Is Your Car a Wealth-Slayer?
Is your car a “wealth slayer”?
Did you know a car can kill your financial freedom? New vehicle prices and interest rates are way up, adding to the cost of financing a car. The average loan is nearly six years and average payments surpassed $700 a month for the first time ever. People, this should not be the norm! When you drive a used vehicle, you can steward car payments in ways that can earn you money – rather than costing you financial freedom! Instead of a car payment, you could save, invest, or increase your charitable giving! It’s time to think long-term and get practical. Cars are not appreciating assets unless you’re investing in rare models. They’re simply a mode of transportation. Get a dependable model and be content. Keep up with the routine maintenance and be grateful for what you have. Steady plodding builds prosperity and it grants you freedom that few in America are enjoying.
I have a friend who can afford to drive whatever he wants. He chooses to drive an old Yukon with over 300,000 miles. When the AC started acting up, he thought, “Well, I guess it’s time to start looking for another car.” One day it finally went out. Instead of driving to a dealership, he prayed, and guess what, the air came back on! He is still driving that old Yukon today! I want to issue you a challenge. Get rid of your wealth-slaying car payment and begin a new path. Find financial freedom by wisely stewarding what God provides.
And if you have challenging levels of credit card debt. I highly recommend Christian Credit Counselors. They can create a debt management plan that works for you. For more information call the Crown Helpline: 800-722-1976 or visit us online at crown.org/ccc