Page 26 - Workbook3E

Greater availability of technology has increased the number of in-home businesses and multitasking has become the norm of family life. “Great rooms” combine multiple purposes of a family room and kitchen,
and are making our living spaces more social, effective and decreasing construction costs. In-house exercise equipment, saunas, and spas reflect an emphasis on good health. Greenhouses and gardens indicate a back- to-nature attitude and an interest in home-grown food. Our homes and the activities that go on in them are always evolving.
Whatever your house of tomorrow looks like, is located, or costs—it will likely continue as a major factor in shaping your financial fitness and quality of life. If you don’t act responsibly, or are too impulsive in your decisions, it could end up causing stress. The more wisdom and care you use in deciding its design, location, and cost, the more likely you’ll be happy with your decision and enjoy your home.
4 Transportation
How much of your monthly income is spent on transportation? The national average is more than 20 percent—a high price just to get where you need to go! That’s why it’s important to review how much money you spend on transportation. For most Americans the expense is largely due to the purchase and upkeep of their cars.
If your lifestyle doesn’t require you to use a car, you’ve avoided a major expense. There are other forms of transportation that may impact your budget: trains, planes, buses, taxis, and bicycles—but cars are typically the most expensive and have the most bearing and affect on expense and quality of life.
America’s love affair with the automobile originated in the early 1900s, and hasn’t slowed down since. The car is a status symbol and source of identity, rolled into one. There have been trends toward large luxury cars, small fast cars, big sports utility vehicles, and everything in-between. They’ve become a reflection of high-fashion, creating images of power, prestige, beauty, and intelligence.
Need an attitude adjustment? Is that possible without seriously compromising your lifelong enjoyment and perception of cars? First of all, you only need to adjust your attitude if you think a problem exists. After careful consideration and soul searching, if you decide you’ve been putting too much emphasis on your car at the expense of your financial stability—by all means, make an adjustment. You’ll need to reassess your world view of cars and how they fit into your quality of life. Use your intelligence and creativity to help keep you on course toward financial freedom.
“Nothing ages your car as much as the sight
of your neighbor’s new one!”
~ Evan Esar
22 Workbook 3: Prepare for the Future