49. IF YOU WANT TO BUILD WEALTH, PRESS PLAY
The Trent Shelton Podcast
Balance Car Payments with Investments
When deciding whether to pay off a car loan, it is crucial to consider the depreciating nature of cars. It is recommended to finance cars for a maximum of three years. An important rule of thumb is to ensure that your car payment does not surpass the amount you are investing for your future. If your car payment is $500, you should be investing at least $500 as well.
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