Four Tricks to Save for the Car of Your Dreams

Cars can not only be pricy investments, they can be life-changing ones. In addition to serving the basic purpose of getting from place-to-place, they can be identified as signs of status and personality indicators that say something about you, before the first word even leaves your mouth. With your car meaning so much in both a social and commuting sense, they can help you get to your destination both figuratively and literally.

Don’t feel like your dream car is out of reach.  Use these four tips among others to finally put those dreams to fruition. Every goal needs to begin somewhere, don’t wait another minute to start yours and roll around in your dream ride sooner than you ever expected to.

Tip One: Avoid Wasteful, Unnecessary Purchases.

Although the goal of owning your dream car is an achievable one, it’s not something that will come easy. Depending on what kind of vehicle you’re in the market for, prices can fluctuate from $1,000-$60,000+. These figures are by no means small and will require diligent saving strategies, with a disciplined  mindset. To ensure that you meet your end goal it’s important to cut out any unnecessary purchases that can make a dent in your savings before you even start really making headway towards your purchase.  Some of the items or purchases that may fall under this category include: new electronics when the ones you own work fine, overly-lavish vacations and trips and daily expenditures that can quickly add up ( For example a Starbucks latte or going out for lunch every day.) While difficult, these small sacrifices will get you to your goal exponentially quicker than chipping away at what you save everyday.

Tip Two: Use an Online Search Tool

Before committing to anything on the financial side of things, it’s important to know where you want to end up. Whether it’s that new BMW or Camaro with a few years on it, having something specific in mind with an ideal price-range is key. To get an idea of what’s right for you, visit Cars.com to take a look at the widest selection of new and used cars on the web. Cars.com is one of the countries trusted leaders in used and new vehicles of all makes and models. This seemingly endless database of vehicles not only gives yourself a clearer idea, but also makes that finish line seem more achievable. Knowing that your dream-car is right there for the taking can be some of the best motivation.

Tip Three: Treat Yourself (In Moderation)

Although being frugal and smart with the choices you make is the priority, it’s important to have fun and spend…on occasion. Being too rigid and up-tight can make your goal seem like a never ending task, increasing the possibility of an impulse, big-money transaction that may feel ‘well deserved.’ While these splurges are indeed well deserved for your weeks, months, maybe years of diligence, it’s important to be mindful of the light at the end of the tunnel. To avoid these potentially costly mistakes, it’s important to spend some money here for yourself. Whether it be a nice dinner, or a small trip, gestures like these to yourself may seem trivial and unnecessary but they allow mini mental and physical breaks from the tolls that saving for a goal like this can bring.

Tip Four: Invest Small

The road to your perfect car will have some bumps in it and things may not always be linear. Things cost money and your savings will takes hits here and there whether they be by choice or not. To either compensate for this or to get your dream ride quicker, invest portions of your savings into small, consistent stocks. This can not only turn your funds into more, it also serves a dual purpose putting the money away and avoiding potential impulse purchases.

These tips in combination with money saving techniques you already know will put you in your dream car in no time. Not only will you be cruising in the ride that had only existed in fantasies and daydreams, you will be saying something about yourself right off the bat, making a first impression that can’t be beat.

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