What's the highest car payment you've heard or seen and do you know anyone with a 🚗Car or flexing obsession? Also what's your phone 🔋on? It's 9:12 p.m. here and I'm on 47%😭
When my car got totaled, I had the option to use my settlement money for a down payment on the gorgeous new car I wanted or a nice but older car paid in full. Decided to pay in full and had extra to pay my car insurance up for a year and put the rest in savings. Literally the best financial choice I’ve made
Good for you! This is such a good decision I’m. In the same situation (I hope you’re okay from your accident). But yeah, I could buy another luxury car but I’m not. I’m going with a sensible car this time.
@@chrisSea1346 You save even more money if, you get a sensible used car and not a new model. Ask your local car dealership to let you know when lease models of the car, you want will be returning. Once received dealerships normally re-sell these used cars as "certified used" and, will many times also provide a nice warranty (smile...smile).
My car IS a status symbol, and I use it as such. When people see me in a late 90s car with peeling paint and 200k miles, they see nothing of interest or desire. I become invisible or irrelevant, which is EXACTLY what I want!
Mine is early 2000s with a couple dents, some paint scraped off, paint peeling, and logo faded. I love not having to stress about another scratch or dent that's inevitably going to happen. Being invisible or irrelevant is definitely a good perk.
This is facts, my car is nearly paid off and im actually in the process of financing another one as we speak, im going to phone them and cancel the application. You're right, thank you.
I never heard anything bad about honda until this video. Someone in another comment said that they had 1K worth of maintenance on it monthly. But other than that Honda's in Toyota's have always been the car is that I would pick from. I personally have only ever owned toyotas and prefer them and they last forever!
Paying off my car was the best decision of my life. Imagine the freedom that you'll have when, all of a sudden, the 2nd biggest bill you have is ELIMINATED.
And now imagine you keep paying that car note to yourself and put it into a a index fund and then when you need to get a different car, you make some clicks, wait a few days, and bam that money lands into your account. Then you go get the car you want, write a check and go on with your day. You can buy a brand new car in less than an hour.
@@SocialSymone I am just a big nerd, who learned the power of money early. I can drive anything I want, I CHOOSE what I have a '12 Outback with 120K miles on it.
I was caught in the trap in my early twenties. When I tell you I had credit card debt, student loan debt, car payment debt and no savings. Today I’m 29, paid off Honda, no more student loan debt, no credit card debt, 10K emergency fund in my high yield savings account. I had to become a new person mentally.
When I was making $40k out of college, I was driving a $30k BMW in an attempt to look successful. I learned the lesson of delayed gratification a couple years later, as I earn more, I stopped purchasing more expensive things. I earn 5x now and drive a 12 year old Honda that costs $10k. Make future you proud.
@@SocialSymone Absolutely. When I was researching what car I wanted to buy I made sure I looked up the average maintenance costs per year and whether the car was good on gas to see what I wanted to purchase.
Mine's paid off. Hardly have to do any maintenance, just change the oil myself. $25 a week to fill up to fill at Costco once a week. Toyota Prius 2017. I did take it for some other regular maintenance but it's at 130k now. Had it since 28k.
Toyota gang checking in here. Still driving around a 2004 Toyota Sienna with 200,000 miles on it. No car payments barely any insurance and a full bank account have me sleeping soundly at night 😴
1998 Toyota Avensis with 106K miles :-) It's starting to rust quite a bit, though. Do you guys in America also spread salt on the roads in winter to decrease the melting temperature of the ice? That is really hard on the poor cars.
I'm dating a mechanic and we drive vehicles ranging from '90 to '05. All of then are absolute solid tanks and barely have issues other than just some easily fixed wear and tear. New cars are built to nit last AND make you spend a LOT more becuase the issues 1) have to be fixed at a dealer with the cars software and 2) when one thing goes wrong it's connected to other things that cause other issues. Buy older cars!!!!
I’m sending this to my children. My son will graduate from college with no student debt and a paid off RELIABLE car. He doesn’t understand how much of a flex that actually is.
Living in Atlanta I learned to ignore what nice cars people drive. I know SO many ppl in luxury vehicles who are broke as hell. The maintenance $$ on that shit is STOOPID.
Same. Everyone I know that has money and is comfortable within their finances, owns their home etc drives a modest vehicle and lives a normal lifestyle. Everyone that I know that drives a luxury vehicle is broke and struggling to pay their bills or they live with their parents or other family members. It’s mind blowing. I think it all comes down to maturity and responsibility. People are delusional and social media was the worst thing to ever happen to this generation. Regular people are trying to keep up with these social media influencers and completely lost touch of reality.
I had a coworker who whole identity & self-worth was tied to his Escalade! When he would feel bad about himself, he would literally remind everybody he had a Escalade!
My vehicle helps in keeping me happy. I know guys paying over $1000 per month on child support and/or daycare and they're miserable. Protect your mental health by all means
The worst financial decision I have ever made is financing an SUV. I will drive this thing until it cannot drive anymore and then I will NEVER finance a car AGAIN.
I don't know your situation so don't take what I say too seriously. I'm just wondering if keeping an SUV is financially sound long term, like extra fuel cost, more depreciation etc
@@tomlxyz some people are just too addicted to driving up high, and feeling "safe" despite the costs and the fact they are far worse for safety for everyone outside the car
@@zwicker5585well I got one because its much easier with 2 babies. Not having to bow down every time you put them in the car is big for me. In 5-6 years this is gonna change tho
This video is pure facts. I’m 22 years old and earlier this year I bought a 2015 Toyota Prius with cash. Meanwhile, my friends are driving BMW’s and Tesla’s but they really can’t afford them. They’re trapped in high interest loans, drowning in debt and repairs, struggling to pay off their cars. Meanwhile, I’m living comfortably driving my Prius. My car might not look as cool or flashy as theirs, but that’s the point. They look like they got it like that but they don’t. I actually do.
My 2001 accord met an untimely end, so now I drive a 2011 accord that’s totally paid off. I will drive it until it physically falls apart. It will give upon me before I give up on it😂. I prefer my cars to be paid off, zero screens, and with a decent mpg.
honestly! i wanted an older car anyway since i have a lot of cds i wanted to play through it, and only the older models have cd players, let alone cassettes (which i have a couple of). this is my main reasoning for buying an older car but honestly this video is giving me more practical reasonings 😂
I feel so called out and I am SO glad for it. I was just looking at cars last night delusionally thinking I deserve it. What I deserve is my current paid off car and a retirement fund
Every now and then it is actually okay to treat yourself. If you die tomorrow you wont take anything with you, someone else will enjoy your hard work. Ibtreat myself with things i enjoy doing but responsibly.
@@ToniaAlex13treating yourself is all well and good but this person already has a working vehicle so maybe a nice trip or something else would be a better treat not a treat that they will end up paying for for years
2016 Camry & 2016 Odyssey over here. Every time I take my car in for an oil change, some desperate salesman tries to sell me a new car. I always respond with “Why would I need a new car? This is a Toyota, it will drive forever.”
2016 is still a solid year lol. not sure what everyones obsession is with getting NEW marked up vehicles. Get the same 2023 model you were initially planning, in the 2019 variant or something. 1. will already be depreciated, so the value youre paying, is about where itll balance out at. 2. youre not paying overmarked prices, for the same thing lol. (besides maybe subtle different useless features on newer ones.)
Listening to this, I started feeling bad, because when my mom's car broke, I decided to give her my old car and buy a new car. When I went to the dealership, I had an amazing deal on my dream car. I made the calculation and the interest rate was peanut. I had the means and I bought it. The next following months, I kept feeling guilty and recalculating if I could afford it. I started planning to resell it when someone told me straight in the eyes "you actually CAN afford this car". I just couldn't reconcile that I wasn't "broke" anymore. It is a relief, but I will carry this frugal mindset as I move.
If you focus on the interest rates, that means you can't afford the car. Because the salesman can give you any rates you want. They just have to adapt the period. The longer the period, the more expensive it becomes.
Bestie please don’t carry this frugal mindset on all purchases. This video is about folks who don’t do the math/buy the thing even when it doesn’t make financial sense, and that’s NOT the case with you. Money is a tool to help improve our lives - you did the math, it worked out financially, and it’s something that benefitted you & your mom, this is how money should be spent!
Affording a car does not means being able to pay the monthly payments. Save as much money as possible for a down-payment and pay the rest of the money as soon as possible.
Cars in general are a money pit because of the maintenance required to keep it safe and running. But the biggest trap is getting a car loan out on a car that can’t fit in your budget.
And just start. Because if you plan and don't act, you will never achieve your goal, the time will pass anyway and will not wait for you. Start where ever you are and with what you have.
It isn't the fact of wanting to enjoy life. I think everyone should. But if you have to finance or go into debt than you shouldn't. But it's people literal job to convince you that you should.
My husband and I are both 28, never had a car payment and paid off 26k of student loans 2 years ago. We drive our 2 year old around in a Nissan Armada with 218k miles on it. People probably think we are broke the way we live, but we love treating other people and saving for the future. We just aren't concerned with our image.
I bought an old car with 100k miles on it, but it was still 10k and I even put a couple thousand down. Some people NEED a car and don't have the money to pay for something that lasts long enough in full.
@@HBCSChannel anyone could get a 90’s beater for $1000 bucks in a condition that would last for 50,000+ miles 5 years ago. It’s harder now but no she didn’t have a car handed to her back then, cars were cheap.
Unfortunately due to the pandemic, “normal cars” are very expensive now. I’m in banking, interest rates are very high. Look into the credit unions for lower rates. Also, if you are in a shit loan with a regular car. Don’t beat yourself up, you are doing your best.
@@greedygenius123Well if the decision is made by there’s no need for the for should’ve, could’ve, would’ve. It’s done! At the point people need to learn their lesson and move on, not be shamed and made to feel guilty.
@@Shay416the used toyota is also getting a markup. There isnt any car level right now that isnt getting squeezed. Ive seen 2010s marked up to 30% or more
I’ve been on both sides of this. I purchased a 2013 beetle convertible and pulled out a $17k loan for it. The car DIED on me. Despite having full coverage and even gap insurance, nothing covers mechanical failure. Luckily it was already almost paid off. I had to use my emergency savings to pay that off, and pay for a 2007 Honda fit in full. It runs great on 220k miles! I even detailed the inside and threw on some car seat covers and decor to make it more personable
No offense my guy, but even for a car as cheap as a Beetle, buying a VW as a first is pretty fucking stupid. Look into reliability reports before you go deciding on a car. Really that’s one of the main driving forces behind me wanting a Ford Fiesta ST as a first car: it’s reliable (as long as you get the manual; the CVT in that thing is dogwater)
VWs have screwed a lot of people over. They market themselves like regular Honda, Toyota adjacent cars for people who want something a little different but VWs are just cheaper Audis. And Audis are built like they hate mechanics or any customer that wants to keep their car on the road
me getting my license at 28 have been a blessing in disguise. even though i’m considered “super late” from society. i’m now looking to get a used car and i want to pay in cash.
Yoy aren't late, you are PREPARED! Cars getting repossessed too, you can have dealers have a bidding war for you or negotiate better deals since you actually have the cash! You are in a great position 💜
I got my license late too and I miss not driving😂. I saved so much and I don’t even have car payments only need gas, maintenance and insurance. That already feels too much for me so then imagine a car payment.
Imma be real - I STILL don't have my license at 28. I've been ubering / lyfting around and it's been a lifesaver. I noticed before, EVERYONE was saying "oh, why don't you get a car?! Why don't you get a car?" Then realizing those same people stopped questioning me around a year or two ago...all of a sudden, people losing cars, and can't keep up with their insurance...RIP
its so wild to me, 46% of millenials spend money on things to impress ppl?? im out here deciding if i have enough money to splurge on a 99 cent donut while im buying groceries. just a totally different world from mine
Yes it crazzzzyyyyy! I knewaloy if people did this but seeing the stats is mind blowing, but the truth is the truth. 😩And I felt you on the donut splurge. My thing is the 4.99 Apple fritters at the grocery store bakery’s 😂 I walk past it fast to avoid temptation lol
I drive a 2006 Acura TSX yes it’s very old but I love driving this thing, one of the best cars I’ve ever owned. I’m 21 years old so money is short for me but yet I still keep up with the maintenance and the car runs like a champ. It’s not a bad thing owning older cars, you just gotta do your research and find a good one and you’ll be saving a lot of money on the long run.
I bought a brand new Honda Civic 13 years ago (Honda cars are so reliable), I paid it off in 5 years, and 8 years without a car payment is fantastic. As soon as my car was paid off, I transferred that money into my condo payment. Now I am 45 years old and I have no debt, I am absolutely debt free. I will keep this car until it dies.
I never have car payment, the first car I ever bought was for 3000, pay full in cash, drove it for 5 years till got into an accident and the insurance company decide to total it instead of fixing since it will cost too much to fix, got a check for 1700 and keep driving it for another 3 years till it stop, calculated the price of car monthly payment, insurance, gas, monthly parking fee, toll fee then decide that I can take the bus, do it for a couple of years then got work at home, just pay off my house last year, the freedom of no debt is amazing 🥰
This video is a life saver for me. I needed this message. I'm actually in dire need of new car but this video reminds me to be patient. Its better than being upside down.
I have a 2009 Toyota Corolla I love it!! No issues and everything works!! I'm not getting a newer car until I get more raises. I make decent money now but I'm waiting. You don't need a new car, you get a decent used car.
Really? She threw her money away. Why don't people understand the concept of making your money work for you? When was this concept lost? If you have the ability to pay off your car, It makes much better since to invest it because if invested wisely, you can make more each month than the cost of the car payment. Holy cow the older generations didn't teach you guys shit.
@stinkystu1 The thing is it wasn't lost. It was never taught in the first place. because it's an intentional to make people ignorant about financial literacy. That way they can make bank off you.or in this case a whole generation of people. They've done it with education, housing, transportation or any so called mandatory mile stone in life.
@@stinkystu1 Auto loans are amortized. Paying out the entire loan, you pay a hugely disproportionate interest rate. A $30,000 car at 7% over 60mo (common to get the monthly payment down) comes out to 21% total interest. Paying it off in half the time saves you over $3,000 in interest expenses and comes out to about 10%. Investing the same amount nets you about $5,000 more after the loan is paid off, but if you subtract excess interest expense on the loan it’s more like $2,000 and your car has further depreciated during that time, which would affect a balance sheet of net worth. As you can see, approaching money strictly in using liquid currency doesn’t account for what is actually happening to your net equity. So you’re not really coming out a head in terms of equity by investing that money. Paying off interest expenses sooner rather than later is making your money work for you because it’s going toward the principle of an asset rather than the cost of financing it. You’re saying she should’ve spent more money on the car, which is literally throwing her money away.
I remember when i started my career 13-14 years ago, I'd see in the parking lot of the clinic these BMW's and Mercedes owned by the medical assistants, who at the time were making about $12-$15 an hour (seriously underpaid). But the docs, NP's and PA's who worked there had old subarus and other older cars. I could never forget that. I had a ton of student loans then so I didn't feel the need to replace my 2005 corolla. I still have that 2005 corolla - has been with me for over 20 years.
I make only about $22/hr and I choose not to have a car. I also have a remote job, so I don’t need to go somewhere every day anyway. Through my work, I can get a discount added-value bus pass - I pay $10 out of my paycheck, and $30 is added to my pass. It does limit where I can go. My city has a decent, not great, public transpo system. If I go get groceries, I have to just buy what I can carry. It saves me so much money though not having a car, it’s the best way for me.
I got a Lexus. An old entry-level ES330 all at once with the insurance money after someone totaled my paid off car. Best car I’ve driven though. Leather seats and a smooth ride with Toyota parts/maintenance👌🏼
I am in my mid 30s, we have a nice income and our car is paid off for over 5 years. That money is well spent elsewhere. An expensive car won't make you rich, it's often just the opposite.
My nephews are like this, 20 and 24 they have no money and work under the table because they don't want to pay taxes, this way they can get foodstamps and healthcare free. Then they got cars with payments over 600.00 a month, plus high insurance from past tickets, one got a bmw and the other a mustang...come on! What's wrong with a jetta or corolla? Thats what everyone in their 20s had when I was that age, or the cheap suburu that looked like it fell off a mountain. I never thought someone was "better" because of a car.
Oh my gosh not your nephew's getting got like that 😫 I hate to see it and I hate to hear about it but I know it happens far too often to the younger adults. And I understand them wanting to look a certain way to others but the debt that comes along with it is not worth it. I really hope that they are able to change their mindsets because staying that way for too long really can really can stop you from getting what you want in life. And I agree no one is better than anyone we are all human we all have flaws. And material items (even money) definitely doesn't make someone better or less. Character matters! 💕💕💕💕
@SocialSymone Thank you, I hope so. Sadly, social pressure to "fit in" seems much worse for the younger adults, you would think they would stop judging each other for their clothes and stuff, since they are all suffering. BUT they all have to have the same 250.00 pair of shoes? I don't think there's much thinking going on. I subscribed BTW, you make too much sense to ignore.
My wife and I make enough money that we don’t worry about money. We make enough that a financial planner has been discussed. I drive a 15 year old car, my wife drives a much newer, but paid off, 5 year old car (kid mobile). She shops at goodwill, we upgrade our phones when they die, we get our gas at Costco, I never got a PS5 (PS4 still works), etc. Living below your means doesn’t require massive sacrifice, just thinking about what’s important. I spend less than an hour a day in my car, looking cool for that time isn’t important… my kids having a college fund is.
I felt that. You're speaking straight facts! Bought my used car for 5000, 5 years ago. I'm definitely getting my money worth and using my money to work for me while I work. Keep pushing that knowledge.
What never made sense to me is when people pay off their car and then turnaround and trade it in a few years later when it’s still in GREAT condition. Like, you spent all that money to pay it off just to give it back to a dealership and revert back to having a car payment again? INSANE.
"Some of y'all be on the internet a little too much and don't do any research into the things that matter." Listennnn. This is too true. Like how are you chronically online, but signing up for loans and making huge purchases with little to no information about what you're buying? Make it make sense!
Bought my in full straight cash. Best decision I ever made in life. The freedom and the amount of money I'm saving is crazy. Plan on moving out of my folks crib in the next year to year & a half
I remember a situation from 2020 when my coworker bought a new Dodge Charger base model. Her car payment was an astounding $950😮, which was a huge amount considering that we were only making $15 per hour at a small community bank. I was surprised by the high payment and told her that I barely had enough money left in my paycheck to cover my grocery expenses. This was back in 2020 when inflation was not a major issue yet. After she got her car, I would sometimes buy her lunch or we would share our lunches.😂
The Dodge Chargers seem to always draw people in! 😫 Not $950!!! This is BEFORE all the other stuff like insurance. Maybe she had lots of money in her family or something but MORE THAN LIKELY not. That is rouuuugggghhhhh
I remember working at the bank for a few years. Almost every time I had someone come in for their last car payment, the next month or so they had another car loan for a new car. I wasn’t complaining too much because I got paid a bonus for them opening a loan through us, but still was confused as to why they wouldn’t drive their perfectly good car for a few years longer and enjoy the extra cash
My husband and I have friends that have all these nice things and for the longest time we looked at them and thought, "when will it be our turn to have nice stuff." Then one day we talked to them about her staying home now that they are expecting their 4th child and they told us that they can't afford it because their bills are over $6000/month (probably $7000 now that he got a new truck). I've been able to stay home with my kids for the past 5 years because we don't have ths nice things and it's so worth it!
Went from 2 cars to 1 and best decision we ever did! Cargo bikes are amazing! Saving that money everytime i go to the grocery story or pick up the kids. A car no matter what owned cost $12k a year to use. Obviously it can go way above or a little below. Add on i dont need a need gym membership, and going to to grocery story now allows me to work out as well as doing an errand.
Love this video! Some people don’t understand why I don’t own a car and just Uber everywhere. Since I remote work, it’s genuinely cheaper to just get everywhere through Uber than purchasing a car + insurance + apartment parking + tolls + literally everything else I’m forgetting. I don’t want that commitment. You guys can keep your car payments 😂
You are doing what makes the most sense for you and your wallet and there is no shame in that! And I'm with you Forget them car payments! Won't catch us in the trap! 💕💕💕💕
My friend just bought a 2024 Chevy Malibu and his car note is over $750, with insurance that puts him at a stack for a fucking Chevy Malibu. It’s not even about the car, that is by far the dumbest shit I’ve ever heard in my life. But thanks for the reality check that everyone driving these cars is rich.
Not a Chevy Malibu bro. Just sold my 2013 POS Malibu and bought a Jeep for 4k. I will ride it until I can’t repair it anymore and then buy another used car
I nearly passed out when I heard the average car payment in the US is $650-$750 😮 keep in mind I grew up when expensive was $300bucks. It's insane rn. A car ain't worth the stress y'all
People mock Dave Ramsey and call him behind the times and out of touch. I’ve heard people complain that the starter emergency fund isn’t enough, yet he recommends $1,000 and you read a stat that said most people don’t even have $500. He says stay away from credit cards, and people brag about how diligent they are with them and love the rewards, but then you hear the average credit card debt. He says no car payment, but a beater if needed, and don’t buy new unless you’re a millionaire. People laugh at it claiming they’d be spending way more to keep an older card on the road, yet what they pay in car payments and accessories for it is way more than what they’d be spending on maintenance for a slightly older vehicle. My husband and I don’t follow Dave as much anymore because we are baby step 7 now. However, following his principles has saved us from a lot of bad decision making over the years.
Girl I subscribed some time ago but i've been avoiding watching you content because I know I make really bad finacial decisions. Watching your videos really made me have a reality check. Thanks girl
"Treating yourself into broke-dom" had me cackling. Seriously such an important message. No one is telling you not to get something nice within your means every now and then but you know what's going on in your life. Lying to yourself about your financial status is hurting you; other people are not going to care. I'm thankful to have always lived in areas with serviceable public transit and I saved so much money with no car. Enough to invest in me and get a much better job. Now I work from home and could I get a car within my means, yes. But why would I when I've never personally needed one? I understand and support living in and being thankful for the current moment. Not "living like there's no tomorrow" cause if tomorrow comes then where does that leave you. Live life with a little responsibility and forethought.
I agree with you 1000% But when people want what they want sometimes all of the truth goes out the window. You are winning out there with no Vehicle cost! And making the best decisions for yourself! 💕💕💕💕
completely agree! People are so focused on flexing that they are willing to be stuck with a huge monthly payment for six years when they could buy a cheaper car/beater and spend that money on so many other things
I am broke and I am proud 😂❤❤❤ driving an old honda. Honestly I am still not financially there but I am in a better place than before. I used to spend so much on stuff!!!! That is why I love watching these videos. Now I have a backdoor Roth-IRA/contributing to 401k. I have a house and 2 condos overseas for future air bnb rentals. Watching these kinds of videos tames my spending habits. This is so therapeutic for me. I still have credit cards which I pay more than minimum. I am still paying student loans. I just want to echo it out there because I know I am not alone. ❤❤❤
Another good vid, thanks for sharing! I had a friend who "owned" a bmw at $800 per month payments and owned no house or condo or anything and had bills out the wazoo. I tried explaining it to her and she got mad. (Notice I said "had" a friend). She told me she deserved that car. She bought the same car as another friend of hers but she did not share the interest rate with me. When she bought it, ahe tied a bow around it as a present to herself. 🤷🏾♀️ To this day, I still feel bad for her. How delusional!
Thank you 🥰 and $800 IS WILD!!! That’s not even with insurance or anything else!? The BOW is wild too. Do you think the bow was to make it look like someone else bought it for her? 🤨 or for the picture? I am sorry that you were not able to get through to her. when you try to talk some people out of things like this they just get mad and sometimes even think you’re hating when you are really trying to help. smh
So glad I avoided this trap. I got only $700 left to pay off my 2015 and Im riding it until the wheels fall off! (Hopefully another 10yrs) Not getting another car unless I have to and until that happens saving tons of money for investments and emergencies until then. This is what too many people need to watch! You nailed it
I turned 30 and broke. I'm gonna be in my mid 30s and broke. I'm not gonna pretend I'm not broke. I think the thing is that you can't get something nice within your price point. Sometimes the "nicest thing" is the most expensive coffee and cheese at the grocery store.
EXACTLY! Nothing wrong with being broke and acting Broke. I feel many are ashamed but you can change alot in a year or overtime you can gain more resources. Shopping within your price-range is wise. I wish some people didn't just straight up ignore what they can really afford and put themselves into big debt while doing it. I wish you all the success! 💜
Nothing wrong with that. With just a few hundred a month, you can end up a millionaire by retirement. Age 30 is young. You have over 3 decades of compound interest before retirement age.
@@stocksxbondage I get what this was supposed to do and I appreciate it, but I'm literally cheering my newly forming crows feet lol. I'm gonna have fun regardless lol.
I have a client that has 3 huge trucks, all financed. All three of them have notes ranging between $1,000 to $1,600 per month. Nuts!! That’s a mortgage payment!
Bro that Big Tymers reference just earned you a sub because that killed me😂. I also watched buy now pay later video, sister you spittin facts I’m definitely gonna watch some more videos after I finish these dishes 😭
Keep in mind that owning a car is a absolute necessity in the United States. Even for those 16 or 18yr olds. Maybe their parents are unavailable. Got to get to work, school, the grocery store. In many parts of the US, if you don’t have a car you’ll “die” have to bum rides off people or move to a more expensive area that you probably can’t afford anyway. I’m not referring to the BMW and Cadillacs but cars in general.
Subbed. You talking real life, I love it And I’m currently paying a $640 car note on a 2022 Toyota Corolla. The car is EXCELLENT but sheesh, if I would’ve been more responsible in my 20s, my interest wouldn’t be 14% right now. We need to get it through our generations head that it’s ok to live IN YOUR MEANS not above it!
I’m also a new subscriber and I LOVE her!! I listen to her to keep me on track and fill in the space that all the super consumerism nonsense could be filling up in my life. Much better this way
I drive a 13 year old car. Toyota. Paid for. I will never buy a new car. Absolutely wasting money. Buy a year or two old car that is a certified used car with a warranty and save tons I live in a 1966 fixer upper. 2900 sq feet. Paid for. Eliminate your biggest expenses by scaling back your expectations and requirements and stack your cash. I worked in my credit score and saved a down payment. Used a homeowner buyer program to get started. Then sold my house in a high cost of living area and bought an old Fixer upper in a low cost of living. It’s not HGTV but my house is paid for now. I work remote.
Dream car 😂 My husband and I bought our first brand new car when he was 51 years old, I was 48. He drove used cars that he paid cash for, exclusively until last year. When asked what I was looking for in a car by the salesman, I replied, “I don’t want to appear as if I’m overstepping, but I would really love it if all of the doors could open and shut properly.” That’s how low the bar was. We bought a Toyota. Why the switch at 51 years old? Because he works swing shift and was white knuckling it every night hoping he would make it home. He’s got high blood pressure at this age and doesn’t need that stress. Now. At 51 years old. A dream car in our 20s? There wasn’t even room to think about such things. Warranty and road side assistance, glad to have them but we waited a long time to do it. You know, now that our kids are grown 😊
Spot on again. I don't have a car because I don't need it, I live in a walkable city with public transit. I understand if people truly need it but I have some of them around me constantly selling and buying a newer model while trying to make ends meet. Maybe there is a math in there I don't get but the amount of mental real estate it requires seems exhausting.
Thank you! And I agree, I can’t figure it out either! Cars make some people forget they have to go work for it or something. And you are really winning living in a walkable city! 🥳 That’s how you really cut back and rack up!
Back in college, I worked a job and saved up to buy my first car and that was the best decision I made. My first car I brought in 2017 was a 2014 Kia Rio ( I graduated college in 2017 as well ) but unfortunately I let my brother borrow my car and he totaled it. I saved up money to buy my second car again and in 2019 I got a 2015 Kia Forte. It’s reliable and in great condition. I also don’t have a car payment. I only pay car insurance. My brother, on the other hand, decided to buy an old 2009 BMW. His car is constantly breaking down and they ripped him off with his car payments. He is paying $500 every month for his car payments and that’s not even including car insurance. I told him he should save up to buy a Kia like I did and get rid of his old BMW but he won’t listen. Now he is stuck with a car that constantly breaks down and a high car payment.
😂 Reminds me of my Lil cousin. Never had a stable job but "bought" a Q5. Beautiful heavy weight in the driveway because he can't afford to fix it. Smh. He had fun flexing it while it lasted.
I drive a Hyundai Palisade and it’s a wonderful SUV for my family. It’s beautiful and bought it for $38k. It’s really affordable and have had ZERO issues with it even at 50k miles. It’ll be paid off in 3 years and I can’t wait
I think saying that people who are poor "don't deserve it" is harsh and not the right wording. What they really don't deserve is the pressure of keeping up with a lie that they have it like that. Rich kids from rich families don't "deserve" these luxuries more than the broke ones but they don't end up suffering for having it like the poor ones. Regardless I agree with everything else you said.
Missed living somewhere with reliable public transit, was able to live in Seattle on my own bc of how much I saved. Now it’s more expensive to live in yeehaw Midwest bc a car is a must out here. Even with perf credit the lowest interest for me is 7.5% 😭
If you can avoid the 7.5 al together then it's not too bad paying cash at least. But not having the public transportation now I'm sure makes that way harder To save. It is really helpful if people are able to take advantage of It as a resource😔 I hope you are able to find something that works well for you where you currently live.
I drove a 1996 Honda Accord for 5 years and got rid of it last year. It was costing me $1k a month on maintenance and it would never be truly fixed because I didn’t have enough money to fix everything. The moment I finally got rid it, all the stressed I had immediately went away. And I’ve been able to finally save money. I’m now much happier and wealthier taking public transport and the occasional Lyft/Uber rides. I don’t plan on buying a car for at least a year. Since I’m prioritizing building up my emergency fund and fixing my spending habits. Once I feel ready for a car I will only buy from an owner and have the money already saved up for it. Don’t fall for these tricks from the dealerships ripping you off and trying to impress broke people.
Oh my! If you don't mind me asking why was the maintenance on it $1000 a month? None the less it is such a blessing that you do not have to deal with that anymore! 🙌 I am happy for you because I can only imagine the stress. Though you may have dealt with that it seems that you have the mindset to be very successful in the future because you are willing to delay gratification for what you want by saving and fixing your spending habits. So this was a minor setback for a major comeback! 💕💕💕💕 And yes you are so right it's not worth it to get ripped off to impress broke people!
@@SocialSymone Things adding up since I didn’t have enough money at the time to properly fix it at the moment. Instead I was only able to do temporarily fixes. My driver’s window got stuck moving back up. We temporarily pulled the window up since it got stuck but that later down the road caused my driver’s door to not open when getting out of the car. Car battery failing on me a few times. Back tires still needed to be replaced, behind on oil changes, had to replace the front brakes again and it still needed the back brakes and new axles. On top still paying for gas and insurance. After fixing the brakes, my car started not wanting to turn on again. So I decided to get rid of it. It was a lot for me to manage since I live on my own and rely on myself finically. But boy! The relief and joy I felt after getting rid of that headache! It was my first car and I didn’t properly ensure I had even savings for after I bought the car. I rushed into it so that’s way now I’m taking my time. Until I met my savings goal where I’m comfortable is when I’ll buy a car again.
@@carmenflores8528Sounds like whoever sold you the vehicle was dishonest about its state. 5 years ago, I purchased a 2012 Mazda 3 for 2700$. I only had to pay about 1500$ in maintenance. It's been running great since.
@@theprofessor2817 We got the car from a family friend for super cheap. I was 19 at the time and didn’t bother asking about the car’s conditions I just trusted my dad’s word for it. He said all it needed was a new AC… Now I know better to be more informed and bring a mechanic with me to check out the car before purchasing.
This is a hard truth: you don’t deserve everything you want. There are things that you should not get no matter how hard you work for them. And having things isn’t a reflection of who you are.
Here in Atlanta also. Line of mercedes, bentleys,lexus,tesla and Cadillac. No bike riders or walk ins. Maybe il video next Mondays food bank at church.
Bought a new mustang at 18. Not even a base model - this one was customized with the brown leather, manual, tech / audio package, etc and brought in from out of state. Dumbest, dumbest decision of my life. Got rid of it at 22 and drove a $1500 beater car for years. Finally started crumbling about a year ago, disclosed all it's problems and sold it for what I paid for it, and now I have a nice car (well, way nicer than the last one lmao). I spent $6k. Little 4 cylinder gets 40mpg, $60/mo insurance, and makes me drive nice and slow. No rush to an early grave like the mustang... AND I can save for a house. I really wish more people would watch this video!!! My family likes to buy brand new trucks every 2 to 3 years. It's INSANE. My sister, jobless for 2 years but recently got a job (I'm talking 2 months ago), has been driving a new Audi for those years, making those ridiculous payments. For what?! Little sister decided to follow in the family's footsteps and bought a used car for MORE THAN STICKER. Literally paid $31k for a USED car which had a sticker price of $30k brand new!!! They left the original window sticker in the glove box!!! Now she can't afford college, but at least she thinks she's flexing with a 15% interest rate and $300/mo insurance
Treat yourself to nice tub of ice cream, treat yourself to that new movie that just came out, treat yourself to a nice dinner. Above all, treat yourself responsibly at all times. Paying rent or buying a house is already expensive. You'll never be able to buy a house if you choose to drive around in a car that costs the same or even more a house downpayment. A car can easily be repo'd but it often takes months, sometimes years before a house can be foreclosed. A flashy car won't keep your belly filled, clothe or shelter you. Showing off or trying to keep up with the Jones who can't even keep up with their own bills is an eternal black hole of financial destruction. Having a working car is a need, having a flashy car is a want. People need to know the difference and practice financial modesty.
As a young mechanic I'm telling you right now . The cars I have seen the least come into the shop were Honda's, Toyota, Subaru's, Ram(Trucks believe it or not), Acura, and Lexus. Buy those and you'll save yourself a lot of money. And keep up with the maintenance, no going 1000 over your oil change limit unless you got money to replace an engine.
I know someone who pays 500 for a car each month. He is on his mid 30s living with his parents without paying rent or saving money for a house. It blows my mind. That money could be used to rent a room or save for a down payment. I pay 615 for a studio by myself. Once, he dismissed a potential partner for having a better car than him. Another time, he said he was a better choice compare to a 19 year old that doesn't have a car. In the back of my mind, a 19 year without a car is not a big deal. A bigger deal is a man on his 30s who is still leaves with his parents without paying rent. 🤷🏽
I really appreciate that! It’s hard to keep people informed because most people get bored with statistics, articles and etc. Which I understand, but I’ve been trying keep it fun too..So this is a HUGE compliment to me that you received a good mix of both! 💕💕💕💕
Lol. Great video. I really miss having bus service in my neighborhood. I took it all the time. The city bus is pretty gross so I do prefer the ride apps on most occasions but there were times when the bus was a good option. I will NEVER have a car note. These vehicles are soooo expensive. It's ridiculous.
I daily drove a Camaro SS for a year. Decided the maintenance would become costly if I kept it, so I decided to make a change. Paid cash for a Toyota Corolla and I feel so relieved. I’m honesty enjoying it more and have more peace than before.
What's the highest car payment you've heard or seen and do you know anyone with a 🚗Car or flexing obsession? Also what's your phone 🔋on? It's 9:12 p.m. here and I'm on 47%😭
34% at 11am. 😬😢
Highest car payment among ppl I know is $980 per month for a 2023 dodge charger! Crippling.
Now @adnaloy0925! IT’S TOO EARLY FOR THIS 😂
@The_Food_Police Ridiculous! Is this person Rich or have lots of money? I hope this is not a normal citizen, cause if so… 🥴
@@SocialSymone lol this person makes 60k per year so just middle class. They're almost drowning!
When my car got totaled, I had the option to use my settlement money for a down payment on the gorgeous new car I wanted or a nice but older car paid in full. Decided to pay in full and had extra to pay my car insurance up for a year and put the rest in savings. Literally the best financial choice I’ve made
You beat your emotions! That's 98% of the battle, good sht!
Good for you! This is such a good decision I’m. In the same situation (I hope you’re okay from your accident).
But yeah, I could buy another luxury car but I’m not. I’m going with a sensible car this time.
Yes, in 10-years later would you prefer to have a new automobile that, is now old or $100,000 in investments? (smile...smile)
Very wise.
@@chrisSea1346 You save even more money if, you get a sensible used car and not a new model. Ask your local car dealership to let you know when lease models of the car, you want will be returning. Once received dealerships normally re-sell these used cars as "certified used" and, will many times also provide a nice warranty (smile...smile).
"Gas tank on E, but all drinks on me"
Wipe me dine 💃🏾
we thank god every day ! loll
Fresh kicks, fresh white tall tee
Lil Boosie!!!
😂😂😂😂
My car IS a status symbol, and I use it as such.
When people see me in a late 90s car with peeling paint and 200k miles, they see nothing of interest or desire. I become invisible or irrelevant, which is EXACTLY what I want!
Mine is early 2000s with a couple dents, some paint scraped off, paint peeling, and logo faded. I love not having to stress about another scratch or dent that's inevitably going to happen. Being invisible or irrelevant is definitely a good perk.
At least maintain the old car and not let it fall apart. What’s next, wear shoes with holes in them.
I can have 700k in my account and STILL push a 2013 Altima or a Toyota
This !
I'm not even religious but you got me saying amen!
This is facts, my car is nearly paid off and im actually in the process of financing another one as we speak, im going to phone them and cancel the application. You're right, thank you.
🙌🏾
Smart move, congrats 👍
I hope you stuck to this, and are able to put that money elsewhere. Congratulations on it being almost paid off, though!
I did this and it was a huge mistake. Don’t finance another vehicle after you have one paid off. Don’t finance another car ever!
@@whyguitarguy1 Oh I stuck to it alright, still driving my 2016 Mazda ! Ain't gonna buy another car for ALTEAST 5 years. Mostly thanks to this video!
Hondas and Toyota for the win.
I never heard anything bad about honda until this video. Someone in another comment said that they had 1K worth of maintenance on it monthly. But other than that Honda's in Toyota's have always been the car is that I would pick from. I personally have only ever owned toyotas and prefer them and they last forever!
Yup if only they didn't cost the same as 2 cars now.
@@JM-bb8xi get a used one
Stay away from those newer Hondas. Those CVTS don’t last.
Hunned
Paying off my car was the best decision of my life. Imagine the freedom that you'll have when, all of a sudden, the 2nd biggest bill you have is ELIMINATED.
Congratulations! I know the felling and said I’m riding mine till the wheels falls off! 💕💕💕
And now imagine you keep paying that car note to yourself and put it into a a index fund and then when you need to get a different car, you make some clicks, wait a few days, and bam that money lands into your account. Then you go get the car you want, write a check and go on with your day. You can buy a brand new car in less than an hour.
@@humm23 THIS!!!! You are winning! 🏆
@@SocialSymone I am just a big nerd, who learned the power of money early. I can drive anything I want, I CHOOSE what I have a '12 Outback with 120K miles on it.
@@humm23 I see you! We love Nerds over here! 💕💕💕💕
I was caught in the trap in my early twenties. When I tell you I had credit card debt, student loan debt, car payment debt and no savings. Today I’m 29, paid off Honda, no more student loan debt, no credit card debt, 10K emergency fund in my high yield savings account. I had to become a new person mentally.
When I was making $40k out of college, I was driving a $30k BMW in an attempt to look successful. I learned the lesson of delayed gratification a couple years later, as I earn more, I stopped purchasing more expensive things. I earn 5x now and drive a 12 year old Honda that costs $10k.
Make future you proud.
Cars cost too much money even when PAID OFF. Gas, maintenance, insurance will STILL f up your budget.
Agreed! Thats why the totap cost is important to factor, along with costs going up 💕
And insurance is going up every 6 months not like the annual like it used to be
Buy a cheaper vehicle then.
@@SocialSymone Absolutely. When I was researching what car I wanted to buy I made sure I looked up the average maintenance costs per year and whether the car was good on gas to see what I wanted to purchase.
Mine's paid off. Hardly have to do any maintenance, just change the oil myself. $25 a week to fill up to fill at Costco once a week. Toyota Prius 2017. I did take it for some other regular maintenance but it's at 130k now. Had it since 28k.
Toyota gang checking in here. Still driving around a 2004 Toyota Sienna with 200,000 miles on it. No car payments barely any insurance and a full bank account have me sleeping soundly at night 😴
2005 Camry with 160K miles. Riding it until the wheels fall off.
1998 Toyota Avensis with 106K miles :-)
It's starting to rust quite a bit, though.
Do you guys in America also spread salt on the roads in winter to decrease the melting temperature of the ice? That is really hard on the poor cars.
I'm dating a mechanic and we drive vehicles ranging from '90 to '05. All of then are absolute solid tanks and barely have issues other than just some easily fixed wear and tear. New cars are built to nit last AND make you spend a LOT more becuase the issues 1) have to be fixed at a dealer with the cars software and 2) when one thing goes wrong it's connected to other things that cause other issues. Buy older cars!!!!
2011 Camry…169k miles and going strong
Got my mom’s 2008 Lexus for $7,500 paid off. She’s been very low maintenance
I’m sending this to my children. My son will graduate from college with no student debt and a paid off RELIABLE car. He doesn’t understand how much of a flex that actually is.
Living in Atlanta I learned to ignore what nice cars people drive. I know SO many ppl in luxury vehicles who are broke as hell. The maintenance $$ on that shit is STOOPID.
Same. Everyone I know that has money and is comfortable within their finances, owns their home etc drives a modest vehicle and lives a normal lifestyle. Everyone that I know that drives a luxury vehicle is broke and struggling to pay their bills or they live with their parents or other family members. It’s mind blowing. I think it all comes down to maturity and responsibility. People are delusional and social media was the worst thing to ever happen to this generation. Regular people are trying to keep up with these social media influencers and completely lost touch of reality.
That’s a real epidemic here
I had a coworker who whole identity & self-worth was tied to his Escalade! When he would feel bad about himself, he would literally remind everybody he had a Escalade!
I’ve met people like that 😂
My vehicle helps in keeping me happy. I know guys paying over $1000 per month on child support and/or daycare and they're miserable. Protect your mental health by all means
😅
Whenever i see one at a buy here pay here there is a twinge of temptations to buy it and put it on spinners like an early 2000s rapper
So weirdddd
The worst financial decision I have ever made is financing an SUV. I will drive this thing until it cannot drive anymore and then I will NEVER finance a car AGAIN.
I don't know your situation so don't take what I say too seriously. I'm just wondering if keeping an SUV is financially sound long term, like extra fuel cost, more depreciation etc
@@tomlxyz some people are just too addicted to driving up high, and feeling "safe" despite the costs and the fact they are far worse for safety for everyone outside the car
I don’t finance at all anymore
SAME.
@@zwicker5585well I got one because its much easier with 2 babies. Not having to bow down every time you put them in the car is big for me.
In 5-6 years this is gonna change tho
This video is pure facts. I’m 22 years old and earlier this year I bought a 2015 Toyota Prius with cash. Meanwhile, my friends are driving BMW’s and Tesla’s but they really can’t afford them. They’re trapped in high interest loans, drowning in debt and repairs, struggling to pay off their cars. Meanwhile, I’m living comfortably driving my Prius. My car might not look as cool or flashy as theirs, but that’s the point. They look like they got it like that but they don’t. I actually do.
four 15's didn't see no wires, and then I heard a boom from the amplifiers
This is THE COMMENT 😂
Nawww me and my 2000 Honda civic getting rich together. The gas saver 🎉
Amen 🙏🏾 Amen 🙏🏾 Amen 🙏🏾
My 2001 accord met an untimely end, so now I drive a 2011 accord that’s totally paid off. I will drive it until it physically falls apart. It will give upon me before I give up on it😂. I prefer my cars to be paid off, zero screens, and with a decent mpg.
Bless you my 2000 Honda Accord still rolling on 300k+
honestly! i wanted an older car anyway since i have a lot of cds i wanted to play through it, and only the older models have cd players, let alone cassettes (which i have a couple of). this is my main reasoning for buying an older car but honestly this video is giving me more practical reasonings 😂
9:34🤣
I feel so called out and I am SO glad for it. I was just looking at cars last night delusionally thinking I deserve it. What I deserve is my current paid off car and a retirement fund
Treat yourself..... with something more reasonable cause the world is going to hell!
Every now and then it is actually okay to treat yourself. If you die tomorrow you wont take anything with you, someone else will enjoy your hard work. Ibtreat myself with things i enjoy doing but responsibly.
‼️
@@ToniaAlex13treating yourself is all well and good but this person already has a working vehicle so maybe a nice trip or something else would be a better treat not a treat that they will end up paying for for years
2016 Camry & 2016 Odyssey over here. Every time I take my car in for an oil change, some desperate salesman tries to sell me a new car. I always respond with “Why would I need a new car? This is a Toyota, it will drive forever.”
I sold cars for 4 years in cali. You would be SHOCKED how many people accepted 28% interest rates. Even after i recommended they shouldnt!
yeah i have like a 3% interest rate my friends said THAT was high. partner has a 0.7% interest rate :0
Most of my wealth was wasted on 4 cars in less than 15 years. Currently driving a paid off 2016 and I've never felt better about myself.
We all have made mistakes but you learned from it. I'm glad you have your car paid off! You should be proud of yourself. 💕💕💕
2016 is still a solid year lol. not sure what everyones obsession is with getting NEW marked up vehicles. Get the same 2023 model you were initially planning, in the 2019 variant or something.
1. will already be depreciated, so the value youre paying, is about where itll balance out at.
2. youre not paying overmarked prices, for the same thing lol. (besides maybe subtle different useless features on newer ones.)
Listening to this, I started feeling bad, because when my mom's car broke, I decided to give her my old car and buy a new car. When I went to the dealership, I had an amazing deal on my dream car. I made the calculation and the interest rate was peanut. I had the means and I bought it. The next following months, I kept feeling guilty and recalculating if I could afford it. I started planning to resell it when someone told me straight in the eyes "you actually CAN afford this car". I just couldn't reconcile that I wasn't "broke" anymore. It is a relief, but I will carry this frugal mindset as I move.
If you focus on the interest rates, that means you can't afford the car. Because the salesman can give you any rates you want. They just have to adapt the period. The longer the period, the more expensive it becomes.
Bestie please don’t carry this frugal mindset on all purchases. This video is about folks who don’t do the math/buy the thing even when it doesn’t make financial sense, and that’s NOT the case with you. Money is a tool to help improve our lives - you did the math, it worked out financially, and it’s something that benefitted you & your mom, this is how money should be spent!
If you know you can afford it, this doesn’t apply to you
Affording a car does not means being able to pay the monthly payments. Save as much money as possible for a down-payment and pay the rest of the money as soon as possible.
If you have to finance a depreciating asset, you can’t afford it.
Cars in general are a money pit because of the maintenance required to keep it safe and running. But the biggest trap is getting a car loan out on a car that can’t fit in your budget.
Here's my flex: Fully paid off 2003 Dodge Neon with 150+ miles on it. Still running just fine!
I’m excited to make healthy financial changes. No more games it’s time to be smart with money.
You can do it! You just gotta see it through 💕💕💕💕
Periodt! Like didn't we learned that from #MissRona 4 years ago !?
Live within your means and keep those overhead costs low. Step 2: Invest. 💪🏾
Save your money and buy a piece of land, the best investment, or goal, you can have in life is getting you your own piece of earth.
And just start. Because if you plan and don't act, you will never achieve your goal, the time will pass anyway and will not wait for you. Start where ever you are and with what you have.
Sadly these days "treating yourself; enjoying life" = wasting money on something you don't need.
OMG this!!
Because a lot of people don’t believe they’ll ever have the ability in the future. So they say “screw it” and just buy whatever now
It's always been that way
It isn't the fact of wanting to enjoy life. I think everyone should. But if you have to finance or go into debt than you shouldn't. But it's people literal job to convince you that you should.
That's exactly what a treat is.
You don't *need* 🍦but....
“Most people don’t want to be rich bc that takes responsibility. Most people just want to spend a million dollars” - Someone online.
My husband and I are both 28, never had a car payment and paid off 26k of student loans 2 years ago. We drive our 2 year old around in a Nissan Armada with 218k miles on it. People probably think we are broke the way we live, but we love treating other people and saving for the future. We just aren't concerned with our image.
🙌🏼🙌🏼
U had the luxury of getting a car handed to you clearly or was lucky buying a car from someone that wasn’t a lemon so chill
I bought an old car with 100k miles on it, but it was still 10k and I even put a couple thousand down. Some people NEED a car and don't have the money to pay for something that lasts long enough in full.
People probably didn't think anything.
@@HBCSChannel anyone could get a 90’s beater for $1000 bucks in a condition that would last for 50,000+ miles 5 years ago. It’s harder now but no she didn’t have a car handed to her back then, cars were cheap.
Unfortunately due to the pandemic, “normal cars” are very expensive now. I’m in banking, interest rates are very high. Look into the credit unions for lower rates. Also, if you are in a shit loan with a regular car. Don’t beat yourself up, you are doing your best.
You’re not doing your best when you could’ve bought something way more modest for cash.
Buy a used Toyota that you can pay for in cash. There's always a better way to the same place. People need to excercise discernment.
@@greedygenius123Well if the decision is made by there’s no need for the for should’ve, could’ve, would’ve. It’s done! At the point people need to learn their lesson and move on, not be shamed and made to feel guilty.
Good advice. Thanks Amelia ❤
@@Shay416the used toyota is also getting a markup. There isnt any car level right now that isnt getting squeezed. Ive seen 2010s marked up to 30% or more
This is so so so refreshing seeing a young sister talking like that! Your money mentality is GOLDEN! Keep doing to the GREAT work! God Bless!
I’ve been on both sides of this. I purchased a 2013 beetle convertible and pulled out a $17k loan for it. The car DIED on me. Despite having full coverage and even gap insurance, nothing covers mechanical failure. Luckily it was already almost paid off. I had to use my emergency savings to pay that off, and pay for a 2007 Honda fit in full. It runs great on 220k miles! I even detailed the inside and threw on some car seat covers and decor to make it more personable
No offense my guy, but even for a car as cheap as a Beetle, buying a VW as a first is pretty fucking stupid. Look into reliability reports before you go deciding on a car. Really that’s one of the main driving forces behind me wanting a Ford Fiesta ST as a first car: it’s reliable (as long as you get the manual; the CVT in that thing is dogwater)
VWs have screwed a lot of people over. They market themselves like regular Honda, Toyota adjacent cars for people who want something a little different but VWs are just cheaper Audis. And Audis are built like they hate mechanics or any customer that wants to keep their car on the road
@@omostim2385 at least Audi has luxury and craftsmanship going for them. VW doesn’t even have that
@@mrsoisauce9017 Right. Same issues but nothing nice to look at or feel
me getting my license at 28 have been a blessing in disguise. even though i’m considered “super late” from society. i’m now looking to get a used car and i want to pay in cash.
Yoy aren't late, you are PREPARED! Cars getting repossessed too, you can have dealers have a bidding war for you or negotiate better deals since you actually have the cash! You are in a great position 💜
@@SocialSymone thank you so much. and this is great information i will use. hopefully i will have an update before the end of the year. 🥰
Same! I got my license at 26, and it's been a blessing in disguise.
I got my license late too and I miss not driving😂. I saved so much and I don’t even have car payments only need gas, maintenance and insurance. That already feels too much for me so then imagine a car payment.
Imma be real - I STILL don't have my license at 28. I've been ubering / lyfting around and it's been a lifesaver. I noticed before, EVERYONE was saying "oh, why don't you get a car?! Why don't you get a car?" Then realizing those same people stopped questioning me around a year or two ago...all of a sudden, people losing cars, and can't keep up with their insurance...RIP
its so wild to me, 46% of millenials spend money on things to impress ppl?? im out here deciding if i have enough money to splurge on a 99 cent donut while im buying groceries. just a totally different world from mine
Yes it crazzzzyyyyy! I knewaloy if people did this but seeing the stats is mind blowing, but the truth is the truth. 😩And I felt you on the donut splurge. My thing is the 4.99 Apple fritters at the grocery store bakery’s 😂 I walk past it fast to avoid temptation lol
@@SocialSymone girl or the 1.50 lil single-serving pies??? THOSE are whats keeping me poor lmfao
😂
I'm surprised it's that low. Only 46% have ever bought a shoe, a shirt, a bag, a phone, with social status in mind? Seems shockingly low
Trust me, my 2018 Honda civic is not impressing anyone 😅
Compound interest is the eighth wonder of the world. He who understands it, earns it. He who doesn't, pays it.
I drive a 2006 Acura TSX yes it’s very old but I love driving this thing, one of the best cars I’ve ever owned. I’m 21 years old so money is short for me but yet I still keep up with the maintenance and the car runs like a champ. It’s not a bad thing owning older cars, you just gotta do your research and find a good one and you’ll be saving a lot of money on the long run.
I bought a brand new Honda Civic 13 years ago (Honda cars are so reliable), I paid it off in 5 years, and 8 years without a car payment is fantastic.
As soon as my car was paid off, I transferred that money into my condo payment.
Now I am 45 years old and I have no debt, I am absolutely debt free.
I will keep this car until it dies.
Yay!!
No seriously! I got a Honda civic too! And I can’t wait to pay it off and just keep it until it can’t no more 🤣
@lidiasdiary Well, most people would pay it off and buy a new car right away.
Typical materialistic people
I never have car payment, the first car I ever bought was for 3000, pay full in cash, drove it for 5 years till got into an accident and the insurance company decide to total it instead of fixing since it will cost too much to fix, got a check for 1700 and keep driving it for another 3 years till it stop, calculated the price of car monthly payment, insurance, gas, monthly parking fee, toll fee then decide that I can take the bus, do it for a couple of years then got work at home, just pay off my house last year, the freedom of no debt is amazing 🥰
This video is a life saver for me. I needed this message. I'm actually in dire need of new car but this video reminds me to be patient. Its better than being upside down.
I have a 2009 Toyota Corolla I love it!! No issues and everything works!! I'm not getting a newer car until I get more raises. I make decent money now but I'm waiting. You don't need a new car, you get a decent used car.
It is so refreshing to see a young woman who's financially literate.
Really? She threw her money away. Why don't people understand the concept of making your money work for you? When was this concept lost? If you have the ability to pay off your car, It makes much better since to invest it because if invested wisely, you can make more each month than the cost of the car payment. Holy cow the older generations didn't teach you guys shit.
@@stinkystu1Cheapest loan I could get was 7.19%. the average non-Warren Buffet is not doing much better than that in investments.
@stinkystu1 The thing is it wasn't lost. It was never taught in the first place. because it's an intentional to make people ignorant about financial literacy. That way they can make bank off you.or in this case a whole generation of people. They've done it with education, housing, transportation or any so called mandatory mile stone in life.
@@stinkystu1 Auto loans are amortized. Paying out the entire loan, you pay a hugely disproportionate interest rate. A $30,000 car at 7% over 60mo (common to get the monthly payment down) comes out to 21% total interest. Paying it off in half the time saves you over $3,000 in interest expenses and comes out to about 10%.
Investing the same amount nets you about $5,000 more after the loan is paid off, but if you subtract excess interest expense on the loan it’s more like $2,000 and your car has further depreciated during that time, which would affect a balance sheet of net worth. As you can see, approaching money strictly in using liquid currency doesn’t account for what is actually happening to your net equity.
So you’re not really coming out a head in terms of equity by investing that money. Paying off interest expenses sooner rather than later is making your money work for you because it’s going toward the principle of an asset rather than the cost of financing it. You’re saying she should’ve spent more money on the car, which is literally throwing her money away.
I remember when i started my career 13-14 years ago, I'd see in the parking lot of the clinic these BMW's and Mercedes owned by the medical assistants, who at the time were making about $12-$15 an hour (seriously underpaid). But the docs, NP's and PA's who worked there had old subarus and other older cars. I could never forget that. I had a ton of student loans then so I didn't feel the need to replace my 2005 corolla. I still have that 2005 corolla - has been with me for over 20 years.
Amazing 🙌
How can you own a 2005 Corolla for 20 years in year 2024? Hit me up I wanna know more about time traveling.
@@cblu5254 Car years are usually named for the year after they were released. A 2005 Toyota was probably released in 2004.
My doctor (retired) owned his practice had an Avalon, still in crisp condition to this day. He has a really nice house, man knows his assets
Corolla are beasts. 🙃
I make only about $22/hr and I choose not to have a car. I also have a remote job, so I don’t need to go somewhere every day anyway. Through my work, I can get a discount added-value bus pass - I pay $10 out of my paycheck, and $30 is added to my pass. It does limit where I can go. My city has a decent, not great, public transpo system. If I go get groceries, I have to just buy what I can carry. It saves me so much money though not having a car, it’s the best way for me.
I got a Lexus.
An old entry-level ES330 all at once with the insurance money after someone totaled my paid off car. Best car I’ve driven though. Leather seats and a smooth ride with Toyota parts/maintenance👌🏼
I am in my mid 30s, we have a nice income and our car is paid off for over 5 years. That money is well spent elsewhere. An expensive car won't make you rich, it's often just the opposite.
Exactly! An expensive car habit can keep you broke easily and congratulations to you on ni car loan! 🎊🎉🥳
My nephews are like this, 20 and 24 they have no money and work under the table because they don't want to pay taxes, this way they can get foodstamps and healthcare free. Then they got cars with payments over 600.00 a month, plus high insurance from past tickets, one got a bmw and the other a mustang...come on! What's wrong with a jetta or corolla? Thats what everyone in their 20s had when I was that age, or the cheap suburu that looked like it fell off a mountain. I never thought someone was "better" because of a car.
Oh my gosh not your nephew's getting got like that 😫 I hate to see it and I hate to hear about it but I know it happens far too often to the younger adults. And I understand them wanting to look a certain way to others but the debt that comes along with it is not worth it. I really hope that they are able to change their mindsets because staying that way for too long really can really can stop you from getting what you want in life. And I agree no one is better than anyone we are all human we all have flaws. And material items (even money) definitely doesn't make someone better or less. Character matters! 💕💕💕💕
@SocialSymone Thank you, I hope so. Sadly, social pressure to "fit in" seems much worse for the younger adults, you would think they would stop judging each other for their clothes and stuff, since they are all suffering. BUT they all have to have the same 250.00 pair of shoes? I don't think there's much thinking going on. I subscribed BTW, you make too much sense to ignore.
tbh they probably have better Healthcare coverage for ER or clinics than a lot of people who get it through their employers. sad reality.
Report them, stop letting these creeps drain our society.
Nothing wrong with a Corolla. A Jetta on the other hand… your son might not be driving that around most of the time…
My wife and I make enough money that we don’t worry about money. We make enough that a financial planner has been discussed.
I drive a 15 year old car, my wife drives a much newer, but paid off, 5 year old car (kid mobile). She shops at goodwill, we upgrade our phones when they die, we get our gas at Costco, I never got a PS5 (PS4 still works), etc.
Living below your means doesn’t require massive sacrifice, just thinking about what’s important. I spend less than an hour a day in my car, looking cool for that time isn’t important… my kids having a college fund is.
I felt that. You're speaking straight facts! Bought my used car for 5000, 5 years ago. I'm definitely getting my money worth and using my money to work for me while I work.
Keep pushing that knowledge.
What never made sense to me is when people pay off their car and then turnaround and trade it in a few years later when it’s still in GREAT condition. Like, you spent all that money to pay it off just to give it back to a dealership and revert back to having a car payment again? INSANE.
"Some of y'all be on the internet a little too much and don't do any research into the things that matter." Listennnn. This is too true. Like how are you chronically online, but signing up for loans and making huge purchases with little to no information about what you're buying? Make it make sense!
Bought my in full straight cash. Best decision I ever made in life. The freedom and the amount of money I'm saving is crazy. Plan on moving out of my folks crib in the next year to year & a half
If your car is the only thing keeping you broke, youre in a much better place than A LOT of people...
They dont repossess kids 🤣🤣🤣
I remember a situation from 2020 when my coworker bought a new Dodge Charger base model. Her car payment was an astounding $950😮, which was a huge amount considering that we were only making $15 per hour at a small community bank. I was surprised by the high payment and told her that I barely had enough money left in my paycheck to cover my grocery expenses. This was back in 2020 when inflation was not a major issue yet. After she got her car, I would sometimes buy her lunch or we would share our lunches.😂
The Dodge Chargers seem to always draw people in! 😫 Not $950!!! This is BEFORE all the other stuff like insurance. Maybe she had lots of money in her family or something but MORE THAN LIKELY not. That is rouuuugggghhhhh
😂 I don’t mean to laugh at her expense but that is wild
That’s a house payment
$950 on a base model charger that’s not even a v8? I bet the dealer who closed that deal had steak and lobster with their family that night 😂
She ruined her life.
I remember working at the bank for a few years. Almost every time I had someone come in for their last car payment, the next month or so they had another car loan for a new car.
I wasn’t complaining too much because I got paid a bonus for them opening a loan through us, but still was confused as to why they wouldn’t drive their perfectly good car for a few years longer and enjoy the extra cash
My husband and I have friends that have all these nice things and for the longest time we looked at them and thought, "when will it be our turn to have nice stuff." Then one day we talked to them about her staying home now that they are expecting their 4th child and they told us that they can't afford it because their bills are over $6000/month (probably $7000 now that he got a new truck). I've been able to stay home with my kids for the past 5 years because we don't have ths nice things and it's so worth it!
Went from 2 cars to 1 and best decision we ever did! Cargo bikes are amazing! Saving that money everytime i go to the grocery story or pick up the kids. A car no matter what owned cost $12k a year to use. Obviously it can go way above or a little below. Add on i dont need a need gym membership, and going to to grocery story now allows me to work out as well as doing an errand.
Love this video! Some people don’t understand why I don’t own a car and just Uber everywhere. Since I remote work, it’s genuinely cheaper to just get everywhere through Uber than purchasing a car + insurance + apartment parking + tolls + literally everything else I’m forgetting. I don’t want that commitment. You guys can keep your car payments 😂
You are doing what makes the most sense for you and your wallet and there is no shame in that! And I'm with you Forget them car payments! Won't catch us in the trap! 💕💕💕💕
My friend just bought a 2024 Chevy Malibu and his car note is over $750, with insurance that puts him at a stack for a fucking Chevy Malibu.
It’s not even about the car, that is by far the dumbest shit I’ve ever heard in my life.
But thanks for the reality check that everyone driving these cars is rich.
Not a Chevy Malibu bro. Just sold my 2013 POS Malibu and bought a Jeep for 4k. I will ride it until I can’t repair it anymore and then buy another used car
I nearly passed out when I heard the average car payment in the US is $650-$750 😮 keep in mind I grew up when expensive was $300bucks. It's insane rn. A car ain't worth the stress y'all
Paid off my brand new 2013 Malibu in 2019. $375 a month. I can’t imagine paying that much for a Malibu
When I got my car I thought, what kinda car can I buy that if I lost my job I would still be able to make that payment.
People mock Dave Ramsey and call him behind the times and out of touch. I’ve heard people complain that the starter emergency fund isn’t enough, yet he recommends $1,000 and you read a stat that said most people don’t even have $500. He says stay away from credit cards, and people brag about how diligent they are with them and love the rewards, but then you hear the average credit card debt.
He says no car payment, but a beater if needed, and don’t buy new unless you’re a millionaire. People laugh at it claiming they’d be spending way more to keep an older card on the road, yet what they pay in car payments and accessories for it is way more than what they’d be spending on maintenance for a slightly older vehicle.
My husband and I don’t follow Dave as much anymore because we are baby step 7 now. However, following his principles has saved us from a lot of bad decision making over the years.
Girl I subscribed some time ago but i've been avoiding watching you content because I know I make really bad finacial decisions. Watching your videos really made me have a reality check. Thanks girl
"Treating yourself into broke-dom" had me cackling. Seriously such an important message. No one is telling you not to get something nice within your means every now and then but you know what's going on in your life. Lying to yourself about your financial status is hurting you; other people are not going to care. I'm thankful to have always lived in areas with serviceable public transit and I saved so much money with no car. Enough to invest in me and get a much better job. Now I work from home and could I get a car within my means, yes. But why would I when I've never personally needed one?
I understand and support living in and being thankful for the current moment. Not "living like there's no tomorrow" cause if tomorrow comes then where does that leave you. Live life with a little responsibility and forethought.
I agree with you 1000% But when people want what they want sometimes all of the truth goes out the window. You are winning out there with no Vehicle cost! And making the best decisions for yourself! 💕💕💕💕
completely agree! People are so focused on flexing that they are willing to be stuck with a huge monthly payment for six years when they could buy a cheaper car/beater and spend that money on so many other things
If only more people say it like you 💕💕💕💕
It's insanely stupid
They flexing on the uneducated, those who truly know what it takes to maintain all the “flashy” things knows it’s everything but a flex.
I am broke and I am proud 😂❤❤❤ driving an old honda. Honestly I am still not financially there but I am in a better place than before. I used to spend so much on stuff!!!! That is why I love watching these videos. Now I have a backdoor Roth-IRA/contributing to 401k. I have a house and 2 condos overseas for future air bnb rentals. Watching these kinds of videos tames my spending habits. This is so therapeutic for me. I still have credit cards which I pay more than minimum. I am still paying student loans. I just want to echo it out there because I know I am not alone. ❤❤❤
7:51 😂😂😂
I loved that "Still Fly" reference
Another good vid, thanks for sharing! I had a friend who "owned" a bmw at $800 per month payments and owned no house or condo or anything and had bills out the wazoo. I tried explaining it to her and she got mad. (Notice I said "had" a friend). She told me she deserved that car. She bought the same car as another friend of hers but she did not share the interest rate with me. When she bought it, ahe tied a bow around it as a present to herself. 🤷🏾♀️ To this day, I still feel bad for her. How delusional!
Thank you 🥰 and $800 IS WILD!!! That’s not even with insurance or anything else!? The BOW is wild too. Do you think
the bow was to make it look like someone else bought it for her? 🤨 or for the picture? I am sorry that you were not able to get through to her. when you try to talk some people out of things like this they just get mad and sometimes even think you’re hating when you are really trying to help. smh
@@SocialSymone the bow was to make it a good Facebook Pic, in my opinion. Lol
So glad I avoided this trap. I got only $700 left to pay off my 2015 and Im riding it until the wheels fall off! (Hopefully another 10yrs) Not getting another car unless I have to and until that happens saving tons of money for investments and emergencies until then. This is what too many people need to watch! You nailed it
Monthly pymts over $500 and APRs over 5% make me panicky
I turned 30 and broke. I'm gonna be in my mid 30s and broke. I'm not gonna pretend I'm not broke.
I think the thing is that you can't get something nice within your price point. Sometimes the "nicest thing" is the most expensive coffee and cheese at the grocery store.
EXACTLY! Nothing wrong with being broke and acting Broke. I feel many are ashamed but you can change alot in a year or overtime you can gain more resources. Shopping within your price-range is wise. I wish some people didn't just straight up ignore what they can really afford and put themselves into big debt while doing it. I wish you all the success! 💜
Nothing wrong with that. With just a few hundred a month, you can end up a millionaire by retirement. Age 30 is young. You have over 3 decades of compound interest before retirement age.
@@stocksxbondage
I get what this was supposed to do and I appreciate it, but I'm literally cheering my newly forming crows feet lol. I'm gonna have fun regardless lol.
I have a client that has 3 huge trucks, all financed. All three of them have notes ranging between $1,000 to $1,600 per month. Nuts!! That’s a mortgage payment!
Bro that Big Tymers reference just earned you a sub because that killed me😂. I also watched buy now pay later video, sister you spittin facts I’m definitely gonna watch some more videos after I finish these dishes 😭
Keep in mind that owning a car is a absolute necessity in the United States. Even for those 16 or 18yr olds. Maybe their parents are unavailable. Got to get to work, school, the grocery store. In many parts of the US, if you don’t have a car you’ll “die” have to bum rides off people or move to a more expensive area that you probably can’t afford anyway.
I’m not referring to the BMW and Cadillacs but cars in general.
Subbed. You talking real life, I love it
And I’m currently paying a $640 car note on a 2022 Toyota Corolla. The car is EXCELLENT but sheesh, if I would’ve been more responsible in my 20s, my interest wouldn’t be 14% right now.
We need to get it through our generations head that it’s ok to live IN YOUR MEANS not above it!
I’m also a new subscriber and I LOVE her!! I listen to her to keep me on track and fill in the space that all the super consumerism nonsense could be filling up in my life. Much better this way
Bruh , my 2022 camry payment is $400 / month for 60 months ...
14% 😭
I drive a 13 year old car. Toyota. Paid for. I will never buy a new car. Absolutely wasting money. Buy a year or two old car that is a certified used car with a warranty and save tons
I live in a 1966 fixer upper. 2900 sq feet. Paid for. Eliminate your biggest expenses by scaling back your expectations and requirements and stack your cash.
I worked in my credit score and saved a down payment. Used a homeowner buyer program to get started. Then sold my house in a high cost of living area and bought an old
Fixer upper in a low cost of living. It’s not HGTV but my house is paid for now. I work remote.
I'm in the same boat. It feels good. 😊
Currently shopping for a new car, thank you for roasting me so I can save my money stick with a budget 😂💀
Dream car 😂 My husband and I bought our first brand new car when he was 51 years old, I was 48. He drove used cars that he paid cash for, exclusively until last year. When asked what I was looking for in a car by the salesman, I replied, “I don’t want to appear as if I’m overstepping, but I would really love it if all of the doors could open and shut properly.” That’s how low the bar was. We bought a Toyota. Why the switch at 51 years old? Because he works swing shift and was white knuckling it every night hoping he would make it home. He’s got high blood pressure at this age and doesn’t need that stress. Now. At 51 years old.
A dream car in our 20s? There wasn’t even room to think about such things.
Warranty and road side assistance, glad to have them but we waited a long time to do it. You know, now that our kids are grown 😊
Spot on again. I don't have a car because I don't need it, I live in a walkable city with public transit. I understand if people truly need it but I have some of them around me constantly selling and buying a newer model while trying to make ends meet. Maybe there is a math in there I don't get but the amount of mental real estate it requires seems exhausting.
Thank you! And I agree, I can’t figure it out either! Cars make some people forget they have to go work for it or something. And you are really winning living in a walkable city! 🥳 That’s how you really cut back and rack up!
Back in college, I worked a job and saved up to buy my first car and that was the best decision I made. My first car I brought in 2017 was a 2014 Kia Rio ( I graduated college in 2017 as well ) but unfortunately I let my brother borrow my car and he totaled it. I saved up money to buy my second car again and in 2019 I got a 2015 Kia Forte. It’s reliable and in great condition. I also don’t have a car payment. I only pay car insurance. My brother, on the other hand, decided to buy an old 2009 BMW. His car is constantly breaking down and they ripped him off with his car payments. He is paying $500 every month for his car payments and that’s not even including car insurance. I told him he should save up to buy a Kia like I did and get rid of his old BMW but he won’t listen. Now he is stuck with a car that constantly breaks down and a high car payment.
Brand name is what's keeping that BMW.
😂 Reminds me of my Lil cousin. Never had a stable job but "bought" a Q5. Beautiful heavy weight in the driveway because he can't afford to fix it. Smh. He had fun flexing it while it lasted.
if it's not constantly breaking down is it even a BMW?
I drive a Hyundai Palisade and it’s a wonderful SUV for my family. It’s beautiful and bought it for $38k. It’s really affordable and have had ZERO issues with it even at 50k miles. It’ll be paid off in 3 years and I can’t wait
I think saying that people who are poor "don't deserve it" is harsh and not the right wording. What they really don't deserve is the pressure of keeping up with a lie that they have it like that. Rich kids from rich families don't "deserve" these luxuries more than the broke ones but they don't end up suffering for having it like the poor ones. Regardless I agree with everything else you said.
Me with my paid off Toyota 😮💨
Missed living somewhere with reliable public transit, was able to live in Seattle on my own bc of how much I saved. Now it’s more expensive to live in yeehaw Midwest bc a car is a must out here. Even with perf credit the lowest interest for me is 7.5% 😭
If you can avoid the 7.5 al together then it's not too bad paying cash at least. But not having the public transportation now I'm sure makes that way harder To save. It is really helpful if people are able to take advantage of It as a resource😔 I hope you are able to find something that works well for you where you currently live.
Also in the Midwest, Kansas City. I wish we had better public transit.
Tysm for this real talk 👏 Needed to hear this. Now I’m going to stick with my fully paid Toyota Camry ❤️
“When I was broke, I ACTED BROKE!” 😂😂
As a Flint native, thanks for including Eric Mays 🙏🏽 😂😂
I drove a 1996 Honda Accord for 5 years and got rid of it last year. It was costing me $1k a month on maintenance and it would never be truly fixed because I didn’t have enough money to fix everything. The moment I finally got rid it, all the stressed I had immediately went away. And I’ve been able to finally save money. I’m now much happier and wealthier taking public transport and the occasional Lyft/Uber rides. I don’t plan on buying a car for at least a year. Since I’m prioritizing building up my emergency fund and fixing my spending habits. Once I feel ready for a car I will only buy from an owner and have the money already saved up for it. Don’t fall for these tricks from the dealerships ripping you off and trying to impress broke people.
Oh my! If you don't mind me asking why was the maintenance on it $1000 a month? None the less it is such a blessing that you do not have to deal with that anymore! 🙌 I am happy for you because I can only imagine the stress. Though you may have dealt with that it seems that you have the mindset to be very successful in the future because you are willing to delay gratification for what you want by saving and fixing your spending habits. So this was a minor setback for a major comeback! 💕💕💕💕 And yes you are so right it's not worth it to get ripped off to impress broke people!
@@SocialSymone Things adding up since I didn’t have enough money at the time to properly fix it at the moment. Instead I was only able to do temporarily fixes. My driver’s window got stuck moving back up. We temporarily pulled the window up since it got stuck but that later down the road caused my driver’s door to not open when getting out of the car. Car battery failing on me a few times. Back tires still needed to be replaced, behind on oil changes, had to replace the front brakes again and it still needed the back brakes and new axles. On top still paying for gas and insurance. After fixing the brakes, my car started not wanting to turn on again. So I decided to get rid of it. It was a lot for me to manage since I live on my own and rely on myself finically. But boy! The relief and joy I felt after getting rid of that headache! It was my first car and I didn’t properly ensure I had even savings for after I bought the car. I rushed into it so that’s way now I’m taking my time. Until I met my savings goal where I’m comfortable is when I’ll buy a car again.
A $1000 a month just on maintenance…🤔.
@@carmenflores8528Sounds like whoever sold you the vehicle was dishonest about its state. 5 years ago, I purchased a 2012 Mazda 3 for 2700$. I only had to pay about 1500$ in maintenance. It's been running great since.
@@theprofessor2817 We got the car from a family friend for super cheap. I was 19 at the time and didn’t bother asking about the car’s conditions I just trusted my dad’s word for it. He said all it needed was a new AC… Now I know better to be more informed and bring a mechanic with me to check out the car before purchasing.
This is a hard truth: you don’t deserve everything you want. There are things that you should not get no matter how hard you work for them. And having things isn’t a reflection of who you are.
"Some people are all fur coat and no knickers" my great great grandma used to say. 😂
The rich ruleth over the poor, and the borrower is servant to the lender.
Proverb 22 7
This conversation does need to be had ✨
Here in Canada, volunteers at multiple Charity Food Banks report people driving BMW's and Mercedes-Benz to receive "free food".
Here in Atlanta also. Line of mercedes, bentleys,lexus,tesla and Cadillac. No bike riders or walk ins. Maybe il video next Mondays food bank at church.
Bought a new mustang at 18. Not even a base model - this one was customized with the brown leather, manual, tech / audio package, etc and brought in from out of state. Dumbest, dumbest decision of my life. Got rid of it at 22 and drove a $1500 beater car for years. Finally started crumbling about a year ago, disclosed all it's problems and sold it for what I paid for it, and now I have a nice car (well, way nicer than the last one lmao). I spent $6k. Little 4 cylinder gets 40mpg, $60/mo insurance, and makes me drive nice and slow. No rush to an early grave like the mustang... AND I can save for a house.
I really wish more people would watch this video!!! My family likes to buy brand new trucks every 2 to 3 years. It's INSANE. My sister, jobless for 2 years but recently got a job (I'm talking 2 months ago), has been driving a new Audi for those years, making those ridiculous payments. For what?! Little sister decided to follow in the family's footsteps and bought a used car for MORE THAN STICKER. Literally paid $31k for a USED car which had a sticker price of $30k brand new!!! They left the original window sticker in the glove box!!! Now she can't afford college, but at least she thinks she's flexing with a 15% interest rate and $300/mo insurance
Big Tymers had us getting our roll on 😂😂😂😂 broke and all.
This is one TOOK ME OUT 😂 I blame them now cause they were the original “number one stunnas” 💀
😂😂😂😂
@@SocialSymone 😂😂😂😂 fr! We had the 4x tshirts and all knowing after school it's back to the hood 😆.
Treat yourself to nice tub of ice cream, treat yourself to that new movie that just came out, treat yourself to a nice dinner. Above all, treat yourself responsibly at all times.
Paying rent or buying a house is already expensive. You'll never be able to buy a house if you choose to drive around in a car that costs the same or even more a house downpayment.
A car can easily be repo'd but it often takes months, sometimes years before a house can be foreclosed. A flashy car won't keep your belly filled, clothe or shelter you.
Showing off or trying to keep up with the Jones who can't even keep up with their own bills is an eternal black hole of financial destruction.
Having a working car is a need, having a flashy car is a want. People need to know the difference and practice financial modesty.
As a young mechanic I'm telling you right now . The cars I have seen the least come into the shop were Honda's, Toyota, Subaru's, Ram(Trucks believe it or not), Acura, and Lexus. Buy those and you'll save yourself a lot of money. And keep up with the maintenance, no going 1000 over your oil change limit unless you got money to replace an engine.
I know someone who pays 500 for a car each month. He is on his mid 30s living with his parents without paying rent or saving money for a house. It blows my mind. That money could be used to rent a room or save for a down payment. I pay 615 for a studio by myself.
Once, he dismissed a potential partner for having a better car than him. Another time, he said he was a better choice compare to a 19 year old that doesn't have a car. In the back of my mind, a 19 year without a car is not a big deal. A bigger deal is a man on his 30s who is still leaves with his parents without paying rent. 🤷🏽
Bicycle gang checking in..done getting scammed by insurance, gas and registration(California)
I haven’t watched the video but shopping cheap is such a blessing I believe. Specifically grocery shopping.
I agree 💜
you balance education and entertainment/humor so well❤
I really appreciate that! It’s hard to keep people informed because most people get bored with statistics, articles and etc. Which I understand, but I’ve been trying keep it fun too..So this is a HUGE compliment to me that you received a good mix of both! 💕💕💕💕
Lol. Great video.
I really miss having bus service in my neighborhood. I took it all the time. The city bus is pretty gross so I do prefer the ride apps on most occasions but there were times when the bus was a good option.
I will NEVER have a car note. These vehicles are soooo expensive. It's ridiculous.
I daily drove a Camaro SS for a year. Decided the maintenance would become costly if I kept it, so I decided to make a change.
Paid cash for a Toyota Corolla and I feel so relieved. I’m honesty enjoying it more and have more peace than before.