2823: 7 Reasons Why I Drive a 17 Year Old Car by Jen Hayes on Financial Habits for Building Wealth

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🗓️ 8 August 2024

⏱️ 7 minutes

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Summary

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 2823: Jen Hayes shares her practical reasons for driving a 17-year-old car, highlighting how it saves money, reduces stress, and aligns with her goal of financial freedom. Her approach emphasizes the importance of humility and avoiding debt over the desire for a flashy, new vehicle. Read along with the original article(s) here: https://www.jenhayes.me//17-reasons-why-drive-old-car/ Quotes to ponder: "It’s what most people would consider embarrassing. Some people think I’m crazy for continuing to drive this vehicle, but here are seven reasons why I do it." "My car might be 'embarrassing' to some, but this old car is part of the reason why we’ll be debt-free someday." "Live like no one else now so you can live like no one else later." Episode references: Dave Ramsey's Financial Peace University: https://www.daveramsey.com/store/product/financial-peace-university-class The Millionaire Next Door: https://www.amazon.com/Millionaire-Next-Door-Surprising-Americas/dp/1589795474 The Total Money Makeover: https://www.amazon.com/Total-Money-Makeover-Classic-Financial/dp/0785289089 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This episode is brought you by Revolute, your travel companion for all things money.
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0:10.0	ATM withdrawals wherever you are in the world.
0:12.9	You can set up an account in minutes and then instantly add your new car to Apple Pay or Google
0:17.4	Wallet.
0:18.4	Receive 20 pounds when you first spend 20 pounds when you sign up at Revolute.com
0:22.1	4 slash Spotify reward until 17th of September 2024,
0:25.8	18 plus, T's and C's apply, exchange fees and fair usage limits apply.
0:30.6	This is optimal finance daily.
0:33.0	Seven reasons why drive a 17 year old car
0:37.0	by Gen Hayes of Gen Hayes dot me
0:40.0	and I'm your host and personal finance enthusiast, Diana Merriam.
0:44.0	Now let's get right to it as we optimize your life.
0:48.0	Seven reasons why I drive a 17 year old car by Gen Hayes of Gen Hayes dot me.
0:58.0	My car is ugly. It's rusty. It has plenty of scratches and a few dents, and it's 17 years old. It's not pretty or shiny. The
1:09.3	heat and AC is out half the time, and it's usually making some sort of bizarre noise.
1:15.0	It's what most people would consider embarrassing.
1:19.0	Some people think I'm crazy for continuing to drive this vehicle, but here are seven
1:24.4	reasons why I do it. Number one, it's cheap. The main reason I drive a 17-year-old
1:31.6	car is because it's cheap. The tabs are less than $50. My
1:36.7	car insurance is $50 a month and the parts for repairs are inexpensive as well.
1:42.0	If I bought a newer vehicle, it isn't just the car
	...

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