Teaching you to embrace today while making yourself a millionaire!

I wish I would have understood how easy it is to become a millionaire by starting to save small amounts of money when I was younger...

I feel compelled to share the simple concepts you can apply today....


10 November 2008

Real Life Decisions -

So we talked about budgeting and making good choices to not over spend. But what about when you have a big purchase to make. Like buying a car. That is not only exciting it is very intimidating. It is one of the most exhausting and tiring experiences you can have.

What can you do to make it a more enjoyable experience as well as not feel like you are being taken advantage of in the process.

Yahoo just had an article on the 5 dumbest things you can do while buying a car.

A few other tips from my own experience.

1. Figure out exactly what you want to spend prior shopping. Do not extend the payments longer to afford a nicer car - that is their biggest trick - "how much do you want to spend a month" the question should be "what is the total amount you want to spend". The reason it is bad to add months to your loan - the amount of interest you will pay continues to add up, as soon as you drive the car off the lot - it losses about 20% of it's value and the longer the loan the less freedom you have. A car is to get you from point A to point B safely. Not for a status symbol.

2. Ask the sales person the bottom line price on the car. Tell them you are not spending your day in the dealership. If they can't give you a price that is reasonable go down the street. They all want to sell you a car. The one who keeps you in the dealership the longest waiting while they run back and forth pretending to talk to their manager wins. They will wear you down!!!
Keep control of the situation. You can always go back another day - trust me the cars will still be there. Do not buy under pressure.

3. If buying from a private owner - remember to negotiate. They may come down alittle on the price. Also, make sure you take the car to a mechanic to look it over prior to buying. I personally usually buy used cars because they are a better value. Remember, you lose 20% immediately when buying a new car.

4. Check out Consumer Reports to see if the model you are looking at has any known issues that will potentially cause you problems down the road.

5. Once you make a decision - enjoy the car, have fun and be safe.

Stay tuned.........

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