On Buying Cars

This month, I’m writing about the Lifestyle of the TrulyRich and Faithful.

Last night, my 10-year-old son was leafing through a glossy car magazine.

The cars were incredibly beautiful.

Benzes. BMWs. Audis. Jaguars.

“They’re so cool, Daddy,” my son gushed.

And I gushed along with him.

I must admit. The cars were utterly gorgeous.

In our society, cars are symbols that make men announce to the world, “I have arrived.”

That’s why people love brand new cars.

But through the years, I’ve trained my mind to think in the opposite direction: I love my car as it gets older.

Crazy, right?

The older it gets, the more I love it.

Not because I like vintage cars.

But because of the savings I get from driving an old car.

Here’s the thing: I love to earn much more than I love driving a brand new car. And I know that with what I save from not buying a brand new car, I’ll be able to invest that money and earn more.

After 12 years of building my wealth, I can afford to buy a brand new car every month. I could pay full cash if I wanted to. But even if I bought a new one via monthly payments, I would still have to spend perhaps P20T to P30T a month.

A part of my brain says, “Gee, that’s peanuts for you now, Bo. You won’t even feel it.” But the other part of my brain says, “Wait a minute. If I invest P20T or P30T a month in the stock market, I can make it grow at 20% a year. Shoot, that will become P40 Million in 20 years!

That’s when I realize my old car has become a fantastic vehicle.

Because it’s saving — and earning me — so much money.


Sure, I hear some rickety sounds from underneath my car.

Sure, the ride isn’t as smooth.

Sure, the aircon isn’t as powerful as when it was new.

Heck, I won’t die.

Because I keep my car in tip-top condition.

As I said in last week’s issue of WealthStrategies, a day will come when it won’t matter. I’ll be a billionaire and it won’t matter if I’ll buy a brand new car every time I feel like it.

But not now. At this time in my life (I’m 43), I want to grow my investments.

What Are My Toys



Rich people buy luxury cars, yachts, and vacation homes.

Some wealthy people buy ultra-motorcycles, state-of-the-art audio equipment, or mansions in posh villages.

These are their toys.

My toys are very different: I invest in God’s ministry.

I don’t look like a millionaire because I love giving 40% of my income to God’s work. Reason? I lead the ministry. I know our needs, intimately. And obviously, I believe in what we do. I believe in the impact that we have on people’s lives.

So each year, I give millions to the ministry with great joy.

These are my toys.

Honestly? They’re the most fantastic toys in the world.

You should try it.


May your dreams come true,

By:
Bo Sanchez