You want to buy a new car, but economic conditions do not allow? Do not worry, apply immediately useful ways to save money that I want to introduce to you through the article below.
Today, cars are a reasonably necessary vehicle for every home. Buying a house and buying a car are two essential things for all young people today. However, the current market price of cars is quite high.
You want to buy a new car, but economic conditions do not allow? Do not worry, apply immediately useful ways to save money that I want to introduce to you through the article below.
To get the right car, good quality, and warranty for each tire, you need a large amount of money. You also need to purchase the best auto insurance. For a life that needs capital for everything today, creating a budget to buy a new car is quite tricky. I have a few tips for you after a lot of research and learning from the experience of a car buyer.
Automatic deduction of wages to bank accounts
When you receive your monthly salary, you will quickly spend unnecessary expenses if you don't plan. Automatic deduction of wages to bank accounts will help you save money.
Most banks now have a service that automatically extracts an amount from your spending account to transfer to a term savings book with a higher interest rate. It is very convenient if you open a savings book at the bank where you receive your monthly salary.
If you have a definite savings goal, for example, in the next one year, you need VND 50 million; you only need to divide this number by 12 to determine your monthly deduction.
Don't set deductions that are too high for your monthly income, only set about 20 to 25% of your total income — a balance between spending the essentials in your life and saving money. Setting up a bank account to put in monthly and naming it as savings to buy a car will be the motivation for you.
Break down the amount you earn monthly
Design your budget. Besides the usual expenses such as food, rent, shopping, a small item is the budget for new cars. Each month when you get paid, divide a part into it. Besides, it would be best if you used spending books or apps to control your spending.
Planning spending is the key to getting a new car. If you don't have a spending plan, your expense will often be out of control. You will spend the money you have to pay for the unnecessary and ineffective in your life.
When you create your spending notebook, write down what you need to spend and how much you earn. This book will help you uncover your spending habits and correct your mistakes.
In addition to the indispensable monthly spending items such as utility bills, meals, rent, and shopping bills, you'll know how much you can spend every month to save on your new car purchase.
Putting the new style pig
Try our childhood saving games and lessons differently. You don't need to buy a piggy bank, nor do you need a jar or money box, as long as your wallet has more than one compartment for money (probably a chamber with a tight zipper).
Get into the habit, every time you spend money to do anything, put in this secret compartment a small fixed amount. That is a minimal amount and almost no significant influence, but you try to calculate, if every day you save some money and forget it, after one year how much you will have?
Do not borrow, if debt, pay early.
If this is not a force majeure situation, do not borrow it, especially from a bank. If you are not good at calculating and can turn money into profit, borrowing means debt, and it also means that you will not be able to save yourself until the debt paid off.
When you borrow, you create a habit of always owing to others. It is a bad habit and should not be maintained. Try to spend as much as you can afford every month. It is both an excellent habit to help you control your spending and to help you make healthy and emotional friendships.
For credit card balances, pay within the due date if possible to avoid bank interest rates; If payment is past due, please try to pay as soon as possible. It is best never to let yourself fall into credit card debt. It is a double-edged sword that harms your spending habits.
Think before you spend
It would be best if you re-evaluated your current expenses to optimize recurring costs, which may take a little initial effort. Still, once you get in the way, you don't even remember that you are saving a lot of money compared to before.
Always remember, Don't rush to spend money before thinking about it. Make a habit of asking yourself about the need to spend money to shop, maybe ask a few more people to help strengthen if you still can't convince yourself.
A little note to help you: When you like an item, leave it for two weeks without thinking about it. After two weeks, you will find it no longer attracts you so. If the thing works for you, buy it after two weeks!
Select the car that suits your affordability
What is a suitable car? This car should be within your affordability as the first note. Check your affordability and look for excellent cars in that price range. Please note that price is essential, but the quality of the car is even more critical. Do not forget to pay attention to the tires for your vehicle.
Tires are one of the best vehicle evaluation factors because tires are most susceptible to damage. In situations where there is not too much money to buy a perfect car, spend money to buy a car with a sound tire system.
Conclusion
Buying a new car is not an easy thing. Spending correctly and setting aside a budget for a new car is what you should do. Do not forget the importance of the tires! If you have experience of how to budget for a new car, please share it with us. Stay tuned for our next posts.
