I want to learn more about cars so I thought i would join some social networks to learn.

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In financial world, all objects are viewed weather they are assets or liabilities.

Types of Assets : Real estate, stocks, commodities(metals, grains etc), cash, bonds , mutual funds and so on

Types of liabilities : debt, insurance premiums, maintainance expenses and so on...

Where does your car goes? It goes into Assets and it is treated as depreciating asset (unless in it is one of those vintage cars).

So what does this mean? both assets and liabilities are either appreciating or depreciati… Continue

Most financial problems are related to mismanagement of income and Incorrect financial decisions. Lot of people tend to buy cars with $300/m payments for 5 yr they but don't opt to buy a fully paid $10000.00.

Buying car with debt is not a good choice in most cases. Paying double digit interest is scary stuff while dealing with depreciating asset.

Listening to Dave Ramsey's podcasts, most of people go for cars that are too expensive relative to their income. It is often a good idea to drive a $… Continue

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