Do Money Vices Have A Grip on You?

By glblguy

ViceThe new BMW 1-series was recently announced and it is gorgeous. I have wanted (not needed) a BMW since I was a teenager. The 3-series, and specifically the M3, has always been my favorite. Any 3-series is still way out of my league price wise and even more so now that I’ve decided to only pay cash for my cars going forward. Now BMW introduces the 1-series, ranging from a $26,000 – $31,000 or so, relatively cheap by BMW standards. If we really cut back I could afford one. Maybe finance it for 7 years, the payment wouldn’t be too bad at all, maybe I could even lease one…

No, I haven’t completely lost it, nor is GLBL going to become a blog on the 1-series BMW all of the sudden. I’m not going to buy a new BMW 135, but I sure would love to. I would be lying though if I told you all of the thoughts above haven’t crossed my mind in the past few days. These same thoughts have also caused me to do a little self interspection and think about what it is about cars in general I like so much.

I think it really boils down to a vice. No, not the kind of vice that you hold a piece of wood or metal in, a mental vice:

From Wikipedia: vice can refer to a fault, a defect, an infirmity, or merely a bad habit.

I don’t really have many vices, but unfortunately I have one that is rather expensive and to top it off one that leans strongly towards quickly depreciating assets (i.e. cars). I’ve liked cars as far back as I can remember. My obsession with cars is most likely all my Dad’s fault, as I think it’s inherited (Sorry Dad, but it’s true! – Yes he reads this blog)

Other than cars my other vices are fairly minor. I like gadgets and books. That’s about it really. Of course gadgets can be expensive, but fortunately as I aged a bit, the appeal of these is tapering a little. I don’t smoke, I don’t drink , I’m not a big shopper, and I’d rather eat at home than out (my wife is a great cook).

Anyway, I’m far too disciplined in my finances and self management now to make a stupid financial decision like going out and buying a new 1-series. But that inner “live for today” voice along with genetic car vice like to gang up on me far too frequently. It’s a constant battle to fight them off, especially when I feel like everyone around me is driving a new car, and here I am cruising around in a 120,000 mile 2001 Nissan Sentra. I mean, what might they think about me?

Did I mention the 135 has a dual turbo charged inline 6 and is estimated to go 0-60 in 5.2 seconds?? Maybe I can be patient and pay cash for a used one in 10-15 years…hmmmmm.

What financial vices do you struggle with? What vice rears it’s ugly head in your life far too frequently? Post a comment!

3 Responses (including trackbacks) to “Do Money Vices Have A Grip on You?”

  1. Jaushwa Says:

    I have the same obssession with BMW’s. I currently own a 95′ 530i and is a ball to drive although it’s almost 13 years old.

    I’m also considering leasing a newer one, but not brand new. I don’t mind spending the money because this is what I really like, and that’s what money’s for, to buy things that are important and you will enjoy. Although the car will take up pretty much all my extra money, I’m ok with it.

    also keep in mind, Jesus wants the best for you. You are his child. Don’t you think God would love to bless you with a 1-series.

  2. glblguy Says:

    Jaushwa – I’ll get one one day, but right now I have better uses for the money since I have 6 kids. I wouldn’t buy a new one anyway, nor would I ever lease a car. Really do the math on a lease, it makes no financial sense at all. Here’s an article from another personal finance blog I really respect with his perspective on leases

    Jesus does want what is best for us, but that doesn’t involve material items. Remember, he tells us not to store our treasures here on earth.

    I hope you get the BMW you want, but don’t spend all of your disposable income to get it and really pray about and decide if it is the decision God would have you make.

    Thanks for visiting and for taking the time to comment!