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WHAT EVERY WOMAN SHOULD KNOW ABOUT BUYING A CAR  by: Trudy Palmer What if there was a way to buy a car and increase your standard of living at the same time? There is... My partner and I bought a brand new car because we wanted to increase our monthly income. Huh? That doesn’t make sense! Buy a brand new car to increase your income? Usually buying a brand new car means that your disposal income goes down not up. Hmmm, financial literacy is a dangerous thing. It all began with a shift in thinking. The key is to understand the difference between assets and liabilities and to have your assets PAY for your liabilities, so you don’t have to. Have you ever noticed that when you apply for a loan, the bank tells you that your car is an asset? Under the true definition of assets and liabilities, anything that takes money out of your pocket is a liability. So, not only were our cars liabilities, but they were taking more money out-of-our-pockets every month just to keep them running. Both my partner and I owned older vehicles, which were starting to break down more often. Then a light bulb went on. What if we could unlock the money we had tied up in our cars and buy a brand new car without lowering our lifestyle but actually increasing it? That’s exactly what we did. We sold our cars and used the money to buy income-producing assets, which more than covered the payment on our brand new car. It is a sweet little car that comes loaded including leather interior. Not only is the payment covered, but we also managed to take advantage of the 0% financing for five years deal, so every dollar goes towards paying the car off. At the end of five years: The car will still be paid off. We will still have the money from the sale of our older cars, which may even have INCREASED in value. We will have an income stream in addition to our existing income. We did not have to lower our standard of living or work harder or longer to come up with the car payment month after month. What else could you apply this strategy to - anything that you would spend a chunk of money for. So, the next time you’re thinking about buying a car or some other "liability", consider if there might be a better way. About The Author Trudy Palmer has a solid background in financial services and is the author of numerous books and articles. Trudy is also the co-founder of betterways.net which is the only company to carry the extremely popular book called "How to Become Financially Free In One Year Or Less" located at http://www.betterways.net/rd/ac.html admin@betterways.net This article was posted on September 29, 2002   Read More Articles from the "Women" Category: Pearl Jewelry: The Epitome of Elegant Simplicity by Sam Serio Learn How to Shower To Keep Your Skin Healthy by Rudy Silva Leather Wallets - Many Options, Singular Style by Adam Justus Staying in Shape Over 40 - What You Need to Know by Megan Hazel Underwire Bras Can Prevent Pain, Sagging And Fatigue! by Kalwant Rana How to Stop the Destruction of Collagen by Therese Higgins Rekindling An Old Flame by Dr Nancy Kalish Proactive Facial Cleanser For Acne by M.D. Stacener Make Gift Baskets For Fun & Profit by Lisa Maliga Easy Time Saving Tips For Busy Moms by Aurelia Williams << Back to "Women" Index

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