The most important wealth building tool is your income! People in America today have their income tied up in credit card debt and it keeping them in financial bondage. I remember paying $379/month to drive around a new True Blue Ford Mustang, from 2000-2003. Thats a total of $13,644 not including insurance in three years. When I sold it I still owed $8K. I bought it new and now I know that buying a new car is a total rip off. If you must buy a vehicle, buy a 2-3 year old car that has already depreciated its value. The value of cars drop fast and they are in no way an investment unless you are using it for work and getting a good tax break off of it, even then they stink. Drive a nice affordable, PAID FOR, used car to get around in. Don’t worry about what people say about you, at least you won’t be broke driving a new car. Be wealthy and invest in long term mutual funds instead and retire rich.
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