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I used to put $50 of gas in my Nissan Frontier weekly. Now I'm putting about $35-$40 in my hybrid Maverick every other week. Financially I've kept the same routine; except I put $45 in the tank every other week and $50 in Apple stock every other week. At the end of the year I will have put $1,300 (26 x $50) into Apple stock. If Apple stock increases at 20% (about average for Apple), that would be $1,430 after 1 year. At the end of 3 years, I will have put in $3,900, and it would be worth roughly $5,205. At the end of 4 years I'd have $7,676; and at 5 years I'd have $10,641.
And it's all because I just kept doing what I was doing before but putting the money in a different place. If you don't want to put it in Apple, put it in Microsoft, or AMD, or a high yield CD, or a college fund. The point is, be smart with your money. I'm paying the same for my Maverick as I was for my Frontier. So I've reduced my repair amount to almost $0 for 3 years (due to the warranty) and not increased my monthly payment, AND I'm saving $1,300/year.
You can setup an account with a company like Vanguard or Schwaub online (I'm not affiliated with either) and link it to your bank account and transfer money manually every other week. IT'S DOABLE!! Even if you just stuck $1,300/year in savings, you'd have $6,500 + interest saved up after 5 years. No stock is guaranteed to go up, but be smart and do something financially wise for a change!! The hybrid gives you an excellent opportunity to do that!
***************************** February, 2023 Update ***************************
I entered a comment below, but the $630 I haven't spent on gas every other week is now worth about $950 in AMD stock (I switched from Apple to AMD stock early on). Y'all can do this. Just pick safe stocks or high yield savings accounts.
***************************** February, 2024 Update ***************************
I dropped to saving $80/month, because gas has dropped to about $3.50/gal. After 19 months I've put about $1,522 ($80 * 19 = $1,522) into my investment account. It's grown to about $3,669 (invested in AMD & NVidia). If I played it safe and had put it in a savings account getting 3% interest, it would still be worth about $1,542.
And it's all because I just kept doing what I was doing before but putting the money in a different place. If you don't want to put it in Apple, put it in Microsoft, or AMD, or a high yield CD, or a college fund. The point is, be smart with your money. I'm paying the same for my Maverick as I was for my Frontier. So I've reduced my repair amount to almost $0 for 3 years (due to the warranty) and not increased my monthly payment, AND I'm saving $1,300/year.
You can setup an account with a company like Vanguard or Schwaub online (I'm not affiliated with either) and link it to your bank account and transfer money manually every other week. IT'S DOABLE!! Even if you just stuck $1,300/year in savings, you'd have $6,500 + interest saved up after 5 years. No stock is guaranteed to go up, but be smart and do something financially wise for a change!! The hybrid gives you an excellent opportunity to do that!
***************************** February, 2023 Update ***************************
I entered a comment below, but the $630 I haven't spent on gas every other week is now worth about $950 in AMD stock (I switched from Apple to AMD stock early on). Y'all can do this. Just pick safe stocks or high yield savings accounts.
***************************** February, 2024 Update ***************************
I dropped to saving $80/month, because gas has dropped to about $3.50/gal. After 19 months I've put about $1,522 ($80 * 19 = $1,522) into my investment account. It's grown to about $3,669 (invested in AMD & NVidia). If I played it safe and had put it in a savings account getting 3% interest, it would still be worth about $1,542.
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