I had $11,000 of my own money saved up with no debts whatsoever and I needed a car to get me to and from my college classes.
I spent ALL MY $11,000 on a $12,000 1998 white 6-cylinder Camaro Coupe with 24K miles and the other $1,000 had to be from my parents.
I was flat broke just like that and I even truly wanted the car in the first place. I was just rushing into it too fast. I went from $11,000 all the way down to having literally nothing left. AND I WORKED MY AS# OFF AT A MCDONALD'S FOR A YEAR RIGHT BEFORE MY PURCHASE AND SPEND ALL OF MY TIME SAVING UP MONEY FROM WHEN I WAS 11 ALL THE WAY TO WHEN I WAS 21 WHEN I MADE THIS BAD PURCHASE.
My parents and sister said I made a good decision, but I know I didn't. When you have a golden opporunity to have over $10,000 saved up in cash debt free at 21 years old, you should make sure you still have money in the bank.
I should have spent no more than $4,000 on car, at least I would still had $7,000 saved up. DON'T YOU AGREE??
2007-03-12
13:07:41
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10 answers
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asked by
Anonymous