The average American spends over $900 a month on car payments for a depreciating asset. Here is how to stop and what to do with that money instead.
👉 Join Andrew’s FREE Investing for Beginner’s Masterclass: https://event.webinarjam.com/q05p7/register/0o8z9io?webinar_id=21
What You'll Learn in This Episode
- Why paying cash for cars is not about being cheap but about buying your financial freedom back
- The three specific methods Andrew uses to build up enough cash to never finance a car again
- The 24/12/10 rule that protects you if you do have to finance and exactly what each number means
- Why most people who say they will invest the difference never actually do and what happens to that money instead
- How to build a mini portfolio that lets your assets pay for your vehicles instead of your paycheck
- When it actually makes sense to keep fixing your current car instead of buying a new one
- Q&A: Should a 27-year-old with $100K invested pay down student loans or keep investing?
Start Here
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Resource/s Mentioned
- Andrew’s Favorite Brokerage Accounts https://secure.money.com/pr/v8d06f8de92c
- Best IRAs https://secure.money.com/lp/iras/lp/best-iras-master-money?pcuid=oe09b73d1952&jump_from_embed=true&wafid=
- Index Fund and ETF Cheat Sheet https://mastermoneyresources.com/index-fund-cheatsheet
Tool/s Mentioned
- Car Buying Calculator https://mastermoney.co/how-much-car-can-you-afford/
- Compound Interest Calculator https://expert-hustler-605.kit.com/aefaaad27e
Book/s Mentioned
- Rich Dad Poor Dad by Robert Kiyosaki
- The CashFlow Quadrant by Robert Kiyosaki
Watch Next
https://youtu.be/JGoKB92rddo
https://youtu.be/jJKCfTvTm0Q
https://youtu.be/37zVUL0e2TE
https://youtu.be/_n8qUA3NsoI
https://youtu.be/OobdeA8qYbA
Connect with Andrew
- Website → https://mastermoney.co
- Instagram → https://instagram.com/mastermoneyco
- X → https://x.com/mastermoneyco
- TikTok → https://tiktok.com/@mastermoneyco
- LinkedIn → https://www.linkedin.com/in/andrew-giancola-45027b340
- YouTube → https://www.youtube.com/@mastermoneyco/
Question for you:
Are you currently paying off a car loan? Drop it in the comments and tell us what method you are using.
