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I want to buy a used, yet more reliable vehicle.
The vehicle that I have now is not reliable and is older, in 5 years I want to own a vehicle that I can count on which will be more financially safe for someone who will have just graduated high school. -
To start making more money that I can save, I will get a job as soon as I turn 16
Once I turn 16 this year, it will be easier for me to get a job. I plan on getting a job will a consistent income that I will take a percentage of every payday for savings. -
To help me control my impulses, and save money more efficiently, I will only spend so much money on wants every month
I have a problem with impulse buying, especially with online shopping. To combat this problem, I will allow myself a certain percentage of my paycheck every payday that I will save up and allow myself to spend at the end of the month. So I still get that satisfaction of carefree spending without actually carefree spending. -
Sell my old, unreliable vehicle and save the profits to buy a newer one.
When I graduate high school, my need for a reliable vehicle will be even greater, so I plan on selling my current Ford Ranger truck and using the profits plus my savings to buy a better vehicle or adding it to my savings if I have less than what I plan on having. -
Taking out a small loan if necessary
In my 2nd year of college, I will more certainly need a reliable vehicle, so if things haven't gone to plan over the past 5 years, I will take a small loan from my bank to purchase a vehicle. Even if I have to take out a loan, I am confident that I will have enough savings so that the loan is very small.