Stop staying poor

I recently read an article explaining why poor people stay poor, and was advised by this article that saving money costs money. I then continued to read about how this person lost their truck over a few hundred dollars. When I read further to find out that this person was running between two part time jobs, neither of which paid a hundred bucks a day, I found myself wondering, why in the world did this person think she could afford a truck in the first place?

A motor vehicle is a huge expense for anyone; the cost of the vehicle is just the tip of the iceberg. Add in the cost of gas, insurance, and maintenance, and it soon becomes apparent that owning a vehicle is an expensive luxury. Funny thing is, something like an old worn-out pickup truck might cost more month over month than would a new small car along the lines of a Mitsubishi Mirage. But then this line of logic would play into the whole notion of the cost of saving money, which misses the entire point. The real issue is, what was this person doing with a truck in the first place?

It's often the case that a person would feel insulted that I might suggest they should not own a vehicle; they see vehicle ownership as some sort of right. What has really happened is they've bought into the lifestyle marketing campaigns of the automobile industry that tell us we need to own a car or a truck. In fact, it's quite often the case that we're constantly chasing after different lifestyle dreams that are advertised to us, our lives become a disjointed mess, then suddenly, we believe we need to be chasing after two part time jobs in order to attain our dreams. In reality, the dreams aren't really ours, things are barely holding together and, unsurprisingly, a couple of unforeseen expenses undoes the whole "Rube Goldberg" machine.

What I suggest is that people take a moment to tune out the advertisers and take a holistic look at their life. I recommend starting with understanding the actual cost of owning a car. Some studies put just the cost of owning an average car at nearly $10,000 per year of after-tax dollars. If you believe you need to work at two part time jobs to own a car, the first thing to consider is whether one of those jobs will net you $10,000 after tax in a given year, the second is if owning the car is worth the hassles of that second part time job. To put this into perspective, if you're earning $11/hour, you'll need to put in 22 hours a week EVERY week of the year JUST TO OWN AND OPERATE a car. Even if you got the car for free with a full tank of gas, sooner or later these expenses will need to be paid if you actually expect to continue to drive. I ask you; is the second part time job really worth it just to have the headache of car ownership?

Perhaps it's better to abandon that second part time job, sell the car, and use the extra cash to invest in yourself. Growing numbers of people are living car-free, but it takes a big-picture view of your life. For example, you may need to relocate to a different city or find a different job. If you're in a relationship, it may mean making some short-term compromises. If there are children in the picture, there's all the more reason for you to start taking a holistic approach to life. There is no single easy solution, this is why it's critical for each of us to take a holistic approach to our own unique lifestyles.

I'm not suggesting anyone give up on the dream of owning a car forever; what I'm suggesting is that it will impede progress if one is struggling financially right now. Giving up on the car may allow one to focus on the better of the two part-time jobs, and perhaps that will allow you to develop a career out of it. Or maybe the time gained from leaving the less desirable part time job could be put towards self-improvement. It's all baby steps towards building a life that works. At the end of the day, recognize the car as a tool rather than an entitlement and necessary expense.

It really doesn't cost money to save money. What it takes is recognizing that saving money isn't be be-all and end-all in financial stability, and that taking a holistic approach to life is the solution. The money not spent on keeping that truck means a second part time job may not be necessary, which could mean time better spent at building a lifestyle that suits you and is one you can truly call your own.

Finally, if you find this blog post offensive, then you are looking to find offense in that which is not intended to be offensive, but perhaps feeling offended is the first step to your financial recovery and putting yourself in a position where you no longer consider yourself poor. It really is your life, nobody is in control but you. Make it the best life for you that you can.