The amount of monthly expenditures that I am paying for my car amounts to over $1000 monthly. This includes petrol, installments, road tax, parking and insurance.
Buying a car was definitely one of the worst financial decisions in my life and has truly slowed down my aim to achieve financial freedom.
For those who have yet to purchased a car, remember this:
" A Car is A LIABILITY!"
Absolutely agree with this. But our government "forces" us to take this route, as we are not qualified for the cheaper HDB flats (single or not wanting to get married that enables me to buy a property earlier). Car is the next easiest thing to lay our hands on. Looking back, if I had not got that Euro3 turbo diesel van (for personal use and with one of the lowest road tax and fuel cost) and invested the $$, perhaps I will be a very happyman now. lost over $20k over 3 years. Just like that.....
ReplyDeleteJimmyN