Capital Budget Freeze!

26 08 2009
No more new toys for a while...=-(

No more new toys for a while...=-(

I spend a lot of the money I make on bikes/boards and travel.  The three main reasons I can afford to do so are:

  • no debt
  • no family to support
  • bikes/boards & travel pretty much sums up all my interests!

I don’t have a mortgage.  I don’t have a car payment.  So I pretty much pay my rent, cellphone bill and internet service each month and the rest of my income is disposable.  I have no complaints.  I’d much rather be bike touring or kiteboarding in Baja for a month in Dec than own a big house or a big screen TV.  Ultimately money is the freedom to make choices and I’m happy with mine.  I do get teased by people [incl. my GF!] about my lack of furniture, my fleet of bikes and how much time I spend traveling to do sports. That’s cool…I know it’s a bit weird in our society to not own a TV or a sofa or have a family – yet be surrounded by thousands of $$ in sports equipment.

Well my plan for financial freedom took a small detour this week when I decided it was time to replace my 1997 Mazda pick up truck.  I’ve enjoyed many years of trouble free service from my little truck and many years of low cost operation as I paid it off a long time ago.  However, its age is showing and while I have a well paying job I figured I should get a new vehicle and pay it off as fast as possible.  So I’ll be the proud owner of a new Ford F-150 in a couple months [they are building the truck to my specs].

The downside is that I need to focus my disposable income on the task of paying off the truck as fast as possible.  I’ve committed to doing so in 36 months, but ideally I’d like to be done in 24 months.  That means no new bikes or boards and definitely no chance of taking up any new sports.  I still intend on traveling as I think that’s vital for my mental and physical health, but I’ll just have to make sure I do so as economically as possible.

I must say I am excited to drive a new truck that doesn’t rattle and shake as it rolls down the highway – not to mention being able to go uphill at speeds faster than 80kph will be cool!


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17 responses

26 08 2009
Zyzzyx

Ah, a different source of fun! Though I would’ve suggested going the used route and getting a truck 2-3 years old. Let the initial owner pay the price on depreciation, and you get a vehicle that’s still in great shape. Though ya gotta look around and shop carefully though. Still, if you’re planning on keeping the new truck for a long time (and sounds like ya will), good for you on choosing to pay it off ASAP.

Aside from the travel side, I do feel a similar situation as you. No family, little debt (still paying off some student loans), and a few good interests. Though those interests, like yours, get a bit expensive (Quest velomobile? check…) I’m even housesitting for my parents for awhile, so ‘rent’ costs are whatever it takes to keep the house going. For me this all means that the loans are being paid off quick, and then I’ll be putting a very large percentage to long-term savings.

26 08 2009
thelazyrando

I looked at used trucks, but Ford is offering $9-12K off new trucks which offsets any savings from a 2-3yr old truck and I can order one to my exact specs – which don’t seem to match what the dealers have in their yards!

26 08 2009
Zyzzyx

Nicely done then. Look forward to seeing what goodies you’ve spec’d on it.

26 08 2009
Andrew

you must be getting a camper for the bed ??
gotta be able to pull into a trailhead, ski resort, kite launch etc and sleep right?

26 08 2009
Perry L

I think its great that someone gets to live the life most of us dream of.

I’m getting to a point in life where I can afford to have both – but my body isn’t as willing as I expected it to be.

Stay young!

26 08 2009
thelazyrando

Andrew – I don’t like those camper shells as they are heavy and not fun to drive with when you are not using them. I’ll just be getting a normal cap put on the truck so I can securely store gear in the back. With a 6.5′ bed I’ll be able to sleep in there if I want to. I’m also thinking of getting a trailer that I’ll be able to tow for longer trips with my GF.

Ian – I got the offroad package, 6.5′ bed, side and tailgate access steps, leather interior and a high end sony stereo. The rest of the truck is stock

26 08 2009
Zyzzyx

Ah, a cap to secure stuff, good idea. Otherwise I might have suggested what a friend in Portland has, a truck bed tent. Fitted exactly to the bed of the truck, sets up like a tent; with the tailgate down, even a bit more space, and tall enough to stand up in.

26 08 2009
mtb

I have to say getting a new truck is a lot of fun. It is new, tight and fun to drive. However make time for the things you enjoy in life or you will go crazy.

26 08 2009
ToddBS

Make sure you get fenders for it. And a dyno hub! ;)

I had a 1995 Ford Ranger (basically the same as the Mazda) that I bought new in 1995 and drove until 2007. I actually still own it, but it isn’t operational at the moment. I now have a 2007 Mazda 3 hatchback (we went opposite directions with our brands) and like it quite a bit. I was a little apprehensive about going back to a car but after I got used to being so near the ground it is enjoyable. I keep my back seats down most of the time. I find I can fit a bike in the back as long as it’s not all loaded up with panniers and whatnot.

27 08 2009
Tamia Nelson

Here’s what you need, Vic:

http://www.fjcruiserforums.com/forums/889353-post176.html

Modify it for the truck camper, and you travel with your home on your back, like a turtle, but faster.

What kind of gas mileage can you expect of the F-150?

27 08 2009
thelazyrando

Fuel mileage on the highway is 11.2L/100kms or 28mpg. That’s about the same as my existing truck. I do little to no city driving as I ride my bikes in town.

Cool camper tent….I’ll look at that more closely!

27 08 2009
ToddBS

That’s excellent mileage for a truck, especially a full-size. I think my Mazda 3 is only getting about 30-32mpg on the highway. I had no idea they’d made them so much more efficient. Now I’m kicking myself for going with the car.

27 08 2009
thelazyrando

Ya the F-150 has a computer controlled engine management system aimed at fuel economy. I was impressed as well. With a 136L tank I should get over 1000km range on the highway – double what my Mazda gets now on its smaller 70L tank. That will be nice in remote areas with fewer services.

27 08 2009
thelazyrando

Oh sorry I made an error 28mpg is the 4×2 fuel economy….25mpg is the 4×4 fuel economy…the 11.2L is correct though.

27 08 2009
ToddBS

That’s still excellent. I doubt you’ll be going 4×4 for long distances anyway, except in the snow.

1 09 2009
ondre

Vik, my dad just got one of the new crew cab F-150s and it’s really nice. Big v8 and 4wd and it still gets about 20 mpg city and highway. Nice roomy cab also. Hope you like it as much as he does.

26 10 2009
Thanks – The Easy Rider! « The Lazy Randonneur

[...] I know that I said earlier no significant capital purchases until the truck is paid off, but I decided that getting 2 months on a beach in Baja was in itself priceless and having the opportunity to SUP literally everyday made this a smart choice.  If I can come back to Canada with some serious SUP skills that will make it all worthwhile. [...]

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