How to Money Ask HTM - When to Ditch an Old Car, Dropping Escrow, & Investing via an ESOP #928
Jan 6, 2025
Listeners dive into a range of intriguing financial queries! Discover the perfect moment to part ways with your old car. Get insights on whether it’s wise to live off one income for better financial aid. Explore whether dropping your escrow account is a smart move. Find out if buying silver from Costco is truly a good investment. And learn about employee stock ownership plans, especially when it comes to Walmart stock. Valuable advice wrapped in a fun format keeps the conversation lively!
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Tyler's Car Troubles
- Tyler bought a used car from his grandparents with low mileage for a good price.
- After several years and some repairs, the head gasket blew, leading him to sell it and buy a new car.
Weighing Car Repairs vs. New Car
- Don't ditch a car for minor repairs if it still has life left.
- Upgrade if you have the cash, but avoid car debt by holding onto a reliable car and paying for repairs.
Make and Model Matter for Repairs
- Consider the make and model when deciding on major repairs.
- A reliable car like a Toyota or Honda might be worth a larger repair, while a less dependable one might not.