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Four Tricks to Save for the Car That’s Right for you.

29 June 2017 No Comment

Getting lost in the shuffle of savings can be the need or pursuit of a car. A luxury or professional car can say a lot about someone before they even step foot outside of it. It makes the initial impression and can lead to profitable trades and relationships in the future.

Although it may be a long process, the car of your dreams is never out of reach. Use these four tips among others to finally put those dreams to fruition. Every goal has a beginning, whether it a financial goal or a personal one, they all begin somewhere. Start saving towards yours today using this mixture of personal and investment tips.

Tip One: Avoid Arbitrary Purchases

Although the goal of owning your dream car is an achievable one, it’s not something that will come easy. Depending on what kind of vehicle you’re in the market for, prices can fluctuate from $20,0000-$60,000+. These kind of prices require dedication and discipline to achieve whether through saving, investing or a mixture of both. To ensure that you meet your end goal it’s important to cut out any unnecessary purchases that can make a dent in your savings before you even start really making headway towards your purchase. These kind of purchases can range from new electronics that may not be needed,  extravagant trips that can cost almost as much as the cars themselves and the ones that take a tole day-by-day like coffees, lunches or alcohol. Limiting these is step one in building up your account enough to comfortably purchase the car of your dreams.

Tip Two: Use an Online Search Tool

Before committing to anything on the financial side of things, it’s important to know where you want to end up. An end goal as ironic as it may seem is the perfect place to start.Whether it’s that new Mercedes Benz or that Range Rover that has a few years on it, having something specific in mind with an ideal price-range is key. To get an idea of what’s right for you, visit Cars.com to take a look at the widest selection of new and used cars on the web. Cars.com is trusted by millions of users every day to both browse and purchase both new and used vehicles. The ‘Cars’ database can feel endless at times with the myriad of options available. This serves two very useful purposes that aid the process. The first as mentioned earlier gives a starting point to the journey; the other is that seeing your ideal vehicle in front of you makes what was once a dream or apparition not that long ago a reality, in-turn motivating and driving you to accomplish not only have it in front of you through a virtual screen, but through your screen door or window.

Tip Three: Treat Yourself (In Moderation)

Although being frugal and smart with the choices you make is the priority, it’s important to have fun and spend…on occasion. Being too rigid can make the journey seem never ending, opening the door for foolish impulse purchases.  Although these may be satisfyng at the time, they can create a large roadblock on the  journey, sometimes creating one so large that the destination is forgotten. Overcome this by going out to nice dinners, the movies, or out with friends on occasion to gain that same mental and physical break while not breaking the bank.

Tip Four: Invest Small

The road to your perfect car will have some bumps in it and things may not always be linear. Rainy days and unexpected events occur, making a dent in both your pocket and savings toward your new car. One way to counteract this is to smartly invest with part or all of your car savings. Putting this money towards conservative or moderately aggressive stocks can serve a dual purpose. One is the obvious increase in money you can make. While usually only garnering a modest yield, that can potentially be the rainy day fund. The second is that when the money is in stocks, it’s harder to withdraw for impulse purchases, making it safer in the long-run.

Use these four tips with your prior saving-savvy skills to get yourself in the car of your dreams, and take the first steps toward fruitful connections and networks.

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