Master Plan Realised – Tesla Model 3

Hedgehog 2
We did something

Secret

Master plan realised – Tesla Model 3, I am smiling like a Cheshire cat. 

The last couple of weeks I have had to keep a secret. In doing so it made the reality so much better. 

3- 4 weeks ago I was working from home and my wife walked in the house and said,

“ It cost me $93 to fill up the car today. The petrol price was $1.79. This is ridiculous I am seriously going to crunch the numbers to see if we can afford a Tesla.”

My wife

Well to say my jaw just about hit the ground was an understatement.

Jaw dropping
Photo by Shubham Dhage on Unsplash

You see we have talked about it for many years but ultimately the price of electric vehicles seemed so expensive. 

I have had a lot of the Tesla and EV community say, yes the upfront cost is more, but the running cost and the cars are something else.

I understood that, but it was hard to justify such a large amount for someone who is an average wage earner. 

So, it was massive surprise that my wife was adamant that the price of fuel was not going down and she went about working it out. 

Number crunching

After a lot of number crunching of the budget and looking at all the items you need for a new car.

It would cost no more than an extra 30 dollars more than what we were already paying for her Internal Combustion Engine (ICE) vehicle. 

budgeting
Photo by Lukas Blazek on Unsplash

We were both surprised by the results.

It turns out that in the last 12 months there has been a shift in the interest in the electric vehicle industry. There has been more attention paid to electric vehicles as the global push towards renewables.

Trade-In

The key to the purchase was the trade-in of the existing vehicle.

ASX 2
Trade in vehicle

We tried to find a place that might purchase the vehicle out right, but most places offered way less than the expected amount we were both after. 

Due to this we paused for a moment as we needed to get the right price for the trade in.

After a few trade-in prices that were not close enough, I went back to the Tesla website to droll over the Model 3.

I noticed that Tesla does trade-in’s.

So, I, entered all the details of the vehicle and went about my day.

TRADE IN LINK
Image courtesy of Tesla.com

Out of the blue a couple of days later I had a phone call from the Sales rep at Tesla. He mentioned that they had sent an email with the trade in price and that they would be able to cover the value I entered. 

I was completely surprised and realised the Model 3 was back on the cards. Tesla had the best trade in price of any place we had visited before. 

Test Drive

Master plan realised – Tesla Model 3. So, we booked another test drive to just confirm that this was the direction we wanted to go. Seriously who were we kidding we wanted the Model 3 and we just wanted to test drive it again.

Test drive
Image courtesy of Tesla.com

Now I have test driven a Tesla Model 3 before and they continue to be an amazing car. Both my wife and I had no doubts that this was what we wanted to do. 

We signed on the dotted line that day and the Hedgehog was ours.

Hedgehog
The hedgehog

Whilst we were doing the order in the store with a fantastic salesperson, Jerry, he asked the question if we were health employees. It turned out that we received some extra benefit for being health employees which meant no delivery fee and 3 years of maintenance support.

health professionals
Photo by Luis Melendez on Unsplash

This was a benefit we hadn’t expected but appreciated that Tesla was acknowledging the hard work the health professionals are doing right now. Well, done Elon and Tesla.

So, over the next 3 weeks we worked out financing, provided through tesla, trade-in, also through Tesla, and delivery. 

Delivery Day

So, the day came, and I had taken the day off work as this was one thing I was not going to miss. 

Both my wife and I went to the delivery center, a non-descript warehouse that had been set up with a waiting area and all the vehicles being delivered. The warehouse was full.  

Tesla delivery centre
Brisbane Delivery centre

It seemed we were the first customers of the day. On our arrival, we were greeted by a lovely Tesla employee. They promptly had us sign the final documents. 

Once this was complete, they pointed out the new vehicle and said we could take as much time as we needed to look over the vehicle, ask questions and get advice. 

Model 3
The new car

We took photos and couldn’t wipe the smiles of our faces. We spent a good 20 minutes just looking over the car to make sure nothing obvious was wrong or missing. 

Collection day
Delivery day
Inside Tesla

The car was perfect. 

MOdel 3 Shell

No panel alignment issues, no blemishes on paint or interior. 

The car was glistening and perfect. 

The quality of these vehicles is just incredible. 

One thing that you never get used to is the quietness of the vehicle. 

It is sneaky quiet. 

As we drove out of the delivery center my smile grew wider and wider.

This is the car I had been dreaming of owning for over 5 years. It was a pipe dream that now was a reality. 

We slowly worked our way out of the delivery center and onto the freeway where I put my foot down and felt the sheer excitement of the vehicle as it hurtled down the road. This vehicle is something else. 

We have driven the car over the last week and have been amazed at its drivability and features. 

It is a generational step forward and has just reinforced the need for everyone to take this leap. 

I am sure there are positives and negatives to this decision, and we will discover these as we move into the future. 

But I have dreamed of this moment for over 5 years and now that it is here it is has exceeded my expectations. 

Looking forward

Master plan realised – Tesla Model 3, I look forward to bringing you with me as we discover the ins and outs of this new reality I find myself experiencing. 

My family and I have achieved a goal we set many years ago as the last step to completing my original master plan. 

Time to reset the plan and start again and see what comes next. 

Hope you will come along with me on this journey and we can discover things together. 

Dave 

David McCann
David McCann

EV-HQ founder, passionate about sharing the passion for Tesla and Electric Vehicles everywhere.

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Master Plan Realised – Tesla PowerWall 2

Powerwall 2
Powerwall 2

Master plan realised

Master Plan Realised – Tesla PowerWall 2, Self-sufficiency is key to a sustainable future. This last week has seen a massive step forward for my household, and reduction of our environmental footprint with the realisation of our master plan.

I finally have a Tesla………………………………………. Powerwall 2

Over the last number of years, just like Elon Musk, I have been working towards a master plan. 

That plan was conceived many years ago when I became aware of Tesla and their amazing vehicles. 

I had always loved driving and enjoyed certain vehicles over my lifetime, most notably the original Mini that I owned as my first car. 

When I first took a test drive in a tesla all those years ago, I understood I knew that this was the vehicle I wanted to own. 

Now I will be honest back then it was all about the cars, but since that time I have come to realise that the vehicles are a means to help reduce my environmental impact on the planet. 

So, I created my master plan. 

Master Plan

The plan was simple

  1. Install solar panels. 
  2. Install home battery to capture solar power and use power for home.
  3. Buy an Electric vehicle

Sometimes the best plans are the simplest. Focused and clean.

I have stayed true to the plan over the years and finally, the benefits are now being realised. 

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Step 1 – Install Solar panel 

Originally, we installed solar panels many years ago and at the time they worked well but they just were not enough to help with the current needs of our house. Especially if you consider the needs by the time, we were able to afford an Electric vehicle.

So, we replaced our panels about 4 years ago and installed 5.5 kw solar system with Solohart. They provided a premium service, fantastic quality, and price. The solar panels have done extremely well over that time frame producing more than enough power for our home. I regularly maintain them and keep them clean of debris and dust.

Solar panels
My Rooftop Solar Panels

As with any solar system they operate only in daylight or when the sun is shining. We have had several blackouts over the years, and it has been frustrating not to have any back up of power during these times. 

Step 2 – Install home battery 

The introduction of the Tesla Powerwall 2 has always been something we had planned when the price became more reasonable. It turns out that in the years since I made the plan the price had gone up, so the battery was not viable. 

The price jump occurred as Model 3 production was hitting its ramp and having challenges. So, the delay of the battery was to be expected. 

In more recent years several power companies in Australia have been making it easier to afford home battery storage. 

Thanks to the community

Whilst listening to the Phantom Lane Four podcast at the end of 2020 (a fantastic group of passionate Tesla /EV fans) (@Teslagong, @TeslaTom, @DrSallyL, @SydEv)I noted they mentioned AGL and their current deals with Tesla Powerwall 2 for the home. 

Phantom lane four
Image courtesy of Phantom Lane four Twitter

So, I investigated and found that it is much easier to have a Battery installed than it was just a short number of years before. 

I proceeded with the Powerwall 2, and it is with such satisfaction that I am now a proud self-sufficient PowerStation. Of course when the sun doesn’t shine we have to pull from the grid but otherwise happy customer.

Installation

Master Plan Realised – Tesla PowerWall 2, The installation took 1 full day to accommodate not only the battery but also the integration to the current solar and house power board.

The battery is the standard Powerwall 2 configuration with a 13.5kw size battery, a small footprint, and the usual isolation switches for safety. It has been mounted on an external wall of my Garage and looks incredible. 

Powerwall2
My Powerwall 2 installed

The profile of the power wall is smaller than expected and the glowing green light adds to the awesome ness and design.

The Powerwall 2 was not the only thing installed. Tesla also provides a Power box to manage the flow of Electricity from the Powerwall 2 to the main grid and house.

In true Tesla Style the powerboat is just as gorgeous as all their other products.

Powerbox
Tesla Powerbox

To know that it is helping bring about better power consumption for my family and we are reducing our climate footprint brings a massive smile to my face.

Since the Powerwall 2 installation last week, we have seen incredible power management. Not only is it filling up to full capacity daily, but it is helping to keep our power from the grid to almost nothing overnight.

powerwall breakdown
1st week with Powerwall2

There is no doubt in my mind that this is the way forward for all new builds, old builds, and anything in-between. 

It will be a game-changer for the future and will give the choice for those to help do their part to assist with the reduction of emissions into the environment. 

Personally, I have not been able to wipe the smile off my face. Step 2 o the master plan is finally complete. Now on to step 3.

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Step 3 – Buy an electric car

Well, this last step of owning an electric vehicle has been the main driver for me to achieve the first two steps.

Of course, I am passionate about helping the environment, but no one said it couldn’t be fun doing it. 

This step is the one that will truly feel like we are moving into the future. 

I have made no secret of the fact that a Tesla is the car for me.

A vehicle that can do long distance and be family orientated whilst scratching the techno nerd itch I have had for many years. 

It has been a challenge to run the EV-HQ.com website, and Blog, and not own an electric vehicle.  

Well, that ends now

I have been keeping a secret from my followers, my family, and friends. 

We are now the proud owners of a Tesla Model 3 Standard Range plus

Model 3
Model 3 Standard Range Plus

Check out my blog about the Tesla and how it came to be ours – Live now

6 Years in the making

Master Plan Realised – Tesla PowerWall 2, Tesla Model 3 and it started with the Solar panels and an idea.

I cannot wipe the smile of my face. 

To achieve the master plan after 6 years just demonstrates, the drive, passion and determination that I and anyone can achieve.

It has not been easy, and we have had to make some big choices. But we planned, budgeted, and had a bit of luck and timing that assisted us to be able to complete the Master plan set out all those years ago. 

I cannot say how proud I am of achieving the this goal and I hope you enjoy reading my blogs about the Powerwall 2 and the Tesla into the future.

It does not mean that I will forget the great other vehicles starting to hit the market. There is so much great activity from the EV market place starting to ramp up globally this is just the beginning. 

Thanks for being here for the journey and I hope we have greater adventures to share ahead.

Dave 

David McCann
David McCann

EV-HQ founder, passionate about sharing the passion for Tesla and Electric Vehicles everywhere.

DAVE’S Blog posts

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Tesla Stock Split – Part 5

(Dave’s Journey to owning a Tesla) 

tesla bespoke wheel
Photo by Tommy van Kessel 🤙 on Unsplash

Tesla Stock Split- Part 5 is the next part of the Dave’s Journey to owning a Tesla. 

Disclaimer – This information is my own opinion. I am not a financial advisor or affiliated with any financial institution. 

Part 3 – The Entrepreneur, and Part 4 – Taking my own advice, discussed the ability to grow your income through innovation of thought and applying fresh ideas to already existing problems and finding a way to monetize that approach. 

Let’s talk about the stock split!

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Stock Split

In the last week we have had a significant pivot in the way Tesla is looking at their future growth. The news which was reported by Tesla themselves outlined the Tesla Stock Split of 1:5

This stock split is not unprecedented in the world of stocks but for the average person who has not been a shareholder or involved in any company that they held shares for, this is an interesting thing to do.

The BareFoot Investor as part of their strategy, also talk’s about investing to grow wealth over time. 

The Tesla stock split is interesting by the fact that it allows those of us who are average people with little ability to spent thousands of dollars on stocks and investing, we now have the opportunity to invest just a couple of hundred dollars and become part of something we have a passion for.

For a lot of people investing in a company that aligns with their values, to help improve the environment and increase the ability for the world to transition to renewables is now reachable. 

So, what does 1:5 share split mean? 

If you as a shareholder currently with Tesla and you have a full share, then as of the 28th August you will end up owning 5 shares on the 31st August. 

The total of those 5 shares will be the same as the original share. For example, if your original share was $1500 before the stock split. After the split you will have 5 shares valued at $300 each, $1500 in total. 

So why is this Part 6 Tesla stock split part of the Dave’s journey to owning a Tesla? 

The share market is a way to grow wealth so long as you listen to professional advice, and based on your assessment of your own financial position and risks, you proceed with caution while being well informed. 

As I have said I am no financial wiz, but this is one-way I can grow wealth to achieve my goals while staying true to my values.

This is an opportunity if you like Tesla( https://www.tesla.com/en_au/ add link ) and you wish to be part of the retail investor environment, want to back a company that aligns with your values on the environment and own a cool car and technological products then look at this opportunity. 

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If you don’t have the money, then don’t do it! 

If you have financial difficulty this will not get you out of trouble. 

Look for opportunities that you are happy to accept the risk (loss) on. 

Investing is risky and can be fraught with peril if you don’t do your homework. 

But for me this is something I have long been working towards and I am going to try and take advantage of the opportunity before me. 

passion led us here, looking down at the words and shoes
Photo by Ian Schneider on Unsplash

I believe Tesla has a long way to go and has road map that doesn’t end with the cyber truck.

I am looking to the future and seeing that I have an opportunity to get one step closer to the end goal of owning a Tesla and helping to assist the world to transition to sustainable energy and transport. That is the ultimate goal.

Dave 

DAVE’S Blog posts

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Part 4 – Taking my own advice

(Dave’s Journey to owning a Tesla)

Red model 3
Photo by Vlad Tchompalov on Unsplash

Welcome to Part 4 – Taking my own advice, just like parts 1-3 of Dave’s Journey to Owning a Tesla we have discussed the ins and outs of why I want to own a Tesla.

I offered up some good tips and ideas on how we can find ways to earn more money to grow our fund for Tesla. 

In Part 4 Taking my own advice, I start to explain some of the ways I have started to accumulate the funds that can help to grow my Tesla fund. 

Of course, like any discussion that starts when you are wanting to prepare to change the way your money is divided up watch fortnight or month depending on when you are paid, you have to discuss it with your partner. 

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Share the passion

In my case I sat down with my wife like we do regularly and worked through how we might put money aside to start the ability to grow our saving for a car. 

This conversation focused on finding flexibility in our budget to allow for a separate amount of money focused on delivering a car down the track. 

Barefoot process helps

As I have mentioned before we follow the Barefoot investor formula. One of the benefits to this is we have a very clear picture of where our money is distributed and where we might be able to make subtle changes to allow for this money. 

We found an amount that both of us were comfortable with and we started to plan ahead. 

But of course, this was never going to get a Tesla in the next couple of years. So, I started to think like an Entrepreneur as I outlined in Part 3. 

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Think like an Entrepreneur

As you are well aware, I have created over the last 18 months a website and following on Twitter of people with like-minded ideas. We are passionate about Tesla and the electric vehicle future that is now in full transition. 

So, I thought how can I share this passion and generate small financial benefit in doing this. I had recently noticed a couple of people I follow had started their own merchandise store. 

So, I decided to do the same. 

Merchandise

It took me a number of weeks looking for the right way to create the merchandise shop. 

Many hours were spent putting together my store and the imagery of the store. But what took the longest was the selection of using the Spreadshirt site. 

There are literally hundreds of these stores online and of course not all are equal. I chose spreadshirt based upon a recommendation. So far, they have been a simple yet effective way of planning my store. 

The other key part was to allow it become part of my website not just another link but embedded. 

Spreadshirt does all of this with Word press which my website is hosted by and allows it to be a store on a page. 

It was always my plan to give a good choice of products for people to access. I will continue to review and update this store over time. I hope it will allow others to enjoy and share with me and my passion for electric vehicles. 

Dave 

DAVE’S Blog posts

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PART 3 – The Entrepreneur

Dave’s Journey to owning Tesla

man looking at a wall with ideas
Image by Pexels from Pixabay 

Welcome back to Part 3 – The Entrepreneur, Daves Journey to owning a Tesla.

Part 1 and Part 2 we have discussed strategies about money management and the beginning of the journey, now let’s talk about the Part 3 – The Entrepeneur.

Part 3 – The Entrepreneur- Elon musk is by his own admission an entrepreneur. His beginnings with his company X (PAYPAL) and continued with Tesla, SpaceX, Neurolink, The Boring Company and beyond. 

This passion to discover new and exciting things has driven his ability to create industry leading companies out of nothing. He has had great people who have supported him along the way to achieve his current status. 

This thinking can allow us to work towards generating enough capital to purchase a Tesla.

We need to think like an Entrepreneur. 

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Holidays help you think!

man looking out to a lake
Image by Free-Photos from Pixabay 

I recently went on holidays and whilst there I met a young man who had started his own business. He looked at a simple skill that was taught to him by his aunt and found a way to make money from that simple idea. 

During this time he explained that he has also developed new skills that have helped to grow his understanding of the opportunities that before where unknown.

It helped him grow his confidence, passion for running a business.

This simple conversation allowed me to think about opportunities that may be present to assist with owning a Tesla sooner. 

Think like an Entrepreneur

To think like an entrepreneur means to look at the world differently. To take stock of what you believe as the norm and see if there are ways to put a different spin on it. It is to find solutions to issues that already exist. Review what you do and see if you can find a simpler way to execute on it. 

Part 3 – The entrepreneur is looking to help to determine what simple principles are in this thinking.  

  • Look for opportunity – new and fresh ideas
  • Think outside of the box
  • Try to find a new way to do old things
  • Review what you do and see if you can find a simpler way to execute on it. 
  • Follow your passions

How to execute on these above ideas. 

Look for opportunities – new and fresh ideas
  • Like the young man, he saw an opportunity by being taught how to create candles that his aunt showed him, he then took that and turned it into a business. 
    • Teach yourself new things 
    • Identify if there is a need for this new skill in the world around you 
    • Speak to people around you to see if your idea makes sense and has merit. 
    • Write it down 
    • Break it down into cost versus, output and return. 
Think outside the box
  • Sometimes we do daily tasks that take no attention to complete. These have been things we have learned or picked up along the way. 
    • Pay attention to your daily tasks. 
    • Think about what you are doing and see if there is a better way. 
    • Don’t be afraid to experiment
    • Failing is ok as this lets us learn and find another way. 
Try to find a new way to do old things
  • The old saying that “we have always done it that way”, is exactly what you want to find with this one. 
    • When you think about that statement it’s time to review what you are doing. 
    • Break down the process, step by step, and find fresh ways to manage the situation 
    • Look to technology and see if technology can help the issue at hand
    • Look to other processes and find comparisons that allow for simplified ways of managing the issues.
Review what you do and see if you can find a simpler way to execute on it. 
  • Keep it simple Stupid or the KISS principle has been a corner stone of my thinking for a while. This is the type of thinking that may find opportunities for you to execute upon. 
    • Every day we do things regularly both at home at work and beyond. These are the areas you can look for opportunity.
    • Pay attention to what you are doing
      • driving and the things you do in those transitional stages between events 
      • walking 
      • cleaning the house 
      • Etc. 
Follow your passions
  • Last, but far from least it is imperative to follow your passions. To follow your passion allows you to stay focused when times get tough or obstacles get in the way. By thinking like an entrepreneur gives you the courage to find solutions to issues and problems and continually move forward.  
    • Look to your hobbies
    • Review the things that you enjoy watching on social media
    • Look at your Pinterest and see what you have saved 
    • Review your twitter feed to see who you like and follow 
    • Talk with friends and family and ask what they see as your passions
    • Be true to yourself because if you aren’t driven by it you will not enjoy the rewards
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tesla model 3
Image courtesy of Tesla

I am passionate about Tesla and the possibilities that Electric vehicles and non-polluting renewable energies can provide. 

I will be taking my own advice and looking for opportunities in what and how I do things to find the idea that just might help to grow my ability to step into my own Tesla. 

Part 3 – The Entrepreneur, Don’t lose your ability to have new and fresh ideas, don’t ever feel that an idea is not good enough. Remember the old saying one person’s trash is another person’s treasure. This is the quintessential entrepreneur thinking. 

Dave.  

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Part 2 – The Tesla Saving Strategy

Dave’s Journey to owning a Tesla

Welcome back to Part 2 – The Saving Strategy , Dave’s Journey to Owning a Tesla.

endless road - Part 2 - The Tesla Saving Strategy
Photo by Simon Migaj on Pexels.com

Last time in Part 1 – Lets Begin I wrote about the path forward, looking at how I can gain enough capital to make the loan amount for my Tesla much more palatable. 

Over the years I have been the typical Aussie, looking for a quick win to make a few bucks. 

But as most people when you’re young you’re not really any good at finances. The misconception is that it’s easy. 

I tried to save in jam jars, I tried to work two jobs, I tried working more shifts, I even went to financial experts (so called) for advice on investing which ultimately lead to more debt and harder times ahead. 

On the upside I have a house, a job and a current gas car, so all is not lost. 

In recent years I have become more interested in the concept of making my money work for me, not I for it. In this vein I started to look at different strategies on how to minimize my costs and improve my capital. 

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Why a Tesla?

I have been a fan of Tesla now for many years as some of you already know. In that time I have bored my family to death about the possibilities the car and mission provide. I have spoken at length about Elon Musk and the Tesla products. I have written many blog posts about the same. So why do I want to own one of the most expensive electric cars in the world and not just settle for something cheaper. 

Simple, I am a tech nut, I love gizmos and gadget, I love to pull things apart to better understand how they work and then try and put them back together, not that I would do that to my Tesla. 

I am an early adopter of new tech and love to see what the next frontier looks like. With this in mind Tesla ticked all the boxes that drive my curiosity and passions. They are a tech company first and foremost. They strive to do better for the environment, and they do it with one sole purpose to transition the world to sustainable energy and transport. 

It is because of this that I am a Tesla fan. No doubt. So, when making the decision to start my journey to owning a Tesla it was not a hard decision. 

I want to share what I have learned in the hope that others may find a way to do the same. 

In Australia owning a Tesla is not a cheap experience. We do not have the luxury of being able to buy a Tesla for $40000 dollars as they do in USA. So, we have to plan and strategize to be able to afford them. It can take years. This is why I am writing down my ideas and processes so others can come along with me. 

Different ideas!!!

I came across a strategy online about how you use a credit card and then at the end of every month you pay that down so on and so forth. This was my first attempt at getting ahead. That failed. All it did was increase my debt and caused more tight times ahead. So, I started to read and search for ways to maximise my saving s by cutting costs and reducing incendiary expenses. That’s when I found a book that would start my family on the road to better financial independence. 

Bare Foot Investor……

man in field sunrise- Part 2 - The Tesla Saving Strategy
Image by Pexels from Pixabay 

Scott Pape is an aussie finance guy. But unlike the stiff upper lip and suited up bank guys he is a guy who lives on a farm with his family and dog. He talks about investing and money management in simple easy to follow terms, and that’s right up my alley. 

He is an aussie through and through. “The Barefoot Investor” book is one of the most practical money management books that I have read in years. It outlines simple to follow, step by step instructions to set yourself up for better financial times ahead. 

His advice is not hard to follow, or difficult to comprehend, it is straight talking simple information and steps out how to help get your finances in order. 

Not only that he gives tangible instructions on how to manage your money now and into the future. 

So, I dived into his book and read it cover to cover in a short time. When reading it with my wife and I speaking at length about the strategies and the practical steps he suggests. They all made much more sense than anything I had read before. 

So, we decided to do it.

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My Path

It has been 2 years since that decision. 

The last couple of years have thrown a couple of curve balls at my family and we have kept our heads above water with the support of the Bare foot investor process. Do we still have debt? Yes. Do we still have a mortgage to pay? Of course. Do we have a way forward to paying down the debt? Absolutely, because we have an understanding of what to do now, whereas before we never had a strategy that worked?

And that’s the trick. It is not all about making money in 5 mins, it’s about being flexible to anything life throws at you. 

One of the cores to his strategy is the idea that talking about money regularly allows for better understanding of the process and also allows for deeper knowledge of what you are doing with and for your situation. 

He introduces bare foot dinner date nights every week at the beginning and then monthly. During the date nights you read a chapter of the book which outlines a specific process, and work through the steps.  

Now I know what you’re thinking, that this sounds like smoke and mirrors, but I am telling you as someone who needed financial guidance and who used this process to effect, it works. 

But with all things you have to be disciplined to make it work. 

Buckets and accounts

piles of coins and a jam jar - Part 2 - The Tesla Saving Strategy
Image by Nattanan Kanchanaprat from Pixabay

Part 2 – The Tesla Saving Strategy

He talks about different buckets for your money, 

  • Blow
    • Your money, pay to pay, to do with what you want. 
  • Grow
    • Savings that allow you to save for retirement and big events. 
  • Mojo
    • Emergency back up money to replace your credit card bill. 

Reference “The bare foot investor” 2018, Scott Pape.

He then talks about setting up different bank accounts including:

  • Smile – (10 % of wage after expenses accounted for)
    • Saving for big things like holidays and cars. 
  • Splurge- (10 % of wage after expenses accounted for)
    • Money to enjoy between pays, everyone needs some flash money. 
  • Fire Extinguisher (20% 0f wage after expenses accounted for)
    • Increase your ability to pay down debt

Reference “The bare foot investor” 2018, Scott Pape.

Like I said his strategy is simple yet effective. 

So, with this strategy I am confident that within the next couple of years I might just be able to get enough money in my Smile account to be able to afford a Tesla. 

Scott Pape also looks at Superannuation, Investing and saving money on bank accounts and the like. This book has helped not only me, but many others get financially stable and work towards a better financial future. 

Beginning the journey

As I start part 2 – the Tesla Saving strategy, I know I will ebb and flow with the tide to get a big enough deposit to make it work. 

Life is tumultuous, dynamic and stressful but ultimately if you can stay the course, manage what you have, the best you know how and look at the goals you want to reach anything is possible. 

Thanks to the barefoot investor, Scott Pape, for writing the book and allowing me to grow my understanding of simple money management. 

I know somewhere in the coming years I will be driving my Tesla and knowing that my family and I have worked hard to make a dream a reality. It will also mean I can enjoy doing my part to help the environment and the future of our children. 

Dave

Disclaimer

Hope you enjoyed the ideas and within the Part 2 – The Tesla Saving Strategy and hope that this helps to give some ideas on how it is possible. All information within this blog relating to Scott Cape is my own thought sea feelings. I have referenced his book and have not been sponsored in any way.

DAVE’S Blog posts

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Part 1 -Dave’s Journey to owning a Tesla

Lets’ Begin

Dirt road and the word start
Image by Gerd Altmann from Pixabay 

Part 1 -Dave’s Journey to owning a Tesla, I started this Website and Blog as a way to be part of something greater than myself.

What I found was a group of people just as passionate. Passionate about improving the environment and enjoying the cars whilst they do it. 

I have written this blog for over 18 months now. During that time I have had a second goal that I want to achieve. Owning my own Tesla. 

Tesla 

tesla model 3
Image courtesy of Tesla.com

Tesla Mission is the transition, of the world, to sustainable energy and transport. This mission aligns with my passion for all things electric cars and improving the future for our kids and generations beyond. 

But as many would know owning a Tesla in Australia is not so easy. The cost alone is high and there are too few incentives provided by the government. 

However, I am not swayed!

My passion to own a car that does not pollute when driven, has safety and technology at the core and can drive for over 500 km’s on a single charge just inspires me to begin the journey to ownership.

It is truly the iPhone of the motor vehicle world. 

Dave’s Journey to owning a Tesla

road with words follow your passion

So, my original plan was to get solar panels, then, a battery, followed by the Tesla. I have so far had solar installed a number of years ago and have not quite had the opportunity to get the battery installed. 

But if I am to own a Tesla, I need to start to put the pennies away.  

So, I am writing this new series to outline my process of getting there. 

It will be my mission to update you with my strategies, ideas, and outcomes, regarding how I am going with saving for a Tesla. 

By saving some money, over time it will allow me to grow a big enough deposit that the loan amount and repayments are manageable. Then we can look at the best loans.

To own the car sooner rather than later would be ideal, so I will try different strategies of maximising money. Any opportunity that i can earn more money through being thrifty or odd jobs I will write about here.

The goal is to show, and explain, how it is possible by showing others that it is, possible to own a car that could and has changed the future. 

My Starting Balance 

My starting balance is zero ($0) dollars which means that I am starting where most people start, at the beginning of a journey not knowing what’s to come, not sure where it will take me but excited by the possibilities that I have before me. 

A few months ago I had a response from Elon Musk around the prices in Australia. Since then a lot in the world has changed. So I have decided to work towards my goal.

I know the car I want, it is a Model 3 Long range, Red with Full Self Driving. It totals currently at AUD $113,000 drive away. 

break down of price for Long range model 3
Courtesy of Tesla.com

The performance model 3 was considered but due to price and the fact that I live in Australia and distance is king, I decided that the long range still has all the bells and whistles I need. 

Of course, I do like the base model with no bells and whistles that costs $88,000 drive away and most likely will be the one I end up with as the price hopefully will be more manageable. 

(insert image)

breakdown of price model 3 standard range plus
Courtesy of Tesla.com

But ultimately, I want a Tesla, sure there are other electric cars I could choose, and they are priced similar or a little lower than the Tesla however I have looked at them all and my heart is still set on a Tesla. 

So, I hope you find my blogs interesting, inspiring, practical and helpful. This is a journey we can share and I hope you follow along.

Part 1 – Dave’s Journey to owning a Tesla is my ideas and thoughts, I am not providing any financial advice or making any suggestion that I am an expert, I am just sharing my experience and passion for working towards a goal of mine.

So, thanks for sticking with me so far. The best is yet to come. 

Back to the beginning of where all good ideas start, an idea, a promise of what’s to come with savings, our passion and our love for Tesla and electric vehicles together we can achieve great things.  

Dave