Budgeting our finances in times like these is a crucial skill, which I think, we need to master. Living in a time where there is a constant increase of fuel prices, good and rising unemployment, managing our funds for each of our needs is making sure that all other necessities are covered too.
I used to think that having your own car is a luxury. But with the pandemic, getting your own transportation has become a need already. Staying safe by limiting exposure to others is helpful in preventing the spread of diseases like Covid-19.
For some, the economy may still seem too volatile due the ongoing pandemic. However, being aware of what’s happening with the economy will not hurt either. Reading up trusted sources like St. Louis Fed and keeping ourselves updated with the latest economic news will greatly help us in our financial decisions.
Or course, there are a lot to think about before we purchase a car. We need to consider the amount of money we can set aside per month, the type of car we’d like to have. There are also things to consider like gas mileage and practicability of the vehicle. Aesthetics comes last for me but it wouldn’t hurt finding a good car which looks attractive too. 😀 Most of all, having a good car insurance is a must too. You will never know when you will need one.
For those on a budget, writing down our expenses is a big help in our day to day activities. Nowadays, there are many apps and websites which act as a digital planner. For cars, sites like https://carpaymentcalculator.net is a big help in monitoring our budget.
Some of my friends who are looking to purchasing their own set of wheels are saving up and plans to pay for the whole price of the vehicle. There also those who really need car ASAP so they ought to buy one in installment. If the budget has already been take care of, then there would no problem paying in the way most convenient for you. I personally prefer a one-time monthly payment. But Carpaymentcalculator.net even has a way to help monitor bi-weekly payments! But if you get a little bit stressed in budgeting, you can take a break and play the games in their virtual arcade (https://www.carpaymentcalculator.net/arcade/). I tried the race featuring Disney characters and I loved it! 🙂 Check out the short video I took of this racing game.
Cars are often seen as a liability due to the amount of money associated with having one. But I think if we plan properly, buying a car would not be a big burden. We can also consider having our own as a prize for our hard work. And just like as I mentioned earlier, having a car is now almost synonymous to everyone’s safety.
