I wouldn’t walk across hot coals for the fun of it. But if I could be shown how a short, painful walk would do away with a lifetime of worry, frustration and the fear that comes with constantly being broke, I’d do it.
While the method that follows isn’t exactly hot coals, it does represent a short-term sacrifice to achieve something amazing that few people will ever achieve in their lifetimes: paying all cash for a car, and perhaps, if you choose, even a brand-new car. Eventually.
Let’s say that tomorrow morning your car is destroyed beyond repair. You must have a car, and because you have no money saved and the insurance check is pathetically small, you opt to buy a brand-new car. Realistically, how much can you afford to pay each month for a car payment? $200? $350 $600?
Okay, back to reality. Your car isn’t destroyed, and you’ll keep driving it for a while. But remember the amount you believe you could afford to pay for a car payment each month if you absolutely had to and keep reading. Read more