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Yes, I agree. I am not proposing spending all of your money living it up, but to find a healthy balance. It doesn't have to go in the extreme in either directio
by 20years 8y ago
Yes, I agree. I am not proposing spending all of your money living it up, but to find a healthy balance. It doesn't have to go in the extreme in either direction.
- skookumchuck 8y agoThat's right. For example, an expensive new car isn't much better than a 3 year old used one, and the difference is a big chunk of money to invest. (And also being able to invest money rather than spend it on the interest on car payments.)
- 20years 8y agoThis is a perfect example. I have had the same car for 6 years which I bought used and am hoping to squeeze another 5 out of it. Cars are one of those things I hate spending money on.
- marketgod 8y agoDon't forget to calculate the increasing maintenance cost, gas cost, and risk of using an older car.
- skookumchuck 8y agoIf you buy an American car, the maintenance isn't so bad. The taxes are low on older cars, as well as insurance. The risk is real, there's been excellent progress in crashworthiness.
- marketgod 8y agoIn America maybe? Here the maintenance on a car is insane, Canada.
- 20years 8y agoThis is a good point. So far I have had no maintenance other than oil changes/tune-ups. Once things start breaking down to where I have to spend $$ to keep it going, that is when I will buy a newer used car. I also mainly use it for local around town driving. If I go on a long trip, I rent a car.
- nambit 8y agoThis all depends on how much happiness you derive from an expensive new car. My every day commute is my happy time because of that new car that I enjoy driving. YMMV