One of THE biggest money mistakes you can make is financing a new car. Just who has tricked us into thinking that the standard way to live is to have one or two nice newer rigs with matching payments? Now don’t get us wrong; there’s nothing necessarily faulty with buying a new vehicle - IF you can afford to pay cash for it.
So this is the simple rule for not squandering your future over vehicles along the way: Only buy as much car as you have the cash to part with. If that is a new car, great. But if you can only afford to pay cash for a ten year old minivan, then be humble enough to accept that.
It’s all about living on way less than you make so you can save for your future. Better to be teased over your faded minivan than keep giving a whole bunch of your money to the bank year after year for something that ends up in a junk yard. Why let the bank take your future from you?
So this is the simple rule for not squandering your future over vehicles along the way: Only buy as much car as you have the cash to part with. If that is a new car, great. But if you can only afford to pay cash for a ten year old minivan, then be humble enough to accept that.
It’s all about living on way less than you make so you can save for your future. Better to be teased over your faded minivan than keep giving a whole bunch of your money to the bank year after year for something that ends up in a junk yard. Why let the bank take your future from you?
RSS Feed
