It’s important to understand what motivates you when it comes to making big purchases.
A client recently went out to buy a very nice car.
Given the tough COVID economy, they were able to negotiate a sensational deal.
But it was interesting to observe the conflict between the heart and head.
The heart was desiring the beautiful car and the great offer seem to be outscoring the downside of the Luxury Car Tax limit and Fringe Benefits Tax, which was what the Head was arguing.
And the sweetener was the Instant Asset Write Off which will help his tax position this year, even though he can’t claim more than the limit.
He asked me if he should buy it (crazy question to ask an accountant!).
I said, “Do you want me to answer to your heart or your head?”
He said, “Both!”
“Impossible!” I said
He bought the car
(I think he was always going to buy the car…)
Let me know if you need a hand
Peter