The American Dollar
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Our Story: Both my wife and I are 27 years old and have gone through financial hell and back. Now we are on track to financial freedom, however we are not financial advisors or professionals, just everyday people. Share our journey from a negative networth and email us if you have questions or comments! :)



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Monday, November 28, 2005

The Car

Signifying the American Dream, the car (or truck) has been the barrier breaking freedom of the consumer's identity since the Model T. When you first recieve your license from the DMV, there has been a pride of ownership aspect associated with actually OWNING your car.
Today, a car is more than just transportation. It can define someone. THAT is the pitfall in itself and it goes back to the greenER-grass growing on your neighbors lawn theory.

Why should a car define you? It shouldn't. Flashy rims or high end gas guzzling SUV's definately dont make you who you are as a person. Sure its cool and all your friends and family envy you, but those payments on your $5000 rims look horrible coming out of your pocket every month too.

This goes back to my whole debt theory which is, if you cant afford to pay for it with cash, you shouldnt have it at all. My wife and I drive very sensible foreign cars. If the car needs to be repaired, we repair it. A car should be driven into the ground and not traded every so often for the newest model. After we are done running it 200,000 miles, we will sell them privately and pay cash for our next car. For our hard work and saving for the car, we will try to get something that each of us LIKES, without going too far from the sensibility or reason for having a car. Overall its a good choice to stick with a clunker if it works, and SAVE SAVE SAVE for the next vehicle purchase that you have in mind. NEVER let the bank or especially the dealership finance the car for you and ALWAYS buy used. PERIOD

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