Being smart with $$ - Don't let marketers fool you

Marketers are fooling us into thinking we can afford anything.  Instead of telling us that something costs $300, they say it's only $10 per month for 33 months. With interest that's still $330 no matter when you pay it. Add a Nav system to your car? That's only $26 more per month on your 5-year loan.  But it's still $1500+. Is it no wonder that 3 in 10 millennials don't have a savings account (says USA Today/Bank of America)? And of those that do, 40% have less than $5000 saved.  Don't be the next marketing victim. That $36 per month matters!  It can go into savings and turn into $100,000 or more for retirement.
- Larry Pike, CFA, Client Priority Financial Advisors LLC
- www.clientpriority.com