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skiiipi · 02-04-2013, 09:39 PM

OP

speaking from experience....I started working when i was 15, worked A LOT and had a decent paying job (~$20/hr...it was commission sales, and i was good at it), when i was 16, my parents gave me their old 1998 corolla....later that year, I traded in that car and put my savings (almost all of it) into a 2003 RSX-S......first mistake....this move costed me almost 2 years of hard earned savings, and at the time, i was getting 5%+ interest in a GIC account on that money. (Which is far better than any GIC will get me today)
Then, i started dumping every paycheque into the car....modding it, buying wheels, tires for auto x....and I even paid a stupid amount of $ to paint the car from 1 shade of white (PWP) to another shade of white (GPW). 2nd mistake (this "phase" of mine, ment that the next 2 years, I lived with no savings....I had no expenses..parents paid for housing and even my insurance...this was a perfect time for me to save $....instead I blew it on car mods).
When I was 18, i out grew the car mod phase......and ended up trading in the RSX-S for a fraction of what I paid for (and put in) towards a new Subaru Legacy......took on a $450/month car payment (48 month) and thought I could afford it since I worked full time...lived at home and had no other debt. (3rd mistake....should've traded the RSX-S for something used, practical and something that I shouldn't of financed) Because what happened was 6 month after I bought the Subaru...i ended up moving out...and started paying rent along with my GF at the time.......all of a sudden I couldnt afford rent and car payments. I ended up uninsuring my car and took transit for almost 6 month.

I made a few more bad decisions after that....but all in all.....had I not been so immature back when I was young, and just drove the Corolla until I moved out.....I probably would have had enough savings to put into a down payment on a place....or at the very least, bought that Subaru without having to finance.......

you are still young, your chance to drive a nice car will come.....take the opportunity while u are living at home to save and invest your money.

I'm 25 yrs old now....living pay cheque to pay cheuqe (albeit its a decent pay cheque)....paying rent monthly...and not much to show for......a lot of that could have changed had I just stuck w/ the corolla when I was in high school.

02-04-2013, 09:39 PM	#61
skiiipi My homepage has been set to RS Join Date: Jun 2005 Location: Canada Posts: 2,327 Thanked 1,645 Times in 446 Posts Failed 19 Times in 10 Posts	OP speaking from experience....I started working when i was 15, worked A LOT and had a decent paying job (~$20/hr...it was commission sales, and i was good at it), when i was 16, my parents gave me their old 1998 corolla....later that year, I traded in that car and put my savings (almost all of it) into a 2003 RSX-S......first mistake....this move costed me almost 2 years of hard earned savings, and at the time, i was getting 5%+ interest in a GIC account on that money. (Which is far better than any GIC will get me today) Then, i started dumping every paycheque into the car....modding it, buying wheels, tires for auto x....and I even paid a stupid amount of $ to paint the car from 1 shade of white (PWP) to another shade of white (GPW). 2nd mistake (this "phase" of mine, ment that the next 2 years, I lived with no savings....I had no expenses..parents paid for housing and even my insurance...this was a perfect time for me to save $....instead I blew it on car mods). When I was 18, i out grew the car mod phase......and ended up trading in the RSX-S for a fraction of what I paid for (and put in) towards a new Subaru Legacy......took on a $450/month car payment (48 month) and thought I could afford it since I worked full time...lived at home and had no other debt. (3rd mistake....should've traded the RSX-S for something used, practical and something that I shouldn't of financed) Because what happened was 6 month after I bought the Subaru...i ended up moving out...and started paying rent along with my GF at the time.......all of a sudden I couldnt afford rent and car payments. I ended up uninsuring my car and took transit for almost 6 month. I made a few more bad decisions after that....but all in all.....had I not been so immature back when I was young, and just drove the Corolla until I moved out.....I probably would have had enough savings to put into a down payment on a place....or at the very least, bought that Subaru without having to finance....... you are still young, your chance to drive a nice car will come.....take the opportunity while u are living at home to save and invest your money. I'm 25 yrs old now....living pay cheque to pay cheuqe (albeit its a decent pay cheque)....paying rent monthly...and not much to show for......a lot of that could have changed had I just stuck w/ the corolla when I was in high school.