Home Business/Entreprenuership How to Save for Your First car in 5 Simple steps

How to Save for Your First car in 5 Simple steps

254
0
SHARE

To Save  for a car??? It sounds so simple: If you want to build up your savings, just spend less than you earn.

But while a fourth-grader can do the math on paper, even 40-year-olds can have trouble putting that basic idea into practice.

If you’re trying to save up  for a new car — or a used car that is at least new to you — it helps to have a plan that keeps you disciplined and on schedule if unexpected expenses pop up.

If you’re looking to purchase a vehicle, here’s how to get your finances in order.

If you’re looking to purchase a vehicle, here’s how to get your finances in order.

Step 1: Calculate your desired car payment.

Image result for calculate car

If you don’t want a car loan at all, the answer here is “zero.” Skip to Step 2.

But for those who can’t pay in full or who don’t mind a car payment, start by calculating how much you can afford to pay out each month.

READ  14 Things Successful People Do First Thing every Morning

Make sure you leave some wiggle room for maintenance, such as oil changes or new tires, of course, or any change in insurance costs. While a car payment is perhaps the biggest single expense here, it surely isn’t the only one.

continue in page 2

Prev Page1 of 5Next Page
Use your ← → (arrow) keys to browse through pages

LEAVE A REPLY

Please enter your comment!
Please enter your name here