How To Save Up To Buy A New Car…?
I’d like to know your opinion on how to pay off some bills before buying a new car.
In March, I’d like to buy a brand new car. I still owe money on the car I have now (please don’t tell me I shouldn’t get another car while owing on the one I have now, I know how bad that is). Anyways, should I pay off some of my other debts (credit cards, student loans, etc) in the meantime or focus on paying down the loan on the car I have now? Or should I do both?
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The thing to do, is pay down the credit you now have with the highest interest rate.
Student loans generally have a low rate, so pay them last.
Credit cards usually have the highest rate, so pay them before paying down your current car loan.
What I would suggest is to maintain a separate account for this and deposit some amount in the beginning of every month. This would help in covering u’r dream.Hope this would help.