Comments on: Avoid the Three Biggest Financial Pitfalls http://www.code4gold.com/blog/2008/07/10/avoid-the-three-biggest-financial-pitfalls/ Thu, 17 May 2012 16:37:23 +0000 http://wordpress.org/?v=2.0.1 by: McIntyre http://www.code4gold.com/blog/2008/07/10/avoid-the-three-biggest-financial-pitfalls/#comment-138964 Wed, 06 Aug 2008 06:21:05 +0000 http://www.code4gold.com/blog/2008/07/10/avoid-the-three-biggest-financial-pitfalls/#comment-138964 I agree with you mark. The best way to save money is not to lose it. The Depreciation of the motor car being one of the best ways to lose money. A way to be one step ahead of the game is to buy a car price book and look through makes and models and research what cars do in fact lose money. Be a careful and wise spender...Let's learn how to be rich.</a> I agree with you mark. The best way to save money is not to lose it. The Depreciation of the motor car being one of the best ways to lose money. A way to be one step ahead of the game is to buy a car price book and look through makes and models and research what cars do in fact lose money.

Be a careful and wise spender…Let’s learn how to be rich.

]]> by: Motoring Finance Issues http://www.code4gold.com/blog/2008/07/10/avoid-the-three-biggest-financial-pitfalls/#comment-138505 Sun, 20 Jul 2008 16:21:46 +0000 http://www.code4gold.com/blog/2008/07/10/avoid-the-three-biggest-financial-pitfalls/#comment-138505 Perfectly right about depreciation of the motor car being one of the best ways to lose money. A way to be one step ahead of the game is to buy a car price book and look through makes and models and research what cars do in fact lose money. In the UK, certain German car makes cost more than other well known cars, but when you factor in depreciation, which is less in these Geramn cars, you find that over a 3 year period, you save money buying this type of car. It may be different in the USA, but the place to research that info is from a car price magazine off the bookshelf, or even some online sites, that give up to date price information on vehicles. Mark Perfectly right about depreciation of the motor car being one of the best ways to lose money. A way to be one step ahead of the game is to buy a car price book and look through makes and models and research what cars do in fact lose money.

In the UK, certain German car makes cost more than other well known cars, but when you factor in depreciation, which is less in these Geramn cars, you find that over a 3 year period, you save money buying this type of car.

It may be different in the USA, but the place to research that info is from a car price magazine off the bookshelf, or even some online sites, that give up to date price information on vehicles.

Mark

]]> by: Joe Boylan http://www.code4gold.com/blog/2008/07/10/avoid-the-three-biggest-financial-pitfalls/#comment-138446 Thu, 17 Jul 2008 22:26:10 +0000 http://www.code4gold.com/blog/2008/07/10/avoid-the-three-biggest-financial-pitfalls/#comment-138446 Great article Terry, but not nearly hard hitting enough. You didn't mention that depreciation on a new car is at around 30% and it hits you before the ink is dry on the purchase contract. Nor the fact that most folks don't include this figure in the running costs of the car for the first year. Boiled down to miles per litre/gallon and you would never consider buying a new car again. That is, of course, unless you are a status symbol geek. In my book any piece of transport I buy (notice I didn't say invest in) has to earn its keep every minute it stands outside my door never mind whilst its taking me from A to B on the road. Second point: There is no such thing as zero interest on a deal. Think about it! Try asking a bank for a zero interest loan. Then save your new reputation as a clown. These are the cruel facts for credit junkies (don't worry I'm one too)if you are considering escaping the coming Credit Crunch. Don't go for the chrome and the glitz. Just ask yourself: 'Is it really worth it?' 'Will it earn its living?' 'Would you really employ a guy and pay him for negative work even if he did have chrome bumpers?' Best, Joe Boylan Great article Terry, but not nearly hard hitting enough. You didn’t mention that depreciation on a new car is at around 30% and it hits you before the ink is dry on the purchase contract. Nor the fact that most folks don’t include this figure in the running costs of the car for the first year. Boiled down to miles per litre/gallon and you would never consider buying a new car again. That is, of course, unless you are a status symbol geek.
In my book any piece of transport I buy (notice I didn’t say invest in) has to earn its keep every minute it stands outside my door never mind whilst its taking me from A to B on the road.
Second point: There is no such thing as zero interest on a deal. Think about it! Try asking a bank for a zero interest loan. Then save your new reputation as a clown.
These are the cruel facts for credit junkies (don’t worry I’m one too)if you are considering escaping the coming Credit Crunch. Don’t go for the chrome and the glitz. Just ask yourself: ‘Is it really worth it?’ ‘Will it earn its living?’ ‘Would you really employ a guy and pay him for negative work even if he did have chrome bumpers?’
Best, Joe Boylan

]]>