Today’s post is taken to you by Amanda, a twenty-something who blogs about one particular concern: will you be pursuing a life that is intentional? Today, she shares her story about how exactly she paid down her car within just 2 yrs!
Four months into my very very first full-time task, we made a decision that is incredibly stupid.
I bought a high priced automobile. And I also took down a loan to get it done. A $20,000 loan.
You should keep in mind that the $20,000 figure ended up being an entirely arbitrary quantity I decided on, at random, because I was thinking it sounded such as an adult-level dollar add up to purchase a vehicle. I didn’t adjust this figure according to my yearly wage or even the sum of money I experienced saved within my checking account.
Now, i’m completely financially inept, I will share a few things I did right before you think:
- I got myself used, and so I didn’t need to swallow the depreciated price of a vehicle that is brand-new.
- We negotiated financing having a 3.5 % interest rate, which will be less than average (although not as effective as having that 3.5 per cent nevertheless in my own pocket, you realize? ). Continue reading “The way I paid down a $20,000 car finance within just two years”