Learning financial restrain

My entire life I wanted a blue dirt bike, but was never allowed because my parents told me dirt bikes were dangerous.  In January of 2017, I purchased a dual sport Yamaha WR250R for $7,500 (including tax and tags).  Dreams really do come true!  After several months of riding around with a few spills off-road, I took a nasty spill on the paved road.  My front brake locked up randomly causing me to fall off my bike at nearly 40 mph with limited protection.  About the same time I just found out my wife was pregnant, so I decided it was not in my best interest to keep my bike around for much longer.  My wife may have had a small part in my decision too.  I listed the bike on Craigs List for $5,500 and ended up getting $5,000.


I am not completely upset I ended up losing a few thousand dollars because I did get a few months of enjoyment out of the bike and achieved a life long goal of owning a blue dirt bike.  I will say before going out and purchasing a semi-expensive toy like this dirt bike, I should have put a little more thought into it.  I should have had a little bit more discipline to restrain myself from spending $7,500 or so on something I would only keep for a few months.  In my defense, I did not know I would only end up owning the dirt bike for a few months.  In addition to the $7,500, I did spend $300 on a new exhaust pipe and a few more dollars on a skid plate and handle guards.

We are all going to make financial errors in life, which is completely fine as long as we learn from it all and can recuperate financially.  I share this story to hopefully help others realize excitement of purchasing something like my blue dirt bike only lasts so long.  If you can convince yourself you do not need it (if you do not), then there may be some benefit for you in the end.  If you are going to continue beating yourself up over it, then you may want to buy the item so you can have some peace of mind.  If it is a dirt bike, motorcycle, or some sort of other ATV, please be careful.  These are very dangerous.  I did tell the buyer of my blue dirt bike to please be careful.

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