{"id":277,"date":"2023-12-13T14:05:00","date_gmt":"2023-12-13T20:05:00","guid":{"rendered":"https:\/\/growbucksfi.com\/?p=277"},"modified":"2024-04-07T18:35:37","modified_gmt":"2024-04-07T23:35:37","slug":"dont-buy-into-yolo","status":"publish","type":"post","link":"https:\/\/growbucksfi.com\/2023\/12\/13\/dont-buy-into-yolo\/","title":{"rendered":"Don\u2019t buy into YOLO"},"content":{"rendered":"\n

This is the start of our list of don\u2019t do this:<\/h4>\n\n\n\n

Purchasing a high-end car as a young driver<\/em><\/strong> <\/p>\n\n\n\n

Young drivers do not need sports cars or other high-end cars. Of course, they want them but they are costly, insurance is high and more than likely they will be in an accident soon which the repair bill is going to be expensive too (even with insurance) and will cause insurance to increase as well. Usually these cars are marketed to the people who can barely afford them to think they are rich. There is nothing wrong with wanting one but do it when you can truly afford it. <\/p>\n\n\n\n

Not shopping around for auto insurance<\/em><\/strong> <\/p>\n\n\n\n

Speaking of insurance, you got to shop it. Go through various agencies and see who gives you the best rate that is most reputable. Yes, you can go with a broker, but be mindful of their fees, some charge a monthly fee on top of your premium and others will charge you an outrageous fee to \u201cre-shop\u201d your policy. Also keep in mind that bundling usually saves money, so combining policies is a great thing. <\/p>\n\n\n\n

Not understanding credit cards<\/em><\/strong> <\/p>\n\n\n\n

The rules of credit cards are stacked against you. One mess up and you can owe lots in interest and fees. Make sure you are paying the statement balance and not just the minimum payment to avoid interest. Some companies change the date monthly usually just by a day or so. Remember these companies make money when you carry a balance. They are doing everything they can to get you to mess up. The advantage of credit cards is the offer great fraud protection. Debit cards usually do not offer a lot of fraud protection. <\/p>\n\n\n\n

Not caring about retirement<\/em><\/strong> <\/p>\n\n\n\n

Realize that most likely social security is not going to be there when retirement happens, I am in my 40s and do not expect to have social security when I retire. Even if it is there, social security is not much. So, start early if you haven\u2019t started and are working, start now. I worked a lot of jobs that did not have a retirement plan. Then I had a job that automatically contributed, I wish I had done matching. Retirement income may be all you have by the time you reach retirement age.<\/p>\n","protected":false},"excerpt":{"rendered":"

This is the start of our list of don\u2019t do this: Purchasing a high-end car as a young driver  Young drivers do not need sports cars or other high-end cars. Of course, they want them but they are costly, insurance is high and more than likely they will be in an accident soon which the…<\/p>\n","protected":false},"author":1,"featured_media":803,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ub_ctt_via":"","footnotes":""},"categories":[8],"tags":[57,41,54],"class_list":["post-277","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-dont","tag-retirement","tag-spending"],"featured_image_src":"https:\/\/growbucksfi.com\/wp-content\/uploads\/2024\/04\/hd-Values.png","author_info":{"display_name":"Growbucks FI","author_link":"https:\/\/growbucksfi.com\/author\/jj1983\/"},"_links":{"self":[{"href":"https:\/\/growbucksfi.com\/wp-json\/wp\/v2\/posts\/277","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/growbucksfi.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/growbucksfi.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/growbucksfi.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/growbucksfi.com\/wp-json\/wp\/v2\/comments?post=277"}],"version-history":[{"count":0,"href":"https:\/\/growbucksfi.com\/wp-json\/wp\/v2\/posts\/277\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/growbucksfi.com\/wp-json\/wp\/v2\/media\/803"}],"wp:attachment":[{"href":"https:\/\/growbucksfi.com\/wp-json\/wp\/v2\/media?parent=277"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/growbucksfi.com\/wp-json\/wp\/v2\/categories?post=277"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/growbucksfi.com\/wp-json\/wp\/v2\/tags?post=277"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}