Have you got one off purchase in a shed somewhere which goes unused?
What’s the reason for not using them?
You don’t have the time?
Or you do not have the inclination anymore?
Situations like this remind me that some objects that we own, somehow start to own us. This is normally the same for everyone.
Which is not good.
We seem to organize and manage our lives around our things. You plan to go to new and exciting places.
You will buy a new car to be able to do this. However, you will spend most of your time too busy working so that you can go there.
Another example would be, you are working hard to pay off your fishing boat. Whilst you are putting in the over time, you look out the window and you see someone happily enjoying themselves fishing.
Sometimes it’s best to just enjoy the now rather than the future.
Stop the vicious cycle.
Here are three easy steps to help you stop.
- Know what you really value.
- Never use debt, always use cash.
- Learn how to evaluate the benefits and costs of new purchases.
The cycle has never been about the desires whether they are right or wrong. It has always been about truly seeing the value of what you own.
It’s always worth thinking over what you have recently purchased. Have you used them recently, or used them enough?
If you still had that money, what could you do with it? It always helps to be self-aware and honest.
Paying cash is always best. You may pay the same price but using a credit card will see you stamped with interest. By paying with cash, you have to save up and wait for the best of things.
If you can wait for the little things, then you definitely want it. The false illusion the richer a life gives.
Is that credit cards can provide that lifestyle. However, reality is escaping the cards extensive debt.
You should always try to understand costs and benefits as it will always create a sense of ownership. A friend once bought a jet ski, he worked out how much it cost him $300 for every hour he used.
$300 per hour including loan interest, insurance, gas and repairs etc.
At the time he purchased the jet ski, he thought spending $100 a day to rent a jet ski was expensive.
Turns out, it was more expensive to buy.
A tip for the future, always consider the real cost of everything. Or make a completely honest decision that $300 for an hour is worth it.
Whenever you purchase something new, it needs to benefit your life for the better.
If your life isn’t improved by your new purchase.
You need to start reevaluating their purpose in our life.
Your things shouldn’t own you.
Changing your approach is the best thing that could happen.