Is A Seven Year Car Loan A Good Idea?

When it comes to making smart money moves, our family has never been a big fan of buying a new car.   In fact, the last new car that we bought was back in 1993 when we really did the math on how much smarter it is to buy a used car that is somewhere between two to four years old versus getting a new one.   While getting a new car should be a well thought out planned purchase, it often falls into the camp of a spur of the moment purchase depending on when you get in the mood.    In a sound financial plan, you should begin to save for the (new) used car purchase the moment that you pay off the old purchase. Recently, an article came out which sent my financial sensors into outer space. Experian Automotive says that in the first quarter of 2014, 24.9% of all new-car loans were 73 to 84 months long.  Four years ...

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Stop Trying To Impress People With Your Money

If you are really trying to get wealthy, there are important life lessons to learn that will make you a smart money moves person.   It’s very difficult to pull down your guard when it comes to money.  You might be ashamed or embarrassed around poor financial decisions you made, and then tend to overcompensate by spending too much money just to prove that you can keep up with your friends or neighbors.  Here is a great post on how to build up your bank account and leave the right impression on others. You don’t have to dress for success anymore– Has anyone seen Mark Zuckerburg as of late?   Jeans and a hoodie will do just fine.  Don’t worry about the label on your clothes or your pocketbook. It just doesn’t matter. Be a leader– Perhaps you can be the one to suggest walking around a local fair or flea market, or even going to a free park to throw a ...

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Three Reasons NOT To Lease A Car

Ownership is still one of the greatest feelings in the world.   I’m not talking about a house you have with a big mortgage because you really don’t own it yet.  The day you pay that puppy off will truly be cause for celebration.  It’s a feeling that less than the majority of people get to experience in America.   When it comes to your automobiles, I’m a much bigger fan of owning versus leasing.   The one time in my life I had a leasing experience back in 1993 with my Nissan Altima, I felt like an upside down pineapple cake by the time it was all said and done.  Since that purchase, I will only buy used cards and I will only own them.  Here are three reasons why NOT to lease a car. The Mileage Limit– When it comes to leasing a car, you need to make sure you always read the fine print.   Typically, the lease will stipulate some ...

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How To Save Money On Shoes

Many women (and now men) have a decent shoe collection in their closet. As parents, we know that after spending lots of money on clothes for our kids, shoes can come in a close second for the family budget. Between growth spurts, general wear and tear, and special events, kids can change shoes faster than Vin Diesel drives in Fast 6! One of the smart money move habits we can all get into this year is thinking about using different strategies to reduce our shoe costs. Here are five of my tips on how to keep light on your feet while keeping your cash in the wallet. 1)   Buy Out Of Season– With most items we buy in life, buying during the peak season is primarily when you will pay the highest dollar amount for anything especially shoes. Most parents will begin the process of stocking up on school supplies and running their children over to the shoe store to ...

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