Never buy a brand new car (especially if your old one is still working)
Oh, the feeling of driving a new car…the smell, the sound of the purring engine. There’s nothing like it! Fast forward a month later, and all you’ll be thinking about is the money you’ve paid and still have to pay for it.
“Don’t ever, ever, ever buy a brand new car; buy pre-owned instead,” Elledge said. “Car dealers try to lure buyers into buying new with low monthly payments that take years to pay off. You’ll never be able to achieve financial freedom from debt if you always have a car payment.” Before buying a new car ask yourself: Can I really afford it? If your finances disagree, comparison shop and try to find a used car that might fit your budget better.
Read also 7 Car Dealer Tricks Used at End-of-Year Sales.
Never go overboard with deals websites
Just like store discounts, the enticing prices on deals websites can turn you into a real shopaholic. You might end up spending more than make only to end up with things you don’t really need.
“Deals websites like Groupon can be a great way to save money, as long as you don’t become addicted,” said Sean Cooper, financial expert and author of “Burn Your Mortgage: A Simple, Powerful Path to Financial Freedom.” “Similar to coupons, deal websites can lead to overspending on stuff you may not need … To avoid the temptation to spend, only visit deals websites for stuff you’re already planning to buy.” Here’s What to Buy and Skip During Coronavirus Pandemic!
