Financing a car is one of the biggest, most common, money mistakes people tend to make. Not only does it come with a hefty monthly payment on a depreciable asset, where you will pay a ton in interest making that car cost way more then what you ‘paid.’ High priced, new, and/or financed cars need way more insurance on top of that.
Want to avoid wasting your money, like a boss, and get a great used car in cash for a deal?
I love value, and I love sharing the wealth even more. Here is my list of how to get a smoking deal on an automobile, some I found on my own while others were followed up with the caveat of don’t tell anyone I don’t want the competition. Ooops. Why do they not want the competition? They are making money off of buying and selling cars, trucks, and other things this way.
General Information for researching a car’s worth before you bid or make an offer, these websites have used car sales as well, but if you’re looking for a deal look elsewhere:
Government Surplus. The government sells a lot of stuff, usually in an auction format, they do so in different places depending on the state and the department selling the item. There are many people whose sole business it is to swoop up deals and resell things on these sites. Including many vehicles. Some are government vehicles which have aged out due to various reasons as a standard age or mileage retirement. Government Vehicles have meticulous upkeep records and have been well maintained; they also tend to be upfront with conditions and known problems. They also sell confiscations and insurance write-offs. This is also the best place I have found to look for school buses, public buses, for conversions such as schoolies for you minimalists out there.
Lender Repossessions. Many times a lender ends up with a vehicle that they do not want, just like home foreclosures and REOs, these exist for automobiles too. I have found quite a few shady websites in regards to this option, so exercise caution. I advise you to go directly to a local bank or credit union website or call them to find these deals in your area.
Local Live Auctions. Sometimes people or companies do not want to deal with the headache of selling their used automobiles and turn to local automobile auction houses. These can be a great place to get a steal on a vehicle. The ones that I have been to have a preview day where you can poke around all the cars and then a bidding day. A quick google search in your area should help you locate some of these auction houses.
Haggle or Scoop up a deal from an individual. Do your research and watch for a deal to come up from the owner directly. The pros to these are you can drive the car around and get it checked up by a mechanics shop before you make the leap if you want. The con is not every individual is honest, try to play it by the facts.
While perusing the internet this week, I came across several advertisements for financing your wedding. Because there is nothing that says we are ready for the next chapter of our lives like starting it with a massive debt. Curious, I investigated more. Washington Times reported that the average price of an American wedding had reached a mind-boggling $35,329!
WHAT! On a party?
This amount could send that couple on good economic footing into the world. 35,000 dollars is a great downpayment on a home in most states or even a paid in full, flat-out cash price on some fixer uppers or condos.
It could allow that couple to house hack and cover all of their housing expenses!!! Why would anyone in their right mind finance a wedding?
Where are the friends and families not condoning excess and telling the perpetrators of such wastefulness what they are doing? TIME reports as of 2016 that 1 in 3 people have no retirement savings and that 72% of millennials have less than $10,000 in savings.
Where did we go wrong?
When did declaring our love for someone for our all our friends and families to nourish and protect become a pinnacle of American consumerism?
Does having the $3,000 dress instead of the $300 one say our love will last forever? Well it better, because that debt probably will stick around for a while.
But guess what, it does not, in fact quite the opposite.
On average, if you spend more money on your wedding ring and wedding, the marriage is less likely to last! The professors went on to hypothesize that it was possible that the economic stress of the debt from the wedding was what caused such outcome.
Do we need more reasons to be fiscally responsible, on this special day?
It goes on further to say:
“evidence suggests that the types of weddings associated with lower likelihood of divorce are those that are relatively inexpensive but are high in attendance.“
So if you want that marriage to last, go cheap, but don’t skimp on the people.
I didn’t know all this when I got married, but this is exactly what I had.
A big, cheap wedding.
This is what I did to get the wedding that I wanted without busting my budget, all said and done I think I ended up paying less than $2000 for 80 people:
Buy many of the things you would normally rent. And then sell them back on ebay.com, craigslist.com, or a Facebook group. Net after the sale will be a fraction of the cost to rent. It is usually pretty easy to do in bulk, but you can get more back separate. I got all sorts of things on Amazon.com: Wedding Fairy Lights, Table Runners, Table Cloth, Vases, and anything else you can think of!
Choose a cheap venue. We did a backyard wedding, and it was wonderful. Other places that are cheap are city parks, national parks, and some other public facilities.
Get a pre-owned wedding dress. Using an expensive dress for one day is wasteful. I bought something that I had tried on at a store for half-off the tag. And guess what you can sell it again afterward!! I used Pre-Owned Wedding Dresses, and I have nothing but good things to say about them. Many of the dresses offer returns.
Get a Birthday Cake! I went wedding cake shopping and was disgusted both with the level of quality and the price. Instead, I decided to go to my local bakery and ordered three all white birthday cakes. They were amazingly good and a fraction of the cost.
Rent the tables and chairs, make sure to shop around and don’t mention that it is a wedding.
Don’t skimp on the Wedding Photographer. This was the one thing I wish I hadn’t gone cheap on. Still, there are so many amazing photographers out there I would choose one that isn’t huge on the wedding circuit to get more value.
Food. This was my biggest expense. I had my favorite restaurant cater a buffet. The meal was my chosen splurge for my guests that made my wedding feel not low budget at all.
Get flowers in bulk. I ordered 450 roses in three beautiful colors from Sam’s Club.
Have family help out! Some family members will want to help share in your big day; this is an awesome way. Those flowers need to be arranged, the chairs set up and moved, maybe you have a cousin who would rather give some time than cash for a present!
How do you feel about the modern American wedding? What was your wedding like or what are you planning?
Let me first start out saying this is not an affiliate link bank; I am not going to tell you that doing all your searches through Bing or Swagbucks, or all your shopping through iBotta is passive income. Because it is not! Those are just incentive programs, to do your shopping through them, or to actually do work for them by building their businesses. Passive Income is income that does not come from trading your time for money; it is something that is sustained even when you are taking no actions. However, that does not mean there is no work involved!!!! Let’s get this straight; there is no such thing as money without effort. The closest thing is government cheese, but you still have to jump through a ton of hoops, live a very modest life, and be reliant on someone else. Passive Income streams tend to have a lot of work up front that yield a slow stream that takes only a negligible amount of time and maintenance later.
Stock Market: Dividend Stocks, Index Funds. The key for passive income in the stock market is only to take the interest accrued out or dividends. Dividends Stocks are single company stocks that have a good track record of growth in the value of the stock as well as give little kickbacks called dividends. The key with the stock market as a passive income is that you do not remove the money that is generating the interest or dividends. The catch for this is that it takes a significant amount of cash (Work) to make any real life changing amounts here.
Real Estate: Rentals, Owner Financing, Lending. The best thing about this category is that it all works together to allow for a lower point of entry. The bad part is it takes a long time or a lot working with many balls in the air to switch over from the person paying mortgages payments to the person receiving the mortgage payments. There are also so many different options for investing within the Real Estate industry. The baseline rule is getting someone downstream of you in the world to pay you a consistent cash flow.
Businesses: Franchises, Self Startups. These take a lot of upfront work and time; businesses vary widely from restaurants to vending machines to small-scale blogs. Your imagination and motivation is the only limitation. Entry point can be very low like a blog or require significant capital such as a franchise. For passive income, the goal has to be generating enough income that you can hire people to do all the work and still yield an income.
Creative Royalties: Inventors, Authors, Musicians. Usually taking a great deal of upfront work and marketing before any returns are seen. These once they are created passively create income. How much income mostly varies on quality, quantity, and marketing. For this not to be a business you have to hand this off to someone else such as a record company or a publishing house.