some years, going from (at 17) Free Insurance Saxo / Clio / Mini One / Golf GT TDI / Scirocco 1.4TSI before taking an overseas job. All the cars brought freedom and a degree of happiness. Early on, the payments also were scary from a financial standpoint, I did make a mistake and overcommitted early on. Definitely do not recommend!
The Scirocco may have been a step backwards from the Golf being the twincharged 160 and having a V Power thirst matching George Best, in 2010 where petrol prices were also £1.60 a litre, and delivering 25mpg on my commute.
In 2014 I bought my C class estate which has since become my family car (2 mini monsters later), have really bonded with it and can’t see that I want anything else any time soon. Now in a position that could buy a much more expensive car, but don’t want to part with the family wagon
I have been on the new car / PCP bandwagon for some years, going from (at 17) Free Insurance Saxo / Clio / Mini One / Golf GT TDI / Scirocco 1.4TSI before taking an overseas job. All the cars brought freedom and a degree of happiness. Early on, the payments also were scary from a financial standpoint, I did make a mistake and overcommitted early on. Definitely do not recommend!
The Scirocco may have been a step backwards from the Golf being the twincharged 160 and having a V Power thirst matching George Best, in 2010 where petrol prices were also £1.60 a litre, and delivering 25mpg on my commute.
In 2014 I bought my C class estate which has since become my family car (2 mini monsters later), have really bonded with it and can’t see that I want anything else any time soon. Now in a position that could buy a much more expensive car, but don’t want to part with the family wagon
Gassing Station | The Lounge | Top of Page | What's New | My Stuff