Maybe the time you bought your first car, or the time you received that long-desired promotion.

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Walking into one of the best party hotels for the first time is like getting behind the wheel of your first sports car: Your pulse quickens and your palms get damp as you feel the power and potential for endless fun surging through you.

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It was fun driving the car, although it obviously takes time to get used to things when it's your first time in a car and working with a new team.

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First, make sure your car is in tip-top shape .

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But depreciation can take a nasty toll on the value of your car, especially in the first couple of years.

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In the first years in which you pay back your car loan, the majority of each payment goes toward interest rather than principal.

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To begin budgeting, first add up the essentials, like your rent, utilities, groceries, transportation, student loans and a car loan.

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Whether you are saving for your next car repair, a month's rent, or for a personal goal, you are taking the first step to expand your choices by setting savings aside.

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In case of the latter, pack an emergency kit for the trunk that, at the least, contains jumper cables, a flashlight, ice scraper, flares or warning triangles, extra gloves and hats, blankets, snacks, a first aid kit and a small snow shovel and a bag of sand or cat litter to help should your car get stuck in the snow.

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