OCTOBER BLOG: Saving for a New Car (Best ways to Save for a Car)
Happy Monday!
Six very long, bank account demolishing months and we’re done!
My close friends and family know that my car is on it's last few miles.
I think it’s time to purchase a new car; well it’s by force because I live outside of the city and need a car to travel into work.
I know I have the option of financing a car but since purchasing a new home and having a future mortgage, utilities, insurance costs to think about I prefer to stay away from any added payments/costs.
My Savings Goal: $20,000 in the nine months.
Timeframe: November 1st 2021- July 1st 2022 (9 months)
Monthly Savings: $2,222
I'll be updating you all via Instagram on how saving is going and if requested I'll post a blog when I hit my goal!
Are you looking for best ways to save for a car? If so, here are some tips!
1. Figure out how much you can afford spend
- this will help you understand how long it will take you to save for your car)
2. Determine what kind of car you want to buy
- this will help you get an idea of what car works best for your budget
3. Decide if you want a new or used vehicle
- This will influence how long your car will last, and will determine how much money you will need to save)
4. Calculate the true costs of owning a car
- This will ensure you can afford your car payments, insurance gas and more.