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Financial Jiu Jitsu will teach you how to gain leverage in the real world, step by step, until you are confident you no longer need more.

Want to treat yourself? Here's a guilt-free Financial method for doing so

Want to treat yourself? Here's a guilt-free Financial method for doing so

Original post can be found here on Finance Superhero's site. He's a cool guy and wrote this article for us here on how to set better financial goals. Without further adieu:

So a few months ago I'm browsing craigslist looking at classic cars. Or junk cars if you prefer. In California we have a smog system which only allows cars of pre-1975 vintage to be exempt. Reading between the lines here; that means that if you like hot-rodding engines or working on anything that you ever want to be fast, it has to be pre-1975. Hence my search criterion. The 200$ minimum eliminates the dealers and people who list their 12,000$ cars for 12$. There should be a law against that type of abusive false advertising but I digress..

My typical search when bored

My typical search when bored

Long story short I find some killer deals, like I always do. And again like I always do I ask myself the question:

"Do I really need another hot rod project?"

Of course I do! But last time I checked, remember this was from a few months ago, I still had a 1973 Lincoln Continental Mark IV with a 460 in the driveway. Having another vehicle whose function is even slightly similar to the weekend cruiser/ engine build project in my driveway would be unnecessary end even cumbersome. The amount of time and effort it takes to keep a classic vehicle ready to enjoy and drive is not trivial. So doubling that effort even if one of them is near "complete" at that moment would have been absurd. And then there is this quote from Jonny Depp which is relevant:

Depp on cars and women

Of course we car guys know that we are capable of so much love when it comes to cars. We could leave one in the woods to turn into a rust bucket after 20 years and if someone asked us if we loved that car, we would say yes. We will also say we love cars that we see passing in the street or cars that we only just met. Ah the heart is a fickle thing but I digress...

The solution to this dilemma is of course coming to terms with your inner desires and understanding yourself in a deeper fashion and blah blah blah whatever leave this site and try to find some more click bait

Here I will stop and say that at Financial Jiu Jitsu (FJJ) we have promised to give you insightful ways on how to actually handle your affairs, and we will not always spout trite garbage in your direction. This isn't Facebook or twitter where everybody has advice, and it is rarely unique or even slightly insightful. So let me mansplain this for you in a conclusive fashion:

  1. You want something cool

  2. You already have something cool

  3. what do you do? Go to our site and do some soul searching.

Conclusion: If you want to avoid guilt, get on with your life, and buy something totally savage all at the same time, all you have to do is sell something first. 

In this instance I Immediately posted the following ad:

460 Lincoln Mark IV Craigslist ad

And within a month it was sold. The article is here and it was not a very profitable flip but it was a very educational build for me.

Now - you know what the kicker is? I still haven't bought another car and that sale happened about a month ago. In my 20's I would have not had the patience to even wait until this car was sold to buy another and get started all over again. And in the interim my driveway would have been clogged, I would have been fixing 2 cars at the same time (inevitably with the classics,) and I would of course have been tempted to lower the price of the car I had for sale to attract more buyers. In fact I remember having to do those things back in the day, and none of them were enjoyable to me. In this case I avoided all of those problems and more by following some simple advice:

If you want something, sell something first.

DDave
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