In today’s post I am going to answer the question on how to save money fast for a car. It’s that time in your life that you are starting to think about buying a car but have no clue on how to go about saving the money. If you find this post helpful then consider sending it to a friend that could also benefit.
1) Get A Job!
Yes, you have 99.99% have already heard this from a family member and now its coming from me (a person on the internet). If you are thinking about getting a car than the first thing that needs to happen is to find a job. Dealerships want to see that you have a steady income and are able to pay for what you want to get (unless you buy from shady places).
Another obvious thing about having a job is you have income that you are able to save for the car you want.
2) Open Up A Credit Card
The next thing that you will need to do is open up a credit card (unless you listen to Dave Ramsey). Do small purchases and put it on your card. when it comes time for the payment due, make sure that you pay it all in full. Doing all this will help you build credit and you won’t have to worry about missing a payment. You don’t want to deal with the interest you’ll have to pay if late.
When you go to buy a car, the dealership will see that you are good with paying off credit cards and a higher credit score will lower the monthly payment.
3) Save Everything You Get
If you are getting paid from your job, chores around the house, birthday money, etc then make sure that you save all of it! The goal is to save money fast for a car and the way to hit that goal is not spending any money that you get. Once you can do that, you’ll see how fast your savings will increase within a month.
Yes, I know that you might want to go out and spend some money (which is understandable), but make sure that you limit the amount that is reasonable and will affect the goal of saving it.
That is basically all you would have to do in order to save money fast for a car. I wanted to give you 3 simple steps to follow because making it complicated doesn’t motivate anyone. I hope that reading this short post has given you some quick insight and motivation to follow all 3 steps. It’s not hard to accomplish, but getting started can be a uphill battle.
I hope that you found this blog post useful and don’t forget to send it to a friend that will also benefit. Thanks for Supporting The Finance Starter and check out other post that I’ve written below.