Motorcycle Parts

Thanks for the feedback. Over the course of the financing the interest charge will be $1,300 if I make all the minimum payments on the motorcycle. But then again, I’ll pay it off early so it won’t cost me that much.

This past weekend was a great example of how the bike pays me back many times over. We rode from Raleigh, NC to Myrtle Beach, SC with another couple, spent a fun couple of days at the beach and then had a super ride back, this time stopping in Wilmington, NC for breakfast along the Tar River.

All weekend long I spent $20 for gas since the motorcycle gets some pretty good mileage.

I can justify my purchase nine ways to Sunday but at the end of the day the end goal in life is not to spend no money, but to spend money wisely. It is a fine point that is often lost by many.

Steve

P.S. The only money I regret spending this weekend was to go see the movie “The Informant”. Barely a renter.

Debt is debt. There is not good debt or bad debt. It is all an obligation that needs to be repaid with future labor. While the payoff for an investment can be rationalized as returning some value and that makes it beneficial debt, there is also a tremendous life return for me when I ride my motorcycle. A return that is higher that any one might expect anywhere else.

Again, managing debt is about balance. Too much student loan debt, investment property debt, or solar panel debt can bury someone just as fast and as deep as a motorcycle loan, and other “toys”.

My belief is not that you need to go bankrupt to get new toys. These are two different situations. If bankruptcy is necessary it is because the person is in a bad spot with few, if any, other legal options. But the message is that if bankruptcy is the appropriate solution at the time, it is not the end of your life.

I’ve yet to meet people over my years of helping others that file bankruptcy simply as escaping debt to get new toys.

Steve

Just stumbling on your site I am speaking from an outsiders point of view. I just believe there is good debt and bad debt. Solar panel debt that can be paid for out of energy savings is good debt. Income property debt that generates a positive cash flow is good debt. A loan for a Motorcycle is bad debt. Now investing in something that generates enough positive cash flow which can be used to pay for the motorcycle loan, that is wisdom and a much more beneficial way to approach debt.

You may teach that principle but as I said before, I just stumbled on this one blog post. Just reading that one post made me think of one who says, hey go bankrupt, don’t worry about it you can still get your toys.

Keep on helping others, we are in a nation that is being destroyed by debt.
.-= Bob´s last blog ..A blog post by Bob Wagner was featured =-.

One thing I’ve learned from getting back into riding again is that many of the folks I meet have shown me that you are never too old to ride.

I’ll ride with you any day of the week.

Steve

Life is about more than being debt free. It is also about enjoying it while you can. For me, I’d rather explore those things I love to do and embrace a larger life even if there is a reasonable cost for those adventures.

As with most things, it is about balance.

I happen to have no car payment and a tiny mortgage so the bike payment is not that unreasonable.

I already know that at the end of my life I will probably have less in investments than some, but a whole lot more than others. I intentionally elect to make those deeply calculated decisions to spend surgically so that for me, my life, is about joy and experiences rather than some that think that simply being debt free is the end game.

Being truly debt free is a fallacy. I wrote about that not all that long ago. Click here.

Thanks for your comment.

Steve