Lots of phrases out there now that are showing up in conversations everywhere. Many people are suffering the effects of this down economy and realistically the end doesn't appear to be right around any corners I can see. Even those of us who have dodged the bullet so far have become much more cautious spenders.
One of the most significant areas to save is on our vehicle expense.
I like to listen to Dave Ramsey on my way home from the YMCA at night. He gives good advice to people in financial trouble. The first step is to develop a budget - where your money comes from and where does it go, the wake up call is you can't spend more than you earn (don't tell that to anyone in government).
Where most people go wrong is their vehicles expense. Getting out from under burdening car payments can be the first step to making the numbers balance.
In my business I am seeing more and more people unloading expensive, high end vehicles for more practical used cars that they can pay cash for.
The key is to find decent, dependable replacements for those pricey budget breakers. Always be sure to get that used car thoroughly checked out BEFORE YOU SIGN THE PAPERS.
You don't want to buy a nightmare, but there are plenty of good values out there and we would be more than glad to help you find one. If your situation is more stable and your thinking new car, it may be a wise decision to back up a few years and find a low mileage car with some warranty left at about half the price. Play it smart and be a financial survivor. gb
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