Podcast appearances and mentions of cash car convert

Steve Stewart back on the Cash Car Convert show to tell his Cash Car Story. Okay, Steve agreed to be on to get me back behind the microphone. The things some people will do to help a friend. He continues to be a great supporter of this show. I'm humbled and appreciate his support. Let's just say he has "bought" into the cash car lifestyle. It was great to see Steve at the Podcast Movement 2015 in Fort Worth, Texas.  We didn't get to hang out too much, but it was great to see him and his cash car. He does have a great cash car story and we will get to it now. Steve bought a cash car in Dallas Texas in April this year. This wasn't a typical transaction. Steve lives in St. Louis! Why did Steve come to Dallas to buy his cash car? Click to Listen: [powerpress] It all started when I posted a Craigslist ad on the Cash Car community page on Facebook on April 2nd. Steve's response to my post was the following, "an I send you a check and a little extra for your trouble to look at it for me? I'm 75% serious here (and it's no longer April Fools Day)." Steve and I spoke on the phone and agreed I would look at the car for him. I went to look at the car and liked what I saw. I also spent about an hour plus at Christian Brother's Automotive having the car looked over by professional mechanics. This is a service Christian Bother's offers for about ninety dollars. While they did find a few things that long term needed attention, their overall assessment was this is a sound vehicle. The mechanic went out of his way to tell me the late 90's Honda Civics have historically been great cars. He called a Civic sweet spot. I called Steve and after a lengthy conversation, he agreed to buy the car if we could get some price relief. The car was originally priced at $3,800. Steve finally purchased it for $3,400. A little more than a 10% discount. To be fair Steve had to buy a plane ticket to travel to Dallas and had other expenses. When all was said and done, Steve was out $4,000. Steve is on today's show to talk about how the car has been performing since April. I won't steal Steve's thunder, but he has had this car on the highway traveling between Dallas and St. Louis, St. Louis and Fort Worth and back, and St. Louis to Philadelphia and back. He has had this car on the highway for an estimated total of over 40 hours. That's a lot of time on the road. To me, this is important because most people are happy to drive their $4,000 car around town, but would be afraid to take a 10 hour one way trip. This car has held up to the demands put on it. 1998 Honda Civic EX as advertised on Craigslist.     Steve Stewart's cash car parked in Fort Worth at Podcast Movement 2015. Note the Cash Car Convert bumper sticker. Give this episode a listen, I know you'll enjoy Steve Stewart's Cash Car Story!  

At the recent Podcast Movement conference in Fort Worth, Texas, I had the opportunity to connect with James Kinson, host of the Cash Car Convert podcast.  James has a fun story to share and some great lessons to teach. He's a long-time car guy who got the debt-free religion and changed his car-buying habits. To his delight, he's wound up a good deal richer than ever before! He's got some great lessons to share and in this show we discuss: The impact a cash car can have on your wealth Leasing vs. buying Whether the advice to buy a good used car still applies in the modern day of higher repair bills. Enjoy the show! Joshua Cash Car Convert: http://cashcarconvert.com/ Support Radical Personal Finance on Patreon! http://radicalpersonalfinance.com/patron  

For a summary of this show and a link to James Kinson's "14 Steps to Your First Cash Car" visit http://FinancialWellnessShow.com/10 James Kinson is a Cash Car Convert - it even says so on his website.  The reason James is so passionate about helping people buy used cars is because he understands the impact new cars have on an individual’s personal finances - and buying new is what most people do. James Kinson shares this, "Most of us were taught that we will always have car payments. Within the first year a new car will lose about 19% of its value and 60% over five years. It is because depreciation isn’t directly hitting a person’s wallet that most people don’t consider the financial impact.” He shares with us ways to get out of car debt: Sell the car What if you are upside-down? What would I drive? (buy a beater) Trade in to lower-value debt car   Accelerating the existing loan payment Sell stuff Cut costs in your budget Get an extra job   Getting out of a lease Swap-lease and LeaseTrader.com Sell the car, pay the difference (if any) Turn in early and pay the remaining lease payments ___________________ Consider taking our online Financial Wellness course called http://MyMoneyWellness.com/dj Use the promo code show50 to get half off the first month's membership. Send in questions to Steve@FinancialWellnessShow.com

Let's explain the dangers of auto leasing! Jeff Bartlett, deputy automotive editor at Consumer Reports“If you asked me what is the most expensive way to get a car, the answer would be: You only want to own it during its period of greatest depreciation and then move to another new vehicle.” “Well, that’s what leasing is.” lease noun ˈlēs: a legal agreement that lets someone use a car, house, etc., for a period of time in return for payment Click to Listen [powerpress] How is the payment calculated? Purchase price - how much you pay, you should negotiate just as hard as if you were buying Cost of money - interest rate Lease term - number of months of the lease Residual value - estimated value of what the car will be worth at lease end Sales tax - You will only pay taxes on the sum of your payments, which is the difference between the purchase price and residual value. What is the average lease payment? Avg auto loan in Q4 2013 $471Avg auto lease in Q4 2013 $420 What are the gotchas with leasing? Paying too much upfront Forgetting to buy gap insurance Underestimating you miles driven Not maintaining the car Leasing for too long What types of auto leases are there? Closed-end Leases which are mostly consumer leasesOpen-end Leases Open-end leases are primarily for commercial business leasing.  How do I know if I’m getting a good lease? Leasify - App to confirm you are getting the best lease. 99 cents. Leasify is a car lease advisor in your pocket. Leasify levels the automotive playing field by giving you the information you need to get the best deal on your new car lease.  X-rays lease quotes to extract hidden fees and areas where you can improve your deal  Serves as a financial decison-making tool with a sophisticated algorithm that generates a deal score Displays what the dealer paid, as well as the average price paid, for any car in your zip code Next week, I'll be talking about how to get out of a lease if you find yourself in one and want out. God Bless You! Links: Auto Leases Entice, but They’re Still Costly: http://nyti.ms/1wfmUju Merriam-Webster Online: http://www.merriam-webster.com/dictionary/lease Types of Car Leases – Explained: http://www.leaseguide.com/lease06/ Lease Payment Formula Explained: http://www.leaseguide.com/lease08/ Calculate Your Own Car Lease Payment: http://edmu.in/1x8lzwr 5 dumb car leasing mistakes to avoid: http://bit.ly/1CdUwmq Experian Automotive report shows auto loans are still first choice in financing, but leasing has become more popular than ever: http://bit.ly/1CtQW8k Depreciation Infographic: How Fast Does My New Car Lose Value?:  http://edmu.in/WELal0 Leasify App: https://itunes.apple.com/US/app/id912884639 Did you enjoy the show? If you liked this episode, please consider going to iTunes and subscribing. On iTunes once you subscribe, you can leave a rating and review. Taking this action will help this podcast move up and be more easily found in iTunes. Thank you for an honest rating and review. Here is a link to subscribe or rate and review the show: http://cashcarconvert.com/itunes Alternatively, you can let me know your thoughts about the show on Twitter at @CashCarConvert. Want to connect on Facebook? http://facebook.com/cashcarconvert Check out my new private Facebook community. http://cashcarconvert.com/cccc Want to shoot me an e-mail? Click: james@cashcarconvert.com. Looking for something on Amazon? Please use my affiliate link: http://cashcarconvert.com/amazon Looking for a back episode of the Cash Car Convert? Click: http://cashcarconvert.com/cash-car-convert/ I’m also posting my audio podcasts on youtube. The first 15 episodes are up with the rest to follow. I’m looking at this as just one more platform to be found. http://cashcarconvert.com/youtube Do you have a comment about this interview or about the podcast itself? Please leave a comment below. I appreciate every listener. Thank you for listening to the Cash Car Convert show.

I'm going to be talking about a few things today. I'm going to speak about a woman who paid off her debt and what her budget looked like before and after paying off the debt. Budgets can be a wonderful tool to tell a story. I'm also going to speak about an article I found comparing 401K saving levels by age and income level. This will be enlightening to many. Lastly, I want to pose a question. How can something be good for the economy and yet be bad for the individual? I hear people television speaking all the time about how great it is that people are taking on more debt. Spending money on cars, clothes, really anything to stimulate the economy. Now, I'm all for pumping up the economy, but if people are spending all their earning and more on things and aren't saving enough for retirement and they aren't, how can it be good for the economy long term? It can't be! The population is aging and fast. In 2012 there were 43.1 million people age 65+. By 2020 that number will be 56M, 2040 it will be 79.1M and by 2060 it will be 92M. So what I see is a celebration of overspending by the economists making these broader economy statements. The same economists must realize social security can't support the rapidly aging population. They aren't sounding much of a warning bell as far as I can tell. If these people don't plan and save for their own retirement how many people will enter their "golden" years with little to no money saved. So, we may see a short term increase in new car sales and therefore create jobs in the hard hit city of Detroit among others. Is this the old saying "Live drink and be merry for tomorrow we die?" Maybe so, but the problem is we aren't dying. In fact we are living longer than ever. MONDAY, Jan. 6, 2014 -- Americans are living longer than ever and their life expectancy is increasing every year, federal health officials reported Monday. People born in 2009 can expect to live 78.5 years. That's an increase from just a year earlier -- when life expectancy at birth was 78.1 years. Since these latest statistics were collected, life expectancy has increased even more, according to the U.S. Centers for Disease Control and Prevention website, and now stands at 78.7 years. Much of the continued increase in life expectancy owes to better treatment of cardiovascular disease, a CDC researcher said. As the population ages and lives longer, the bill for all this spending, borrowing, and lack of savings will come due. My question is how can something that is so bad for the individual be considered good for the economy. By what metic can this be true!?! The next time you hear someone say we need to spend our money to kick start the economy or that lower gas prices are good for consumers, but bad for the economy, please challenge this thinking. Take responsibility for your own life, do it now! Do it with urgency! The government or American business isn't coming to save you, me, or our children. We, the individuals, must do what's best for us, and that doesn't include a new car. God Bless You! Links: Here's the budget one woman used before and after paying off $32,000 of debt: http://yhoo.it/1xNcYmY The Average American Has This Much Saved in a 401(k) -- How Do You Compare?:  http://bit.ly/1Fx6X2X Administration on Aging (AoA) Future Growth: http://bit.ly/1HYvY4E Average American can no longer afford “average-priced” new car or truck (and why it's getting worse): http://yhoo.it/1tRVea2 Americans Living Longer Than Ever: CDC: http://bit.ly/17oml2g Did you enjoy the show? If you liked this episode, please consider going to iTunes and subscribing. On iTunes once you subscribe, you can leave a rating and review. Taking this action will help this podcast move up and be more easily found in iTunes. Thank you for an honest rating and review. Here is a link to subscribe or rate and review the show: http://cashcarconvert.com/itunes Alternatively, you can let me know your thoughts about the show on Twitter at @CashCarConvert. Want to connect on Facebook? http://facebook.com/cashcarconvert Check out my new private Facebook community. https://www.facebook.com/groups/340391522815734/ Want to shoot me an e-mail? Click: james@cashcarconvert.com. Looking for something on Amazon? Please use my affiliate link: http://cashcarconvert.com/amazon Looking for a back episode of the Cash Car Convert? Click here: http://cashcarconvert.com/cash-car-convert/ Do you have a comment about this interview or about the podcast itself? Please leave a comment below. I appreciate every listener. Thank you for listening to the Cash Car Convert show.

The Cash Car Convert show 2014 in review. What a blessed year! What has happened with the podcast? Great guests Pat Flynn John Lee Dumas Rachel Cruze Tom Corley Larry Winget Jaime Tardy Dan Miller Jared Easley Steve Stewart Break throughs: Speaking Podcast Dallas Meetup Podcast South Florida Meetup North Austin Entrepreneur Meetup Podcast Movement 2014 FinCon 2014 Podcast Interviews: Empowered Podcast Cash Flow Apprentice Living on the Rock Your Life Detective Make Your Money Count Starve the Doubts MoneyPlan SOS Stacking Benjamin’s Surprises The Plutus Award Finalist Being on the cover of Podertainment magazine Downloads December my best month in 2014 Reviews 70 in 2014 2015 Goals More speaking (self created  opportunities - local speaking universities/libraries) More speaking at conferences and meetups Local TV/Radio interviews Completion of the much delayed book a priority for 1Q 2015 I would love to hear your stories from 2014 and goals for 2015! Have a great new year and prosperous 2015!!  

On this episode of the Cash Car Convert, I have the pleasure of having the one and only Cliff Ravenscraft. The Podcast Answerman. What a journey Cliff has had.  In December 2005, Cliff Ravenscraft, together with his wife, Stephanie, founded the Generally Speaking Production Network (gspn.tv). Since then, he has produced over 3,200 of his very own podcast episodes devoted to Entertainment, Family, Faith, Business and Technology. In December 2006, Cliff launched PodcastAnswerMan.com where he has since helped thousands of individuals and organizations launch succesful podcasts through one-on-one consulting/coaching and through his Podcasting A to Z online training course (http://PodcastingAtoZ.com). If you were to look at the top 100 podcasts in the business category of iTunes, more than 50 of these shows were created by clients who worked with Cliff. If you enjoyed this interview, please subscribe and leave a rating and review on itunes. Please go to http://cashcarconvert.com/itunes

Rey Brown was kind enough to join the Cash Car Convert show for an interview. Rey has worked in the wireless industry for about 10 years. He has extensive knowledge of the workings of all the major carriers. He also has spent a great deal of time exploring the apps that exist for both the iPhone and the Android ecosystems. He will share this extensive knowledge with us today. I met Rey early this year when I spoke at the Podcast Dallas meet up in February. I had interacted with him on social media such as Facebook and Twitter due to us both being members of Dan Miller's 48Days.net and John Lee Dumas’ Podcaster’s Paradise. Rey is one of the most helpful people I know in the online marketing space. He is so quick to offer help. He even helped me move back in May. That is taking online relationships offline to the extreme. As good a guy as Rey is, that's not why I wanted to have him on my show. The reason I wanted him on my show is we all have SmartPhones and they will cost us a great deal over the course of our lives. We need to make sure we are extracting maximum benefit for the money spent. Rey’s Smartphone’s Made Easy tag line is Syncing Life with Technology. We all use technology everyday. Wouldn’t it be great to have this technology actually help us in our daily lives rather than distract us from our lives? Rey can help. I enjoyed interviewing Rey and I know the information he provides will be of great benefit to those who put it into action.  

One of the people I planned to meet at FinCon14 was Todd Tresidder. Mission accomplished! Todd has an amazing story. He went from being a high school entrepreneur and mechanic to hedge fund manager. He found himself "retired" at age 35 after selling the hedge fund business he was a partner in. This was in 1998. Todd has remained retired while riding the ups and downs of the market. Including the tech bubble and great recession. Todd is deliberate and intentional with his decisions. He has used statistical analysis models he developed to make market decisions. Todd makes car buying decisions largely based on the numbers. He can afford to by new. He can afford the depreciation. Yet, most often he has bought used. He doesn't like the idea of wasting money. He also doesn't have his ego tied up in his car. I think you should consider being like this millionaire next door! Lastly, congratulations to Frank Manzella (@Frank_Manzella)as the winner of the autographed copy of Smart Money Smart Kids by Dave Ramsay and Rachel Cruze. Links: Financial Mentor: http://financialmentor.com Todd Tresidder's Books: http://amzn.to/1sUK5Ex  FinCon14: http://finconexpo.com Plutus Awards Finalists Announced: http://www.plutusawards.com/finalists/ Did you enjoy the show? If you liked this episode, please consider going to iTunes and subscribing. On iTunes once you subscribe, you can leave a rating and review. Taking this action will help this podcast move up and be more easily found in iTunes. Thank you for an honest rating and review. Here is a link to subscribe or rate and review the show: http://cashcarconvert.com/itunes Alternatively, you can let me know your thoughts about the show on Twitter at @CashCarConvert. My Facebook page can be found at http://facebook.com/cashcarconvert Want to shoot me an e-mail, james@cashcarconvert.com. Do you have a comment about this interview or about the podcast itself? Please leave a comment below. I appreciate every listener. Thank you for listening to the Cash Car Convert podcast.

After my road trip to FinCon14. I recorded this episode, interviewing my friend Jared Easley, at FinCon 14 in New Orleans. FinCon14 is a financial bloggers conference. This is my first trip to FinCon. At this conference, bloggers and podcasters get together to socialize and build a community around helping people with their personal finance. All financial points of view are represented. I'm looking forward to making new friends in New Orleans at FinCon14. My interview with Jared focused on his rise from new podcaster, creating Starve the Doubts, to co-founder of the Podcast Movement, the only conference specifically for podcasters. Jared is also a #1 best selling Amazon author in multiple categories with his book Podcasting Good to Great. I also want to thank my friends Steve Stewart and Phillip Taylor for helping feel at home at my first FinCon. Lastly, congratulations to Frank Manzella (@Frank_Manzella)as the winner of the autographed copy of Smart Money Smart Kids by Dave Ramsay and Rachel Cruze. Did you enjoy the show? If you liked this episode, please consider going to iTunes and subscribing. On iTunes once you subscribe, you can leave a rating and review. Taking this action will help this podcast move up and be more easily found in iTunes. Thank you for an honest rating and review. Here is a link to subscribe or rate and review the show: http://cashcarconvert.com/itunes Alternatively, you can let me know your thoughts about the show on Twitter at @CashCarConvert. My Facebook page can be found at http://facebook.com/cashcarconvert Want to shoot me an e-mail, james@cashcarconvert.com. Do you have a comment about this interview or about the podcast itself? Please leave a comment below. I appreciate every listener. Thank you for listening to the Cash Car Convert podcast.

John G. Miller is the author of QBQ! The Question Behind the Question, Flipping the Switch: Unleash the Power of Personal Accountability, Outstanding! 47 Ways to Make Your Organization Exceptional and co-author of Parenting the QBQ Way. He is founder of QBQ, Inc., an organizational development firm based in Colorado dedicated to “Helping Organizations Make Personal Accountability a Core Value.” A 1980 graduate of Cornell University, John has been involved in the training and speaking industry since 1986. He lives in Denver, Colorado with his wife, Karen. They have seven children and three grandchildren. What is “QBQ!”? Ever heard lousy questions like these? “Why do we have to go through all this change?”“When is someone going to train me?”“Why can’t we find good people?”“When will that department do its job right?”“Who dropped the ball?”“Why don’t they communicate better?”“Who’s going to solve the problem?” If so, then “Personal Accountability and the QBQ!” is right for your organization. The Question Behind the Question (QBQ) method of practicing personal accountability came about as a result of many years of research by author John G. Miller in the organizational development field. QBQ! provides the “how to” of personal accountability. People at every organizational level have found QBQ! life changing! QBQ! eliminates the dangerous questions listed above and thus the common traps of complaining, victim-thinking, procrastination, and blame. When this occurs, productivity, teamwork, morale, creativity, safety, communication, and problem-solving are enhanced. Employing QBQ!, people adapt to change faster, which is critical for competing in today’s global economy. Designed for and practiced by the individual, but of high value to the team, QBQ! material is practical, universal, and timeless. It applies to organizations in every industry and to people at every level, from the grassroots to the “executive suite.” The QBQ! message of personal accountability is foundational. Before training on customer service, management, sales, change, leadership—or any other topic—personal accountability is needed! For all other training to succeed, accountability must be established as a core value within the organization. Otherwise, time and training dollars are wasted. I will be speaking at FinCon 2014. FinCon 2014 runs from September 18-20 in New Orleans at the New Orleans Marriott. Please come by and say hi if you live in the area or will be attending FinCon. I want to thank everyone who voted for my podcast in the Best Personal Finance category of the Plutus awards. The Cash Car Convert podcast is a finalist for the award. The award will be announced on September 20 at FinCon 2014. It is an honor to stand with these shows!

I want you to be the hero of your own story. Why you ask? No one is coming to rescue you, that's why. Not the lottery, not a millionaire, not a family member, and not the government. In the last 5 years the economic down turn has caused most american families to feel less certain about their future. No only their future, but also that of their children. With the majority believing that their children will not have the same or better lifestyle then them. I encourage listeners to come and meet me at the Podcast Movement and Fincon 14. I also share information about Podertainment Podcast Magazine and my feature resulting in my being on the cover. Last but not least, I encourage listeners to vote for the Cash Car Convert podcast as the best personal finance podcast in 2014.

#159: The first 6 steps to buying a cash car are laid out by James Kinson, the Cash Car Convert. He helps everyday Americans kick auto debt to the curb and make smart buying decisions when it comes to automobiles. For more information, visit the show notes at

So many topics to cover this week. I apologize for missing a week on my podcast. A friend who lost their job had their car repossessed. The Urban Institute publishes a report on Debt in America. This report shows that 91 percent of the population in the United States has a credit score. Of those 35% have at least one account in collection. Seriously! Also discussed is the really unemployment number for the United States based on an article by Peter Morici in the Washington Times. While unemployment stands at 6.1% according to the Labor Department, based number of factors a case could be made for real unemployment being at least 18%. A relay the story of how proper savings has led one friend to smile continuously while discussion her retirement. I discuss how making a small change in your life can have a major impact. I encourage listeners to come and meet me at the Podcast Movement and Fincon 14. I also share information about Podertainment Podcast Magazine and my feature resulting in my being on the cover. Last but not least, I encourage listeners to vote for the Cash Car Convert podcast as the best personal finance podcast in 2014.

This episode will be about being a person of excellence. Back in February on Cash Car Convert episode 12, I had some friends who were going to buy a newer car to get one that would have better gas milage and have a nice long warranty. I don’t know what the car payments would have been, but they decided not to buy the newer car after I offered to buy their old car for a little over the trade in amount they had been offered. Instead, they had their car repaired and have been driving it with no problem that I know of. Recently, the husband was laid off. I was very sad to hear of this happening, but I was thankful they hadn’t purchased that newer car and incurred the car payments that would have come with it. I’m pleased to know they have one less headache as he finds another job. Each week, I listen to lots of Podcasts. Some of these are sermons. I attend a local church, so I hear one sermon in person and the others via podcasts. I listen to Robert Morris in person at Gateway Church in Southlake, TX. Pastor Morris is an incredible teacher of God’s word. He makes the complexities of the bible simple. Andy Stanley from Northpoint Church in Atlanta, GA Wisdom from a church for non-church people Perry Noble from Newspring Church in SC not your typical pastor, but someone passionate about helping people and leading them to God. Joel Osteen from Lakewood church in Houston, TX up lifting. Always helping me remember I may be going through something bad at any given moment, but it is only for a season and brighter days will come. I get something different from each of the sermons. Each one a blessing to my life. Today, I want to discuss a sermon I heard from Joel Osteen. It was about having a spirit of excellence and being a person of excellent. He told stories of what this means and what it looks like. For Christens, it means we should always remember we are representatives of God. If you don’t believe in God, this still applies to you, as you represent yourself, your family, city, state, and country. All good reasons to try to always put your best self forward. How do you live your life? How do you look when you leave your house? How does your house look, is it neat and in good repair? What about your car? What do you do to make your small o large corner of the world better? What do you do with shopping carts? Do you liter? Do you pick up liter? I always put my shopping cart away and will often take a few strays as well. I tend to walk along a street that gets a fair about of traffic. I’m always amazed that for such a nice neighborhood I find trash along my walking route. When I’m out for a walk, I will often pick up liter on the street. Some of these things I have done for a long time, but some of it I have started doing after listening to Joel’s sermon on having a spirit of excellent. You don’t do these things not because someone is watching, but because you are a person of excellence. Joel tells the story of cleaning a 5 gallon water bottle not because he thought it needed it, but because he had promised his wife he would. So, even when he is alone, he does it because he wants to be a person of excellence. H also told the story of how he had trash blowing out of his car and  out into the parking lot. He chose to chase it down and was glad he did when he found he was being watch by people who watch his services on television. It pays to be a person of excellence all the time, as you never know who will be watching. What if you don't feel like you are a person of excellence? I talk about how using positive mental imagery can help you envision a new you and a new future. I speak about Dr. Maxwell Maltz book Psyco-Cybernetics published in 1960. I also reference The Way of the SEAL a book by Mark Divine. I was amazed how much the use of positive mental imagery played a part in the life of a Navy SEAL. It can help you to. Links below will help you understand why.

My life has been a whirlwind the last 4 months and I wanted to take this episode to catch up on a few of the major things going on in my life.   Expanded job roll leading to more travel.   Spouse taking on new job.   Moving into a new home at the end of May.   Long weekend vacation.   Being interviewed on several podcasts.   Speaking at a couple of Podcast meetups.   What's changed in your life the last 4 months?   Please let me know!!  

The largest purchase most people make is their house. The second is their cars.    Dealers know that, but they won’t share it with you. However, they will show you how they can “get you into this car for the low monthly payment of fill-in-the-blank.”    Monthly payments are the biggest distractions salesmen use against us - and we eat it up!   The future wealth of middle and lower income America is sapped by the “you gotta have a car payment” mentality, but it’s not too late to change.   It’s time to get out of the car payment business.    First: Identify how much car is too much   Use this formula to decide if you have too much car: Compare how much you spend on gas to your monthly car payment.   If you are spending more on your monthly car payment than on gasoline, you have too much car.    Stop reading this and go look at your car right now. Where is it? It is likely to be parked in a garage, driveway, parking lot or on the street.    You are paying a premium for parking and should seriously consider selling the car or paying off the debt. Period.   Keep the car using the “2x Rule”   If you are so completely enthralled with your car that you can’t bear to part with it then swear to abide by the “2x Rule”:   Raise your right hand in the air Place your left hand on a stack of Bibles Swear to keep the car for twice as long as it takes to pay off the loan   Yep. If you signed up for a 5 year ride with Ford Financial then you need to keep that car/SUV/truck for 10 years - no excuses!   Think about that for a minute. Do you love this car enough to commit to driving it for a decade?   Maybe this will give you some motivation to pay off the loan early. It should also prevent you from rolling any negative equity into your next purchase.   Kill the debt in under 2 years   Look at your monthly budget to see how much money you can throw at the debt:   Multiply the extra money by 24 Multiply your normal monthly car payment by 24 Add the two totals together and compare it to your payoff balance.   Keep the car if you can realistically pay it off in less than 2 years. If you can’t then it’s time to sell.   This goes for both new and used cars. Don’t let payments on a depreciating asset keep you in the middle class forever.   If you can’t pay cash   James Kinson encourages you to pay cash for your cars. It’s an economically sound solution for the biggest financial drain your budget. It’s also very hard to do when you are just getting started.   What can you do if money is really tight and you can’t pay cash? Use the same 2x Rule for every car you buy on payments:   Buy a used car and pay off the loan as quickly as possible Once the debt is gone, save for your next downpayment Repeat the process until you can pay for a cash car     Purchasing quality used vehicles will keep you from paying a premium for parking. Getting rid of the debt will help you to save up for your next car. Continuing to purchase wisely while saving downpayment will get you to your destination - you’ll become a Cash Car Convert!  

How much does mindset matter? This week we will explore how much mindset has impacted my life. I hope by me sharing my journey, a journey I have only shared with just a handful of people. Some of this journey may resonate with what you are going through or have gone through. I want to give you hope that no matter your circumstances you can make decisions to change your life at any point along the way. It is never too early or too late to start changing your life! My life has turned out so much better than I ever dreamed and so can yours. I hope you enjoy this very open and raw episode of the Cash Car Convert.

Episode 23 the Empowered Podcast is a special treat! I share an “off-the-cuff” hangout I had with my friend James Kinson. James tells us why you should start a podcast. He shares with me about why he started the Cash Car Convert blog and podcast. He also shares how his life has been changed over […] Click here EP23: Why You Should Start a Podcast for Your Brand & Business w/ James Kinson (@CashCarConvert) to visit Ellory Wells and leave a comment.

Introduction to James Kinson and the Cash Car Convert Podcast. How Dave Ramsey's Total Money Makeover changed my life and how I now plan to help others. I want to educate and inspire people to become cash car converts with this podcast.