Tuesday, September 13, 2011

Simple Savings: Pay Cash for Cars

About 10 years ago, we decided to only pay cash for our cars. Before that, we had bought a couple of cars with loans and paid a lot of interest. We started out by putting money in the bank each month and then bought a 1976 Subaru which was all we could afford at the time since we wanted to pay cash. It only had an AM radio! Then we kept putting money in the bank until we were able to buy the next car with cash. We finally got up to the point where we were able to buy a used car that was less than 5 years old. By doing this, we have saved lots of money in interest. It takes time and patience, but it is worth it! You really appreciate your car more you have to make sacrifices to save a lot of money and wait a long time.

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