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Tip 1

Save - Start on the right path by learning how to spend less than you make.
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Pay Yourself First - take an amount out of each paycheck and put it in a savings account.
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Tip 3

Big Purchases - save the money first to avoid credit card debt.
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Cars: Buy or Lease

Buy or Lease

Ever wonder which option was better? To buy or lease or take public transportation.

Taking public transportation is always cheaper than having to own or lease your own car, but there are so many downfalls. Buses can run late, even if they don't you may still have to walk to your ultimate destination. There is nothing like owning your own car....It's yours, but its expensive. Leasing is very appealing. You usually place a down payment and pay the first months payment and a security deposit. Some dealers even allow you to buy the care afterwards, but be cautious, this, in most cases, will end up costing more than if you just bought the car in the first place.

So here are the facts and benefits of each:

LEASE:
Leasing a car is significantly cheaper than buying it, but like renting an apartment at the end of the term, you have nothing to show for all the money you shoveled out to the lessor.

You don't have to worry so much about repairs and maintenance; this is typically covered in the lease with a warranty.

The contract for leasing is a bit more complicated. There are many provisions and every uh-oh is charged to you once you return the car.

BUY:
Buying a car in more expensive initially, but at the end of all the payments you have your car that you own. So the money you shoveled out has a tangible item to back it up.

You have to maintain and repair your car on your expense when the warranty is up provided you purchased one.

The contract for buying a car is typically simpler, you agree on a payment that encompasses certain facets and that's what you pay.

Check out these articles to find out more information:

Should your lease or buy a car? CNN

Should you buy or lease a car? HowStuffWorks

-read the subsequent articles, they are really helpful

Personally, I would save up and buy a car rather than lease it. It is an investment and if you take care of your car you will be able to cash it out later for an upgrade or some other pressing need.

But there are advantages of leasing. Check this article out if you're interested in leasing and want to know the facts.

Five myths about leasing

Think about it and research it before you do anything!