By Dr. Jim Dahle, WCI Founder

You’ve probably heard the phrase Buy This, Not That before. There’s a book with that title. WCI Columnist Francis Bayes even did a version of this idea in 2023. Today, we’re going to go over a potpourri of financial wisdom in “Buy This, Not That” style.

Buy a Used Car with Cash, Not a New One on Credit

The amount of money that Americans throw away on transportation is unbelievable. I am a firm believer that the reason most middle-class folks are not wealthy is sitting in their driveway. Cars depreciate rapidly, and more expensive ones cost more to finance, insure, maintain, and repair. When I see someone with a five-figure car loan, I just shake my head and honestly feel sorry for them for not understanding this principle. Few of us agree with everything Dave Ramsey says, but he’s got two auto rules

Keep reading this article on The White Coat Investor.

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