Financial budgets are going to be the key if you want to own a Porsche Taycan. Unless you fall into a different class of individuals where you are rich, you are going to need to plan. As we discussed if you plan to purchase this car new it will be six figures. That’s why I tend to coach my readers to find one of these cars used.
A used Taycan is still going to be a heavy load for most of my blog readers. So the key is truly to figure out what you can afford to buy out right or finance. Start out by listing everything that you owe on. Now use something like a spreadsheet and list out what you are paying each month. Once you have this in place then you have a sense where you money is going.
Use your spreadsheet as a gauge to understand whether you can afford to have another expense. If the answer is no, then figure out what you can start to pay off or eliminate completely.
Most of the time our biggest debts are either homes, cars or credit cards. I recommend first trying to knock the credit cards off because they probably have a very high interest rate. Then keep funneling the money to start knocking off some easy wins to keep you motivated to work on your financial budgets.
Once you have a handle on things don’t carry monthly balances on credit cards; pay them off monthly. At the end of it the main thing you want to do is eventually get to a place where you can pay off your house. That will free you to purchase just about anything that you want; including a Porsche.
