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The Real Reason You're Broke

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Anonymous
Not applicable

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.

Message 1 of 8
7 REPLIES 7
Imhotrodcrazy
Valued Contributor

Re: The Real Reason You're Broke


@Anonymous wrote:

http://articles.moneycentral.msn.com/SavingandDebt/SaveonaCar/TheRealReasonYoureBroke.aspx?OCID=eml_msnnl_6013.4.2.11&REFCD=emmsnnl_6013.4.2.11 

 

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. 

FICO 08
TU 842 12/8/18
EX 840 12/29/18
EQ 842 12/8/18
(NASA 30K) ( Amex 44k ) ( Freedom 10.6K ) ( US Bank Cash+ 20k, LOC 15k ) Winners never quit, and quitters never win
last app 2/15
Message 2 of 8
MarineVietVet
Moderator Emeritus

Re: The Real Reason You're Broke

I had to stop reading. I saw too much of myself in that article.  Smiley Very 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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Message 3 of 8
Imhotrodcrazy
Valued Contributor

Re: The Real Reason You're Broke


@MarineVietVet wrote:

I had to stop reading. I saw too much of myself in that article.  Smiley Very 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 08
TU 842 12/8/18
EX 840 12/29/18
EQ 842 12/8/18
(NASA 30K) ( Amex 44k ) ( Freedom 10.6K ) ( US Bank Cash+ 20k, LOC 15k ) Winners never quit, and quitters never win
last app 2/15
Message 4 of 8
MattH
Senior Contributor

Re: The Real Reason You're Broke


@Anonymous wrote:

http://articles.moneycentral.msn.com/SavingandDebt/SaveonaCar/TheRealReasonYoureBroke.aspx?OCID=eml_msnnl_6013.4.2.11&REFCD=emmsnnl_6013.4.2.11 

 

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
Message 5 of 8
Anonymous
Not applicable

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 Smiley Wink

Message 6 of 8
MarineVietVet
Moderator Emeritus

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? Smiley Wink

 

Message 7 of 8
Anonymous
Not applicable

Re: The Real Reason You're Broke

I needed this and of course it's me Smiley Wink

Message 8 of 8
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