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Cars and Transportation
Reply to "My new car payment is $1,000"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I never understand people like op. I’m a nanny and if I can manage my life on my limited salary so should op. I bought a car cash with savings. Instead of making payments, once I bought the new car, I set aside $250/month for when I’d need my next car. I’m buying a new car this month (10 years later) with cash. I budget. I coupon. I save. I’m so frugal. I feel like the more money you have, the more wasteful you become. [/quote] Trapping cash into a new car is a stupid idea. You can do more with money by investing it instead of tying it up in a depreciating asset. The saving $350 a month for 10 years just to a buy a new car only makes sense for someone like you in your financial condition. Doesnt make any sense for folks with higher incomes. [/quote] As opposed to investing, which will always go up and never go down? [/quote]
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