YOLOING, BUT WITHOUT DEBT.
How
to make driving Maseratis, (and not only) Financially sustainable.
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Maserati
GT 2014, www.Maserati.com
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Have you always wanted to drive
an aggressive sport car, and leave a good life, but as all the the other Millenials
(those born between 1980 and 2000), you struggle with overcharged credit card
and long term payments? This post will explain how you can turn your dream into
action without trading off a Responsible money management.
William Strauss and
Neil Howe in a famous research (Research) described us, the
millenials as similar to the generation of the roaring twenties, the era that
accelerated the most consumer demand and aspirations. Everything at the time
seemed to be feasible through modern technology as well as today.
A survey by
market-research firm Harris
Poll, showed that last year 78 percent of Millenials paid over their
budget to have luxury experience.
This trend had clear effects on
the market: Uber boomed, and reached an evaluation of 62.5$ billions (Uber) with
the vision to provide a driver (one of the most famous status-symbol of luxury)
to everyone. Ski operator Aspen Resorts Inc, a company who managed lifts
in the famous resort village in Colorado, went up more than 700 percent since
2009, selling day tickets for 140$, Airbnb Inc, founded with the goal to
provide tourists amazing houses at a cheaper price than hotels, had a
$25.5 billion evaluation by TechCrunch (Airbnb). In small words? People want to enjoy the life.
The trade-off of all this fun?
Savings. Silicon Valley geniuses understood this, and they boomed, trying to
provide smart and cheap solutions for luxurious experiences.
“I don’t put much of my monthly
salary aside at all,” told me Tom (Interview 1) when I interviewed him at
Ronald Tutor Center. We know he is not alone! More than half of Millennials’ credit-card
holders say they carried over a balance. A majority reported
having too much debt, difficulty in making payments, and worries about it.
Is solving this problem possible? Can we
pursue our high end standards without ending in a terrible recession? Providing
an answer for the entire society is hard, but this post will give you smart
tips to live as Rockstars, even when there aren’t softwares as a service run by
Stanford genius to help us.
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Millenials,
Goldman and Sachs defined understanding the behavior of this new generation crucial.
They recently publish an entire study. http://www.goldmansachs.com/our-thinking/pages/millennials/
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How?
It is only about making things
happen, and believing that is possible. I will give you a specific example with
the car industry to make the core of the message clearer, however yhe strategy
suggested is a common behavior people should have in different situation.
The majority of buyers buy cars taking
already in consideration that these goods will depreciate over time. Don’t you
do the same?
WRONG APPROACH! You can always win the
deal, and gain, but the first rule is being confident, and believing that is
doable.
The market is made by people with
different needs, dreams, backgrounds, and trade off costs. Price, as a
consequence, is never absolute, but it has a range. After the big depreciation
the car has along the first months, the value changes slowly. You can make your own price!
You have to be confident, take your time
to do research, find a good potential deal, and negotiate it effectively! You
can buy what you desire under the average price, you can satisfy your "to
do before dying" list, and sell the good after some months (I am sure, at
that point, you will have found something else to dream about!). If you are a
good dealer, and a little bit lucky, you can even gain some extra green backs.
There are some steps you may
want to take to achieve good results.
- Believe in the opportunity.
The rule number one for good
dealers is being able to persuade. In order to make it happen you have to
strongly believe in the terms you want to obtain.
- Become familiar with second
handed car website.
In order to trade efficiently,
every smart deal maker has to know the market perfectly. The price at other
sellers usually sell, the price at other buyers usually buy, the price of
similar cars, are all important factors to be able to drive the negotiation
where you want to.
- Analyze website for a period
of time to understand the range price of the car.
As I said before, there are no
fixed price for pre owned cars and for other material goods. People have
different needs and costs. As a consequence, some people prefer to sell cars
less or more than the others. It is important to analyze the market, and to
understand what are the extreme terms on the market of the item’s price range.
-Close deals with mechanics,
suppliers, car washers, document registration agencies.
In order to avoid problems, and
to sell the car at the best price, you may want to find the right people to
collaborate with. You have to find people in the industry, that make your car
perfect at the best price possible.
-Understand when are the most
profitable moment of the day to advertise your announcements.
Being the goal of all this time
investment, saving money, you do not want to subscribe expensive website to
sell your car. Don’t worry! You are lucky! There are really good, free websites
where is possible to buy and sell cars for free. The only problem is that
visibility is crucial to get the calls, and then the meetings to negotiate and
sell. You have to work hard updating your announcement. You want to have it
always in the first page specifically when the website has the highest traffic.
-Create a story to sell, and
learn how to understand your buyers in order to let them be comfortable in
trading.
You are young, and you have to
learn how to deal with different people. Every time you will trade with
customers with different background. Is up to you to let them feel comfortable
and trust you. The best way to communicate self confidence is to tell a story,
and let your buyers understand that you are offering them a once in a life
opportunity.
As an article published by
Bloomberg last week said: Millenials wants to buy fun and experiences, “Experiences help
them shape their identity and create memories, to a greater degree than for
older generations.” (Bloomberg) Let’s
do it!
WE ONLY LIVE ONCE, BUT LET’S
DO IT IN A SMARTER WAY!
