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Well, so much for the idea of getting a new 2018 Nissan Sentra S. Mrs. elkotronics thinks I'm being materialistic and not spending our money wisely so, oh well, I'm gonna drive our 2011 Kia Soul and be happy with it.
My plan was to just trade in the car and get an economical new one. Then, when I reach age 60, begin drawing my Boeing pension payments monthly while I keep working and save them up for when the house needs something.
She's so angry at me she doesn't even begin to understand my reasoning on the purchase. It really is the smarter thing to do, my plan. Because our Kia Soul has 105,111 miles on it, and cars break down. This car has broke down twice in two years, and each time it breaks down it ends up costing a rental car and the repair cost. It's cost us about $1,500 in the past two years. I say trade it in, get a nice new car with a good Warranty, and not have to worry about repairs for a long time. I'll be working 6 more years so I can make the monthly payments easily. Then, when I retire, the car I want to trade for will have about 80,000 miles on it and not even be near done. We will be able to drive it well into my retirement years.
My plan is as sound as a pound, but my woman is stubborn. And downright mean when she's ticked off. I'm really worn out from the arguing, it would be nice if she would just let me make the decisions regarding transportation. Plus, she listens rabidly to Dave Ramsey, who is himself worth $55 million dollars. He says pay cash for everything. Well, ya know what Dave, I'm not worth $55 million dollars. Not everyone who consents to pay payments on a car is out of their mind. It's not a death sentence.
Elko.....too bad she doesnt listen to Suze Orman On her show she has a segment in which she advises folks often couples, who are wondering "Can I afford it?" She takes all the things you are arguing....applies her own logic and experience and business sense and renders a verdict....sometimes yes and sometimes no
I am glad to hear that you are being flexible and accepting the input from Mrs. elkotronics. It doesnt sound as if you are going to be too "happy" with the Kia Soul......but I am proud of you.
Thoughts of New Cars must be "in the air" My DH saw a new Lexus (https://www.lexus.com/models/NX) that a teammate just purchased; he came home and told me how nice it was. Yesterday he decided to go over to the Lexus dealership to check it out. My reaction was very much like Mrs. Elko's We just finished paying off our Subaru and had decided that we would drive it for at least a year or two......still seems like a good plan to me.(besides IF we were going to buy a new car...I love the Subaru Forester)
You know, Elston, I’m frugal by nature, but as I get older, I feel more and more like we should do what gives us joy whenever we can, in small and large ways.
My heart would go pitty pat for a luxury car, after a whole life of sensible, practical cars, and I bet the Lexus IS very comfortable, compare to the Subaru.
Good afternoon. elston, I would love to have a luxury car too. In the mid '90s I had a '78 Lincoln Continental, 4 door. I just loved that gas guzzling boat! Oh, the luxury! I cried when I had to get rid of it in the 2000s. I don't think I could ever find another car so comfortable again, not even today's luxury ones. It's impossible because of size I think.
elko, I am sorry to hear the missus won't listen to reason. Your points are all very valid, imo. When you guys are broken down out in the desert and have to come up with another 2K to get it out of the shop, maybe she will listen. Wth is she saving your money for? Your kids to spend it on new cars after you guys are dead? For the Hall? Wth are YOU working for? Jmo.
elko, I have to agree with tami and gentlearts (sorry Mrs. elko)
We have always been very frugal, and saved, saved, saved. It served us well, and we were able to retire early and lead a comfortable but not luxurious lifestyle.
However...I do regret not splurging a little more back when I was younger and might have enjoyed some things more. Anyway, life is too short not to reward ourselves with a few "wants" as opposed to only allowing ourselves to spend money an "needs" (and savings).
I hope you are able to convince the missus to let go of the purse strings and agree to try to enjoy the rewards of your hard work and careful financial planning
I'm going to side with the Mrs.. The potential for inflation is large and retirement savings can go quickly, especially if there are a couple of hiccoughs along the way. You can be smart and wise, but one disease, one accident, one disaster can put it all out the window. There always needs to be at least a plan B, and I usually have a plan C and D on major things.
I'm going to let you in on a secret, in over 33 years of being together, my wife and I NEVER once argued about money, even though we discussed it and made decisions. That wasn't by chance, there were three pools of money - agreed upon joint expenses and a buffer, which always came first. Then there was her discretionary money and my discretionary money. Those funds could be spent however we wanted, wasted, donated, tossed in the street with no chastising.
100K may be a lot of miles on a Kia, but my old chevy van has over 255K on it. It fits my needs and was bought used. I budget about $1K per year in repairs and if that ever doubles to $2K I'll consider another used vehicle. The value drop off a showroom floor is to much for me to consider.
In a situation similar to yours, were she alive, there would be an allotted transportation cost amount in the joint expense pool, and if I wanted a different vehicle that amount wouldn't change and I would make up the rest from my personal pool.
As for financing, I financed the van through my credit cards with zero interest. I walked out of the dealer door fully owning it, because the CC is a non-secured loan. I earned a couple percentage points in rebates on one card and then flipped the loan amount immediately to a zero interest card. Instead of paying 10% on a loan and having to be concerned about repossession or the loan being sold, I earned 2% and upped my credit score.
Harry......you sound as if you have it all figured out. Good for you. I don't understand anything about finances, interest, etc.
My point had nothing to do with what they could or couldn't afford.....it had to do with whether or not the breadwinner in the family gets to make all the decisions because they earn the money. In my opinion, that devalues the unpaid work of the other partner and makes them a second class member of the family. But I understand that families have different expectations and role definition.
My DH and I have never had an argument over finances either, or anything else I can think of. We don't always agree....but have always been able to resolve issues.....by figuring out who feels the most strongly about an issue and the reason why it means so much to them. Moving to Florida is an example.....it would not have been my choice.....to compromise, he suggested some modified "snowbird" solutions.....but with aging dogs who don't travel well.....that sounded like a nightmare: (also for these two aging gentlemen--the thought of twice a year driving from Maine to southern Florida was not really an attractive or long term option. )
So we moved to Florida.....it is perfect for him (tennis) and truly that makes it more than ok for me. I also don't think I could have taken the cold weather much longer in Maine.
Harry......you sound as if you have it all figured out. Good for you. I don't understand anything about finances, interest, etc.
My point had nothing to do with what they could or couldn't afford.....it had to do with whether or not the breadwinner in the family gets to make all the decisions because they earn the money. In my opinion, that devalues the unpaid work of the other partner and makes them a second class member of the family. But I understand that families have different expectations and role definition.
My DH and I have never had an argument over finances either, or anything else I can think of. We don't always agree....but have always been able to resolve issues.....by figuring out who feels the most strongly about an issue and the reason why it means so much to them. Moving to Florida is an example.....it would not have been my choice.....to compromise, he suggested some modified "snowbird" solutions.....but with aging dogs who don't travel well.....that sounded like a nightmare: (also for these two aging gentlemen--the thought of twice a year driving from Maine to southern Florida was not really an attractive or long term option. )
So we moved to Florida.....it is perfect for him (tennis) and truly that makes it more than ok for me. I also don't think I could have taken the cold weather much longer in Maine.
A lot of breadwinners found out in divorce court that an unpaid partner has value. A garment that has no wiggle room is a straight-jacket. Finances that have no wiggle room are just another type, and every adult benefits from at least a little wiggle room after true basic needs are met - not talking cable tv, Starbucks, or toys, but mortgage, utilities, required insurance, taxes, etc. Even if the breadwinner has to "gift" into the non-breadwinner account, that gift is a payment for support that makes the higher paying job possible.
I'm not against nice cars or comfortable rides, but newness wears off fast. Buyer's remorse on a TV is one thing, on a home or vehicle another. I can see that compromise might be possible in this situation. 100K miles is a point where auto expenses can increase, while that vehicle still has value on a secondary market. A "new" car that is two or three years old or even older in some cases, fully checked out including vin check and mechanic inspection, can have a far less negative impact on transportation costs and cash flow, while still upgrading comfort and reliability.
Another common occurrence with a new car is that it will get shopping cart dings, or be involved in an accident. The first is partly heightened awareness of every scratch, the second because it takes time to "learn" a car and its capabilities and failures. I steered out of a multi-car wreck a few years back only because I knew EXACTLY the width of the van in my head and how it would handle. That made me happier than any new car would.
As you say though, every couple handles finances differently.
Good Morning everyone. I am hoping that the water begins to recede in SC today and that the contamination from the hog manure lagoons and the coal ash can be contained.
So happy to see everyone carrying on here! Good reading!
I have not had a good weekend--spent Saturdau night in the ER at the hospital. Had horrible pains in my tummy and while they were taking tests we came up with some pretty scary things. They found a nodule on my lungs and liver. We don't know if they are cancer or not so today instead of going to work I have to make appointments with some specialists so we can find out what is going on and what can be done if anything. My poor daughter is a a wreck..called me at 4am this morning crying. She is planning on coming out to be with me as we see what is going on. She is bringing my grand daughter and they will probably stay at my sons house since her father is there and he will babysit while she takes me to doctors. Just pray all is well and we find out soon! I can use all those prayers I can get! Thank you in advance!
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We just finished paying off our Subaru and had decided that we would drive it for at least a year or two......still seems like a good plan to me.(besides IF we were going to buy a new car...I love the Subaru Forester)
I don't think I could ever find another car so comfortable again, not even today's luxury ones. It's impossible because of size I think.
Jmo.
