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Money trap 5: Spending more than one year income on a new car

Saturday, May 13, 2017, 8:50 AM

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.
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