My Volvo wagon is 12 years old, has soiled carpets (I’ve got two kids!) and the stitching on the leather seat is coming undone. But, the most irritating thing is the driver’s door which creaks like a train braking as it enters Grand Central Station.
“You’ve got to get a Prius,” my money monster (the irrational voice of fear that surfaces around financial decisions) advises. “It uses less gas, it’s quiet, the door won’t squeak and groan. Plus, you’ll broadcast to the world ‘I care about the planet!’ It will certainly save you money. Besides, isn’t it time for you to get a new car? You deserve it.”
I’ll save money with a Prius? I’ll look good and noble driving a fuel-efficient car? I’ll finally get what I deserve? This is just what my money monster loves to hear.
I can just imagine the feel and smell of a brand new Prius. Now, what color shall I choose: the Blizzard Pearl with the Dark Grey interior or the Barcelona Red with the Misty Grey interior? I’ll save $30 per month on gas!
Then in the early morning calm, before the rest of my family awakens, as I envision my Prius, my dream car, I realize the folly of my logic. I’ll save money with a Prius?
How’s that? I own my Volvo; no car payment. If I buy a Prius, I’ll add about $470 (car payment less the gas savings) to my monthly bills (I’m already feeling stressed over my bills). Well, can I make this Volvo work for me? I call the repair shop; I discover that only $500 will fix both the noisy door and the rear door that won’t open.
I put the Prius brochures in the trash ——er——-recycling. There’s clearly no real savings. And, what of the benefits to the planet? Surely my gas-guzzling Volvo (it uses an extra 10 gallons of gas per month more than the Prius) is kinder to the planet than extracting more metal from the earth to build the Prius and refining oil to build the plastic parts. Not to mention all the fuel burned to build and ship it.
I’ve just saved myself $470 a month! Sure, I may not look as good driving around in my old Volvo, but my sense of well-being and sufficiency and my lack of financial stress, more than compensate for that!
What are you craving in your life? Can you take a moment to evaluate the true costs? Perhaps wait a day or a week before making any emotionally-driven financial decisions and let your money wisdom guide you.
May you be prosperous.
