Spend some save some, with all things in life try to find a balance.

I am with you on the first three. Were they out of Subaru's?

Typically mind set of the average person.


I'm talking to a 14 year old. It's a building wealth stage. Nothing wrong with buying nice things when you can afford them. That means not buying it on credit and robing your future.

once Your investment can pay for the nice things assets are accumulated Then have at it.

Or live like everyone else and hav the same result. It's a choice.

I guess I am "average" then and I am ok with that.

I think the answer lies somewhere in between. Drive the junky truck.... AND buy the nice leather jacket (or rattlesnake cowboy boots) for your night out with the lady. It's not all one or the other...

Financial security is not a number it is a state of mind.

Bryce

In June 2011 I bought a 2001 ford ranger with less than 50,000 miles for $4500.
Its January of 2025 and that truck has 275,000 miles on it and I drove it to work this morning.
I went from 13mpg in my big truck to 26mgp in my little truck.
275,000 miles minus 50,000 miles is 225,000 miles driven in my little truck.
225,000 miles driven at 26mpg equals 8,654 gallons of fuel burned.
In 2011 gas was $3.50 a gallon. Today its $3.80. In 2018 it was $2.75.
So lets say it averaged $3.25 a gallon times 8,654 gallons equals $28,125 in gas.
Had I kept driving my big truck back and forth to work that would have been that times two (13 vs. 26mpg) so $56,250

There can be more savings in driving an old beater car than just the purchase price of the old car.

p.s. - I could easily sell that ranger for $1500 now, so I spent $3,000 to save $30,000 in gas over 14 years, that's $2,143 a year savings in gas.

as far as this being a tax post...
If I had a truck patch garden business or a trapping lure business ON THE SIDE and used my trucks in that business they could both be write offs (assets) which bring down your taxable income which means you pay less taxes.
Then everyone with a truck patch garden needs a utility tractor too, maybe write that off the next year... tiller, front end loader, welder, etc.
Then go figure... your garden business didn't work out the way you expected and you took loses that year... guess what you get to write those off too... which means even less taxable income.

Try to grow more better tomatoes next year... oh the seeds, plants, fertilizer, weed and feed, round up, etc.... which means even less taxable income.
For you people that are about to say yeah but your business can't always lose money...
Ok have your business make a $1000 and pay taxes on $1000 and have a truck, tractor, and manicured lawn.
*if your business doesn't make money you are more likely for an audit. Make sure you keep your receipts for your truck and expenses.
(In January start a gallon freezer zip lock bag of receipts for the year. KEEP ALL RECIEPTS FOR EVERYTHING ALL YEAR and put them in the bag.)

This is not financial advice, I'm just thinking out loud. I wonder if something like that would work but pretty sure thats what they mean when they say "get a good accountant".

p.s.s. - you already pay state and federal tax on cigs.

Why have money? So you can do whatever you want when you want. You can buy whatever you want when you want, lol. Here’s something I’ve learned, when you have money saved, you REALLY think before you buy. Got a buddy that has a $500K home and drives an $85K truck and HAS to work or he’d lose everything. I can miss an entire year or more and not miss a beat. Now which scenario would you choose? Look like you’ve got money or know you’ve got money and enjoy the heck out of life and your “toys”…which are also tax write offs, lol!

Good lookin' sleigh!

I've always chose to allow the maximum to be taken out of my payroll check (and now 12% fed & 7% state) so I have always got a refund. Most years it has been a pretty good one too.

What is this tax thing you guys are talking about???

Maybe it is nice to be poor…….

It's nice to not be in prison for tax evasion.

The couple of time I have been there it was not bad,,,,,
Private room
Weight room
Basketball court
Free cable tv
Fried chicken once a week…….l

Sorry its confusing. I didn't write of my little truck I was suggesting someone could write off a newer one for the business they are about to start. Also I drive 70 miles a day back and forth to work round trip and used to work every weekend and holiday. Yes, a very high % of those miles were at 26mpg. Sams club is by work and I have hauled many of items in the back of that truck from Sams club to all the concession stands around town for the kids, my wife runs that program. You clearly haven't seen the ford ranger skits. They do everything. lol. You are really smart, I'm glad those were the only issues you had with my post. Thanks.

My ford ranger was lucky to get 16 on a trip, 1997 bought new, 4.0 w/ 4wd, ext cab. Maybe on always level ground I could see 18-20 maybe? What was it set up with?

I won't be done until the second week of Feb. when I finally get 1099's from USDA. Even though by law they are required by law to provide by Jan 31st. I guess the government is exempt from government rules. Several times I've filed without receiving them. I always print out deposits when received My tax preparer doesn't like to file without the forms but will since I have it documented.

j one thing you seem to miss is not everyone needs a big truck and a car just won't cut it for those with occasional light halling needs . You know exactly why there is a market for small trucks to begin with. Sometimes things are the best option on price and use for an individual and family.

5 or more vehicles the actual cost has to be used. 4 and under standard mileage can be used - even SUV for farm use

I'm not sure why you are trying to debate with me. I'm not pretending what might happen. I'm reporting what actually happened and if you think hauling some boxes of candy and soft pretzels (what I actually hauled) is the same as hauling a 4600 trailer (what you want to imagine me hauling) I'm not going to get anywhere.

The ranger wasn't really a ranger it was a 01 4 cylinder Mazda B2500 five speed 2 wheel drive with crank windows. Its the same as a ford ranger. Literally the same assembly line even I think.

The big truck is a power stroke 6.7L now and gets 14mpg. I drive that when real things need hauling.

Actually I averaged 24.7mpg.

This is what triggered my audit a few years ago - I had not received my 1099 from a mutual fund sale from a brokerage firm. During the audit - the IRS took the sale as all profit. I had to explain to the auditor about cost basis and the sale was not all profit - they had a hard time understanding that it actually cost something to buy the mutual fund.
And yes, my USDA 1099s are usually the last I receive next to my 1099 INT from bank well after deadlines passed.