Monday, August 24, 2020

Giving $500 to a family from California

I was emailed by the father of a family from southern California last week. They have struggled financially since the pandemic hit earlier this year and have fallen behind on some bills.

The father, who asked that I don't post the family's names, recently found a new job after being laid off in the spring. In order to keep getting to and from work, he needs reliable transportation. However, due to falling behind on payments, he was at risk of losing his car.

$500 will allow him to make two car payments and bring his bill close to current, and his first paycheck in a few weeks will get the family the rest of the way to getting right with the auto lender.

I'm an advocate of buying only as much car as you can afford, using cash, and avoid payments and interest. Yes, there are drawbacks to buying used. But once a car is paid for, it's yours. There's a sense of financial and life security that comes with knowing your car, your home or whatever else it is has been paid for and is YOURS. I highly advise avoiding car payments whenever possible. Your life will become far easier because of it.

Have a wonderful day and keep your requests coming.