Car Automotive

Posts Tagged ‘Planning’

Aside from your house and your children’s education, your car will probably be the most expensive purchase you will make in your lifetime. Depending on what you will use your car for, how much you will drive it, and how long you expect to keep it, there are different financial strategies to consider in obtaining a car.

You might compare leasing versus taking out an auto loan to buy the car. You also should weigh the merits of buying a new versus a used car. You will find more on these, “Getting the Most for Your Money When Buying a Car.” Insurance strategy. A key part of your long-term financial plan is to make sure you, your family, and your major possessions are protected in case something unfortunate happens. That means finding the right kind of auto insurance, disability coverage, liability protection, health plans, homeowners policies, and life insurance.

To accumulate the $50,000 to $100,000 or more that it will take to put your children through four years of a good college over the next few years, you would have had to start planning—and saving—as soon as they were born. This takes a discipline that will pay off as they approach their freshman year. The later you start saving, the more you will need to invest each year to
end up with the same college kitty. In addition, it takes advance planning to understand and qualify for various kinds of student loan programs, both those offered by the government and those offered by individual schools.