You are 21 years old.
You have $11,000 saved up from working very hard at McDonald's, and years of being a total miser by never having fun with your money when you were 16, 17, 18, 19, or 20 by always saving.
You make the stupid mistake of spending it ALL on a car. Instead of getting a old, reliable car from a private seller who was an auto mechanic who took care of the car and then you need $1,000 from you mom to take of the total cost of $12,000 after tax.
Think about it,
You're financially powerless.
You're at the mercy of others all over again.
You have no savings in your bank anymore.
You can't buy anything else.
You can't spent it on anything from EBAY.
You can't spent it on "kinky fun".
You can't spend it on anything fun.
Had you spent $2,500 on a reliable old car, you'd have $8,500 left over and could have fun with $2,000 savings the other $6,500 in the bank for your future.
How would feel in this scenario?
You're suddenly finacially powerless.
2007-05-19
07:37:28
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5 answers
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asked by
Anonymous
in
Personal Finance