Oct 062011
 

cash is kingIf cash is king than why are some people willing to give it away for a depreciating asset like a new or near-new car? Then, they accuse those of us who lease cars of not being frugal enough with our money? What’s up with that? It is precisely because cash is king that it makes no sense to deplete your bank account.  Life is temporary  and nothing we have can be owned forever. Would any of us pay cash up front for a life insurance policy while not knowing how long it will be needed? Life is full of uncertainties and so it makes sense to pay as we go. I really get annoyed when the so-called, financial experts like Suze Orman advise people against taking on reasonable and affordable monthly loan payments for useful luxuries in life like cars. Yes, there is a such thing as taking on car payments one cannot afford, but is that any less responsible than putting a big chunk of cash down on a used car which is bound to present repair bills?

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 Posted by at 1:18 pm