When you have finished paying off a "loan" whether it be for a car, a credit card, or anything else continue making these monthly payments to yourself to a savings account.
I paid my car off a while back and continued making those payments to myself. It only took 2.5 years for me to have enough to buy my next car without a loan. The best part is that it took half as long as a standard car loan because there was no interest. I EARNED interest instead of PAYING it!
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