When we tell people that we're less than a year (hopefully) from paying off the house & therefore being completely out of debt, they say something along those same lines--about envying our situation. I know how they feel, because we have friends who are out of debt completely too. Anybody who knows me knows that this is one of my top goals in life.

 

What a lot of those folks don't realize is how much sacrifice is required. Fewer and less-expensive vacations, not eating out multiple times per week, learning to love Beef flavored Ramen noodles (:lol2:), driving crappier cars, not having as spacious a home, etc.

 

I honestly think half of the battle, if not more than half, is learning to be content...or at least having the ability to regularly tell yourself, "No."

 

I was in your shoes not so long ago. And when I paid that car off, as you are about to do, I continued driving it. I'm still driving it ten years later. :lol2:

 

If I could have only convinced my wife years ago, the position we could be in now makes me sick to think about. :cry:

 

Many are trying so hard to keep up with Jones, but don't realize the Jones are broke. :banana:

Last month was he biggest new car sales month since about 2008.

 

Average new car price in 2013 is about $31k.

 

I'd consider myself in a pretty favorable financial position and I would hate to have a cay payment like that. 60 months around $570 with 4% interest. That's nearly a house payment for some.

I'd consider myself in a pretty favorable financial position and I would hate to have a cay payment like that. 60 months around $570 with 4% interest. That's nearly a house payment for some.

 

Wholeheartedly agree.

 

However, with strong credit you're probably getting rates anywhere from 0% to 2%.

Wholeheartedly agree.

 

However, with strong credit you're probably getting rates anywhere from 0% to 2%.

 

Even at that you are still looking at $500 plus. I've quoted people insurance before and they say I can't afford that I have a $600 truck payment every month. :ohbrother:

 

 

I've known a few people in the car business and it's amazing the kind of deals they get people into sometimes.

Why do dealers want you to put cash down on a vehicle? How does it impact their profit? The profit is simply selling price minus cost, right? So why do they all want cash down?

I'd consider myself in a pretty favorable financial position and I would hate to have a cay payment like that. 60 months around $570 with 4% interest. That's nearly a house payment for some.

 

Save $570 a month for a year and you could pay cash for a really nice used car, that someone else took a beating on the depreciation.

Edited September 3, 201313 yr by Randy Parker

You're absolutely correct it's a choice. It's a choice that has to be made if they want to have any real shot at success in life. You can't accomplish jack without a college degree these days (or trade school).

 

I need to introduce you to my neighbor, and let you say that. He didnt graduate HS, yet makes net of at least 200K a year with his trucking company, maybe more.

A few things on this subject.

 

1. On car loans you can get 0% interest loans from Ford and GM right now on a 60 month finance. Free loan. But I agree with Clyde most people should lease that aren't willing to save to buy.

 

2. I will never buy a house as long as I'm single and having fun. Rent allows me to move whenever for my career and I always find good deals. Plus matience is on the person I'm renting from.

 

3. There is no reason any kid should finance their entire college education. Did I take out a little yes I did . But I worked 40 hours a week and went to school full time and graduated in 4.5 years . The kids who go to school and barley work are setting themself up for problems. I graduated NKU in 2005 with little problems. Was it hard , very much so but I got it done.

 

 

I try to minimize debt and save a lot. But I also worked to have a little fun. So I like to have a nice car so I lease and get cheap payments. I'm a single guy without a mortgage and no credit card debt. I've never understood the need to buy a home when you have no family. A kid graduating college shouldn't even worry about buying a home.

Gave my little brother my Tahoe that I had paid off a few years ago and told him to save his money for college. I took a car from my grandmother that was no longer being driven.

 

I'm now considering purchasing a new ride for myself. My wife's car is paid off and I'm hoping to buy something cash. I'm odd about purchases though, I won't buy something that I don't like. I can't make myself spend 2 or 3 thousand on a car that I don't want.

 

What's everyone's opinion on high mileage cars ? I've been looking at SUV's and trucks in the 70 - 90 thousand mile range. Price range is around 17000 dollars.

Gave my little brother my Tahoe that I had paid off a few years ago and told him to save his money for college. I took a car from my grandmother that was no longer being driven.

 

I'm now considering purchasing a new ride for myself. My wife's car is paid off and I'm hoping to buy something cash. I'm odd about purchases though, I won't buy something that I don't like. I can't make myself spend 2 or 3 thousand on a car that I don't want.

 

What's everyone's opinion on high mileage cars ? I've been looking at SUV's and trucks in the 70 - 90 thousand mile range. Price range is around 17000 dollars.

I just bought a 2005 Tundra that ad 77,000 miles on it. Paid $18,900. Should get well over 200,000 out of it.

I need to introduce you to my neighbor, and let you say that. He didnt graduate HS, yet makes net of at least 200K a year with his trucking company, maybe more.

 

"The Millionaire Next Door". Great book!

I need to introduce you to my neighbor, and let you say that. He didnt graduate HS, yet makes net of at least 200K a year with his trucking company, maybe more.

 

An exception does not disprove the rule.

In my opinion, there is almost nothing greater one can do for one's future than to make sure and keep your nose to the grindstone to make sure you get a scholarship. And if you don't get one to cover everything, bust your hump to get out there and apply for grants or third party scholarships. I didn't pay one red cent for college. Neither did my wife. A few people I know actually MADE money when all was said and done. I think for the majority of people, this can be a realistic expectation if they put in the work.

:thumb:

An exception does not disprove the rule.

 

Sure it does. Hard work and effort can get you anywhere you want to go.

I graduated a long time ago but to give a perspective of a young person. My niece is 22 years old. She graduated high school and entered Cincinnati State right away. She worked at Target at night and weekends while going to school. Cin State finds jobs for their students and you go to school for a couple months and then work for a couple months. When she graduated, the company she was co-oping at hired her full time. She then took her associates degree and enrolled at Univ of Cin and her company pays 90% tuition reimbursement. She takes classes at night. And she is making about $40k on her associates degree.

 

And I haven't had a car payment in 5 years. I bought a 1998 f150 with $125k miles in 2009 for $4500 cash and still drive it today with 190k miles and have only put tires on it and a new starter. My wife bought a brand new Trailblazer in 2004 and we took a 0% interest 5 year loan. Paid it off in 2008 and traded it straight up for a 2005 mini van same year and she still drives. It has 125k miles.