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You’ve in all probability heard that you should purchase a used automobile as a substitute of a brand new one. But used automobile costs surged 27% from early 2021 to early 2022. Does that recommendation actually make sense for everybody?
We hear lots about what the “specialists” suggest, however does it make sense for you? Today we’ll check out some “widespread sense” monetary recommendation and discuss whether or not we expect it’s a good suggestion.
As normal, co-hosts Stacy Johnson and Miranda Marquit are joined by producer Aaron Freeman.
Remember, though we generally discuss particular investments on this present, by no means take them as suggestions as a result of they’re not. Before investing in something, do your personal analysis, and make your personal selections.
You can watch this episode beneath, or in the event you’d want to pay attention, you are able to do that with the participant on the high of this text. Or, you’ll be able to obtain the episode wherever you get your podcasts:
Don’t overlook to take a look at our podcast web page for extra episodes designed that will help you benefit from your cash and our YouTube web page for extra movies.
What are some widespread monetary guidelines of thumb that may not work?
We hear lots about completely different guidelines of thumb, from by no means shopping for a brand new automobile to saving 10% of your revenue for retirement. But like a lot in private finance, these guidelines aren’t one-size-fits-all. In truth, Stacy, Miranda and Aaron usually ignore such recommendation and do what works for them.
Here are some assets on guidelines of thumb and what they imply. Take what you study with a grain of salt. Financial guidelines is usually a good place to start out, however you wish to tweak them to your wants.
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About the hosts
Stacy Johnson based Money Talks News in 1991. He’s a CPA, and has additionally earned licenses in shares, commodities, choices principal, mutual funds, life insurance coverage, securities supervisor and actual property.
Miranda Marquit, MBA, is a monetary skilled, author and speaker. She’s been masking private finance and investing matters for nearly 20 years. When not writing and podcasting, she enjoys journey, studying and the outside.
Disclosure: The data you learn right here is at all times goal. However, we generally obtain compensation if you click on hyperlinks inside our tales.