Show Notes
The average American spends over $900 a month on car payments for a depreciating asset. Here is how to stop and what to do with that money instead.
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What You'll Learn in This Episode
Why paying cash for cars is not about being cheap but about buying your financial freedom back
The three specific methods Andrew uses to build up enough cash to never finance a car again
The 24/12/10 rule that protects you if you do have to finance and exactly what each number means
Why most people who say they will invest the difference never actually do and what happens to that money instead
How to build a mini portfolio that lets your assets pay for your vehicles instead of your paycheck
When it actually makes sense to keep fixing your current car instead of buying a new one
Q&A: Should a 27-year-old with $100K invested pay down student loans or keep investing?
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Resource/s Mentioned
Andrew’s Favorite Brokerage Accounts https://secure.money.com/pr/v8d06f8de92c
Index Fund and ETF Cheat Sheet https://mastermoneyresources.com/index-fund-cheatsheet
Tool/s Mentioned
Car Buying Calculator https://mastermoney.co/how-much-car-can-you-afford/
Compound Interest Calculator https://expert-hustler-605.kit.com/aefaaad27e
Book/s Mentioned
Rich Dad Poor Dad by Robert Kiyosaki
The CashFlow Quadrant by Robert Kiyosaki
Watch Next
Reset Your Money Mindset, Get Out of Debt, Save for a House & Understand Credit Scores (Money Q&A) https://youtu.be/JGoKB92rddo
Are Trump Accounts Worth It? (And What's Actually Better) https://youtu.be/jJKCfTvTm0Q
The Retirement Mistake 80% of Investors Make (with Vanguard's Lead Researcher) https://youtu.be/37zVUL0e2TE
How Much More Expensive Has Life ACTUALLY Become Since 2020? https://youtu.be/_n8qUA3NsoI
Chasing a Higher Savings Rate, Semi-Retiring in Our 40s & Rebuilding After Bankruptcy (Money Q&A) https://youtu.be/OobdeA8qYbA
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