Bought a used Mercedes and got a 48 month loan paying $800. I know it wasn’t the wisest choice but I am very happy to drive around in one of my dream cars.
You know ngl live once so YOLO I guess….
Well I pulled the trigger on my first money sink unfortunately
byu/InterviewExciting230 inMilitaryFinance
Posted by InterviewExciting230
4 Comments
One of the hardest things I believe to be is the balance of living in the now and saving for the future. I invest $2100 a month and I don’t feel like it’s enough. I want a new truck but can’t justify it as it’s a depreciating asset. Then I argue with myself and say should I really wait till I’m 65 with $2.5 million in the bank?
End of the day, if you can afford it and still save for the future. Good on you. Enjoy!
At least it’s a 48 month loan…..
🪦
There’s opportunity cost with everything OP. But the bottom line is that we save money so that we can *eventually* spend it. You decide on when that “eventually” is. We take nothing with us when we die.
Insofar as the responsible thing to do: as long as you have enough money to stay housed, fed and are able to travel once or twice a year once you officially stop working, that’s all that matters.
If you have material goals outside of that (like a dream car), then it’s a matter of fitting that into the budget such that the above line items aren’t affected.