Keep the motorbike or sell the motorbike?

 Time for noom life skills and options papers.

My question is: we own a road legal trail bike that I bought off my Dad's estate when he passed away. Should we keep it or sell it?

Here's the evidence I have in favor of a "yes - keep it".

  • Toby wants to learn to ride it 
  • Angela wants to ride it 
  • COVID has stopped anyone riding it recently
  • It's my Dad's 
  • It's not depreciating too fast 
  • We'll never replace it
  • We can always sell it next year 

And here's the evidence I have supporting a "no - sell it":

  • No one has ridden it for many months
  • Registration cost 
  • Insurance cost 
  • Maintenance cost and time 
  • Can't put the car in the garage 
  • Get cash

Now, assign a weight to each pro and con, and tally up the pros of saying "yes" and compare that to the cons of saying "yes".

How do the weights compare? Did you arrive at a decision? Did you find the process or the result more valuable? 

Many of the pros and cons are subjective, and I'd weigh them differently to others in my family.

But, selling it is forever whereas keeping it just defers the decision for 6-12 months. That's probably the critical difference. 

Could mitigate some of those cons by putting the registration and insurance on hold, too. 

I can repeat this exercise with a four way matrix of pros/cons vs yes/no:

 

Pro

 Con

 Keep it

 

  • Toby wants to learn to ride it 
  • Angela wants to ride it 
  • COVID has stopped anyone riding it recently
  • It's my Dad's 
  • It's not depreciating too fast 

 

  • No one has ridden it for many months
  • Registration cost 
  • Insurance cost 
  • Maintenance cost and time 

 Sell it

 

  • Can put the car in the garage 
  • Can get cash

 

  • We'll never replace it
  • We can always sell it next year 

As you create your lists and/or assign values to pros and cons, it forces you to dig a little deeper and ask yourself why something is a pro or a con, or why it means or doesn't mean so much to you. #NoomNerdsLoveDigging

This #Psych Trick helps you:

1. Slow down (and hold your horses)

2. Pay attention

3. Think rationally, because you're a nerd at heart

4. Feel fully #InYourFeelings

5. Reflect #SelfAwareness

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