Why a 29-year-old who made $132,000 in one month still drives a 14-year-old car. via CNBCMakeIt
After paying off $40,000 in student loans with his wife, Bobby Hoyt quit his job as a teacher three years ago to focus on his personal finance blog, Millennial Money Man, and online entrepreneurship venture, Laptop Empires, full-time. Now, things are truly starting to take off.
Rather, the simplest reason he chooses to stick with his older model is because it he doesn't care about what kind of car he drives as long as it works."I'm not embarrassed to drive an old car, and I certainly don't care if anyone thinks I 'should' be driving a newer one," he writes. Orman recommends thinking of a car as a utility."One of the best ways to build financial security is to spend the least amount possible on a car that meets your needs," she says."Forget about the bells and whistles you want. Paying less helps you pay off the car faster."
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