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!