When I was in high school, our banker said that more people got in financial trouble over cars than anything else.

I made that mistake with my first car after college.

I didn’t learn any better until I met my wife 30 years later.

She always bought a new car — with cash.

She financed her first car (used) for two years, then made those same payments to a “car” savings account for two more years, until she had enough to buy a newer car for the trade-in plus cash. She financed it for two years and repeated the savings for two more years.

After the third car, she always paid cash whenever she wanted a new car and put projected car payments in the “car” account.

She always had the choice when and whether to buy a new car.

Now, in retirement, she owns a Smart car and fills the tank every three months — 8 gallons. She drives it every day.

William “Bill” Myers, Analyzes all, Programmer, retired. If you learn anything new, find enjoyment, have a new thought, then I’m successful. Photo: 1st article

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