All Sales Final!

All sales final! That is the mentality that we need to have when making every purchase, even big ticket items. That means the transaction ends at the register. Any purchase that comes with an interest rate is a bad purchase, period. When you can't afford to make a purchase with cash, you're penalized with interest and wind up paying even more than the sale price. We sell our souls to financial devils when we make purchases on credit.

Think about the last car, house, or other item that you bought on loan or credit. If you're like me, you focused on the monthly payments instead of the total cost of the item at the end of the repayment period. I remember the first car that I bought. My magic number was $200. Whatever car I decided to buy, I didn't want the payments to be more than $200 a month. Instead, I should have calculated how long it would take me to save up and pay cash for the car. Going that route, I probably would have gotten the car that I wanted, and paid less for it. When it comes to getting the most bang for your buck, cash is king!

While I can't go back and change it now, I do know that I don't want to go that route again.Thankfully, I haven't had a car payment in the last 4 years, and I don't plan on having any more. For one thing, I'm going to drive the car that I have until the wheels literally fall off, and I'm OK with that. You should be as well. At the end of the day, whoever we're trying to impress or whatever temporary voids we're trying to fill, the burden isn't worth it. Make the single transaction promise to yourself, and from now on declare "All Sales Final!"

Change requires action!

Live free!