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Moderator Emeritus
beamMEup
Posts: 4,473
Registered: ‎12-31-2008

The Real Reason You're Broke

http://articles.moneycentral.msn.com/SavingandDebt/SaveonaCar/TheRealReasonYoureBroke.aspx?OCID=eml_... 

 

If you're constantly broke and can't figure out why, the answer may be sitting in your driveway.

Americans are spending more on their vehicles than ever before -- about $8,600 a year on average -- and it's driving some to the breaking point.

Just puttin' syrup on something, don't make it pancakes.
Valued Contributor
Imhotrodcrazy
Posts: 1,291
Registered: ‎03-11-2009

Re: The Real Reason You're Broke


beamMEup wrote:

http://articles.moneycentral.msn.com/SavingandDebt/SaveonaCar/TheRealReasonYoureBroke.aspx?OCID=eml_... 

 

If you're constantly broke and can't figure out why, the answer may be sitting in your driveway.

Americans are spending more on their vehicles than ever before -- about $8,600 a year on average -- and it's driving some to the breaking point.


I totally agree with this article.  I have seen many friends and family members fall into this trap.  I was never one to buy a new car every 3-4 years.  I still drive my 26 year old pick up that I maintain and keep in excellent condition.  In addition, I have had my hot rod for 28 years.  I think what keeps me out of this kind of trouble is that I have always hated debt. 

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EX 834 12/14/11 ( AMEX )
EQ 716 5/4/13
TU 751 12/10/12 ( Lender )
Goal - At my age, just staying alive

Moderator Emeritus
MarineVietVet
Posts: 14,084
Registered: ‎07-14-2009

Re: The Real Reason You're Broke

I had to stop reading. I saw too much of myself in that article.  :smileyvery-happy:

 

But I've gotten much better in the last few years. I still have my '97 Chevy truck I bought new.

 

 

 

From a BK years ago to:

9/09 EX pulled by lender 802
3/10 EQ- 800
4/10 TU -772

You can do the same thing with hard work

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Valued Contributor
Imhotrodcrazy
Posts: 1,291
Registered: ‎03-11-2009

Re: The Real Reason You're Broke

[ Edited ]

marinevietvet wrote:

I had to stop reading. I saw too much of myself in that article.  :smileyvery-happy:

 

But I've gotten much better in the last few years. I still have my '97 Chevy truck I bought new.

 

 

 

From a BK years ago to:

9/09 EX pulled by lender 802
3/10 EQ- 800
4/10 TU -772

You can do the same thing with hard work

Credit Scoring 101
Common Abbreviations
Frequently Requested Threads
Credit Problems Which Is Worse?
Whats In Your FICO Score


MV, 

Good for you, you have seen the light.  As I said before,  I still drive and love my '84 Chevy PU that I bought new.

FICO
EX 834 12/14/11 ( AMEX )
EQ 716 5/4/13
TU 751 12/10/12 ( Lender )
Goal - At my age, just staying alive

Senior Contributor
MattH
Posts: 3,245
Registered: ‎04-03-2008

Re: The Real Reason You're Broke


beamMEup wrote:

http://articles.moneycentral.msn.com/SavingandDebt/SaveonaCar/TheRealReasonYoureBroke.aspx?OCID=eml_... 

 

If you're constantly broke and can't figure out why, the answer may be sitting in your driveway.

Americans are spending more on their vehicles than ever before -- about $8,600 a year on average -- and it's driving some to the breaking point.


This is exactly why a 2000 Camry is in my carport right now.

TU 791 02/11/2013, EQ 800 1/29/2011 , EX Plus FAKO 812, EX Vantage Score 955 3/19/2010 wife's EQ 9/23/2009 803
EX always was my highest when we could pull all three
Always remember: big print giveth, small print taketh away
If you dunno what tanstaafl means you must Google it
Moderator Emeritus
beamMEup
Posts: 4,473
Registered: ‎12-31-2008

Re: The Real Reason You're Broke


MattH wrote:  This is exactly why a 2000 Camry is in my carport right now.

It would be good buddies with my 2000 Sienna.  (Paid with cash right after I sold my 95 Camry with 250,000 miles on it).

Incidentally, the KBB value on my 2000 Sienna is higher than when I bought it in October :smileywink:

Just puttin' syrup on something, don't make it pancakes.
Moderator Emeritus
MarineVietVet
Posts: 14,084
Registered: ‎07-14-2009

Re: The Real Reason You're Broke

 


MattH wrote:

This is exactly why a 2000 Camry is in my carport right now.


A 2000 model? Goodness Matt you are living large aren't you? :smileywink:

 

Established Member
Shentographer
Posts: 19
Registered: ‎02-17-2010

Re: The Real Reason You're Broke

I needed this and of course it's me :smileywink:


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