Discover MMM blog and I just bought a Cooper S… :-S

[Dorian]

Hello Everybody
 
This is my first post. I just wish I would have found this blog one month before… Two weeks ago I bought a Cooper S and now I think I am going mad! Grrrrr…. My mind is conspiring now of how to give it back to the dealer  :-S
 
I am a Spanish national (sorry for my English as it is not my mother tongue) and I currently live in Switzerland.
 
I am sure that after you read the title you may not believe this, but 10-15 years ago I was an ultimate Mustachian. I got to read that one book in my childhood where I read that there are two ways of dealing with money: 1. Spending less of what you earn… and 2: Earn more of what you spend. And I got the message and I sticked to the first rule like dear life!  … at least until four years ago.
 
Back in 1996, before I had any professional experience I went to London to learn English with only 1600$ in my pocket.
I applied there the "subsistence economy", which is, spending the minimum to cover just plain survival needs. I was working in bars and restaurants for a year while going to classes. You cannot imagine how expensive and rough that city was, but I managed to survive with my little salary and even saved some money!
 
Then in the early 2000's I went back to Spain (Madrid) where salaries were really low and the cost of living is tremendous. But again, I managed to live unexpensive and with dignicy, I didn’t have a car, didn’t have expensive hobbies, etc.
 
Then in 2004 I got laid off from my job and decided to try my luck in a country with better perspectives. I moved to Switzerland, and soon I was working in a debt collection company where I got a decent salary and good bonuses. So for the first time in my life I was saving like an ass! I soon had USD 120.000 in the bank. I was still a Mustachian at that time. But then the transformation happened…

Personal development entered into my life. I got to read many amazing books and even went to seminars. I met different great people. Everything was well, and I believe that change was for the better. But then a female friend who was driving a SUV crossed my path and recommended me that book…that damn book… "Rich Dad Poor Dad" from Robert Kiyosaki… And decided to change my lifestyle "for the better"  (Btw, what do you think of this damned book?)
 
Because I had already a good 'stash' in the bank and I am working for a company where I am doing almost six figures, I decided to "think money", "upgrade my lifestyle", "treat myself" once in a while and "invest in myself" and all that crap because "I deserve it". Damn it…
 
As a result of this, the last 4 years have been crazy. I got a Mini Cooper on a lease four years ago, holidays to exotic countries, expensive diner in restaurants, fancy clothes, etc.
 
Ok, the good news are that because of my recent Mustachian past I didn’t get on debt or I spent all of my yearly income, but I went from saving almost 40% of my salary when I first arrived to Switzerland to saving less and less. Last year I could only save a 10% and this year I didn't even save a dime! (or a 'rappen' as they say here).
 
Now I have the terrible feeling I am going to work everyday for nothing. And then I had this ultimate stupid idea two months ago to "upgrade" to a Cooper S (that I even got on a lease!). What the hell I was thinking????
 
But then I found this blog. I am going through the posts like crazy since 3 days ago! It has awaken the dept slept Mustachian within me… And I want to get back on track to a more frugal lifestyle!
 
My first task would be to do something with the Cooper S. Hell, what can I do? Go back to the dealer and tell him, "thanks very much, I had fun the last 2 weeks but here you got the keys" ??  (Hmmm… I am thinking I am gonna tell him I am leaving the country for good and I have to give it back)
 
The operation would be financialy unprofitable for me (since I would have to pay for the interests until the lease expires etc and I don’t know if there is any additional penalties :-S ) but this is better that than the bleeding financial burden of every month's lease (USD 450) and associated expenses (wintertires, insurance, garage, petrol, etc).
 
Geeze.What shall I do now? Shall I "enjoy" the Cooper S or give it back ?
 
I am brainstorming right now and I am a little bit confused, so if you could bring me some light I would appreciate it.
 
Thanks very much and best regards
 
DD

[happy]

Welcome Dorian,

 I so relate to your post ... I had spent a decade or so developing great frugal habits and was just debt free.. and then had a spendy three years:  looking back I really don't know what came over me. Fortunately I came to my senses and am now paying/repairing the damage and there will be no more back sliding for me.

Re the car: I'm not familiar with your laws/contract in your country.  Read the contract and work out what it will cost to keep it and what it will cost to get rid of it.
In Australia once you drive out of the dealership, your "new" car is "used" and you take a massive hit of depreciation.  You might have done some of your dough:(

Fear not though, by practicing the ways of the Moustache, you can start to repair the damage and get back on track.

[thrifted]

What matters most is that you've seen the light. Twice!