The REAL Reason You're Broke

"Scott en Aztlán" > wrote in message
...
> http://articles.moneycentral.msn.com...oureBroke.aspx
>
> For a huge number of troubled debtors, it all began with a car. Too
> much car, financed too long, traded too soon.
>
> By Liz Pulliam Weston
>
> If you're constantly broke and can't figure out why, the answer may be
> sitting in your driveway.

The stupidity of people never ceases to amaze me. They have to have new
wheels every 3 years with financing financing and more financing; usually
getting ripped with the trade-in too.

I HATE debt but admit that I did get a 2-year car loan in 2000, and bought
a 1998 BMW for 24,000. My monthly payment was a whopping $687
a month, but I knew it was coming and could afford it (and knew it wouldn't
last but two years). I also bought from an individual, not a dealership, so
saved
$1680 in sales tax right off the bat. I'm still driving the car, it still
looks great,
and I'll drive it probably for years more. I also have a 1990 car that
still
runs great and looks better than some cars 10 years newer. A little proper
maintenance and upkeep go a long way. I also had a 15-year mortgage
that I paid off in six! I have no debts whatever. Debt is evil and so
is interest. If people would learn that, they likely wouldn't be so broke.