Trade The Journey

Trade The Journey

Weekly Progress

Greetings! I hope everyone is enjoying the NFL Playoffs, I know that I am. The LA Rams made it to the conference championships, which made me a happy fan. Considering the Rams have holes in their defense and they choked last year, I was a bit uneasy throughout the game.

This last week started off a bit rough. There were some surprises throughout the week but they were manageable. I did splurge this week, eating out and purchasing more sushi then my budget allowed for. Last week ended in a surplus and I was quite sure that this week would end the same way.

Driving home, I saw some flagging attached to the rear bumper of my car that quickly blew away so I paid the incident no mind. However, when I checked my car the next morning there was a nail in the tire. After noticing the nail, I headed to two different tire shops and both told me that the tire would need to be replaced. They also found a second nail in the same tire.

What could I do?

There were a couple of options that I could consider:

  • Buy a cheap tire to replace the damaged rear tire. $100
  • Buy 2 cheap tires to replace the rear tires. $200
  • Buy the quality brand tire for the rear. $200
  • Buy 2 of the quality brand tires for the rear. $400

Each deal came with a warranty. The car is relatively new with very low mileage and the tires were also relatively new. Although the best option would be to change the back two tires at the same time, I chose to replace the rear right tire only.

Total Cost: $200

Before this surprise cost would have been a major cause of stress for this week and beyond. I would have had to use my credit card to purchase the tire on any of the options listed above.

Due to my savings and spending plan, I was able to comfortably pay for the rear tire and then proceed to overspend on sushi for the weekend. Sometimes, I wonder if striving to limit my purchases has any effect on my long-term financial plan.

I can honestly say that saving and budgeting in the short-term has been quite helpful. Unfortunately, denying yourself an immediate pleasure for a long-term gain is sometimes difficult. I wish I could say that I succeed every day and at every moment in spending money with a long-term goal in mind but I don’t.

What did I learn?

It is impossible to predict what will happen next but we can do our best to be prepared. Luckily this time I was prepared for the small emergency by understanding that an opportunity and emergency could arise at any time. There will always be something new or exciting for me to buy and I fully acknowledge that I won’t be able to resist the temptation every time. But If I am able to succeed most of the time in denying myself that immediate pleasure, I’ll be in good financial shape for the long-term.

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