Joel covered a lot this week, so here's a quick outline of what you need to know to get yourself on your way to financial happiness:
Stat of the Week: Consumer Reports says that it costs around $406 annually to repair a 10-year-old vehicle. For most car repairs in that general area of cost, it's best to just pay for the repair.
But what if it's more than that? Something like a $5,000 repair for transmission or engine issues on an older vehicle? In that case, it may be best to check how much your car is worth on a site like Edmunds. If the cost of the repair is more than half of what the car is worth, then sell the car for as much as you can.
And in terms of buying a new car? If you have the money and can finance it, then that's something you can obviously do with your money. However, if you're extending your car loan to 6 or more years, then look into finding cheaper alternatives such as a used car.
Money Move of the Week: With it being tax season, it's a good idea to get a Pin Number from the IRS. This way, you will protect yourself from someone else taking your tax refund while pretending they're you. If you want to get a Pin Number for yourself, go here.
How You Can Find Deals! Instead of scouring Google for deals, Joel recommends a few sites to help you save money when you're looking to buy something:
Finally, with more and more Americans living paycheck to paycheck. If you're in this position, it may seem like you'll never get out. However, with some discipline, hard work, and patience it is possible. If you need help with budgeting, check out the site youneedabudget.com. It may cost money, but it really helps people save a lot of cash really quickly.
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