@jon-payne it's simple economics, at 18 years old you shouldn't be spending $35K on a car.?ÿ My daughter started working part time when she was 14 and banked her money.?ÿ For the first 3 years she worked after school and during the summers busing tables for two dollars and change, plus tips.?ÿ When she was 17, she got her driver's license and spent $6K of her own money on the car she wanted.?ÿ Half way through the summer that year, a friend of hers talked her into switching jobs and she took a job pumping gas for $7.25/hr.?ÿ Not long after that, the owner sold the station she was working at, the seller liked how she worked and took on all of the available hours she could get and offered her the same job at one of his other stations for $10/hr and she jumped on it.
She graduated high school when she was 18.?ÿ Within two months of that, she had me take her off of my car insurance policy and cell phone plan and paid for her own insurance coverage and cell phone plan.?ÿ She moved out to live with her high school sweetheart at 18 1/2.?ÿ When she was 20, she wanted a newer car and asked me to co sign for a $14K car loan, which I did.?ÿ She's never been late on a payment and has never missed one and she does not live beyond her means.?ÿ She's now 22 and has never asked me for a penny since she left home and she has a pretty good credit score for somebody her age.
I raised he the way I was raised, I provided her with the necessities and she had to work for things she wanted but did not need.?ÿ When I was paying both my business and house bills, I sat her sit beside me and showed her the money I had to work with and the bills, as well as what was left over to cover food and other expenses.?ÿ She learned young how to manage money.
At 22, she is now two years married and has stayed afloat on her own.?ÿ If she can do it without making anywhere near $25/hr, why can't others her age??ÿ I'm not talking about years ago, I'm talking about recent years and the current year.
