Anyone Ever Take a Look At The Value Of Your e30 Lately?

[Philo]

I think people really need to be better educated on personal finance throughout their youth.

[blocke]

I think people really need to be better educated on personal finance throughout their youth.

I agree. There should be a mandatory class junior or senior year of High School on credit and personal finance. I know too many people, myself included that got in over their heads as soon as they turned 18 and got credit. Credit card companies target youth, as they pretty much all max out their cards, and make the minimum payment for years on end.

[Restoman]

I can't tell you how many kids I heard tell me that "I've got this card so I can make some credit history." About the only thing in life you should EVER finance is a house and even then pay it off quickly.

[Restoman]

Don't tell me you have to finance cars because you don't !

[Philo]

Yep. I'm 20 and do not have a credit card now, nor do I want one in the near future. ATM card, cash, and check book has sufficed so far. My private bank gives me loans when I need them, and for almost any amount. Started small with them and handled it responsibly.

[ortholithiation]

Left school after 6 years with a graduate degree: No debt.

Starting working, making good salary for 8 months. Other than an old e30 I purchased and started fixing (on a strict budget) I saved everything. I still live well, I just don't have/need a flatscreen and the new Iphone.

Now I am going to be laid off. I might have to sell the e30, but I am secure financially for at least 1 year. Don't live beyond your means and don't go into debt except to acquire real assets, not liabilities. Figure out how to make more money to afford things rather then “I have to make more money because I’m screwed”.

So many "smart" young people are up to their asses in debt just to live it big. People laughed at what my daily driver was; now it’s not looking too bad.