Wednesday, April 18, 2012

Blind Spot

Things to keep in mind in big purchases are the "extra" costs or sustainment costs.

Yes your Porsche costs 60K amd insurance is insane but can you afford the tires when they wear down, or the brakes when you need to get them done?

It happens I everyone and not just with cars. Some people buy a house but don't realize they may have to replace an appliance if it fails. I mean, could you afford a refrigerator tomorrow if yours broke today?

I suggest creating a monthly budget for these things. I put $30 away every pay check for my car. It's the cost of a dinner out but when I need tires I can afford them.

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