Monthly Archives: March 2016

But money isn’t the problem..

It’s the manifestation of a spending addiction, or lack of knowledge in budgeting or any other number of root causes we all suffer from. The amount doesn’t matter, it’s about changing a mind set which is the key to debt freedom.

Mark has never given specific investment advice since that is not in his wheelhouse. He keeps it very generic. I don’t agree with him on his stance on ETFs. He think you will trade more with them vs mutual funds and I think he is just plain wrong. I think the reason high income people don’t call in, and there have been a few, is that they might not think they have problems or are too busy or might think lower income people don’t want to hear their problems. Who wants to hear about someone making $600K and being 1.2M in debt?

It’s not about the sale price, it’s about the insurance

Find out what you can insure that new car for, in case of theft. What happens if you borrow $25,000 to buy a new car and that car is stolen tomorrow, or totalled? What will your insurance pay? They will only pay the replacement value for a *used* 2013 car, so you might get $20,000 back and be sitting there with $5,000 remaining on the loan and no car. Here – you can get payday loans and solve all problems.

(in the state that was once #1 in the country for auto theft ,but not any more)

Everyone I ask keeps using this argument of

new cars losing value so quickly but it really isn;t true. What I am thinking of doing is waiting until like January and getting a 2013 leftover. And if I can find it, and I will look until I do, even if I have to go to another city, is get one that only has automatic transmission and air conditioning because I really do not need anything else. When you compare the prices of a basic 2013 model with only those few features, compared to the same car that is 2-3 years old and LOADED with options, which most of them are, the price of that used car is WAY higher. I bought several new cars when I was younger and this was always the case, the brand new leftover model with the few features I needed and wanted was way cheaper than the used model with more options.

So I figure, why not start out with zero miles and a full warranty and get it for less.

I know a girl who within the last few days, got a brand new Nissan Versa with only automatic transmission, for $13,000. This car didn’t even have power locks and windows but she didn’t need all of that and neither do I. I guarantee you if she looked at used ones, they would have had tons of options and would have costed her more.