[GMAN]

I thought about posting this with the thread I started about "Why people fail", but felt that deserved mentioning in it's own thread.

A couple of days ago, I was backing into a tight space at the TA in Columbia, NJ. The guy who was parked next to me got out and tried to assist me. After I got backed in we struck up a conversation. He walked with me to the store. I wanted to grab a bite of dinner, he wanted to get a shower.

It turned out this guy lived about 30 miles south of me and drove for a carrier based in Dalton, GA. His name was Carl. I asked him if he knew of any good flatbed drivers, and he began telling me about buying his own truck. It turns out that Carl has been driving for about 7 years. During that time, he has saved his money, bought a few toys, such as a Harley and a couple of vintage cars. He has built his credit without any credit cards. In fact, he doesn't even have a credit card. He told me that he never had one. He found a W900 he is thinking about buying for $48,000. I believe he said it was a 2004 with just over 200,000 miles. He told me that he plans to pay about half of that price down, with his savings, and finance the rest at his bank. He has already talked with them and will be able to get a load for around 4%. He said that will give him a payment around $600. This guy has a number of "toys" , all paid for, so there is little or no debt. I believe he said that he still owed a little on his Harley. His debts seem to mostly be his monthly utility bills. Imagine that!!

I must tell you that this guy has his head on. He has been patient, saved his money and built a solid credit history. He told me that most of his friends he knew growing up were mostly in debt, had poor credit and no savings. In fact, he told me that he has some who come to him for money. He just could not imagine why people didn't save their money. I don't know how old this guy was, but he appeared to still be in his 20's. My guess is that he was actually in his early 30's. He was clean cut and articulate.

He seems to have thought things through about becoming an owner operator. He may even lease on with his present carrier. I have no doubt this driver will be a successful owner operator. I think he would be successful at whatever he decides to do. While his friends were blowing their money on frivolous things, he was working, saving and now owns quite a bit of acreage with some family members.

Carl has taken his time, learned the business and saved his money. He didn't seem like a guy who got in a hurry. He seemed to have a quite ambition and self confidence about him. Something you get when you have money in the bank and not so much stress. Owing a lot of money can be very stressful. He seems content with his place in life. He knows what he wants and doesn't seem to take life too seriously. I am sure he has adversity in his life. Most of us do at some point.

Anyway, I don't know if Carl gets on the Internet. If he does, I hope he doesn't mind me sharing this with you. My Dad used to tell me that you should save a little something out of every paycheck, even if it was only $5. Add a little interest and next thing you know, you have a nice nest egg.

[rank]

debt = slavery
cash = independance and the ability to choose the loads you want.

[wot i life]

Originally Posted by GMAN

My Dad used to tell me that you should save a little something out of every paycheck, even if it was only $5. Add a little interest and next thing you know, you have a nice nest egg.

Too true, it pays to save.
Unfortunately though, sometimes events in your life can take a downturn and your savings can evaporate :cry:

[Sonny Pruitt]

You know
I once asked a driver how he was able to afford a nice shiney Petercar
He said" It was easy,my wife is a CPA
So if you want to be successful make sure you marry a woman with a good job.
Nurse, executive secretery,lawyer etc.
Stay away from waitress, salesgirl etc

[yoopr]

Originally Posted by Sonny Pruitt

You know
I once asked a driver how he was able to afford a nice shiney Petercar
He said" It was easy,my wife is a CPA
So if you want to be successful make sure you marry a woman with a good job.
Nurse, executive secretery,lawyer etc.
Stay away from waitress, salesgirl etc

Yeah-Having a CPA for a wife is definitely a Plus :P

[Bigmon]

There is a book called The Richest Man in Babylon. It's a story of a guy that saved 10% of everything he made and became rich. Most financial books pretty much say the same thing. Live below your means and let money grow.

Gman, what a difference between Carl and the other guy you met.

[GMAN]

Originally Posted by wot i life

Too true, it pays to save.
Unfortunately though, sometimes events in your life can take a downturn and your savings can evaporate :cry:

How well I know, wot i life. That is why having a savings account is so important. You have a backup should something catastrophic happen. It is much better to have a savings account that is depleted than not have a savings to access in an emergency. By the way, wot i life. How are things going for you? I am sorry to hear about the license.

[GMAN]

Originally Posted by Bigmon

There is a book called The Richest Man in Babylon. It's a story of a guy that saved 10% of everything he made and became rich. Most financial books pretty much say the same thing. Live below your means and let money grow.

Gman, what a difference between Carl and the other guy you met.

I have read that book, Bigmon. It is very good. There is another book which is good called "The Greatest Salesman in the World," by Og Madino (I believe). It isn't really about saving as it about changing habits.

It is amazing the differences between these two people. One was defeated and wallowing in his sorrows. The other was optimistic and looked forward to the future. It is basically a difference in attitudes. Things happen to all of us. Sometimes, life can get us down. It is our choice whether to allow that to happen. It can be difficult to get back up and jump into the race again. I would like to see the other driver turn his life around. Unfortunately, it is his decision and I don't think he can see that, at this point in his life.

[wot i life]

Thanks for asking Gman.
I,m bitter about what happened but life goes on and those of us who keep plugging away will get there in the end.
My savings are all but gone, and bills are mounting;But I,ll be working again soon, even if I have to put plan z into operation :wink:

[GMAN]

I am sorry to hear about the savings, wot i life. I know you will bounce back and do well. Good luck.