From the time that I applied for my Social Security Retirement Benefit (SSRB), I have spent a great many hours in thought as to how to best utilize this unaccustomed space in my monthly budget to my best advantage. In the process I assessed where I am now, where I want to be and how to get there. Part One of The Plan will delineate my financial goals for the last 4 months of 2013. Tomorrow in Part Two of The Plan, I will discuss my financial goals for 2014.
As I see it, I have two really necessary purchases to accomplish by the end of this year. The first payment of my SSRB will be all about acquiring the first of these two items. The most glaring need I have at the moment, is the acquisition of a vehicle to replace the one I am currently driving which does not in reality belong to me but to my former employer. While I am not yet in the position to buy a brand new vehicle as they cost way too much for the amount of I will have for a down payment to make the monthly payments fall within the realm of the possible. Knowing this to be so, I developed several criteria for use in shopping for a new to me vehicle which are listed below.
- If I am to spend the next few years making payments on a vehicle that I want to keep for a while, I want that vehicle to be in my favorite color which is blue. While there are many shades of blue, many of which I really like, the one hard fact is that my next vehicle will be one of them.
- The vehicle must be reliable, economical and physically able to outlast its payment schedule. There would be no point in buying a piece of shit that would not live beyond the last payment, so this dictates a fairly recent, well kept vehicle. In addition it must have working AC, these Texas summers are miserable if your car does not have an AC that can effectively combat the heat.
- The vehicle must have only two doors. I do not want to look like Grandpa going to the grocery store every time I go someplace. I want a vehicle with a sporty look and no matter how you dress a 4 door vehicle, I would still look like someone's straight Grandpa driving one. I am neither straight nor a Grandpa and I refuse to look like one driving around town. I don't have kids, don't expect to have kids nor do I want kids at this point in my life. So a four door sedan or massive SUV are neither necessary nor desired.
- The cost must be such that with the down payment I will have, the payments will fall into the realm of the reasonably possible given the budget I have.
- The insurance costs must also fall within the reasonable range while fulfilling the requirements of the financial agency providing the loan.
With these criteria in hand, I have spent the last couple of months looking at what is available in the lots around town, and I believe I have found a vehicle that fits the bill. The vehicle I have set my sights on is a low mileage, gently used vehicle with only one prior owner. It is a 2008 Ford Focus 2 Door Coupe with only 77,000 miles on it. This means a yearly average of only 15,400 miles of driving which is hardly excessive although it is more than I usually put on a car. In the four years I have been driving my current vehicle, I have put less than 25,000 miles on it. Given that rate, this Focus would still have under 100,000 miles on it when it is paid off and last for several years of service past the end of its payment schedule. It is also a beautiful shade of dark blue metallic with alloy wheels to set off the paint job. So far the Focus fills the requirements of the first two criteria.
The Focus has a good reputation with both professionals and consumers and its maintenance and operating cost are reasonable. This particular Focus has a 4 cylinder engine paired with a 5 speed manual gear box which makes it not only economical but also fun to drive. The windows are already tinted (almost a necessity in this Texas hear); the AC and the heat both work, unlike my current vehicle where neither work; it has new tires on the ground, with a full size spare (not a doughnut) and many amenities like the stereo system, electric locks, a hydraulic jack instead of one of those abominable scissors jacks and has only two discernable blemishes (which are tiny and hardly noticeable) which fulfills part of criteria 2 and all of criteria 3. So far, so good.
While this particular Focus is priced slightly higher than I was expecting (what isn't now days?), with the down payment I will have available, the monthly payments still fall into the realm of the reasonable. It is also a fairly unique model in that it is a two door coupe and not the ZX3 model most commonly found on the road. In 2008, Ford dropped the ZX3 and produced only the two door coupe and four door sedan in the Focus line. At least around here, you don't see many two door Focus' that are not the ZX3, which makes this one stand out more. The insurance costs are also within reason with full coverage and $500 deductible only running $106 per month for the first six months. My Insurance Guy will do a reassessment adding a possible discount on continuing coverage from that point forward. Thus criteria 4 and 5 are met in this vehicle. It looks almost exactly like the one pictured below in a promotional photo, and of course, when I purchase it I will post a photo or two of the actual vehicle.
As long as this vehicle is available on the day I receive my first SSRB direct deposit 22 days from now, it will only take me about an hour at the dealership to nail down the details, paperwork and insurance, then drive out the happy owner (along with the bank) of a sporty, economical, reliable, fun to drive vehicle that is pretty damn good looking.
The other pressing need I have for this year is to replace my eye glasses. It is long past overdue for another examination and replacement spectacles. That should run me around $300 to $350 including the comprehensive exam necessary because of my diabetes and the possibility of glaucoma that comes with it. If all goes as planned, they should be my Christmas present to myself, and still leave a balance in the savings account I will establish with the second SSRB deposit in October. I won't even have to go to the bank to open a savings account, as my bank through its website allows me to open one and transfer money into it from my checking account at any time.
In tomorrow's post I will expound on my goals for 2014, but for now, I will proceed to the music and the men for which you are chomping at the bit. Your Musical Moment for today features a reprise of music for the Cello by Camille Saint-Saens including Cello Concerto 1; Cello Concerto 2; La Muse et le Poète; Suite for Cello & Orchestra Op.16 and Prayer. The performance is by the London Symphony Orchestra conducted by Michael Tilson Thomas on some tracks and Christoph Eschenbach on others with Steven Isserlis as the Cello Soloist and Joshua Bell joining Steven as the Violin Soloist on La Muse et le Poete. Then to wrap things up (or unwrap as the case may be!), there are a number of seriously sexy men awaiting your viewing pleasure as your Tuesday's Temptations for this week. Thanks for sharing part of your day with me, see you again tomorrow. Until next time as always, Enjoy!
