Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
A friend of mine is about to buy a car and is not going to heed my warnings about low-down loans and being upside down. He claims his health is more important and he can't get enough sleep when he has to use transit commutes, though it seems a discipline problem on his part is the real problem since he doesn't manage his time well and stays up too late at night! He's now living at home again at age 28 due to poor money management resulting in insufficient funds for a security deposit after moving out of his old apartment. He could, with better time management, get 7-8 hrs of sleep a night and save a much better down payment on the car in just 2 months or so, so that he'd remain rightside-up with a reasonable length loan (48 months). But alas, this is probably not going to happen. He plans on going low down and stretching the loan out to reduce payments. He's going to be stuck in his car for the first 1-2 years. If for any reason he needs to change cars or loses his job before the zero equity crossover point, he'll be stuck!!!!
Well -- Ron White said it best -- you can't fix stupid. If this guy is intent on doing this, there is nothing you can do.
Hopefully your friend will be smart and use the time living at his parents' house to make extra payments on the new car as well as build up his savings. And with a car, he now has more flexibility to work extra hours or take a second job that may not have been possible when he was relying on public transit.
Why should he do anything for these scrubs? They made their own mess. Their car wouldn't have been in the driveway if they'd had their own place to live.
Well, since we've only heard the OP's version, there may very well be more to this story. How do you know they're "scrubs" when you have never even met them?
She insisted on have a Mini Van (which is appropriate) I showed here the exact model she wanted with 25k miles on it 3years old and she said she wanted new so she went and leased a brand new one.
then my brother in law says his needs to be new because he commutes and it needs to be reliable.
you cant reason with these people.
But you didn't offer, did you? All you did was say, "here, buy this cheaper one". Then you come on this forum to berate her so that all the perfect-personal-finance-gurus can stroke your ego by telling you you did right. Maybe you did or maybe you didn't. I'm not joining the piling on when I don't know the particulars of the people involved, only an outline based on one of the parties' view of things.
I have a mother who liquidated her 401K last year and didn't realize there was a tax implication for doing so (she is only 56). She also walked away from a house which eventually went into foreclosure because she left her ex fiancee with it after she put the $100K down payment on it. He was an alcoholic who didn't work and she was tired of being abused. They recently bought a used ford fiesta at 12% interest for my step dads daughter when she turned 16. She ran away with the car and now they are stuck with the payments.
My sister is on unemployment and recently divorced her husband making $180K/year because they "weren't in love" anymore, noble I guess... Now she dates some loser who also doesn't work and she can't afford her blood thinner medication due to multiple lung clots she has had. While she was married she was an unemployed stay at home wife who we begged to go back to school to develop a skill, she chose to do nothing instead.
Long story short... you get numb to it after a while.
....She is not working and her husband and her family just moved into our parents house to help them out since she is not working and child care would crush them.......
Seems to me they are doing just fine. They live for free and drive two really nice cars.
She doesn't work, so how come the family needs help because of the cost of child care?
Some people figure out how to live like leaches on their friends, relatives, and welfare. Your sister and her family have it all dialed in.
I don't get emotionally distressed over their decisions. At least I don't consider it distressed. In the end I don't lose sleep over friends or family financial decisions. A bit frustrated if they ask for financial advice, we sit down explain the facts and they go ahead and do what they were gonna do anyway. But overall it's their money their choices.
For the most part, it's their own finances and choices, not mine, so I mind my own business. Everyone makes a financial mistake or two at one point or another. It's part of life. However, some people just do it over and over and over.
Not anymore. I've finally given up on control other people lives. Even for my own kids since I'm going to retire. My anxiety level just goes way down because I finally realized there is not much I can do. The best I can do now is worry about mine and my husband's health. Everybody else worries about everybody else's problem. Selfish, yes.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
