Ask Paula: Should I Repay Debt or Invest?
Afford Anything
00:00
Is She Making Another Roth IRA Contribution?
I call that making a car payment to yourself. You set aside that money every month so that that way the next time you need to buy a car, boom, you've already made the payments in advance to you. And it does something else to it becomes a gain. So I found when I'm putting that money away, instead of buying a new car right away, because what a lot of people do, they get done paying it off and they go, oh, my car's paid off. Guess what? I could trade it in and start this both over again. But if I begin this game where I'm going to pay myself this car payment, I wait until I have enough
Transcript
Play full episode
