You drive a shitbox anon. Why aren't you building wealth?https://youtu.be/k3291ar1tpY
fuck you and fuck off
>>23221974>Pays 500$ monthly for carMakes 3k biweekly
>>23221974>Hi Dave how are you doing?>Better than I deserve. What's on your mind?>so I just inherited 10 grand from my rich pedophile uncle who passed recently due to covid complications. I have about 7 grand in savings. My chevy cobalt just died after the timing belt snapped when I was doing 130 on the highway. I need a new car. Would it be a better idea to lease a Range Rover? Or use it as a down payment on a lightly used S63 AMG? The dealer said they could finance me at 20% apr. Is that good?
>>23221974Based Chad Ramsay causing butthurt in the credit guru community.
>>23222611Is biweekly twice a week or every two weeks?
>>23223627every two weeks, little buddy.
>>23223627>>23223646The dictionary says it can be either
>>23223627>>23223650different anon, just checked. Semiweekly only means twice a week, so it'd seem to make the most sense for biweekly to mean every two weeks. god I hate when dictionaries don't put their foot down
>>23222603Did you get a good deal on it?
>>23221974dave ramsay gives advise for financial illiterates.
>>23223026>I recommend you kill yourself like your faggot uncle
>>23221974I drive a shitbox and funnily enough have £20,000 savings. Although I know nothing about investments, so I'll never be a millionaire :/
>>23221974Driving a shitbox won't make you rich. Not having crippling debt will make you rich. What people don't understand is that Dave talks to complete idiots that get a brand new shitbox at 40% APR along with a house at 10% and student loans.
>>23224822This.Ramsey is for people who need their heads knocked into place about finances.
>>23222611Dave Ramsey would not be upset with you. When he's not ranting about politics, he's ranting about poor people buying thing they can't afford and acquiring debt with high interest rates.
>>23221974why do you guys keep posting this guy
>>23225662because some retards on /o/ vapidly defend taking loans because they're so narrow minded to think that the APR is the only issue with loans in principle.
>>23225668My loan is less than the rate of inflation but retards here will still try to convince me that I'm a poorfag lmao
>>23225691sounds like you are very comfortable with giving alot of money to someone with a jewish sirname
>>23225701It doesn't matter dude, the inflation rate has nothing to do with the APR and you just proved my point is that you think the APR is the only thing wrong. If you wanted a 30k car and decided to put 10k down and finance the latter 20k and took what 20k you had in cash and invested it at 10% in good mutual funds you're only gonna be getting 2,000$ a year from that return. Meanwhile your loan for 20k, divided over 60 months at 3% is gonna be 359$ per month and pay a total of 1560$ in interest over that 60 months. You're also gonna eat the depreciation as a loss. Average loss on a new car is between 20-30% and as high as 40-60% by year 5.https://www.nerdwallet.com/blog/insurance/car-insurance-basics/car-depreciation/So your 30k car is now worth about 15k at the end of your loan, you lost 15k to that and lost another 1500 in interest. Your 20k in mutual funds assuming you actually got 10% per year with no fluctuations got you only 12,210$ in interest. You're down ~3000 dollars by year 5.Meanwhile if you didn't mix these two absolutely unrelated ideas you could have had a similar used car for significantly cheaper without paying interest and enveloped any other money you had in those mutual funds for greater gains overall. Then again investing, inflation rate and other shit has NOTHING to do with the fact you took a loan for a car you don't own.
>>23225744tldr, you might not be "poor" in the colloquial sense but you are a gigantic retard.
>>23225744>not putting it towards a down payment for a house insteadWhat a lot of retards like you don't understand is that cars are a tool for most people that they use to make money, and new cars are just an easy and headache free way to move aroundDepreciation is fucking irrelevant over 10 years
I do. I bought a fiesta for $3k cash. I'm still poor, though.
>>23225744>just buy used broNo fuck off, don't wanna deal with other's piss covered seats and any maintenance problems that might come upAnd don't say "just buy a CPO" because they're hardly cheaper and interest rates are worse. You're not buying a CPO cash either
>>23225802>depreciation is irrelevantIts always relevant. You will always sell your car whether its tomorrow or 10 years from now. the point is to not be losing tens of thousands of dollars to depreciation. You're losing ludicrous money that could be going into a house like you're suggesting but losing that money in depreciation keeps you from doing that.Don't be fucking stupid. Do the math.
>>23225815Go be fucking stupid then. Take a loan for a car and sell it years later for 20% of what it was worth. Cry about how your "investments" didn't keep up anywhere near your depreciation.
>>23225818That a perfectly acceptable cost of driving a new car for 10 years. A lot better than driving a 15 year old car for a decade and dumping it when it's a 25 year old shitbox
>>23225824Except they did, a single house went from $600k to $900k in 3 years. You won't believe me but I don't care enough about proving myself to some rando on the internet Go LARP as a financial advisor on /biz/
>>23221974Because Im a rent jew with a few properties. So I don't mind splurging on a new car.
>>23225818$20k over 15 years is hardly a ludicrous amount of money
>>23225827>losing 17k on a 30k car is perfectly acceptable.To you, but good luck with your house down payment, you're just spinning your wheels because of it.>losing 17k on a new car is better than buying a 3k 15 year old car and selling it 10 years later for 1.5k plus what ever repairs you put into itI bought a 10 year old civic in 2010 for 4k and I'm still driving it today. I might have put like 2500 into repairs max. Its a no brainer.>>23225835A single house did but not YOUR house. You're taking the risk of your house not being in one of those gentrifying neighborhoods. That all assumes your appreciation of your house beats the piss out of everything else which is a long shot. Sure houses normally appreciate faster than inflation but its not a guarantee in any neighborhood. Everyone thinks all houses appreciate until you have once bountiful neighborhoods turn to shit because of economic depression or jobs leaving an area.
>>23225854>but not YOUR houseLiterally one of my houses>>>/biz/
>>23225850thats 20k you don't have anymore dude thats a lot of money. For instance the difference on 50k and 30k is literally 100k and 60k in 10 years time at 6% from a low risk mutual fund. Or better yet thats 100k in 6 years at 10% vs only 60k in 6 years at the same 10%
>>23225859That's like $1.3k a year, maybe it's a lot for a poor person but then they shouldn't be buying new cars in the first place
>>23223026>Just light your money on fire, it'll be more fun than driving either car anyway.
>>23225862Did you even read? If you're missing out on 20k woefully its literally equivalent to losing 40k on an investment. Don't be stupid dude do the fucking math.
>>23225866You acting as if someone ready to spend that kind of money on a new car isn't ready to lose that potential income just so they can drive something new and not a total fucking shitbox. People like new things and life is too short to be pinching literally every single penny>dood why would you buy a new TV when you can get one off the curb for free?
>>23225815build your own car you niggerfaggot.
>>23225878Dude you missed the example entirely. Treating large sums of money as that as trivial because you just divide it by 10 years and say "see its not that much" is the EXACT same mentality that a car dealership uses to trick you into taking a loan because "look at the payment its not that much"
>>23225881It really isn't all that much, especially spread out over a decade+ through financing. Meanwhile that actual lump sum goes to whatever investment or retirement account you're into You can still make your money work for you while not living like an abject poorfag
>>23225889spread a 20k car over 10 years at 3%thats 192$ a month, you're paying 3100 in interest and the car is worth only 8k. You lose 15,100 dollars.
>>23225889see>>23225744Your money isn't working for you when you're constantly losing any gains you make.
>>23225891Perfectly reasonable to me to drive a new car
>>23225896If you're gains are so small that you have to live in poverty just to make anything, reevaluate your life
>>23225897>I'm not poor in the colloquial sense, but I am retarded.
>>23225901>nooo smart people drive shitboxes!
>>2322589910% on mutual funds is not small.
>>23225905that's fucking tiny compared to how much money you can make elsewhere. New cars also help in other areas, no one wants to do business with a person driving a 20 year old Camry
>>23225909Make elsewhere? If you're getting significantly greater returns than that you're delving into seriously risky ventures. Your bullshit options gambling belongs on /r/wallstreetbets.
>>23225909>New cars also help in other areas, no one wants to do business with a person driving a 20 year old CamryYea fucking right dude, get your head out of your ass. No one gives a fuck what car you drive.
>>23225912Okay kid, keep telling yourself that while you toot your own horn while trying to justify your shitboxYou're the smart one and everyone who drives a nicer car than you is an idiot
>>23225918>No one gives a fuck what car you driveIf only you knew...
>>23225909Girls won't date you because you drive a new car.
>>23225922>>23225920Girls aren't gonna have sex with you because you drive a new car. Get lost Elliot Roger.
>>23225930>>23225924>>23225918>people judge you based on stuff you wear and what you drive>"hurr durr sex"I want underages to go
>>23225941No they don't. If you work for a boss that judges you on what you drive he's the same kind of asshole to really at advantage of you being at-will. You're really that shallow you think you need a brand new car to keep your social status up.
>>23225947People can and will judge based on what you drive, maybe it doesn't matter much when you're a wagie in a cagie but go out on your own and try to make money with your own business and people you deal with will ask themselves "why is he still in such a run down car?"No one's saying you need to go out and hop in a new X5 just to do business, but even being ins something like a decently equipped Kia Soul is going to come off much better than being in a 15 year old Corolla. May as well show up to a meeting with clients wearing clothes from Goodwill
>>23225471Wait, Dave Ramsey drives a Ford F-150? LOL
>>23225744Based and checked
>>23225889What are you doing dumping cash into investments into a market that is at an ATH with upcoming socialist economic policies that will certainly put the markwt in a recession all thr while being in debt. Are you retarded?
>>23225889>>23226030Your financial recklessness has given me a stroke.
>>23226030Bro just hide it under a mattress
>>23224723>Americans >jewed into being financially illiterate Pick two. They think debt is normal.
>>23226039A cash savings to cover a fua replacement or living expenses for a number of months of unemployment. It is being an adult 101 yet most Americans fail at this and have to get bailed out or finance appliances.
>>23225972Nah you just have shitty "friends". Real people don't fucking judge you for driving a 10 year old economy car.
>>23226071This, people who arent losers dont jab at you for what you drive unless its genuinely shitty and you bought a bad car, nobody gives a fuck what you drive especially since normies just see them as A to B vehicles
>>23226071>doing business with friendsT. Retard
Sell your fucking car.Now.
>>23221974>You drive a shitbox anon. Why aren't you building wealth?I drive a shitty car and it is mentally demoralizing every time I get behind the wheel. I think there is a link with driving a decently cool car and self-esteem.
>>23226219>Sell your fucking carNo ;^)
>>23222611I don't even pay $500 a month for my car. I pay like under $700 a year.
>>23225941>>23225947>>23225972There was the old adage about doctors who did house calls in the 50s and 60s; if your doctor drove a lincoln he was either bad or inexperienced, if he drove a cadillac he overcharged, and if he drove a buick he charged a decent amount and made enough money for a nice car. It was very boomer and kinda made sense for the pre-70s world of cars and money. But nowadays jackasses working at bestbuy can drive lexus, mercedes, or even cadillacs. Contractors like to show up to job sites and sales leads in the latest superduty truck ($75k+) sometimes with a lift kit for 2 reasons: they think its all a writeoff and it impresses people into thinking they're a big construction firm. When in reality they're 1 bid away from bankruptcy. Talk to any homeowner or oldtimer who has been around for a bit and they'll tell you the best contractors are the ones who drive the 10+ year old truck completely dented up with at lease 100k miles and covered in construction debris. Those are the guys who figured out good work gets bills paid, not a brand new truck. If your boss, clients, friends, or some jerkoff on the street thinks less of you because your car is old or well-worn, just try and think about how much debt they have. Their net worth is probably pretty low because of the loans and interest they're paying. Dave says live like nobody else so later you can live like nobody else. Drive that $2k shitbox for 10 years today so when you're 40 you can drop cash on that dream car while your buddies are financing for 90 months on their underwater loan.
>>23226708Not lincoln, i meant chevy<buick<cadillac
>>23225815Lmao you are dumb
>>23226708If those contractors are so good, why are they driving shitboxes?
>>23226835Because they realized they get the same work and same income driving a $75k truck or a 1994 toyota. Their priorities are paying off their house, saving for the future, paying for kids college, and other more important shit than paying off their current truck payment. Same thing dealerships are going through now. Multimillion dollar remodels don't sell cars, salespeople and customer service sells cars. A contractor who gets multiple word of mouth referrals is always going to be wealthier than a contractor with a nice truck and good salespitch.
>>23226835Because trucks have not really advanced in the past 30 years. A truck from the 2000's will do the same job as a truck today.
>>23226404>noYou can't. You don't have the title.
>>23226835Because work trucks are supposed to be beaters, anyone who shows up to a work site in an expensive, shiny truck is a fucking loafer who is going to do shitty work. A dude with a shitty work truck probably has a nice house and a nice car that he doesn't take to work sites.t. not a contractor but a person who hires them
>>23226835Because life is not how expensive your car was. Being debt free and having cash on hand to do as you please is raising your quality of life. If that means driving a shitbox and having an enthusiast shitbox to wrench and beat on then so be it. Being broke because your are in debt for some NPC appliance you have to baby is a shitty existence. Yeah you can leave your apartment or mom's basement and roll up to some shitbox and try to flex on them and call them a poorfag but you're the broke retard in debt.
Poor quality bait but I'll biteRamsay is Facebook-tier memeshit at best, but every subhuman I've known who engages with this shit is a woman (red flag number 1) and makes $40,000 or less per year (red flag number 2) and has a kid sired by a heroin addict (red flags number 3-10). At any rate, most housewives /o/ sees buying new cars every year are probably married to a defense contractor making several hundred thousand dollars per year. Its more common than you think
>>23226934>Being debt free and having cash on hand to do as you please is raising your quality of life.Dave kinda mentioned this in one of his clips; he recalled to the penny how much a repair on his car was because he was fucking broke and barely had enough to fix the car just to get to work. When he started making money he recalled a repair on one of his real estate properties of being in the neighborhood of $3k but didn't remember because it didn't hurt as much. Now as a multimillionaire anytime an expense comes up he pays it as long as it isn't overpriced and promptly forgets about it. Myself with enough cash to be comfortable in an emergency I know my AC cost $4k to repair. I couldn't tell you the exact cost because I could pay it without taking out a loan or refinancing my equity or whatever. My motorcycle needed a new tire and I know it cost $260ish bucks, about $20 more than it was last year. I know it costs money but it isn't a complete life ruiner anytime several hundred dollars has to be spent. Take it back to my other example. These contractors with 5 year loans on $80k trucks complete with lift kits. Imagine they have to come up with $300 for a new brodozer tire. They put it on the credit card and pay it whenever they can. If they can't get steady work (income) they usually let lines of credit, bills, and other payments owed on the backburner and pay whenever other work can come in. The most common is roofers in the area will get a new contract to pay the old contract's line of credit at the supplier. Its this little shell game they play to pay bills always chasing the next job to pay old debts. If they had a 20 year old truck with no debt, they wouldn't have to be chasing money. They'd just let it flow in when it came in.
>>23225988I know he's got a Raptor he talks about occasionally.
>>23226071>10 years oldI make 75k salary with 6th and 7th day pay plus 2 10% bonuses and drive a 17 year old base model economy car and a 16 year old truck. I still have to deplete my savings to replace my furnace with 90% unit and I am spending my excess income on my house remodel. I'm going to have to hold off on my main floor bathroom remodel just to stack cash to replace the F150 and make it my NPC daily with the pooparu as the backup. I still feel like I am living on the edge. How can the brainlets that take on car debt and also invest their savings even sleep at night. You're leveraging debt like a buizness but with your personal financial livelihoods
>>23226961>$75k/year>homeownerI couldn't even fathom doing so on double that, the poorest homeowner I personally know makes about $300k/year
>>23226984Do you live in Los Angeles, Vancouver, or New York?
>>23226984I bought it (went in debt for it) when I only made 58k a year.
The only car emthusiast community that tells you not to enjoy cars
>>23227027>you need to borrow money and have full coverage to enjoy carsMutually exclusive properties. You buy the thing with cash and be as stupid as you please with it because it is yours. That's how your enjoy a car at the enthusiast level you dadgum NPC.
>>23227027go talk to your grandfather, or anyone 80+. Ask them, "do you ever regret not buying that $5,000 muscle car?". They'll talk about how much they wanted to have one to ride around in, but no so much as to say they should have just gone into debt and get that car to enjoy for 5 years. Yes you should enjoy life, yes you should spend your hard earned money. No you shouldn't go into debt and pay tens of thousands in interest and depreciation to have a good time for a few hours a year.
>>23227050Who says I'll keep it only for 5 years or drive it only a few times a year?
>>23227061>I'll keep this car forever and enjoy it every week!Yeah, your civic Type R will totally be running in 20 years and actually be a classic that is fun to drive an garner attention. Shut up idiot.
>>23227075>thinks cars should be bought to garner attention>calls others idiots
>>23226898>>23226906>>23226924>>23226934And yet all the contractors I see in expensive areas all drive new truck, because they make good money and they double as family vehicles
>>23226920>You don't have the titleWhat did he mean by this?>>23226906>Because trucks have not really advanced in the past 30 yearsTrucks are vastly different than what they were 30 years ago. A modern truck will outperform any old truck in just about every single metric while being more efficient, comfortable, and easier to drive
>eceleb youtuber bullshit>don't spend money, the big number is what matters at the end
400 a month is the line i wont cross
>>23227106>because they make good moneynot that you know of. Watch their jobs dry up because of any number of reasons. Are they still affording these new trucks after 3 months?
>>23227194You talk like they're expensive or something, shit's a fucking tool that you can also take your family around in on the weekends
>>23227197>shit's a fucking tool that you can also take your family around in on the weekendsSame could be said about trucks 1/4 of the price>You talk like they're expensive or something$70k+ trucks are expensive. Do you have $70k to drop on a "tool" to also drive your family around on the weekend?
>>23227204You can also buy the same trucks without prostate massagers for like $30k and they're just as capable, stop being retarded
>>23223026Timing Belt, Cobalt? I don't think so Tim.
>>23227204>expensive trucks are expensive Wow anon, tell me more
>>23227075>Yeah, your civic Type R will totally be running in 20 yearNo shit it’s a fucking Civic retard. It doesn’t have the autistic German engineering that self destruct after 10 yrs
project: buy car for momexpenses>car1150(-500 grandma's share)>water pump and timing belt kit80>new spark plugs and ignition coils80>fuel20>oil+filter30>total price so far860
>>23226898>paying for kids collegeliterally worse than leasing a car or renting a house. might as well flushing money down the drain. if college isn't 100% free for you (from scholarship or just state-funded), then it is worthless.
>>23224803>get property loan>call it your house>rent it out under the table cash in hand>?????
>>23225701>brah im literally making money off the lenderLel
>>23226906A modern Ford Powerstroke diesel has twice a much torque as the same engine from 20 years ago.
>>23227106Because debt is normal and they have never owned anything their entire adult lives and put maybe the minimum into retirement while viewing wall street as the enemy.
>Hi Dave I have a $600 car payment for my BMW and make $2000 an month. >I want to sell the car but am upsidown 15,000 on car because I rolled my negative equity from my last BMW >I also have 10k in credit car debt
Not even going to watch the video or read the thread. ZERO people have become wealthy by saving money/penny pinching. Period. It's a waste of time. The hourly rate you get as a return from figuring out how to be frugal is insignificant. If you want wealth, this should be super fucking obvious but somehow isn't, figure out how to earn more money.
>>23225972>but even being ins something like a decently equipped Kia Soul is going to come off much better than being in a 15 year old Corolla. May as well show up to a meeting with clients wearing clothes from GoodwillUhh yeah you're fucking wrong. I work in document solutions and I regularly go to client calls in a 20 year old saturn with scrapes and marks all on the front of the car. My boomer boss drives a GMC sierra and a camaro and while he has made jokes about putting me in a company car I can absolutely refuse and be just kosher with my plastic shitbox. Your presentation of yourself and your work is what matters, not the condition of your 4 wheels and an engine.
>>23229478bro no one gives a shit about a glorified photocopier center
>>23221974Can't stop spending money on alcohol to drown my sorrows
>>23229379>Not even going to watch the video or read the thread. ZERO people have become wealthy by saving money/penny pinching. Period. It's a waste of time. The hourly rate you get as a return from figuring out how to be frugal is insignificant. If you want wealth, this should be super fucking obvious but somehow isn't, figure out how to earn more money.bait.jpg
>>23225744>getting 10% from mutual funds consistently for decadeslmaopost portfolio, or are you just another inexperienced fag zoomer who read money mustache and watched ramsey and thinks hes hot shit?
>>23221974You can get a brand new corolla/sentra/civic or some shit for under $300 easy
>>23229715And that makes it ok?
>>23225701You're still paying tons of money for an overpriced depreciating asset.
>>23229390>>23229655>anon, where did you get your millions? >well, I make $38k a year, but I bought a Tercel instead of financing an F150!This is why you're poor and dumb, you think some self help shill is going to unlock some secret for you while in fact you just do not have the capacity to earn much money and it doesn't really matter what you spend that small amount of expendable cash on anyway.
>>23229501It's funny, the car note that you're paying huge interest on was probably printed on a machine that I service. Some of our largest clients are dealerships, they love the little Kyocera and Xerox printers. Love ya, champ ;)
>>23222611>pre tax Cope.
>>23230034Are you alleging someone making $38k a year and finances an F150 is smarter than someone who doesn't finance a vehicle beyond their income?
>>23230199I'm alleging it doesn't matter anyway. People earn $38k a year because they haven't found a way to be a more productive member of a society, either because they aren't smart, able, or motivated. If their goal is to "build wealth," spending time finding how to chop up the $38k into smaller pieces to save more is a waste of time and effort. Thinking these trivial decisions matter is laughable, crab in a bucket mentality. >sure I have a shit job and make almost no money, but at least I'm not living beyond my means like that other guy!
>>23221974I make $5k/month after taxes and I finance a car at $650/month
>>23230214This is the right logic, but I think the logic here regarding cars is that the financial cost of the car shouldn't be a burden to trying to invest in yourself. Like if the worry of being able to make your car payment every month discourages you from leaving a shitty job then you probably couldn't afford that car in the first place.
Only retarded people and millionaires buy new cars. Prove me wrong.https://youtu.be/sQo4nzqYR50
>>23229929>overpricedRelative to what?>depreciatingYes I understand that, but cars are a tool and I can easily factor that into my transportation costs
>>23231396>Relative to what?To an equivalent 15 years old shitbox>>depreciating>Yes I understand that, but cars are a tool and I can easily factor that into my transportation costsBut the equivalent shitbox is still cheaper.
>>23231426>just drive a shitbox No fuck off, not everyone is poor like you
>>23231461What car do you drive and how much you make?
>>23231498Are you >>23225701 ?
Shitboxes are cool as long as they run. At least they look different than the sedans and SUV's that are 99% the same form. Those are boring.
>>23221974Because I have shitty personality and a boring life.
>>23221974Why do you shill this dumb ass faggot all the time instead of talking about driving cars?
>>23231426>$1500 shitbox in the current year
>>23229874This, if all you can afford is $300 in your monthly budget for a car, you cant afford a car
>>23232600only if you're a poorfag that puts 0 down
>>23221974If this makes you feel bad, just remember Tesla fags are paying $10,000 for this.https://youtu.be/RmEpkl0wXqw
>>23231147Congratulations. You're financially illiterate.
>>23227244That's why it broke, duh.
>>23225815>No fuck off, don't wanna deal with other's piss covered seats and any maintenance problems that might come upSTOP BUYING NON-JAPANESE CARS
>>23221974People getting upset at Dave simply calling them out for buying expensive cars they can barley afford will always be funny to me. Dave and other people like him saved my ass with his advice. While I don't have the things I truly wanted at this time, I am grateful that I have a decent 10-year-old truck for my job that I paid in cash, which also helped me save up on purchasing an affordable mobile home because I simply cannot afford a nice big house at the moment. Truth be told I never wanted to live in a mobile house, but I also didn't want to be piled in debt living in a house I could barley afford to live in so I had no choice but to buy a small $40k house which beats living in a shitty apartment in the city.Just heed Dave's words on car ownership, it'll save you in the long run. But if you are a richfag that can afford nice cars, disregard this post.
>>23221974do midwits and hillbillies that listen to him realize he's a shill for banks whose show exists to get people to AVOID using bankruptcy protection to get out of their unsecured debts? he's also personally filed for bankruptcy and now he tells his toothless audience to work 100 hours a week and 3 jobs to pay their debts kek
>>23225815this. used cars are timesinks and disgusting and depressing to drive
>>23226708lol this sounds like a poverty wage cuck jealous of more successful people. contractors and business owners write off all these trucks and shit with used trucks what they are, they MAKE money on a fleet of trucks
>>23234607>living in a mobile home instead of taking a mortgage out on an appreciating asset i.e. land, real house.anon you're dumb as shit and going to live in the trailer park forever lmao
>>23235529Bankruptcy isn't something you wanna just default to because you have a lot of unsecured debt. You aren't gonna discharge your debts like its a snap of the fingers. If you have car debt, you give up the car, if you have a house there are special rules around it but its entirely possible you can lose your home. If you have credit card debts those can sometimes be partially abolished. You can't discharge child support, fines or fees. If you owe money to say a contractor you can still get pursued by that person.On top of all that you can't just declare bankruptcy and think you're scott free, it fucks up your life for like 7-10 years and it becomes impossible to do anything with any sort of credit.
>>23229379Based and trueJust let them penny pinch and leave the rest for us, anon
>>23235579>taking a mortgage out on an appreciating asset Thought about it, but no.>live in the trailer park forever>trailer parkFirst, lol no. Second, I live off the grid in a remote area by myself in Who Gives A Shit, Texas. The small plot of land that my house sits on was surprisingly affordable as well since land isn't really that expensive out here. Not to brag but I saved a lot of money these past four years all thanks to my job and my other business related stuff. So it's working really well for me, it truly paid off and I'm satisfied. However, it's just not the time to buy a bigger house off the grid just yet.
>pay $180/mo for car>take home $3k/mo
>>23235853OK, what car?>>23235719Exactly. You save and invest. Stuffing money under the proverbial mattress just gets it eaten by inflation lmao.
>>23235546>they MAKE money on a fleet of trucksYou are so stupid it hurts. You should start a business called "I'm an idiot Inc." and just buy a gigantic fleet of trucks and MAKE money on paying them. Because tax writeoffs are just free money. Brilliant.
>>23235807Not that guy, but mobile homes are just like cars; they NEVER appreciate in value. The land might but the mobile homes are a depreciating asset. Even if you love the land and its location, you probably can never sell that mobile home to anyone for anywhere near the $40k you paid. I see what you did there though, you bought the land but essentially you've rented the house which may very well depreciate to $0. I'm in Texas too and I've seen plenty of large properties with 50 year old mobile homes because its cheaper to let that box turn into a storage unit or let the earth begin to reclaim it than it is to actually throw it out. So they become an eyesore and a $10k penalty if you ever want to sell the land because the buyer now has to dispose of that "house" or you have to pay someone to get rid of it.
>>23236967They're a tool used to make money you tool. You don't see contractors using HYPER TOUGH drills they got from Craigslist
>>23221974Drove two $1.8k beaters before I bought my current car for 8k.Feels good to not worry if you're gonna make it there or home every time you get into your car.
i dont understand how anybody has a car payment. i paid my new 23k car off in 3 yrs and was taking it pretty slow and putting a lot into my 401k.
>>23236980>Even if you love the land and its location, you probably can never sell that mobile home to anyone for anywhere near the $40k you paid.Selling the place or renting it out to someone never really crossed my mind since I had no plans on doing either in the first place really. I thought about giving it to my folks if I do move out since they like it out here where it's pretty quiet and really don't need a big 2-story house. But I see what you mean.
>>23235853Why didn't you just buy the car? Can you not plan ahead?
>>23235928Saving and investing your income is what is in OPs video.
>>23237212off topic question, but when you paid it off, did your credit score go down? i hear different shif about this
>>23237965Why would your credit score go down? you owe people less money, that means you have more income to spend on loans.
>>23237965>>23239616Yes, when you pay off your auto loan your credit score will go down. Nobody really knows why but thats just how it is. Pay off your mortgage score goes down. wind blows west, your score goes down. The only time your score goes up is slowly over time as you're paying interest on a loan. Its why a (((credit score))) is a giant scam.
>>23232629It looks like a 15 year old's first time driving with a parent.
>>23225815lmao I'm dying, about 30s after reading this comment I just realised that my dog has pissed in the passenger seat a few times since I've owned my car which someday I'm sure I will sell. Fucking kek. He's not wrong.
>Ameripoors have to drive a shitbox for life to even try to amass any relevant amount of wealth
>>23234607>to live is to be frugal and shrewd with your money >arguing about this with respect to cars on /o/ ITTSome people just don't give a fuck and prioritise enjoyment over min maxing their finances. Buying a car is never a good investment but if you're a car enthusiast and it's what you enjoy, what you're paying for is harder to quantify when people are in it for more than the mere utility of the equation.Naturally it's going to look retarded to some people.
>>23239616When i went debt free my credit score dropped below 800 all tbe way to around 760.
>>23222611Garuntee this is the gross amount and less taxes, benefits and other expenses it's quite small. Also willing to bet you either rent or have a mortgage so you don't have nearly as much disposable income as you claim. Wasting $500 a month on a car payment, not to mention the premium insurance required on it, is foolish.
>>23225471He actually would $6000 a month after taxes and benefits is about $3500 depending on what state you are in. What are his other expenses? Does he own land outright or is he doing a monthly payment to live too? Take into account food and other things, he is lucky to have $1000 left. And he squanders this on a depreciating worthless payment with interest.
>>23221974i spend all my money saved with my shitbox on anime figures.
>>23243929>i spend all my money on anime figures.CONSOOOOOOOOOOM
>>23235598it doesn't fuck your life up. your life is fucked up when you owe $50k or $300k to jew financiers. just write it off and move on. your credit is restored within a year
>>23229377rice and beans and deliver some pizzas on the weekends. dave is a literal con artist boomer getting rich telling goy cattle to work 100 hours a week and eat slop to pay the jew
>>23241628>>to live is to be frugal and shrewd with your moneyI just find this to be the best solution. It's not for everyone.