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The Jesse Mecham Show

Tertiary Costs

The Jesse Mecham Show

YNAB

Kids & Family, Education

4.71.1K Ratings

🗓️ 15 October 2018

⏱️ 5 minutes

🧾️ Download transcript

Summary

There can be more to a purchase than the price tag


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Transcript

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0:00.0

Hello, Wienabers. My name is Jesse Meekkimman. This is podcast number

0:07.0

346 for Wienab, where we teach you four rules to help you stop living paycheck

0:10.7

to paycheck, get out of debt and save more money.

0:15.3

When you are going to buy something, and this is usually more of the big ticket item kind of thing,

0:20.4

it's important that you recognize the tertiary costs of the item.

0:24.0

So you've done this fantastic analysis.

0:27.0

You've looked hard and you're saying, I'm going to buy a boat.

0:29.0

And you've done all the costs and you say, I'm going to to wear I'm going to use that boat every single

0:33.0

weekend and you've justified it in your mind then you have to look at all of the

0:38.6

other costs associated with said boat you have have to register it. You have to maybe store it. You have to get a

0:46.7

trailer for it. You have to get a cover for it. Probably a custom cover for it. You have to get toys for

0:52.1

it. Toys you can pull behind it. You have to get toys for it, toys you can pull behind it. You have to

0:55.0

ensure it. You have to maybe pay some kind of long-term storage for it. You have

1:02.0

I don't know. I've never owned a boat. Those are just off the top of my head from a non-boat owner.

1:06.0

I'll bet bone owners can tell me more. You have to treat it. You have to do some kind of winterizing of it.

1:11.0

You, well, and then you have to just maintain it when it breaks.

1:15.9

Tertiary costs.

1:17.4

When I got my Tesla, I was floored, and I shouldn't have been, but I was floored to find out that my insurance costs

1:25.4

that before I'd been like 50 bucks a month to insure two drivers when I did

1:31.6

doubled it just doubled so right there I'm paying another 600 bucks a year to drive a fancy pants car

1:37.8

There it is

1:38.8

Tertiary cost what about when we got a little ding in the Tesla and had to have that fixed?

...

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