Hello, whinabers. My name is Jesse Meekham and this is podcast number 269 for Wineb,

where we teach you four rules to help you stop living paycheck to paycheck, get out of debt and save more money.

Today I want to talk about the cost of ownership, especially as it relates to expensive items.

If you live in a place where it snows and you decide to buy that place with a nicer view,

so you have to go up a little bit of a steeper hill, then suddenly you need to buy snow tires and you never did before and you have to buy

those for both vehicles because otherwise you'll be shoveling the snow out of the

way for your wife to get the van up to the house. That's one example

of a hidden cost of owning a specific lot. And then when you end up driving a fancy car then those snow tires have to be fancy and they end

up being more expensive and then when you're insuring that fancy car it's more expensive and when that

fancy car gets a ding the repairs are more expensive and my fancy car doesn't take

gas but if yours does it probably has to be like that premium expensive fancy gas and that's one example

when you're saying hey I think I want this like this is this is going to be fun

I'm going to buy this fancy car suddenly you have all these other fancy expenses that just run along with them.

What about that really nice, I don't know, dress or suit that needs to be dry cleaned?

Little hidden cost of ownership there with the nicer stuff.

What about if you were buying, gosh anything that is a little bit of a higher price tag where you might need to

insure it. What if you use a certain kind of wood for your floors in your home?

And that means that they need to be maintained a little more expensively than another kind.

What you have to do is just think, okay, I'm going to be buying this one

purchase, I call them ancillary purchases, I'm going to be buying this one thing and I've

prioritized it, I'm following all the rules and all that. Rule one, give every dollar a job,

and I've decided that this is a big priority for me, you just have to kind of trace that line.

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