Last updated on January 28, 2018
I’m going to tell you about a series of events that dramatically changed my life, including my BIGGEST asshole moment…
From this story, you’ll learn:
You can listen to the story in my podcast below. Or, you can scroll on to read the post.
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The story starts in 2016, when I sold my beloved Mini Cooper aka “Blue Balls.” It kept breaking, so it was time for another car.
Seeing Blue Balls transition to the car graveyard was sad, but I was also excited to treat myself to something new.
I decided to buy myself a fancy-ass car. Why?
I wore a fancy suit (my usual outfit is the same Myles shorts and Sumo t-shirt, e’ry day) and went to BMW, and Lexus, and Ferrari dealerships.
After test driving a bunch of snazzy cars — BMW M3, Lexus ISF 350… and sitting in a Ferrari (they wouldn’t let me drive it 😂) — we landed at the Jaguar dealership.
This is where I saw her.
“Hot Sauce” was a sexy-AF Jaguar F-Type convertible in orange. I took it out for a quick test drive the next day.
In love, I placed the order.
Immediately, I regretted my decision.
Impulse buying was my first mistake. Then, it got worse...
After 5 months of waiting, my baby “Hot Sauce” arrived.
Here's the weird part: The immediate feeling that came over me was sadness.
Not “I can’t wait to tell my friends.”
Not feeling like I finally made it.
Just straight-up sadness.
To make matters worse, I quickly started acting like an asshole with my new car...
On day ONE of owning “Hot Sauce,” I SCREAMED at a lady because she caused a door ding.
In the midst of yelling, I had a realization this was not what I wanted in my life. And it was only the first damn day!
Even though the car looked cool, it felt more like a burden than the $73,000 machine I thought would give me immense joy.
Because of the amount of money I’d spent, I felt incredibly invested in making sure the car was always perfect. It made me realize that most rich assholes are just too protective of their stuff.
“Hot Sauce” wasn’t for me. And after paying more than $1,000/mo for the car payment a few months in a row, I needed to just see it gone. I just wanted it out of my life.
The happiest day of owning the car was the day I got rid of it — it was almost a best day ever.
Before I bought the Jag, I could have tested it out for a full day, in a few different situations, to see if I enjoyed it before I wasted $15,000 on payments for the damn thing.
Cars don’t matter to me, and I know this now. I wasted a ton of time, energy, and money to find that out.
The key is investing your time and money in the things that matter to you. 🔑
Life lesson time…
Instead of wasting money on stupid material possessions, you can put the money towards creating your perfect business (here are some ideas).
Or, you can take people you admire out to lunch to test the waters for a friendship (if you’re afraid to reach out, check out these cold email templates).
With the “Test Shit Out” strategy, the aim is to try before you buy. For example:
When you test something out, you know how happy (or unhappy) something makes you before committing.
The Jaguar cost nearly 10x what I’d normally spend on a car. Did it make me 10x happier? Hell no. I could have found that out in a weekend by renting a Jaguar, rather than throwing months of time and cash down the drain.
Think about how you can test things out on a smaller basis before you commit to purchase.
Here’s a recent example of the “Test Shit Out” strategy in action from my own life: I was thinking about buying a condo, so I reached out to the realtor and asked if I could rent it before buying.
I ended up deciding not to buy the condo, because I didn’t enjoy renting it. Buying that condo could have been an even bigger, costlier mistake than the Jaguar if I didn’t test it out.
So why does all this matter? What are the biggest learnings you can take away from this story as you make decisions costing you either money or time?
If you want to learn more about how I’m making decisions after my rich jerk moment, check out the video below. Or, keep reading.
We’re alive for a short period of time — my friend Neville even has a calendar counting down to his death. It’s important to reduce the time, money, and energy you waste on things that don’t matter.
I don’t enjoy long meetings, so I stopped wasting my time and energy on them. Now, I set agendas for everything and make sure every meeting in my calendar is going to be fulfilling.
Think about what you truly value and enjoy from life and try to optimize every day to be filled with the things and activities you enjoy the most.
By testing shit out you can find the things that really matter to you, and then spend your money on those things.
After my mistakes, I realized nice cars don’t matter to me. But good beds, books, and faster laptops do matter. I’ll spend as much money as I can on these important things.
Easy mantra to think about it: Spend your money where you spend your time.
If you’re unsure what matters to you, use the “Test Shit Out” strategy to uncover the things that truly bring value to your life.
If you’re buying something, especially if it’s something big or expensive, you should be excited.
If you’ve just brought a new house you should LOVE walking through the front door every single day. Or when you walk to your car you should be thinking “hot damn, that’s gorgeous.”
Once I finally got rid of the Jaguar, I ended up buying a 2004 Miata (named “Blanca”). Now, when I walk over to my car I love looking at it.
There should be a level of emotional gratification with every key part of your life: your partner, your house, your car, your latest hire…
If you’re not excited — and a bit nervous is OK, too — it might not be worth the cost.
Mistakes are unavoidable in life:
The key part of this is learning, and how you react to each mistake.
Buying the Jaguar for myself was a terrible idea. But, it helped me to realize what matters to me and how I can prioritize those areas of my life.
Instead of dwelling on mistakes, look at them as chances to learn.
So there you have it: my BIGGEST rich asshole moment.
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Honestly, it was tough to open up about this. I felt embarrassed as I told the story about screaming at that poor lady over a stupid door ding. I shared because I think the lessons are incredibly valuable.
There’s something really rewarding about taking time to figure out what you want in life and taking the time to get it.
Ultimately, spend your money and your time on things that MATTER most to you.
Don’t be a jerk like I was. Test drive your happiness, and try things out before you commit for the long-term or buy.
Challenge: Tell me the last thing you regret doing. Knowing what you know now, what would you do differently?