After 5 years of constantly paying back small loans and large credit card balances I can finally say I have learned my lesson! I am cured.
I never thought I would learn. I knew it was bad, swore I would never do it again, and time after time, justified my purchases.
After 3 days of thinking about it, test drives, etc, I walked out of the dealership with my deposit back. I was going to purchase a 3 year old low mileage car for 16.9k with 0 down. I make 20k a year and that's at the very most.
I don't need a car. Sure my ocean liner Buick Roadmaster Wagon sucks gas, but there is nothing wrong with it, and I am a 15 minute walk from work.
If I would have done this I would have been stuck at my dead end job for another 5 years. I would be close to 30 years old and all this time would be spent working to pay this off. I might go work at a camp up north to pay it off fast, but who knows how that would work out, plus that's straying from the objective. To put my money towards appreciating assets and rent / lease depreciating assets.
Now I am going to de insure my current car and walk instead! This frees up $100 in insurance a month and $200 in gas a month and will help keep me home more to get work done! I can also use the savings to take an extra day off a week!
So from my slither of existence on this earth all I can say to anybody reading this is to LEARN FROM YOUR MISTAKES. And hopefully they are small ones! I am so thankful I learned with $5000 of debt vs a 200k student loan!!!!
edit: Oh yeh, and from my small bits I have paid off I have *amazing credit* and I am not in debt at all!
I never thought I would learn. I knew it was bad, swore I would never do it again, and time after time, justified my purchases.
After 3 days of thinking about it, test drives, etc, I walked out of the dealership with my deposit back. I was going to purchase a 3 year old low mileage car for 16.9k with 0 down. I make 20k a year and that's at the very most.
I don't need a car. Sure my ocean liner Buick Roadmaster Wagon sucks gas, but there is nothing wrong with it, and I am a 15 minute walk from work.
If I would have done this I would have been stuck at my dead end job for another 5 years. I would be close to 30 years old and all this time would be spent working to pay this off. I might go work at a camp up north to pay it off fast, but who knows how that would work out, plus that's straying from the objective. To put my money towards appreciating assets and rent / lease depreciating assets.
Now I am going to de insure my current car and walk instead! This frees up $100 in insurance a month and $200 in gas a month and will help keep me home more to get work done! I can also use the savings to take an extra day off a week!
So from my slither of existence on this earth all I can say to anybody reading this is to LEARN FROM YOUR MISTAKES. And hopefully they are small ones! I am so thankful I learned with $5000 of debt vs a 200k student loan!!!!
edit: Oh yeh, and from my small bits I have paid off I have *amazing credit* and I am not in debt at all!
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