I Hate Wasting Money

This entry isn't about anything current. It definitely fits into the Dull and Random Thoughts category.

I hate wasting money. Don’t mistake me – I don’t mind spending money. But I despise wasting money.

For example: I spend a lot of money on NCSU sports via the Wolfpack Club. I truly enjoy the games and the camaraderie that goes along with inviting people to join me.

Between the yearly required contributions, long term stadium and arena construction (which I obligated myself to help fund by agreeing to ‘Life Time Rights’) and the actual season tickets to football and basketball games – I spend about $3,000 yearly. Because I enjoy college sports so much - to me - this is money well spent.

Money wasted is if someone accepts an invitation to a game – and then cancels – or waits till the last minute to decline an invitation. Especially if there's little time left to invite someone else to take their place. That’s ticket $ spent, not used, and thus wasted. Sure fire way to piss me off and never get an invite again.

I was thinking about wasteful spending last Saturday while at CrossRoads Ford having my car serviced (It needs a new power steering pump).

I have a 2003 SUV (purchased used) and a 2006 Focus (purchased new).

I originally had a 1998 Contour. It started to suffer major engine problems – actually timing belts – 3 times in 6 months. The 3rd time it was in the shop – I angrily on the spur of the moment purchased the used SUV in 2003.

I had always wanted a small SUV for hauling household stuff and possible camping. When I bought it (while the Contour was in the shop) – it was kind of a back up car to get me to and from work since the Contour repairs were taking a week at a time.

Eventually the Contour AC system failed during the late summer of 2005. The estimate to repair was over $2000 – far more than the value of the car. I continued to drive the car through that winter until the weather began to turn warm. Spring 2006 – time for a dependable vehicle with AC. I gave the Contour to a friend who needed it.

That’s when I made a mental error.

I had become accustomed to having 2 vehicles. A commuter car and a weekend truck for chores and stuff. So I blithely went about looking for a Contour replacement. Flirted briefly with the mid-life crisis automobile syndrome. Looked at Mustangs and, gasp!, seriously considered buying that BMW I’ve always wanted.

Fortunately my temporary BMW insanity passed and I bought the practical Focus for commuting. Got the sports package which makes it a ton ‘o fun to drive.

Saturday while waiting at the dealership service department – it suddenly dawned on me: I never needed the Focus!

I simply should have just used the Ford Escape as my multipurpose vehicle. It’s capable of hauling anything I’ve ever needed; it gets decent gas mileage; it seats 4 or 5 comfortably; it’s in great condition and will last a very long time. There was no reason whatsoever to purchase a ‘commuter’ car. I just didn’t think things through!

So – my game plan is this. I’ll only use the SUV when it’s needed – such as hauling stuff around or whatever (i.e. saving SUV mileage for future use). For everything else – I’ll use the Focus.

I usually keep a vehicle for 160,000 to 180,000 miles. At my typical rate of about 20,000 miles per year – the Focus should be at the 160k – 180k mileage in about 7 years or so. With minimal use, the SUV should still have a couple years mileage available on it at that time. Eventually, when the SUV wears out, I’ll just buy a single multiuse all around vehicle.

Basically – I "wasted” the $17,000 I spent on the Focus. I could have left that money invested and earning some sort of return. Plus the yearly second vehicle insurance and taxes is money down the drain.

Like I said - I hate wasting Money. I got pretty miffed at myself while I was thinking this all out. Thank God I didn’t spend 50 grand on a BMW. Had I done that - I would have gotten totally pissed off . . . . Probably would have had to beat myself for being stooopid.

Still – the Focus, in spite of being an ‘econo-car’ – is a blast to drive. Light weight, the 'sports package option' - extra torsion bars, heavier struts / springs, fat 17-inch tires - its FUN! (Nuke jokes and says it’s the spoiler on the back that does it – LOL) It’s the first car I’ve ever had that’s actually ‘sporty’. When I’m driving it on a 2-lane country road out here in the sticks . . . . Watch out!