Thursday, April 3, 2014

Get on a savings drive

Want that car? The one you've always dreamed of? All the desire in the world counts for nothing if you don't have the dosh to back it up. So, here are a few tips to help you save for your dream car.

Get real. Sure you'd like a Ferrari, but maybe you only need a Mazda 2. Figure out what sort of car is best for your lifestyle and income and you'll have a realistic goal of what you want and how much money you'll need.

Save. Sounds simple, and it is. Just be honest and consistent, put 'X' amount aside every week, every month, and you'll soon reach your goal. Like the shampoo ad used to say, "It won't happen overnight, but it will happen".

Wheel and deal. When you're scrimped and saved, reached your goal and can't wait to buy your car – don't do it! Money burns a hole in pockets, with the urge to spend blurring judgement. Relax, take your time, haggle a bit, suss out deals or negotiate a lower price. Just because you have the money, you don't have to spend it all.

Wait, there's more. It's called running costs. Before you save for any car, or consider any model, think about how much it will cost to keep on the road. There's no point getting the car of dreams if you can't afford to drive it.

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