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6) Major Financial Decisions
Car buying vs delaying
The U.S. is a car-first country, but a car is a depreciating asset—it loses value every day. If you live in a city with good transit (NYC, Chicago, DC), delay the purchase. A car costs an average of $800/month (payment + insurance + gas + parking). If a car allows you to take a job that pays $15,000 more per year than a transit-accessible job, the car has a positive ROI. If it's just for 'convenience,' it's an expensive luxury.
The U.S. is a car-first country, but a car is a depreciating asset, it loses value every day.
- If you live in a city with good transit (NYC, Chicago, DC), delay the purchase. A car costs an average of $800/month (payment + insurance + gas + parking).
- If a car allows you to take a job that pays $15,000 more per year than a transit-accessible job, the car has a positive ROI. If it's just for "convenience," it's an expensive luxury.
Free Resource: The True Cost of Car Ownership!
Resources
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