Weekly Wisdom in Personal Finance – Clunker Cash Sunk Edition – 7/31/2009

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Cash For Clunkers

This weeks photo was inspired by Federal Government’s new, yet sunk, Cash For Clunkers program.  Would the three gentlemen pictured above have envisioned and implemented such a plan?  You be the judge.

In my Weekly Wisdom posts I look to accomplish the following:

  1. Weekly round up of 5 or more articles that caught my attention & provide wisdom for my readers
  2. A list of other websites I posted articles to
  3. Listing Personal Finance Carnivals for all to enjoy

Today is the Clunker Cash Sunk edition & start of “Weekly Wisdom in Personal Finance”.  Over the course of the last few years we have been witness to some unprecedented government involvement in the private sector.  That trend did not slow with the inauguration of the Obama administration and grows increasingly more far reaching with each passing policy change. Is this the right path for America?  Is the Cash for Clunkers program useful?  Will it gobble yet more funding from Congress?  Is the program useful and is it benefiting people in the way we would expect?

Here is a list of articles that touch on vehicles and/or the questions many are asking about the validity and usefulness of the Cash for Clunkers program itself.  I hope you enjoy…

This Weeks Articles of Personal Finance Wisdom…

  1. How Much Should You Spend on a Car?by Stephanie of Poorer Than You
    Now this is the way I think!  Stephanie reminds us to ask how much money is appropriate to spend on car expenses each month?  You should give yourself time to really evaluate what you can afford, and what you want, so you can save up a down payment and be fully prepared when you go car shopping.
  2. Cash for Clunkers Program May Get More Funds – But is the Program Good for Consumers?by PTMoney
    It’s obvious by the demand for the funds that the program was being used. But are the funds being put to good use? Do the people who currently own vehicles worth less than $3,500 need to go out and purchase or lease a new car?
  3. Cash For Clunkers Program Suspended After Only A Few Days. Here Is Whyby Pete of Bible Money Matters
    What do you think? Will the government pass legislation assigning more money to this program?  Do you think the program was a good idea to begin with?  Will they find that the program has had the stimulating effect that they were hoping?
  4. Dear Uncle Sam:  Please Stop Stimulating Meby Baker of ManVsDebt
    Baker’s sends a friendly personal letter to Uncle Sam in an attempt to get him to stop “Stimulating” him.  It sounds really funny, and that’s because it is… check it out.
  5. Cash for Clunkers Program Suspendedby Five Cent Nickel
    Congress is reportedly looking for ways to extend the program, so it’s quite possible that it will be revived in the coming days. What do you think? Should it be brought back to life? Or should it stay dead?

Matt Jabs on Five Cent Nickel

Here is my article of the week on FCN:

Personal Finance Carnivals I was included in…

Thanks to the Personal Finance (PF) community for all of their encouragement, links, advice, & help along the way!

Enjoy your weekend…and spend wisely!

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1 Peter

Thanks for the link!

I suspect we’ll see more of the Cash For Clunkers program as soon as the congress and our president realize just how many have taken advantage of it already, and realize that they can garner a few more votes by extending it.

All I know is that CFC is a good illustration of how health care under government administration might look. Disorganized, full of red tape and running out of funding. I can’t wait!

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