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Money: How to Drive Free and Retire Rich


I loved my 2003 Honda—especially since it was paid off.  But, 149,000 miles and a broken AC (in Florida) later, it was time to look for another ride.  So, I did what most people do, I started figuring out how much car payment we could afford.  That’s when I heard about something that sounded too good to be true.  But after checking it out, it made perfect sense.  It’s Dave Ramsey’s plan for Driving Free and Retiring Rich.

Car payments can take a big chunk out of the monthly budget, can’t they?  Well, Dave Ramsey has a plan for turning car payments into retirement savings.  In his example, he bases his math on a $475 monthly car payment.  For most of us, that’s way too much.  But you can still do his plan, even with a much lower car payment.

 

Related Resources: Money: Three types of Savings: If, When and Why

 

Pillow Talk: End your day talking with your child...

What’s your favorite kind of car?  How much do you think cars cost?

 

 

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