http://www.ncnblog.com/2007/05/03/using-my-emergency-fund-to-buy-a-car-how-to-buy-a-10000-car-for-7800/ Debt Reduction Rocks - We Are Living Debt Free! Fri, 10 Feb 2012 00:09:10 +0000 hourly 1 http://www.ncnblog.com/2007/05/03/using-my-emergency-fund-to-buy-a-car-how-to-buy-a-10000-car-for-7800/comment-page-1/#comment-215452 The Carnival is Up! Thu, 10 Feb 2011 19:58:08 +0000 http://www.ncnblog.com/2007/05/03/using-my-emergency-fund-to-buy-a-car-how-to-buy-a-10000-car-for-7800/#comment-215452 [...] a look if you have a chance. Here are a few in addition to those Golbguru has chosen to feature.* Using My Emergency Fund To Buy A Car (How To Buy A $10,000 Car For $7800!) from No Credit Needed * What Does it Mean to Pay Your Credit Card Balance in Full? at Clever Dude * [...] [...] a look if you have a chance. Here are a few in addition to those Golbguru has chosen to feature.* Using My Emergency Fund To Buy A Car (How To Buy A $10,000 Car For $7800!) from No Credit Needed * What Does it Mean to Pay Your Credit Card Balance in Full? at Clever Dude * [...]

]]> http://www.ncnblog.com/2007/05/03/using-my-emergency-fund-to-buy-a-car-how-to-buy-a-10000-car-for-7800/comment-page-1/#comment-22523 Living Behind The Curve » An Emergency Fund in Action: Our $500 Weekend Mon, 09 Jul 2007 09:11:43 +0000 http://www.ncnblog.com/2007/05/03/using-my-emergency-fund-to-buy-a-car-how-to-buy-a-10000-car-for-7800/#comment-22523 [...] away. What I don’t see a lot of is emergency funds being used for, you know, emergencies. (A planned car purchase is not an emergency.) Maybe they don’t have many emergencies, or perhaps personal finance [...] [...] away. What I don’t see a lot of is emergency funds being used for, you know, emergencies. (A planned car purchase is not an emergency.) Maybe they don’t have many emergencies, or perhaps personal finance [...]

]]> http://www.ncnblog.com/2007/05/03/using-my-emergency-fund-to-buy-a-car-how-to-buy-a-10000-car-for-7800/comment-page-1/#comment-12410 Customers Revenge Tue, 15 May 2007 13:51:02 +0000 http://www.ncnblog.com/2007/05/03/using-my-emergency-fund-to-buy-a-car-how-to-buy-a-10000-car-for-7800/#comment-12410 Reread my comment ... I don't want anyone to think I'm insulting NCN. What I'm saying is that I disagree with the concept of saving as a way to earn money. Buying the car is fine, and saving for it or taking a loan is certainly required for most of us. However the strategy of buying a $10K car for under $8K by saving is what I think needs to be analysed a little more; $10K will be spent at the time of purchase and every penny will be earned through a sacrifice of some sort. Reread my comment … I don’t want anyone to think I’m insulting NCN. What I’m saying is that I disagree with the concept of saving as a way to earn money. Buying the car is fine, and saving for it or taking a loan is certainly required for most of us. However the strategy of buying a $10K car for under $8K by saving is what I think needs to be analysed a little more; $10K will be spent at the time of purchase and every penny will be earned through a sacrifice of some sort.

]]> http://www.ncnblog.com/2007/05/03/using-my-emergency-fund-to-buy-a-car-how-to-buy-a-10000-car-for-7800/comment-page-1/#comment-12352 Customers Revenge Tue, 15 May 2007 01:42:37 +0000 http://www.ncnblog.com/2007/05/03/using-my-emergency-fund-to-buy-a-car-how-to-buy-a-10000-car-for-7800/#comment-12352 Time value of money is a critical part of the analysis here. A savings strategy is worthless in general simply because of TVM. By worthless I mean you aren't really profiting. Savings is just "waiting until you have enough". The other missing part is the real world trade-offs you will make to save the money and purchase the car. I wrote a longer response on <a href="http://www.customersrevenge.com/node/76" rel="nofollow">The Real Value of Money</a> but the main thesis is that one should remember time and enjoyment of money is not free. You can make anything worth huge amounts or money, or very little simply by changing the way you present the calculations and what costs or benefits you count or don't. Take the measurements against things you value, not apparently free money. Time value of money is a critical part of the analysis here. A savings strategy is worthless in general simply because of TVM. By worthless I mean you aren’t really profiting. Savings is just “waiting until you have enough”. The other missing part is the real world trade-offs you will make to save the money and purchase the car. I wrote a longer response on The Real Value of Money but the main thesis is that one should remember time and enjoyment of money is not free. You can make anything worth huge amounts or money, or very little simply by changing the way you present the calculations and what costs or benefits you count or don’t. Take the measurements against things you value, not apparently free money.

]]> http://www.ncnblog.com/2007/05/03/using-my-emergency-fund-to-buy-a-car-how-to-buy-a-10000-car-for-7800/comment-page-1/#comment-11961 Planning your Purchases Far, Far in Advance Fri, 11 May 2007 13:58:20 +0000 http://www.ncnblog.com/2007/05/03/using-my-emergency-fund-to-buy-a-car-how-to-buy-a-10000-car-for-7800/#comment-11961 [...] Compounding Interest Week continues, I’d like to highlight some very smart thinking by No Credit Needed. He’s planning his next car purchase now and saving money each month for it in a [...] [...] Compounding Interest Week continues, I’d like to highlight some very smart thinking by No Credit Needed. He’s planning his next car purchase now and saving money each month for it in a [...]

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