250 a month up until retirement. Would you guess that by the time this teenager retires at 65 years old, having only contributed $250 a month, he or she would have $6,953,778.85. That is a huge nest egg to retire on just because they decided early in life to not have a car payment.

It is amazing how powerful our income truly is. If a simple $300 a month turns into more than a million dollars over the course of 30 years, how much are all your monthly debts costing you in lost opportunities?

You do not have to buy and drive junker car

What is your car payment costing you in lost opportunities? Even with a $300 a month car payment the numbers can be astounding. This is not like your average car payment calculator.

For the sake of true car payment calculation, lets assume you had a $300 a month car payment and every 2 or 3 years you just kept trading it in for another car of about the same payment per month.

The upside is that you would always have a brand new car every two or three years, but there is a tremendous downside you have not considered.

What if instead of buying a brand new car, you went and bought a cheap $3,000 car with cash and invested the money that you would have made in car payments.

Every two or three years you could simply buy another cheap car with cash so you would never have a car payment again.

Instead of sending $300 a month to a car payment, you take your $300 a month that you would have used to pay a monthly car payment and you place it in a great mutual fund or other investment that grows 12% a year.

If you did this for 20 years you would wind up with $303,012.14 at the end of just 20 years. If you were able to do this for 30 years you would have $1,069,759.02. That is well over a million dollars you would have for simply not having a car payment. No car payment calculator can show you that.

This does not even consider how much other extra money you have invested. This is just a simple $300 a month car payment turned into an extra investment.

If instead of buying that brand new truck or SUV at $400 a month payment, consider the numbers with that amount. After 20 years of investing $400 instead of sending it to the car company you would have $404,016.19 and after 30 years that number would be $1,426,345.37.

Plus, you will rack up a huge amount of savings in cheaper insurance costs.

Imagine a teenager at 18 years old wanting to buy a new car for college. They want to get one that is fairly modest with a payment of $250 a month. Consider instead, that the teenager bought a cheap $2,000 car and decided to invest the $250 a month from that point on.

The teenager never added anything more than $250 a month up until retirement. Would you guess that by the time this teenager retires at 65 years old, having only contributed $250 a month, he or she would have $6,953,778.85. That is a huge nest egg to retire on just because they decided early in life to not have a car payment.

It is amazing how powerful our income truly is. If a simple $300 a month turns into more than a million dollars over the course of 30 years, how much are all your monthly debts costing you in lost opportunities?

You do not have to buy and drive junker cars

f instead of buying a brand new car, you went and bought a cheap $3,000 car with cash and invested the money that you would have made in car payments.

Every two or three years you could simply buy another cheap car with cash so you would never have a car payment again.

Instead of sending $300 a month to a car payment, you take your $300 a month that you would have used to pay a monthly car payment and you place it in a great mutual fund or other investment that grows 12% a year.

If you did this for 20 years you would wind up with $303,012.14 at the end of just 20 years. If you were able to do this for 30 years you would have $1,069,759.02. That is well over a million dollars you would have for simply not having a car payment. No car payment calculator can show you that.

This does not even consider how much other extra money you have invested. This is just a simple $300 a month car payment turned into an extra investment.

If instead of buying that brand new truck or SUV at $400 a month payment, consider the numbers with that amount. After 20 years of investing $400 instead of sending it to the car company you would have $404,016.19 and after 30 years that number would be $1,426,345.37.

Plus, you will rack up a huge amount of savings in cheaper insurance costs.

Imagine a teenager at 18 years old wanting to buy a new car for college. They want to get one that is fairly modest with a payment of $250 a month. Consider instead, that the teenager bought a cheap $2,000 car and decided to invest the $250 a month from that point on.

The teenager never added anything more than $250 a month up until retirement. Would you guess that by the time this teenager retires at 65 years old, having only contributed $250 a month, he or she would have $6,953,778.85. That is a huge nest egg to retire on just because they decided early in life to not have a car payment.

It is amazing how powerful our income truly is. If a simple $300 a month turns into more than a million dollars over the course of 30 years, how much are all your monthly debts costing you in lost opportunities?

You do not have to buy and drive junker car

up with $303,012.14 at the end of just 20 years. If you were able to do this for 30 years you would have $1,069,759.02. That is well over a million dollars you would have for simply not having a car payment. No car payment calculator can show you that.

This does not even consider how much other extra money you have invested. This is just a simple $300 a month car payment turned into an extra investment.

If instead of buying that brand new truck or SUV at $400 a month payment, consider the numbers with that amount. After 20 years of investing $400 instead of sending it to the car company you would have $404,016.19 and after 30 years that number would be $1,426,345.37.

Plus, you will rack up a huge amount of savings in cheaper insurance costs.

Imagine a teenager at 18 years old wanting to buy a new car for college. They want to get one that is fairly modest with a payment of $250 a month. Consider instead, that the teenager bought a cheap $2,000 car and decided to invest the $250 a month from that point on.

The teenager never added anything more than $250 a month up until retirement. Would you guess that by the time this teenager retires at 65 years old, having only contributed $250 a month, he or she would have $6,953,778.85. That is a huge nest egg to retire on just because they decided early in life to not have a car payment.

It is amazing how powerful our income truly is. If a simple $300 a month turns into more than a million dollars over the course of 30 years, how much are all your monthly debts costing you in lost opportunities?

You do not have to buy and drive junker car

investing $400 instead of sending it to the car company you would have $404,016.19 and after 30 years that number would be $1,426,345.37.

Plus, you will rack up a huge amount of savings in cheaper insurance costs.

Imagine a teenager at 18 years old wanting to buy a new car for college. They want to get one that is fairly modest with a payment of $250 a month. Consider instead, that the teenager bought a cheap $2,000 car and decided to invest the $250 a month from that point on.

The teenager never added anything more than $250 a month up until retirement. Would you guess that by the time this teenager retires at 65 years old, having only contributed $250 a month, he or she would have $6,953,778.85. That is a huge nest egg to retire on just because they decided early in life to not have a car payment.

It is amazing how powerful our income truly is. If a simple $300 a month turns into more than a million dollars over the course of 30 years, how much are all your monthly debts costing you in lost opportunities?

You do not have to buy and drive junker car

250 a month up until retirement. Would you guess that by the time this teenager retires at 65 years old, having only contributed $250 a month, he or she would have $6,953,778.85. That is a huge nest egg to retire on just because they decided early in life to not have a car payment.

It is amazing how powerful our income truly is. If a simple $300 a month turns into more than a million dollars over the course of 30 years, how much are all your monthly debts costing you in lost opportunities?

You do not have to buy and drive junker cars all your life. Simply set money aside a small amount of money each month and upgrade every year with cash. You will find yourself driving a decent car within a few years. Life truly is better with no car payments.