Skip to main content

Reply to "What has been your money epiphany?"

That car payments are forever, yes forever so I never pay interest on a car loan or any other loan. Auto  transfer money from checking to savings, and auto payment from savings. Never stop the transfer from checking to savings drive your car a couple of extra years and you have cash for your new ride.

I have expanded this to other areas like saving the money for all the extended warranty offers into the same account.

Any time I have a time payment it always come out of the savings account and I increase the amount I put into savings. I now pay cash for everything unless they have some zero interest offer.

The savings account is now a brokerage account earning a very good return from the NASDEQ, a REIT, Tesla, etc. It is doing so well I almost don't have to put more money into it and I can still pay cash for everything.

×
×
×
×