In this episode we’re coming back to the idea of what our expenses cost us in time, and more specifically, our cars.
What's the difference between a $75,000 car and a $25,000 car? Most of the time, the difference is having to work 3x as long to afford it!
Watch the video above (or listen or read below) for the full lesson so you can take the next step towards creating and maintaining a #4DayWorkWeek
PODCAST VERSION (AUDIO)
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What's the difference between a $75,000 car and a $25,000 car?
You know what the difference is? In a lot of cases the difference is simply 3x as many hours worked to afford it.
If you really love cars, fine: we all have our hobbies. But very often, I find people who aren't really that into cars and they just buy the more expensive car because of its brand name, or because they felt like they should. If you ask them why, they often can’t tell you.
I bought a Honda CRV a few years ago. It kind of made me laugh because it's about a $25,000 vehicle. And I once saw a BMW which looked really similar, and it was almost the exact same color blue, so I went up to that car with my clicker and thought it was my car!
There really wasn't that big of a difference between my $25,000 car and this car which probably cost more like $75,000.
When I was younger, I probably would have noticed the difference more, but now I can’t really tell. So many of the cars look similar, and a lot of the features – the air-bags, the safety features – are similar and come as standard now.
Unless you really need that extra push, is it really worth the extra time it's costing you? For a lot of people, it's just not.
Is Buying a Fancy Car Really Right for You?
Buying a car is a huge amount of money, and yet it’s often one of those decisions that's made kind of semi-consciously. And of course, sometimes there might be either that sense of wanting to fit in, or wanting to enjoy it.
But Tim Ferriss teaches about an idea that he shares in his book The 4-Hour Workweek, which I really love. He talks about how he wanting to drive fancy cars, so rather than buying one he decided to rent a Lamborghini or a Ferrari for a while. He didn’t feel that he had to own it: he just wanted to experience it, but he didn’t need it on a day-to-day basis.
Something that just cracks me up is, where I live, people pretty much always drive safely, which is great. But nothing makes me laugh more than seeing somebody in this really fancy car that can go 200 miles an hour, and they're doing 45 miles an hour because that's the speed limit. We don't live in Germany, there is no Autobahn where you can just go as fast as you like!
Some cars can be really pretty and I can appreciate that, don't get me wrong. But there's so much else you could do with that money. Sure, some people might have plenty of money, so they don’t have to work extra to get a fancy car and that’s great for them! But for a lot more people, it's just working 3x as many hours, and missing out on the opportunity to have more free time.
I encourage you to look at what your costs are on your car. Cars, unlike homes, are usually much easier to trade in or change a rental contract or lease agreement on, and so it’s much easier to correct financial mistakes.
Take a look at what your car’s costing you in time, and to consider what else you could be doing with that time. What would be a better way to spend it than working to afford a slightly nicer car?
The 4-Day Work Week Entrepreneur Academy
As entrepreneurs, we sometimes need to be locked in a room to get something done. In that spirit, we’ve created a workshop called the 4-Day Work Week Entrepreneur Academy, where, in 2 days, we help you put together your Game Plan to create a 4-Day Work Week lifestyle.
You'll be in the room with other entrepreneurs who are networking with each other and creating a support network to implement throughout and after the program. We’ll also be going through the fundamentals of how to best achieve a 4-Day Work Week lifestyle.
We’ll follow this all up with an online program, as well as with weekly calls to help people make sure they are able to implement the content of the program.
If you’re looking to knuckle down and make sure you get some stuff done, and you want to something happen and get closer to a 4-Day Work Week, go to 4dayworkshop.com, where you can learn more about the live event.
I've helped many entrepreneurs with this before, and I look forward to helping you and seeing you at one of our workshops.
As always, I look forward to helping you make more money in less time, doing what you do best.
Envision & Create the Game Plan for you to start working a 4-Day Work Week.
Whether you're an Employee, Entrepreneur, Business Owner or anything else...
It all starts with a VISION and a PLAN.
Learn this simple process for creating the GAME PLAN that can serve as your road map.
The 4-Day Work Week Apprentice
Learn to start moving towards a 4-Day Work Week lifestyle WITHOUT changing jobs.
Whether you are an employee, entrepreneur or business owner, you can make more of the life you currently have.
Learn how to make the most of your RELATIONSHIPS, TIME, MONEY & THINGS.