So the car is paid off... now what???
By kendria21
@kendria21 (20)
United States
August 19, 2010 7:54pm CST
Ever wonder where that extra 300-500 dollars goes when you are done paying off your car? I am in that situation right now. I finished paying off my car back in June and I haven't been able to tell where that car payment money is going. At first I thought I would invest it or place it into one of my savings account or even put it into a college fund for my younger children, but I can't seem to figure out where that money went. I don't have any extra expenses (none that I can clearly point out), so I'm stuck wondering.... Anyone else ever been in this situation? If so, what did you do to recover the money?
1 response
@Iequate2 (280)
• United States
20 Aug 10
Hello kendria,
If you really want to know where the money is going, stay
on the budget. Act as if you must pay your car note.
Put the money into a credit union savings account.
Because, you may begin to experience the usual problems
of older cars, the starters, batteries, and alternators
tend to go out first.
With today's high prices, it is easy to see why you
can't see where the money is going. Keep a list.
Try saving the car note money at least every other month
for rainy days. :)
