Originally posted by RogerB:
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.



If only that last statement were true. We live in the 3rd most expensive housing market in the U.S. (behind Los Angeles, and San Francisco) the Boston area. Any extra money that doesn't HAVE to go out (if there is such a thing) goes towards trying to get ready to buy a home this year. Also when we (overspent) on our Van last year, we were counting on the Contour's payments ending, and that money going towards the van.

I know that your advice is good, but not always realistic. Kids and wives seem to always need something.

Thanks for your input.

MUST SELL - ECM computer new for a 98 V6 mtx + pats Now trolling in a Red Nissan 4 x 4