I just came across a video of Ludacris being interviewed on the Ellen Degeneres show and he was talking about how he still drives a 1993 Acura Legend that has over 250,000 miles. When I heard this it put a huge smile on my face. According to Celebrity Net Worth, Ludacris has over $25 Million, yet he drives a car that is over 20 years old. A while back, I wrote a post highlighting the habits of rich people, and a study by Thomas Stanley showed that the average millionaire drove a car worth around $22,500. Ludacris has them beat with a car worth a whopping $612 according to Edmunds.com.
Video of Ludacris on the Ellen Degereres Show
Ludacris talks about this car at the 1:43 minute mark
What kind of car do you drive?
Do you drive a car that is getting you closer to achieving your financial goals or do you drive a car that is sucking away all of your cash, leaving you with little to no money left at the end of the month? It is amazing how much extra money we have every month now that we don’t have a car payment. When we sold my brand new car, we decided to take $300 each month that we were paying toward a car payment and put it into a “Travel” Countdown Fund. After two years of saving, we would have about $7,200. This allows us to do a trip internationally ever two to three years, which is something that is important to Kim and I.
What is important yo you?
Would you rather have a nice, fancy car or would you rather drive an old reliable car and travel? Perhaps travelling is not that important to you, if that is the case, than what is important to you? Do you want to put your kids through college? Do you want to start a business? Whatever it is, are you making a conscious effort toward achieving that goal? If not, why not start today? Sell you new car and buy a used car that fits your needs. You will be amazed at the extra money that you will have each month to do whatever you want with.