Financial tip of the day

Not wrong! I just freed up $1,600 per month paying off two vehicles. That's $19,200 per year. If I went out and bought two new vehicles because these are paid off with 5 year notes, that'd cost me an additional $96,000. I'm going to drive these until they disintegrate from underneath me!
 
Another financial tip for those of us in a nice home is sell it and buy a cheap house on the bad side of town and invest the leftover money so you can live a better life in the future.
Not sure I concur with that course of action.

Real estate has three rules" location, location, location". Your course of action violates all three rules.

Would you rather own and hold an oceanfront home you struggle to make payments on, but do----- or own a home in an area that is crime ridden and all the businesses except liquor stores go out of business?
 
Put it in perspective. In 12/06, I put 65% cash down on a 2007 BMW that I ordered. Today, that car is worth less than what people here spend on a new high end tool or vacation.

Cons
1. the depreciation 2. the missed money on what that cash would have earned simply using the S&P

Pros
3. The sheer enjoyment the car has provided over 19 years, problem free until this Dec. when I had to replace thrust arm bushings
4. In a very out of character move I was the first on the block and back then a new 3 coupe turned heads, glad to have experienced it, no different than when you have a girlfriend that looks like Brooklyn Decker. One probably can't hold on forever, but it's amazing to think that we did it at least one time in our lives.

So, like anything else in life, a new car isn't all bad, if in moderation. At my age, I've bought 3 new cars. only 1/3 were junked after 25 years. The other two are still in the stable at 13 and 19 years old. Do people really spend time calculating their net worth? I mean that's a lot of zeros for many of us. What does it really matter, ego?
 
Worth could be important for leaving your legacy to heirs. I do agree in general but it would depend on how much that vehicle could make you more money. Funny regardless and I've never bought a new vehicle.
 
This is not good advice. Moving to the bad side of town is just that.......bad.
Concur. Lots of reasons not to do that... some of which are financial.

I can't complain, I tend to think of myself on the "bad" end of town. The reality is that I'm just on the cheap end of town. It's still low crime and low traffic, and just far enough from the main drag to not be bothered. But my taxes are low and my neighbors far enough away.
 
Concur. Lots of reasons not to do that... some of which are financial.

I can't complain, I tend to think of myself on the "bad" end of town. The reality is that I'm just on the cheap end of town. It's still low crime and low traffic, and just far enough from the main drag to not be bothered. But my taxes are low and my neighbors far enough away.
That is more accurate. Low cost side as opposed to the bad side.

In Charlotte, super high end on one side of the road, on the other, high crime
 
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