Okay so maybe I won’t be buying a new Civic Type R anytime soon. Not because I can’t at any moment, but rather it doesn’t seem the prudent thing to do. Everybody’s trying to cut cost these days, right? Look at all the layoffs from tech companies. They’re still very profitable, but are battening down the hatches for the proverbial raining day that can’t seem to arrive. It’s never wrong to save a bit of money, though on a company level I do feel for the folks out of jobs. It’s horrible to get laid off.
On a personal level, keeping cash in the bank - instead of buying a second “toy” car when I already don’t drive my primary car much - is the strategy right now. Interest rates have never been this high for people of our cohort. I think the rates were higher back when we were in high school, but come on, as if we had money to stuff in the bank during those days. A high yield savings account is giving nearly 4% in risk-free returns. It is time to reap, rather than spend. Let compounding do some work.
And honestly, buying and managing another car would just add additional stress. Instead of moving one car for street cleaning, I would have to move two. Maintenance is times two. Worrying about some jackass messing with the cars whilst parked is also doubled. Is that what I really want? Never mind the financial hole I would dig myself into for yet another car. All of it go against my living ethos of keeping things as simple as possible.
I can afford to (or is it can’t afford not to) be patient and wait. Now is not the time to dump a lot of cash on a thing I absolutely do not need.
Michael?