Money trap 5: Spending more than one year income on a new car
Saturday, May 13, 2017, 2:20 PM
The car you buy should satisfy a need not a want. You buy a car to travel from point A to point B. The car serves your basic transportation need. Why waste money on a high-end car, which blows a hole in your pocket? You can easily afford to buy a brand new car, which costs not more than 40%-50% of your annual income.