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How to afford a Tesla on a budget - personal finance life hacks

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Really? Because you banned me when I posted a simple question: Why do you accept paid advertising? You kicked me out of your group and blocked me so I could no longer even see your group on Facebook. All because I asked a question. No warning. No explanation. No dialog. Since then I've met hundreds of other Tesla owners and enthusiasts who have said the same thing about you. One of those that you banned started a national group that has many thousands of members. You have inspired a movement.

That's unbelievable. Hopefully the mods will stop from him from continuing to post his Youtube videos here since they are just click bait and a waste of our time. I guess he's trying to make money to pay for his Tesla.
 
hmm... not for me, but thanks for sharing.

I agree 100 %!!! My advice:

- Max out your 401K, or buy some TSLA first, and get instead a pedelec (pedal electric cycle) or a used Honda Civic or a Nissan Leaf....

- When you have enough cash, buy a Tesla and make a loan to yourself to reimburse your payment every month.

- Getting a lease is absurd (unless you can deduct from your IRS taxes for your work) as you will spend your life paying for a car.

- Buy only what you can afford, and get a loan only for a house or a condo but not for a car.

With the money you save, then travel all over the world. Traveling will make you richer than you think!
 
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I agree 100 %!!! My advice:

- Max out your 401K, or buy some TSLA first, and get instead a pedelec (pedal electric cycle) or a used Honda Civic or a Nissan Leaf....

- When you have enough cash, buy a Tesla and make a loan to yourself to reimburse your payment every month.

- Getting a lease is absurd (unless you can deduct from your IRS taxes for your work) as you will spend your life paying for a car.

- Buy only what you can afford, and get a loan only for a house or a condo but not for a car.

With the money you save, then travel all over the world. Traveling will make you richer than you think!
Terrible advice.
 
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I agree 100 %!!! My advice:

- Max out your 401K, or buy some TSLA first, and get instead a pedelec (pedal electric cycle) or a used Honda Civic or a Nissan Leaf....

Whether or not you should rely on TSLA stock as an "investment" is a hugely debatable topic discussed to death elsewhere, I would not count that sound advice whatsoever.

Regarding the thread, every thread starts with a link to his "helpful videos". His intent is only to push his videos in new threads periodically for clicks and likes. I think the mods should really take action on stuff like this as its getting tiring to see a new thread pop up every week with no useful discussion following the post.

To the OP, I know what you are trying to do and there is nothing wrong in making videos discussing essentially what many consider obvious info, there are indeed many folks who like such advice and find it useful and there is a market for it.

But I think the way you are doing it here is borderline spam, creating a new thread in a discussion forum periodically linking to a video you made on an external site tied to ad revenue based on clicks and likes to me is not in good spirit of the discussions on this forum, its more like having a pop up ad in the forums. Whats next every accessory maker links to "review" videos and new product videos? Every blogger creates a new thread everytime they write a new blog post?

If you've already gotten the nod from the mods to continue doing this, well good for you, in that case I voice my concern to the mods that this is not a good decision. But if you have not, I urge the mods to shut this sort of behavior down.
 
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in my view, someone who really is making "good financial choices" would buy a revenue property, or other investment, that pays you back, before buying an expensive vehicle -- which really is just pouring money down the drain -- and makes no sense financially, no matter how you look at it.

The fact is we are all depreciating assets with an expiration date. Affording the good things in life while we still can is an investment in ourselves. Please refrain from drawing references to YOLO. We'll leave that reserved for the millennials - no offense.

Priorities are different for everyone. When it comes down to it, we need to please ourselves before pleasing anyone else, including our financial advisors. Call that selfish, but I challenge anyone to show an example of a truly selfless act, where someone sacrifices their own happiness solely for the good of another - which the doer gets absolutely nothing at all in return (including a sense that they're a good person). Military soldiers are more often than not the exception.

Should we ensure that we are well capitalized elsewhere? Sure. That's the smart thing to do before dropping a chunk of change on anything. Your example of investment properties could be a wise financial move. However there are risks in any investment and a rental property or two is definitely not for most people.

Drain your bank account to afford a Tesla? Not for most people, not for me, but some do. Whatever makes us happy though.

In the meantime, posting helpful hints about affording a Tesla doesn't hurt anyone. The OP may be posting tons of these videos to earn a buck, but no one is forcing your hand to click. How many times have we shared our referral code on this forum? None for me, just an example of what others are doing to get something from others.

And by the way, I am pretty sure you are able to select "ignore" for any user in this forum. Not sure how encompassing this function is, however I am sure it will help those who are frustrated with individuals on this forum.
 
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I promised myself to make it to the end.

But holy mackerel, this is singularly terrible spamvertising. Some of my favorite bits:

... Let us talk about easy ways to free your money such as ... moving! selling your belongings! getting a roommate! living with your parents!

Get free stuff! Like $200 per month cash back on credit card purchases*

Hidden secrets to saving money by ... making your own dinner! not hitting the bars every night like some third-rate Bukowski!

Did you know that Advil is actually .... ibuprofen! BOOM! <mic drop>

Have you heard of a little company call <<INSERT BRAND HERE>> Intuit. They are actually really cool and <<INSERT WIKIPEDIA LEDE>> a-business-and-financial-software-company-that-develops-and-sells-financial-accounting-and-tax-preparation-software-and-related-services-for-small-businesses-accountants-and-individuals.

stay charged!(TM)

I'm not normally so snarky but this effort is so nakedly, shamelessly self-promotional. If I thought even a second was intended to help anyone other than the OP, I'd refrain. But that ain't the truth. It's so steeped is this in narcissism ... just wow.

I can't believe mods allowed this. Reported.

(*requires $10,000 in monthly purchased)
 
OK, I listened to some of the 28 minute video, because I decided it makes sense to at least give him a chance. I have come to the informed decision that he's 100% a troll on these forums and out to make a buck for himself.

A few cliff notes:
"These aren't tips I googled around for, every single one of these tips I created myself"

Top 10 tips for "minimal lifestyle changes" to afford a Tesla:
1. "Bargain the price down"
He paid $20k less than other people for his own model
Including: government incentives, referal program, lease instead of buy, get inventory car instead of a new one, and don't get options you don't need.

You're going to save on paying for gas.

Umn... yeah, you created this one yourself? LOLOL

2. How much do you earn vs. how much you spend
Keep track of your spending, because you spend more than you think you do.
And use Mint.com to keep track of it.

Yes, you invented this one yourself too... yawn

3. Secondary income
Do product trials
Babysit
Petsit or dog walk
Ebay, craigslist, facebook sales, etc.
Sell stuff you don't need
Airbnb your home

Yes, you invented this one yourself too...

4. Plan your purchases
5. Take care of your credit score
6. Where to live
7. Don't refuse free stuff
8. Be frugal when going out
9. Stay away from brand name
10. Watch where you shop


This is groundbreaking.
 
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When it comes down to it, we need to please ourselves before pleasing anyone else,

In my opinion, this is terrible advice. I make a conscious effort to please my wife and kids before me. I also do the same with my friends and the rest of my family. To me, this is the essence of being a caring human being.

Call that selfish, but I challenge anyone to show an example of a truly selfless act, where someone sacrifices their own happiness solely for the good of another - which the doer gets absolutely nothing at all in return (including a sense that they're a good person).

I take it you do not have kids? If you do, I can't see how you could post this statement. If any of my kids got cancer, I would take it from them, and give it to me, in an instant if I could and I would do it solely for the good of my child and not expect anything else in return except my death instead of theirs. Also, people do selfless acts everyday, some of which lead to their death...

‘Brave and selfless’ Oregon stabbing victims hailed as heroes for standing up to racist rants

These people didn't sacrifice their lives for the "sense that they're a good person". They did it because it appeared to be the right thing to do at the time. The fact that you cannot relate to this, and state that everything we do is for our own self-interest, is troubling.

Priorities are different for everyone.

Of course they are. This is a forum where we post our opinions. That's why I said in my post "in my view".

Please refrain from drawing references to YOLO.

I have no idea what you're talking about. I never once said "you only live once" if that's what you mean by YOLO. Also, I would appreciate if you don't tell me what to refrain from posting. Instead, just use the ignore button with me.
 
In my opinion, this is terrible advice. I make a conscious effort to please my wife and kids before me. I also do the same with my friends and the rest of my family. To me, this is the essence of being a caring human being.


I take it you do not have kids? If you do, I can't see how you could post this statement. If any of my kids got cancer, I would take it from them, and give it to me, in an instant if I could and I would do it solely for the good of my child and not expect anything else in return except my death instead of theirs. Also, people do selfless acts everyday, some of which lead to their death...

‘Brave and selfless’ Oregon stabbing victims hailed as heroes for standing up to racist rants

These people didn't sacrifice their lives for the "sense that they're a good person". They did it because it appeared to be the right thing to do at the time. The fact that you cannot relate to this, and state that everything we do is for our own self-interest, is troubling.



Of course they are. This is a forum where we post our opinions. That's why I said in my post "in my view".



I have no idea what you're talking about. I never once said "you only live once" if that's what you mean by YOLO. Also, I would appreciate if you don't tell me what to refrain from posting. Instead, just use the ignore button with me.

Sorry you missed my points here.

  • The YOLO was not directed at you. It was just a general statement.
  • I do not have kids, but if my wife and I did, then we would care for them just as much if not more than we care for each other. Being a decent and caring human being by caring for others sometimes more than yourself is not selfless because it also ultimately pleases you to at least some degree. If it doesn't please you, then you're either lying to yourself or going about life in a pretty dreary fashon - this is a discussion on a whole other forum, sorry to have digressed.
The comments about the OP's videos certainly make one believe he's a nuisance. I choose not to watch. Again, try selecting his name, then select "ignore". Don't do it for anyone else. Do it for you; you deserve a little happiness. - this isn't necessarily directed at just you Canuck.
 
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Didn't watch the video because, well, it shouldn't take 28 minutes to give this type of advice... but these comments are quite entertaining. Based on the cliff notes provided, throwing out the ridiculous advice, my main comment would be: If you already don't think this way, you shouldn't think this way for the sake of buying A Tesla, or something out of your current means.

I may self started with the basic steps here, such as being mindful of what your spend, your credit etc, over a decade ago and essentially revamp my plans every year if I find cost savings in general. When I looked into buying a Tesla, since its a want, more than a need, and a depreciating item, I ensured it fit the plan I already had. I didn't take money from this or that to "afford" it, except I could clear the budget like for gas! If I would have, then I was buying the wrong vehicle.
 
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Not sure exactly why so many people are bashing the OP, you didn't have to watch the video for any duration. If you don't like his advice, move on.

The best advice that any of us can give, is to live within your means. It's probably not very practical for someone who makes $30K per year to be able to afford this car used or new (assuming they have other traditional adult bills to pay).
I have to admit that I'll never make another splurge like this again on a depreciating asset, even though I feel like a million dollars every time I drive my car. Do what makes you happy, but doesn't drive you broke.
 
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Right, those Oregon stabbing victims who died in the news article I posted did not do an act of pure selflessness because it "ultimately pleases" them that they sacrificed their life... :rolleyes:

Actually, that is an excellent example of a true selfless act. That is the ultimate sacrifice. They are heroes. Hence my reference to military soldiers putting their life on the line on a regular basis for many people they do not even know. These people made a conscious decision to help others knowing that they could potentially die by doing so. Most of us would not generally put ourselves in the same life-threatening position, IMO.
 
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