Personal Finance Intelligence to achieve Financial Freedom

/No debt, new car: NDNC/

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If you’ve ever read, listen, or watched Dave Ramsey talk about a new car, you KNOW that he doesn’t believe you should EVER take out a loan for a new car. It should be paid in cold hard cash. Plus, according to, a new car can depreciate upwards of 20% of its value within 1 year and 40% within 5-years. Dave Ramsey doesn’t say you shouldn’t buy a new car or one that costs over $25,000, he just says you should buy it in all cash rater than taking a loan.

In 2019, I came up with the stupid idea that my next car was going to be paid in cash. I mean, I need a new car now, so I really needed to find $25,000 yesterday. The problem with trying to do this was I didn’t have any room in my budget for a new car savings/investing/loan payment. I really didn’t because I hadn’t thought about a car payment in over 5 years. You know what happens when you make your last car payment…you’ll find somewhere else to use your money.

I needed to find another way to save for a new car and that is where side hustling came into play. I thought I would save a portion of my side hustle income and put it right to my no debt, new car or NDNC fund. So here I am trying to save for a new car before my old car breaks down.

I document this journey on a weekly basis based on my previous side hustle income.

How long is this going to take? Well, let’s just say at the rate I am going now, I should have $25,000 in cash by May 2021. Let’s just hope my car makes it.

Below are my NDNC savings reports that are posted to this site at least weekly.