Selling my Car to Fund my Startup

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I have contemplated (or procrastinated rather) about selling my car for awhile since I decided to embark on my entrepreneurial journey.

At the city I live, there is really no need to have a car given the transport infrastructure.

I had a car because most of my colleagues and friends had one. And I also grew up in a city where car was more a necessity.

Recently, our household was hit with an unexpected bill and my wife mentioned I should more seriously consider selling my car.

My lower self immediately kicked in when she said that. I thought I could still keep the car even though right now I have no income. I could still maintain for awhile giving my savings.

I would justify keeping the car by thinking since I have the car for 4 years, buying a similar car later would be more expensive so I might as well grind through the next couple of years and hopefully I would have some income by then.

But then I started to realise that is an excuse and so I thought deeper.

I started feeling sorry for my daughters because I couldn’t drive them around anymore. I felt I wasn’t doing a good job as a father as a result.

But when I am away from home, our parents take the daughters out without me driving them anyway. So that is actually my own bias.

Finally, I realised I wanted to keep my car because it signifies the lowering of my status otherwise. This was the struggle my mind had to win over.

I could go get a job, have a car and maintain my “status” or I could do what I am doing now.

As I think deeper I started to know myself better. I note that I actually don’t really enjoy driving that much like I am not the type of person to just go for a drive if I have nothing to do.

Practically, the car doesn’t get used all that much but the monthly maintenance like car park, insurance, cleaning, servicing is a burden.

As a result, after selling the car, I actually felt less mental burden financially and I felt more free. 

It also meant another extra 6 months cash flow at least to keep the household going.

For my daughters, it actually meant more resources for taxis or Uber. And that is already so much better than many many people in the world so I cannot feel sorry for them and they should learn to appreciate rather.

And not driving meant I can have my attention on other matters during the ride or simply allow my mind to get some rest or do some meditation.

I also recall, ever since I was small, every time I had to change my car, it was an upgrade and I believe this time is no different.

I would like to say a big thank you to Steve Campbell at The Ascent. He reminded me what it means to go all in. Also, thank you for allowing me to write in your publication.

Also, thank you to Gary Vee for reminding me not to be afraid to eat shit. But honestly, I am still quite far from it so I am grateful already.

In the past few months, I have started cutting off all unnecessary expenses, which I admit before I didn’t cut deep enough.

My wife and I already live with our mums. And we would only spend slightly more on food if we are with them and our daughters. I would just have a bun if it was just myself.

Now, the last thing to cut is the Cable TV, which meant no more live soccer!

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Categories:personal growth, startups

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2 replies

Trackbacks

  1. I can’t believe I just paid someone $600 for a single comment – The Banking to Startup Diary
  2. 3 crazy things happened in my life in 2018 – The Banking to Startup Diary

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