PAy cash or have special account for "toys" I have $30K in my Car toy account. Had an 05 and 08 Vette and a Miata in the past three years. Now looking sniffing around Zs.
How I developed that account was my fathers rule. Take a loan out on your first car for no more that 36 months. After its paid off KEEP paying the money into a special account. Keep the car for another three years and the account will grow to a cash and carry account. Before you know it you will have a chunk of cash. When one is paying cash for something, they seem to give it much more thought than when one is decideing how much they can afford a month.
BTW I never bought a new car . EVERY car one sees on the street is a Used car.
The largest raise anyone will get is the raise at 40 years old when their 15 year note is paid off on the mortgage. That is a huge tax free raise. But again KEEP making the payments to yourself another 15 in perpetuity in investments....Retire early if you want...
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