My Appologies to any new car salesmen.
I was talking with a friend in our office today and she was sick over the fact that she owes more on her cool 2007 sports car than she can get for it should she try to sell it. Wow. If she sold it today, at the best possible price, she'd come up about $7,500 short. Ouch.
Dave Ramsey, the guru of debt-free living has one of the coolest mathematic applications I have ever seen. Dave claims that he has figured out a way for us to drive "free" cars for the rest of our lives. I like that. Check it out...
FCO loved to repeat the observation that compound interest is the 8th wonder of the world and he enjoyed immeasurable pleasure in watching it work for him. Some confused that with penury, however, he not only made his point, but also enjoy the good things in life himself, provided well for his family, and left his children far better off than they would have been otherwise. I discovered that it is easier to understand compound interest than it is to incorporate in into daily life like Dave Ramsey recommends.JTO
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