Summer Time! I love this time of year. This is a big time of year when many purchases are made more on the EMOTIONAL side of things, because the sun is out, you might be going and doing things you haven’t done for a while or a new thing you haven’t tried before, so you come home and with that fresh excitement and energy you start searching online for that new RV, vehicle, bike, surf board, boat, etc.
Now, I’m not saying we shouldn’t do that, but realize that if this is something you haven’t done for a while or have never done before and now you are going full steam ahead into it then this will require a lifestyle shift/change to make room in your life for this new hobby, experience. If you want to hear the honest answer to this….if you hadn’t made time before, it’s very unlikely you will now and you will have that new purchase sitting in your garage or house that will sit for a while then a little later you will put it up for sale and take a loss on it.
I’m not saying you shouldn’t do it, but maybe a few suggestions:
1. Rent it…a few times…see if you like it as much a few weeks later and then if you show yourself that it really will become a new part of your extra time then think about a purchase.
2. If you are going to buy it, wait until the slow time of year, it will be cheaper. I know it’s not as exciting, but you will find it cheaper and even spend more time finding out that the particular model that works best for you is something different than you originally thought it would be.
3. Most of these things are done with friends. Not always, I realize, but most of the time. Analyze the interest of your buddies and see if their interest decreases. Will this affect how much you will enjoy your new purchase? Are you a kind of person who does things alone or generally with a group?
4. If you spend enough money on a big purchase, are you ready to spend most of your time doing this hobby with your free time or are you one that likes to do a variety of things?
I’m certainly not trying to be a spoil-sport on new and exciting things. I write this, because I have had personal experience in all of these areas. I love summer time and the excitement of new things. It’s fun to buy something new! It just is. I don’t suggest that we shouldn’t have fun or buy new things, just that we think through the purchases and give a “waiting period” to make sure this is really what we want to do, especially if I am going to be making payments on it every month for years. Will it be worth it to me to make those payments throughout the year(s)?