40 Smart Things Rich People Do That Keep Them Wealthy

36. They Keep Cars For The Long Haul

Buying a flashy new car now and again may seem like a good idea: it saves you from having to worry about forking out money when your warranty is up. However, keeping a car for as long as its warranty lasts means that you’re always spending money every single month, and that’s not an intelligent way to get rich. Cars do depreciate in value over time, but without car payments, you can save up more money for the long run and use that money towards better investments (via CNBC). If you bought a car with a loan, pay it off as soon as possible and focus on keeping the car long-term so that you have more money for other things (via CNBC).