What energy blocks do you have when it comes to spending money, especially on a high-priced item like a new car? For instance, have you ever wondered why some people buy the same car year-in and year-out? Have you wondered why some people are able to have nice cars while others drive around old beaters?
Ultimately, the car you get is also reflective of your financial situation and relationship with money. Now, I’m not advocating everyone go get themselves a Bentley. What I am saying is we all have money energy blocks and are not even aware we have them.
Before we get too far ahead of ourselves, here are some of money’s purposes:
- It is your faithful servant.
- It enables you to live life comfortably.
- It extends the good you are able to do in this world, beyond your physical presence. It’s a force-multiplier.
- It shortens the time you can do that good in.
Do you drive a luxury car? If not, have you even considered one during your car-shopping expedition? I thought I wanted a luxury car but my internal feelings said otherwise. The way they held me back was subtle.
I would walk into a luxury car dealership such as Lexus, Audi, BMW, or Mercedes, look around for the next twenty minutes, and not a single sales person would walk up to me during this time to see if I needed any help. By comparison, I would be helped almost right away at Toyota or Mazda.
I thought, “What a bunch of snobs! I’m just going to buy a Honda and call it a day!”
What was going on? I thought it was just bad service, but my friends mentioned they would be helped as soon as they walked through the door. I noticed things changed for me when I finally decided I was ready to buy. When I walked through the door of an Audi and BMW dealership, I was helped right away!
This is the funny thing about the Law of Attraction. You attract not what you think, but how you feel. You see, deep down I still felt like a peasant, having come from a humble background. I didn’t think a luxury car was for me, and I was acting in ways congruent to that belief without even knowing it!
Low Self-Esteem
Another money energy block you may be experiencing is low self-esteem. With self-esteem comes the inability to love yourself. And when you don’t love yourself, you don’t do nice things for yourself. You don’t take care of yourself as well as you should by going to the gym, by eating well, or by treating yourself to something nice every once in a while.
This includes buying a nice car! This was the money energy block I encountered without even knowing it. I didn’t love or respect myself enough to treat myself with respect and love. Hell, I couldn’t even eat out without feeling guilty about it. Every dollar spent was torture to me because of the money beliefs imparted by my father.
So if you feel guilty about spending money on yourself, it’s time for some introspection and examine the relationship you have with yourself.
Are You Moving Up?
A car may be a silly indicator of success, especially on a site about achieving financial freedom. But what are you looking for when you buy a new car?
- Reduced road noise
- Reduced oscillation, which translates to road noise.
- Higher safety ratings
- Integrated bluetooth connectivity for better safety, like hands-free operation when on the phone or navigating through traffic.
These are are indicators of moving up in life. After all, part of achieving financial freedom is to make sure you can enjoy it. Start a regular exercise program. Eat well. And of course drive a car that has a high safety rating. There are plenty of people out there on the roads who shouldn’t even have a driver’s license but nevertheless have one. So you have to protect yourself so that you can enjoy the wealth you are working so hard to build.
Finally, Does It Make Financial Sense?
Now that you’ve come to realize some money blocks holding you back from making that purchase, be sure your purchase falls within the 20/4/10 rule. This rule, simply stated, means your new car’s final price tag should meet the following criteria:
- After you put a 20% down payment and get a loan for 4 years, the monthly payment shall be less than 10% of your gross monthly income. This final monthly payment includes the insurance premiums.
An even more strict guideline comes from Sam Dogen over at Financial Samurai. He advocates that the final price of your new car after taxes should be less than 10% of your yearly salary. He calls this the 1/10 Rule. This means if you make $100,000 a year, the most car you should get is $10,000. If you want to get a car that costs $40,000 then you should be creating $400,000 in income every year.
Whatever rule you follow, you should be comfortable. For me, the 1/10 Rule is incongruent with the lifestyle I am working to create. It frankly isn’t realistic for most people. So, I opt for the more lenient 20/4/10 Rule. If you’re a super-saver and super-disciplined to create financial freedom, then the 1/10 Rule might work out better for you. Whatever you choose, you should be comfortable with it.
Conclusion
The next time you make a high-priced purchase, ask yourself if any money energy blocks are preventing you from moving up in life. Most people settle for the same or similar level in life. How you do the little things is often an indicator in how you do the big things. Free up your money energy blocks and start enjoying the heck out of life!