this post was submitted on 17 Jul 2024
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Asklemmy
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Set up automatic bank transfers to chop your income into % parts: 5% play money, 20% savings, bills etc. do what works for you. Get rid of unnecessary subscriptions.
I don't have enough to chop my money into anything other than 75% rent, 20% car payment, 5% food for my dog.
But I do put that rent and car payment in a savings account and pay from that. Those fractions of a penny per month add up; after 5 years I have 77 cents in my savings account!
20% to a car payment is stupid
And necessary in many situations.
It's more expensive to move somewhere a car isn't necessary.
Why not buy an second-hand car instead? One that's known to be reliable, like a Mazda 3, Toyota Corolla, etc?
Just because some areas need a car to get around, doesn't mean people need to have high car payments every month.
Have you seen the prices of used cars lately?
I've got a 2012 Mazda 3. Bought it in 2016. Still runs well, no major issues so far. The tools I use to track my net worth track its value as part of that, and they say it's worth around $4000 now. I wouldn't have an issue with buying a ~5-10 year old car if it was well-maintained, and those shouldn't cost that much.
Dude you could have just answered "no, I haven't seen the prices of used cars lately."
Yes, the used car market is full of predators charging 200% more than what a junker is worth because there's nothing stopping them. And I also agree that keeping the minimum wage literal decades behind productivity breeds an environment where people are assigned a made up number that tells banks it's ok to gouge this person on interest rates. Full agreement with you there.
Hey, it's your brother. Can I borrow 76 cents?
So many people need this.
Privacy.com is your friend. Free and makes βuncancellableβ subscriptions a thing of the past