When do you start saving for your next new car?
Before we had a car, we knew we had to save for a car. Then we were saving for a 2nd car. Then we were saving to upgrade the 1st car (compact car with not enough room). Well, we've had these two cars (the 2nd car and the upgrade to the 1st after it got totalled) for over 6.5 years now. We don't have plans to replace either of them anytime soon and they both run fine. It would have felt wierd to be saving for a car starting 6.5 years ago (when we had two basically new cars) but we'll need to replace them at some point... right?
So, what do you do? Do you just save constantly and then buy a new car when you hit a magic number? Do you save until you have enough for a car and then stop saving and just let the money sit in savings? Do you save enough for two new cars and then just let the money sit in savings?
My biggest monetary issue, I think, is medium term savings--- I just don't know how much to have, how to grow it, etc... I'd love any input on that issue, in general.