Hello Steemians,
Few days ago on a weekend I met one of my friend, also my colleague. As we were working on a project together. I was thinking to finish the work till weekend, so we can have some buffer time incase our client comes with something out of the blue. I guess we all have faced that unexpected last minute rush. :)
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After a while, our conversation shifted from professional to personal and endup on financial level. I am glad that we had that conversation on that day. I have posted a summerized version of it below. It was started like this..
Me: I am available on this weekend and I was thinking to finish the job we are having now. How about your weekend plan?
He: I am going to visit my hometown to meet my parents and I will come back by Monday. So is that ok if I finish it till Tuesday?
Me: Fair enough. As we don't have any rush for now. So how far is your hometown ?
He: Around 125 miles.
Me: Ohk and how you are going there ? By train or bus ?
He: No, I will go in my car.
(I was little bit curious because I never saw him with his car, as I only saw him on his bike.)
Me: I thought you only have a bike.
He: No, I have a car but I don't use it more. I only take it from the garage when I have to visit my hometown.
Me: So why don't you use it regularly?
He: I prefer bike to avoid traffic and to reach quickly wherever I want too.
Me: Ok then why you bought the car? Is it just to visit your hometown?
He: Yes, there is no other public transport available to reach there.
Me: So you bought your car on loan or what?
He: Of-course on loan. That's what 90% people do. I couldn't empty my pocket.
Me: And how often do you visit your hometown?
He: Once or twice in a month.
Me: So if you're using your car only to visit your hometown then why don't you use a cab instead for this monthly visit ?
He: It will be costly.
Me: How?
He: Because I know.
Me: Ok, let's do some math.
He: I don't like math, neither in my school nor now.
(somehow I convinced him to do the math and we calculated his car loan emi, maintenance, fuel and other costs)
Me: I guess if you use cab instead then it will cost you less then half of what you are paying right now by owning a car.
He: (shocked after the math we did) I haven't calculated in depth like this. I thought it will be a good choice to buy it.
Me: So now you know that, you made a mistake.
He: (sadly) Yeah, I get it now.
Me: Are you planning to use your car regularly now ?
He: I wish I could, but it will cost me double time in traveling in peak hours. So I am not preferring that and I don't go out that much in car, so it rest in my garage.
Me: How about to sell your car and use that money to payoff your loan and remaining you can use it for your other expenses? (by the way he has 6 credit cards)
He: What? Are you kidding me? Now I can't sell it. How bad it will look? and what do I say to my family and friends?
Me: I don't think their feelings will changed about you. As they are not coming to pay for your loan. Only you have to bare it. Instead they will be happy to see that you made a wise decision and taking care about your finances.
He: Do you know it's very hard to think about selling the thing which you own? Why didn't you said all this earlier? (frustrated voice)
Me: I didn't know you are going to do something like this. And you said you don't like math so it's quite obvious you haven't done the math this time too. :)
He: Anyways I will think about it. I have to come out of my debts so I have to figure out something.
That conversation was ended with a sad look on his face when he heard the bitter truth. Truth feels awful at first time but it's more beneficial in a long run. He is still in dilemma that should he sell his car or not ? Just because he is more concerned about his social status rather then his financial security. Emotional decisions can break your rhythms, better we don't let it drive us crazy so think it wisely.
Another weekend is coming, I wonder how he is going to visit his parents this time ?
See you around pal.
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