What if you were me and you made the same mistake I made back in 12/30/00?
Tell me how'd YOU'D feel, ok?
1) You're going on 22 the next month of January of 2001.
2) You have between $10,000 to $11,000 saved up that you worked extremely hard for through all that the PAIN, MISERY, and SACRIFICE to get it.
3) You make the STUPID mistake of spending it all on a car and now you're flat broke just like that.
4) You're still in college.
5) You don't have a real job yet.
6) You don't have a credit history yet.
7) You realize that if you spent $2,500 on a older car, you'd still have $7,500 to $8,500 for security and to have a little fun with.
8) Despite spending it on a car with under 25K, all of that money is gone so you can't have any FUN with it. No boombox, no girls, nothing you'd find enjoyable to spend it on...
9) Just like that, any of that money you were gonna save up for your future is now gone...
HOW WOULD YOU FEEL?
Answers:
I'd feel like I made a choice in Dec 2000 that I regret now.
But I'd also feel this - there were some positives in your choice:
You will enjoy the use (and lower maintenance cost) of the new car instead of a used car... and if you still have the car in 2007 it's newer than the used one would have been.
You will have no interest payments or car payments over teh enxt 5 yrs (if you'd financed it).
You can establish credit tomorrow with a credit card as easily as with a car loan.
You can get a job.
You can do all the above, or you can take the $50 you have left and go get drunk (not recommended).
We all make decisions we regret later (I will not call them mistakes). Winners like you and me move ahead and keep trying.
good luck, brother
I did it once and I can do it again if I start now. I made a mistake but I learned from it. I am alive and am able to move forward. My past is not going to stand in my way but can be a tool to a better me. My new goal is $100,000 in savings and investments over the next 5 years.
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