Originally posted by meancontour:


One thing though, from a money perspective I find it easier on the (somewhat strained- 2 kids...) checkbook to make a scheduled monthly payment (still repair possibilities I realize) than Hey surprise, here's $1100 (like I had to do yesterday- can you say credit card?)





You should have a cash reserve in something like a money market account. If you don't have a car payment, you should be paying yourself something every month. I'd say at least $200 a month is reasonable. Over time, you'll have a buffer for all of those financial emergencies that pop up (Washing machine dies, Car needs new clutch, Death in the family, etc.) This is basic financial common sense.

If you can afford a car payment, you can afford to put money in savings when you don't have a car payment.

Function before fashion. '96 Contour SE "Toss the Contour into a corner, and it's as easy to catch as a softball thrown by a preschooler." -Edmunds, 1998