cheryl
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‘Never spend more than this much of your income on a car,’ says millionaire finance expert - CNBC
Americans have a complicated relationship with cars. Aside from buying a home, a car is probably the second-most expensive purchase you will ever make in your life.
After more than 10 years of writing about money on my personal finance website, Financial Samurai, I’ve found that being too fixated on the advertised price of a car is the biggest — and most expensive — mistake buyers make.
Too often, people will purchase a car without having a realistic understanding of how much more it will actually cost to own it. As a result, they end up spending too much and exceeding their budget.
I’ve read and heard countless stories from readers, friends and family members (even myself, unfortunately) guilty of doing this.
Americans have a complicated relationship with cars. Aside from buying a home, a car is probably the second-most expensive purchase you will ever make in your life.
After more than 10 years of writing about money on my personal finance website, Financial Samurai, I’ve found that being too fixated on the advertised price of a car is the biggest — and most expensive — mistake buyers make.
Too often, people will purchase a car without having a realistic understanding of how much more it will actually cost to own it. As a result, they end up spending too much and exceeding their budget.
I’ve read and heard countless stories from readers, friends and family members (even myself, unfortunately) guilty of doing this.