Save Your Money
The most critical things to do when discovering ways to save for your sport car is to limit you're spending, and start saving now. Any extras spending can wait for now. No more eating out daily and spending $5 per meal, or going to the movies multiple times a month. Cut back on your spending so you can save away every cent for your sports car.
Keep Money In a Special Place
Place your cash within a unique spot in my home or apartment. Keeping your cash in a special place helps makes saving rewarding, and it stays out of sight as long as you don't use it!
Get a 2nd Job
Get a second 2nd job if possible, or work overtime on your current job to help raise money faster. Do anything you can to make additional income. This also helps you purchase your vehicle faster and keep you busy so you won't be wasting money instead of saving it.
Make Minimum Payments
If you make additional payments on some of your bills, for example loans and credit cards. Switch back to minimum or monthly payments, to help you save up cash for your sports car. Use the extra money to save towards your vehicle savings fund. You can always switch make to making additional payments once you've purchased your car.
When choosing your sports car, be real with yourself in determining if it is a good fit for your budget. Make sure you know the fuel economy of the vehicle in terms of how much you'll need to drive it. Know the cost to maintain the car and how much gas it uses. Be wise about how costly it really is. You may need to rethink things before you spend too much money on a vehicle that's out of your price range.
Keep Your Mind On The Prize
Try hanging a picture up of your sports car. Read inspirational quotes to help motivate yourself every day. Imagine yourself driving your new sports car. It can happen with much motivation and determination.
Calculate Your Vehicle Payment
Start by calculating how much you can manage to pay out every month. Make sure to leave some room for car maintenance, like oil changes and tire rotations. Think about your insurance costs as well. While car payments are the largest cost here, it's not the only cost.
Calculate Your Down Payment
Check online for tools & resources that can help you add up how much you need for a down payment upon purchase.
Decide When You Need Your Car
Once you know how much you can spend, including the down payment and other expenses every month, the ultimate goal is timing. Remember, the sooner you want the vehicle. The faster you'll need the cash to pay for it. Be realistic, the best way to discover a more affordable vehicle is to look for a cheaper one, and take some months to build up more savings can make a difference in your finances.
Make Saving Mandatory
It's not easy sticking to the plan saving, but by the time you need it. The most effective way to meet a savings goal is to make it automatic, rather than debating on every single purchase you make. And it's less stressful.
Don't Punish Yourself
Don't feel guilty when spending too much when you should be pinching pennies. Sometimes threes frustration when having to say "no" to additional things you want. It's important to be realistic concerning what you can spend, and have a plan. Once you have a structure in place, its critical to just relax.
If savings becomes a war to pinch pennies, you can seriously get stress out. Always remember that while cutting out your daily Starbucks run is a awesome way to save cash, it is perfectly acceptable to treat yourself to an mocha once a week. Saving cash shouldn't feel like punishment. If it does, you will be less likely to save.
Keep Track Of Your Spending
If you already doing this, you're a step ahead! Write down everything you purchase from gas, food, clothes, bills or more.
Open A Savings Account
If you don't have an account already, you should start now. You can put money in it and not worry about spending it.
Use A Piggy Bank
Sometimes the old methods work the best. Piggy banks are good to put your extra money in as well.
Only Buy What You Need
Only buying what you need can be hard. Especially when you can't go out with your friends. By Sticking with your plan and budget you'll be able to save up for a car much faster in the long run.
Use Dealerships To Your Advantage
Find several dealers in your area to get quotes for the make and model you're looking for. Let dealers know you're shopping around and looking for the best price. Dealers want to make sales and if they know there's competition you can find a great deals.