I Bought a Depreciating Asset! (On Purpose)

📥 Get my free eBook: https://www.ammarsiddiqui.com 📚 Paisay Kaisay Series: https://www.paisaykaisay.com I bought a depreciating asset. Here are the 3 questions I asked myself first. Everything you buy costs you more than money. It costs you the time you spent earning that money. In this video I share the exact framework I used to upgrade my car after 8 years, and how you can use it before making your own car decision. This isn't a car review or a promotion video. It's a personal finance framework for anyone thinking about upgrading an existing car. The 3 questions to ask before upgrading your car: Desire or necessity? Am I upgrading because I need to, or because an ad made me want a shiny new car? How much can I actually afford? My rule: never spend more than 1/3rd of your net worth on a car (and your house doesn't count in that net worth). Can the same money add more value elsewhere? Solar, dividend stocks, or other investments might improve your life more than a new car. Also in this video: Why a car is a depreciating asset, not an investment Why having the money to buy something is not the same as being able to afford it Why I removed my car from my assets the day I bought it Why I chose a PHEV with solar at home Status mode, and why this framework won't work if you're stuck in it How much you drive should decide whether you upgrade 📘 Free ebook, 4 Step Guide To Financial Stability (11,000+ readers): https://ammarsiddiqui.com 📚 Paisay Kaisay, a financial literacy book series for kids. Sign up for launch updates: https://paisaykaisay.com If you vibe with videos like this, let's grow together. Your brother, Ammar ❤️ Hi, I'm Ammar, I started out as an apprentice, never went to university, and taught myself the way from a government engineering job into software, business, and writing. This channel is where I share what I'm learning about money and life as I go. I don't have it all figured out. I'm working it out one decision at a time, and I share the frameworks, mistakes, and lessons along the way so you don't have to learn everything the hard way. Here we talk about personal finance, investing, financial freedom, and designing a life that is truly your own. No get-rich-quick schemes and no hype, just honest conversations, the kind you'd have with an older brother. I'm also the author of the free ebook 4 Step Guide To Financial Stability and the Paisay Kaisay financial literacy series for kids. If that sounds like your kind of place, pull up a chair. Let's figure it out together. 📥 Download my free ebook: https://www.ammarsiddiqui.com 📚 Paisay Kaisay Book Series: https://www.paisaykaisay.com 📱 Connect with me: Instagram:   / theammarsid   Facebook:   / theammarsid   LinkedIn:   / theammarsid   YouTube:    / @theammarsid   Twitter: https://x.com/theammarsid/ Get My Free eBook: https://ammarsiddiqui.com/ Disclaimer: The content on this channel is for educational and informational purposes only and should not be taken as financial, investment, tax, or legal advice. Everything I share is based on my own experiences, opinions, and decisions, which may not suit your situation. I am not a licensed financial advisor. Any companies, products, or numbers mentioned are examples, not recommendations to buy or sell. Investing involves risk, including the loss of your money, and past performance does not guarantee future results. Please do your own research and consult a licensed professional before making any financial decision. You are solely responsible for your own choices. Any sponsored content or paid partnership will always be clearly disclosed. Chapters: 00:00 What is the true price of anything? 00:45 This Video Is not about My Car 01:22 3 Question Framework for upgrading your Car 02:10 Desire Or Necessity? 04:20 Affordability 07:10 Can I Buy Something Better? 09:24 Tribute to my Old Car (BRV) 12:17 Is Car an Asset? 13:52 Most Important Part Of the Video