Your CAR is a money pit driving you to STAY BROKE

Рет қаралды 140,695

Күн бұрын

Here is how your car is a money pit that's keeping you broke and driving you away from your financial wealth and into financial stress! Many people use cars as status symbols to symbolize wealth prioritizing aesthetics over financial health. #socialcommentary #videoessay
SITES:
How much does it cost to own a car?
www.bankrate.com/insurance/ca...
How To Beat Car Depreciation
www.kbb.com/car-advice/how-to...
How Does Transportation Spending Impact Average Households?
itdp.org/2024/01/24/high-cost...
Peacocks, Porsches, and Thorstein Veblen: Conspicuous Consumption Signaling System
assets.csom.umn.edu/assets/16...
Keeping Up With the Joneses: Nearly 40% of Americans Overspend to Impress Others; Most Want to ‘Feel Successful’
www.lendingtree.com/debt-cons...
Car interest rates for average first time car buyer!
www.marketwatch.com/guides/ca...
Big Tymers: Still Fly
• Big Tymers - Still Fly
hapters:
00:00 Intro
00:00 Why Is There a Need to flex
01:16 Men’s Conspicuous Spending to impress Mates
01:26 The Car is a status symbol of what you really want
01:56 Annual Cost of car ownership
02:27 How Much The Average American has in Emergency Fund
02:36 Average Monthly Cost of car ownership
02:42 Can You Afford a Car based on monthly payments?
03:08 Lower Income Households owning Cars
03:24 Owning Cars as a young adult for independence
04:32 You don’t need your dream car at a young age
06:08 Some People put all their resources into a car
06:46 You DON’T NEED A BMW
07:25 High Car notes
07:48 The Big Tymers“Still Fly”
08:32 A BROKE mindset
09:17 Broke People with MULTIPLE cars
09:46 Filling the void of wealth with cars
10:10 Maybe Save to Pay Cash
10:46 Honesty for those with a Need to Impress Others
11:14 Invest in Your Future
12:26 Not Saving and Unnecessary spending
12:44 HoodRich
13:10 Stop making everyone else rich!
14:01 How you can stay broke
14:26 Transportation options to avoid car payments
15:05 You have the power to change things
Keywords:
aesthetic, aesthetics, aesthetic appeal, trends, consumerism, financial stress, overconsumption, social commentary, social media, video essay, consumer trends, online content, financial well-being, personal finance, money mindset, money management, lifestyle influencers, social media trends, financial literacy, influencer marketing trap, budgeting tips, economic impact, online influencers, sustainable living, saving money, wealth management, rends, commentary genre, self-care, self-help, critical theory, literature, literary theory, critical lens, video essay, criticism, fake reality, internet, digital, instagram, tiktok, gen-z, language, communication, signs, philosophy, sociology, media, fake news, content creation, content, beauty standards, beauty ideals, trends, pure imagination, world, fiction, dystopia, Car ownership costs, financial strain of car ownership, budgeting for car expenses, avoiding car loan pitfalls, saving money on car maintenance, depreciation and resale value, smart spending on cars, financial impact of car purchases, investing vs. spending on cars, achieving financial goals with responsible car ownership

Пікірлер: 1 500

@SocialSymone 2 ай бұрын

What's the highest car payment you've heard or seen and do you know anyone with a 🚗Car or flexing obsession? Also what's your phone 🔋on? It's 9:12 p.m. here and I'm on 47%😭

@adnaloy9025 2 ай бұрын

34% at 11am. 😬😢

@The_Food_Police 2 ай бұрын

Highest car payment among ppl I know is $980 per month for a 2023 dodge charger! Crippling.

@SocialSymone 2 ай бұрын

Now @adnaloy0925! IT’S TOO EARLY FOR THIS 😂

@SocialSymone 2 ай бұрын

@The_Food_Police Ridiculous! Is this person Rich or have lots of money? I hope this is not a normal citizen, cause if so… 🥴

@The_Food_Police 2 ай бұрын

@@SocialSymone lol this person makes 60k per year so just middle class. They're almost drowning!

@scottt3286 Ай бұрын

"Gas tank on E, but all drinks on me"

@MarciaRain 29 күн бұрын

Wipe me dine 💃🏾

@shanwoman8367 27 күн бұрын

we thank god every day ! loll

@so.many.obstacles 26 күн бұрын

Fresh kicks, fresh white tall tee

@TheRockLobsterMafia 20 күн бұрын

Lil Boosie!!!

@jackiehotchkiss3278 15 күн бұрын

😂😂😂😂

@manny7662 2 ай бұрын

Hondas and Toyota for the win.

@SocialSymone 2 ай бұрын

I never heard anything bad about honda until this video. Someone in another comment said that they had 1K worth of maintenance on it monthly. But other than that Honda's in Toyota's have always been the car is that I would pick from. I personally have only ever owned toyotas and prefer them and they last forever!

@JM-bb8xi 2 ай бұрын

Yup if only they didn't cost the same as 2 cars now.

@ChadAV69 2 ай бұрын

@@JM-bb8xi get a used one

@_meiko000 2 ай бұрын

Stay away from those newer Hondas. Those CVTS don’t last.

@jazzyj6640 2 ай бұрын

Hunned

@latteatthelibrary 2 ай бұрын

When my car got totaled, I had the option to use my settlement money for a down payment on the gorgeous new car I wanted or a nice but older car paid in full. Decided to pay in full and had extra to pay my car insurance up for a year and put the rest in savings. Literally the best financial choice I’ve made

@LEMATTOFFICIAL Ай бұрын

You beat your emotions! That's 98% of the battle, good sht!

@chrisSea1346 Ай бұрын

Good for you! This is such a good decision I’m. In the same situation (I hope you’re okay from your accident). But yeah, I could buy another luxury car but I’m not. I’m going with a sensible car this time.

@transitengineer Ай бұрын

Yes, in 10-years later would you prefer to have a new automobile that, is now old or $100,000 in investments? (smile...smile)

@pjay3586 Ай бұрын

Very wise.

@transitengineer Ай бұрын

@@chrisSea1346 You save even more money if, you get a sensible used car and not a new model. Ask your local car dealership to let you know when lease models of the car, you want will be returning. Once received dealerships normally re-sell these used cars as "certified used" and, will many times also provide a nice warranty (smile...smile).

@RobbyGoodwin Ай бұрын

I had a coworker who whole identity & self-worth was tied to his Escalade! When he would feel bad about himself, he would literally remind everybody he had a Escalade!

@ladyblueamb Ай бұрын

I’ve met people like that 😂

@johnmartin660 Ай бұрын

My vehicle helps in keeping me happy. I know guys paying over $1000 per month on child support and/or daycare and they're miserable. Protect your mental health by all means

@mpazinambao2938 Ай бұрын

😅

@Judge_Jej Ай бұрын

Whenever i see one at a buy here pay here there is a twinge of temptations to buy it and put it on spinners like an early 2000s rapper

@naya4607 Ай бұрын

So weirdddd

@BobSure_AKA_PotatoSmasher 2 ай бұрын

Cars cost too much money even when PAID OFF. Gas, maintenance, insurance will STILL f up your budget.

@SocialSymone 2 ай бұрын

Agreed! Thats why the totap cost is important to factor, along with costs going up 💕

@86Kera 2 ай бұрын

And insurance is going up every 6 months not like the annual like it used to be

@drillingig2368 2 ай бұрын

Buy a cheaper vehicle then.

@haute03 2 ай бұрын

@@SocialSymone Absolutely. When I was researching what car I wanted to buy I made sure I looked up the average maintenance costs per year and whether the car was good on gas to see what I wanted to purchase.

@crytkryssus9851 Ай бұрын

Mine's paid off. Hardly have to do any maintenance, just change the oil myself. $25 a week to fill up to fill at Costco once a week. Toyota Prius 2017. I did take it for some other regular maintenance but it's at 130k now. Had it since 28k.

@The_Food_Police 2 ай бұрын

Paying off my car was the best decision of my life. Imagine the freedom that you'll have when, all of a sudden, the 2nd biggest bill you have is ELIMINATED.

@SocialSymone 2 ай бұрын

Congratulations! I know the felling and said I’m riding mine till the wheels falls off! 💕💕💕

@humm23 2 ай бұрын

And now imagine you keep paying that car note to yourself and put it into a a index fund and then when you need to get a different car, you make some clicks, wait a few days, and bam that money lands into your account. Then you go get the car you want, write a check and go on with your day. You can buy a brand new car in less than an hour.

@SocialSymone 2 ай бұрын

@@humm23 THIS!!!! You are winning! 🏆

@humm23 2 ай бұрын

@@SocialSymone I am just a big nerd, who learned the power of money early. I can drive anything I want, I CHOOSE what I have a '12 Outback with 120K miles on it.

@SocialSymone 2 ай бұрын

@@humm23 I see you! We love Nerds over here! 💕💕💕💕

@MrCasebi 26 күн бұрын

My car IS a status symbol, and I use it as such. When people see me in a late 90s car with peeling paint and 200k miles, they see nothing of interest or desire. I become invisible or irrelevant, which is EXACTLY what I want!

@AustinBruner Ай бұрын

Toyota gang checking in here. Still driving around a 2004 Toyota Sienna with 200,000 miles on it. No car payments barely any insurance and a full bank account have me sleeping soundly at night 😴

@VexedGenX Ай бұрын

2005 Camry with 160K miles. Riding it until the wheels fall off.

@ghihbgyu Ай бұрын

1998 Toyota Avensis with 106K miles :-) It's starting to rust quite a bit, though. Do you guys in America also spread salt on the roads in winter to decrease the melting temperature of the ice? That is really hard on the poor cars.

@aleishab961 Ай бұрын

I'm dating a mechanic and we drive vehicles ranging from '90 to '05. All of then are absolute solid tanks and barely have issues other than just some easily fixed wear and tear. New cars are built to nit last AND make you spend a LOT more becuase the issues 1) have to be fixed at a dealer with the cars software and 2) when one thing goes wrong it's connected to other things that cause other issues. Buy older cars!!!!

@janellef6902 Ай бұрын

2011 Camry…169k miles and going strong

@bunnybaker2289 Ай бұрын

Got my mom’s 2008 Lexus for $7,500 paid off. She’s been very low maintenance

@callalilly4743 2 ай бұрын

Most of my wealth was wasted on 4 cars in less than 15 years. Currently driving a paid off 2016 and I've never felt better about myself.

@SocialSymone 2 ай бұрын

We all have made mistakes but you learned from it. I'm glad you have your car paid off! You should be proud of yourself. 💕💕💕

@backs8189 Ай бұрын

2016 is still a solid year lol. not sure what everyones obsession is with getting NEW marked up vehicles. Get the same 2023 model you were initially planning, in the 2019 variant or something. 1. will already be depreciated, so the value youre paying, is about where itll balance out at. 2. youre not paying overmarked prices, for the same thing lol. (besides maybe subtle different useless features on newer ones.)

@brokeboii4103 2 ай бұрын

Nawww me and my 2000 Honda civic getting rich together. The gas saver 🎉

@ritaree123 Ай бұрын

Amen 🙏🏾 Amen 🙏🏾 Amen 🙏🏾

@victoriatowns9237 26 күн бұрын

My 2001 accord met an untimely end, so now I drive a 2011 accord that’s totally paid off. I will drive it until it physically falls apart. It will give upon me before I give up on it😂. I prefer my cars to be paid off, zero screens, and with a decent mpg.

@laseximexi 23 күн бұрын

Bless you my 2000 Honda Accord still rolling on 300k+

@tsuki3752 20 күн бұрын

honestly! i wanted an older car anyway since i have a lot of cds i wanted to play through it, and only the older models have cd players, let alone cassettes (which i have a couple of). this is my main reasoning for buying an older car but honestly this video is giving me more practical reasonings 😂

@xolovetari5511 16 күн бұрын

9:34🤣

@maddieiles99 2 ай бұрын

The worst financial decision I have ever made is financing an SUV. I will drive this thing until it cannot drive anymore and then I will NEVER finance a car AGAIN.

@tomlxyz Ай бұрын

I don't know your situation so don't take what I say too seriously. I'm just wondering if keeping an SUV is financially sound long term, like extra fuel cost, more depreciation etc

@zwicker5585 27 күн бұрын

@@tomlxyz some people are just too addicted to driving up high, and feeling "safe" despite the costs and the fact they are far worse for safety for everyone outside the car

@KAye633 24 күн бұрын

I don’t finance at all anymore

@starsinger5935 24 күн бұрын

SAME.

@flyingdutchman9053 18 күн бұрын

@@zwicker5585well I got one because its much easier with 2 babies. Not having to bow down every time you put them in the car is big for me. In 5-6 years this is gonna change tho

@teeteechau Ай бұрын

I feel so called out and I am SO glad for it. I was just looking at cars last night delusionally thinking I deserve it. What I deserve is my current paid off car and a retirement fund

@mpazinambao2938 Ай бұрын

Treat yourself..... with something more reasonable cause the world is going to hell!

@ToniaAlex13 Ай бұрын

Every now and then it is actually okay to treat yourself. If you die tomorrow you wont take anything with you, someone else will enjoy your hard work. Ibtreat myself with things i enjoy doing but responsibly.

@Queen_EL11 12 күн бұрын

‼️

@aesinam 9 күн бұрын

@@ToniaAlex13treating yourself is all well and good but this person already has a working vehicle so maybe a nice trip or something else would be a better treat not a treat that they will end up paying for for years

@kyyyy21 Ай бұрын

This is facts, my car is nearly paid off and im actually in the process of financing another one as we speak, im going to phone them and cancel the application. You're right, thank you.

@sincerelysandi 28 күн бұрын

🙌🏾

@dhillaz 24 күн бұрын

Smart move, congrats 👍

@whyguitarguy1 21 күн бұрын

I hope you stuck to this, and are able to put that money elsewhere. Congratulations on it being almost paid off, though!

@user-mb8rf7qk5q 19 күн бұрын

I did this and it was a huge mistake. Don’t finance another vehicle after you have one paid off. Don’t finance another car ever!

@kyyyy21 19 күн бұрын

@@whyguitarguy1 Oh I stuck to it alright, still driving my 2016 Mazda ! Ain't gonna buy another car for ALTEAST 5 years. Mostly thanks to this video!

@kathleenencarnacion3383 2 ай бұрын

I’m excited to make healthy financial changes. No more games it’s time to be smart with money.

@SocialSymone 2 ай бұрын

You can do it! You just gotta see it through 💕💕💕💕

@setsunatodoroki 2 ай бұрын

Periodt! Like didn't we learned that from #MissRona 4 years ago !?

@whatwasisaying1338 2 ай бұрын

Live within your means and keep those overhead costs low. Step 2: Invest. 💪🏾

@reenakemp9132 2 ай бұрын

Save your money and buy a piece of land, the best investment, or goal, you can have in life is getting you your own piece of earth.

@zozozizi6688 Ай бұрын

And just start. Because if you plan and don't act, you will never achieve your goal, the time will pass anyway and will not wait for you. Start where ever you are and with what you have.

@user-po9ne6tx1c 2 ай бұрын

Listening to this, I started feeling bad, because when my mom's car broke, I decided to give her my old car and buy a new car. When I went to the dealership, I had an amazing deal on my dream car. I made the calculation and the interest rate was peanut. I had the means and I bought it. The next following months, I kept feeling guilty and recalculating if I could afford it. I started planning to resell it when someone told me straight in the eyes "you actually CAN afford this car". I just couldn't reconcile that I wasn't "broke" anymore. It is a relief, but I will carry this frugal mindset as I move.

@zozozizi6688 Ай бұрын

If you focus on the interest rates, that means you can't afford the car. Because the salesman can give you any rates you want. They just have to adapt the period. The longer the period, the more expensive it becomes.

@technojunkie123 Ай бұрын

Bestie please don’t carry this frugal mindset on all purchases. This video is about folks who don’t do the math/buy the thing even when it doesn’t make financial sense, and that’s NOT the case with you. Money is a tool to help improve our lives - you did the math, it worked out financially, and it’s something that benefitted you & your mom, this is how money should be spent!

@GlamGoddes101 Ай бұрын

If you know you can afford it, this doesn’t apply to you

@zozozizi6688 Ай бұрын

Affording a car does not means being able to pay the monthly payments. Save as much money as possible for a down-payment and pay the rest of the money as soon as possible.

@wPleasur3 Ай бұрын

If you have to finance a depreciating asset, you can’t afford it.

@LOLZHAHANOTFUNNY 2 ай бұрын

My husband and I are both 28, never had a car payment and paid off 26k of student loans 2 years ago. We drive our 2 year old around in a Nissan Armada with 218k miles on it. People probably think we are broke the way we live, but we love treating other people and saving for the future. We just aren't concerned with our image.

@saintgregory9372 2 ай бұрын

🙌🏼🙌🏼

@HBCSChannel Ай бұрын

U had the luxury of getting a car handed to you clearly or was lucky buying a car from someone that wasn’t a lemon so chill

@designateddoser7651 Ай бұрын

I bought an old car with 100k miles on it, but it was still 10k and I even put a couple thousand down. Some people NEED a car and don't have the money to pay for something that lasts long enough in full.

@romariosmith422 Ай бұрын

People probably didn't think anything.

@dylanhinkel3548 28 күн бұрын

⁠@@HBCSChannel anyone could get a 90’s beater for $1000 bucks in a condition that would last for 50,000+ miles 5 years ago. It’s harder now but no she didn’t have a car handed to her back then, cars were cheap.

@louismwobobia5773 2 ай бұрын

Sadly these days "treating yourself; enjoying life" = wasting money on something you don't need.

@syifau1093 2 ай бұрын

OMG this!!

@imitationpitaya Ай бұрын

Because a lot of people don’t believe they’ll ever have the ability in the future. So they say “screw it” and just buy whatever now

@chaos5642 Ай бұрын

It's always been that way

@THETHIRDL2009 Ай бұрын

It isn't the fact of wanting to enjoy life. I think everyone should. But if you have to finance or go into debt than you shouldn't. But it's people literal job to convince you that you should.

@himhim3344 Ай бұрын

That's exactly what a treat is. You don't *need* 🍦but....

@aignefrench3472 2 ай бұрын

me getting my license at 28 have been a blessing in disguise. even though i’m considered “super late” from society. i’m now looking to get a used car and i want to pay in cash.

@SocialSymone 2 ай бұрын

Yoy aren't late, you are PREPARED! Cars getting repossessed too, you can have dealers have a bidding war for you or negotiate better deals since you actually have the cash! You are in a great position 💜

@aignefrench3472 2 ай бұрын

@@SocialSymone thank you so much. and this is great information i will use. hopefully i will have an update before the end of the year. 🥰

@seleciaa Ай бұрын

Same! I got my license at 26, and it's been a blessing in disguise.

@citlallimtnz2729 Ай бұрын

I got my license late too and I miss not driving😂. I saved so much and I don’t even have car payments only need gas, maintenance and insurance. That already feels too much for me so then imagine a car payment.

@wetter4293 Ай бұрын

Imma be real - I STILL don't have my license at 28. I've been ubering / lyfting around and it's been a lifesaver. I noticed before, EVERYONE was saying "oh, why don't you get a car?! Why don't you get a car?" Then realizing those same people stopped questioning me around a year or two ago...all of a sudden, people losing cars, and can't keep up with their insurance...RIP

@AmeilaStar 2 ай бұрын

Unfortunately due to the pandemic, “normal cars” are very expensive now. I’m in banking, interest rates are very high. Look into the credit unions for lower rates. Also, if you are in a shit loan with a regular car. Don’t beat yourself up, you are doing your best.

@greedygenius123 28 күн бұрын

You’re not doing your best when you could’ve bought something way more modest for cash.

@Shay416 27 күн бұрын

Buy a used Toyota that you can pay for in cash. There's always a better way to the same place. People need to excercise discernment.

@so.many.obstacles 26 күн бұрын

@@greedygenius123Well if the decision is made by there’s no need for the for should’ve, could’ve, would’ve. It’s done! At the point people need to learn their lesson and move on, not be shamed and made to feel guilty.

@aquaabundance4077 18 күн бұрын

Good advice. Thanks Amelia ❤

@globalelite3042 18 күн бұрын

@@Shay416the used toyota is also getting a markup. There isnt any car level right now that isnt getting squeezed. Ive seen 2010s marked up to 30% or more

@timmymiron2727 Ай бұрын

I bought a brand new Honda Civic 13 years ago (Honda cars are so reliable), I paid it off in 5 years, and 8 years without a car payment is fantastic. As soon as my car was paid off, I transferred that money into my condo payment. Now I am 45 years old and I have no debt, I am absolutely debt free. I will keep this car until it dies.

@mpazinambao2938 Ай бұрын

Yay!!

@pkdude5334 26 күн бұрын

four 15's didn't see no wires, and then I heard a boom from the amplifiers

@SocialSymone 26 күн бұрын

This is THE COMMENT 😂

@elcee8 Ай бұрын

I remember when i started my career 13-14 years ago, I'd see in the parking lot of the clinic these BMW's and Mercedes owned by the medical assistants, who at the time were making about $12-$15 an hour (seriously underpaid). But the docs, NP's and PA's who worked there had old subarus and other older cars. I could never forget that. I had a ton of student loans then so I didn't feel the need to replace my 2005 corolla. I still have that 2005 corolla - has been with me for over 20 years.

@willberg8599 Ай бұрын

Amazing 🙌

@cblu5254 Ай бұрын

How can you own a 2005 Corolla for 20 years in year 2024? Hit me up I wanna know more about time traveling.

@elbuhdai605 Ай бұрын

@@cblu5254 Car years are usually named for the year after they were released. A 2005 Toyota was probably released in 2004.

@Shay416 27 күн бұрын

My doctor (retired) owned his practice had an Avalon, still in crisp condition to this day. He has a really nice house, man knows his assets

@user56gghtf 2 күн бұрын

Corolla are beasts. 🙃

@sekanstar3243 2 ай бұрын

I never have car payment, the first car I ever bought was for 3000, pay full in cash, drove it for 5 years till got into an accident and the insurance company decide to total it instead of fixing since it will cost too much to fix, got a check for 1700 and keep driving it for another 3 years till it stop, calculated the price of car monthly payment, insurance, gas, monthly parking fee, toll fee then decide that I can take the bus, do it for a couple of years then got work at home, just pay off my house last year, the freedom of no debt is amazing 🥰

@User-zt6fu Ай бұрын

This video is pure facts. I’m 22 years old and earlier this year I bought a 2015 Toyota Prius with cash. Meanwhile, my friends are driving BMW’s and Tesla’s but they really can’t afford them. They’re trapped in high interest loans, drowning in debt and repairs, struggling to pay off their cars. Meanwhile, I’m living comfortably driving my Prius. My car might not look as cool or flashy as theirs, but that’s the point. They look like they got it like that but they don’t. I actually do.

@mysterioso2006 2 ай бұрын

its so wild to me, 46% of millenials spend money on things to impress ppl?? im out here deciding if i have enough money to splurge on a 99 cent donut while im buying groceries. just a totally different world from mine

@SocialSymone 2 ай бұрын

Yes it crazzzzyyyyy! I knewaloy if people did this but seeing the stats is mind blowing, but the truth is the truth. 😩And I felt you on the donut splurge. My thing is the 4.99 Apple fritters at the grocery store bakery’s 😂 I walk past it fast to avoid temptation lol

@mysterioso2006 2 ай бұрын

@@SocialSymone girl or the 1.50 lil single-serving pies??? THOSE are whats keeping me poor lmfao

@SocialSymone 2 ай бұрын

😂

@arh1234 Ай бұрын

I'm surprised it's that low. Only 46% have ever bought a shoe, a shirt, a bag, a phone, with social status in mind? Seems shockingly low

@milkcatdog394 26 күн бұрын

Trust me, my 2018 Honda civic is not impressing anyone 😅

@CocoLicious 2 ай бұрын

I am in my mid 30s, we have a nice income and our car is paid off for over 5 years. That money is well spent elsewhere. An expensive car won't make you rich, it's often just the opposite.

@SocialSymone 2 ай бұрын

Exactly! An expensive car habit can keep you broke easily and congratulations to you on ni car loan! 🎊🎉🥳

@haute03 2 ай бұрын

"Some of y'all be on the internet a little too much and don't do any research into the things that matter." Listennnn. This is too true. Like how are you chronically online, but signing up for loans and making huge purchases with little to no information about what you're buying? Make it make sense!

@HomeBizTaxLady 10 күн бұрын

I’m sending this to my children. My son will graduate from college with no student debt and a paid off RELIABLE car. He doesn’t understand how much of a flex that actually is.

@themiamireader 2 ай бұрын

Love this video! Some people don’t understand why I don’t own a car and just Uber everywhere. Since I remote work, it’s genuinely cheaper to just get everywhere through Uber than purchasing a car + insurance + apartment parking + tolls + literally everything else I’m forgetting. I don’t want that commitment. You guys can keep your car payments 😂

@SocialSymone 2 ай бұрын

You are doing what makes the most sense for you and your wallet and there is no shame in that! And I'm with you Forget them car payments! Won't catch us in the trap! 💕💕💕💕

@JoshHitti 27 күн бұрын

When I was making $40k out of college, I was driving a $30k BMW in an attempt to look successful. I learned the lesson of delayed gratification a couple years later, as I earn more, I stopped purchasing more expensive things. I earn 5x now and drive a 12 year old Honda that costs $10k. Make future you proud.

@jdb7918 2 ай бұрын

It is so refreshing to see a young woman who's financially literate.

@stinkystu1 Ай бұрын

Really? She threw her money away. Why don't people understand the concept of making your money work for you? When was this concept lost? If you have the ability to pay off your car, It makes much better since to invest it because if invested wisely, you can make more each month than the cost of the car payment. Holy cow the older generations didn't teach you guys shit.

@SnowofLight Ай бұрын

@@stinkystu1Cheapest loan I could get was 7.19%. the average non-Warren Buffet is not doing much better than that in investments.

@THETHIRDL2009 Ай бұрын

@stinkystu1 The thing is it wasn't lost. It was never taught in the first place. because it's an intentional to make people ignorant about financial literacy. That way they can make bank off you.or in this case a whole generation of people. They've done it with education, housing, transportation or any so called mandatory mile stone in life.

@sawyerh.923 22 күн бұрын

@@stinkystu1 Auto loans are amortized. Paying out the entire loan, you pay a hugely disproportionate interest rate. A $30,000 car at 7% over 60mo (common to get the monthly payment down) comes out to 21% total interest. Paying it off in half the time saves you over $3,000 in interest expenses and comes out to about 10%. Investing the same amount nets you about $5,000 more after the loan is paid off, but if you subtract excess interest expense on the loan it’s more like $2,000 and your car has further depreciated during that time, which would affect a balance sheet of net worth. As you can see, approaching money strictly in using liquid currency doesn’t account for what is actually happening to your net equity. So you’re not really coming out a head in terms of equity by investing that money. Paying off interest expenses sooner rather than later is making your money work for you because it’s going toward the principle of an asset rather than the cost of financing it. You’re saying she should’ve spent more money on the car, which is literally throwing her money away.

@lVlegabyte 2 ай бұрын

I remember working at the bank for a few years. Almost every time I had someone come in for their last car payment, the next month or so they had another car loan for a new car. I wasn’t complaining too much because I got paid a bonus for them opening a loan through us, but still was confused as to why they wouldn’t drive their perfectly good car for a few years longer and enjoy the extra cash

@Laurelend 2 ай бұрын

My nephews are like this, 20 and 24 they have no money and work under the table because they don't want to pay taxes, this way they can get foodstamps and healthcare free. Then they got cars with payments over 600.00 a month, plus high insurance from past tickets, one got a bmw and the other a mustang...come on! What's wrong with a jetta or corolla? Thats what everyone in their 20s had when I was that age, or the cheap suburu that looked like it fell off a mountain. I never thought someone was "better" because of a car.

@SocialSymone 2 ай бұрын

Oh my gosh not your nephew's getting got like that 😫 I hate to see it and I hate to hear about it but I know it happens far too often to the younger adults. And I understand them wanting to look a certain way to others but the debt that comes along with it is not worth it. I really hope that they are able to change their mindsets because staying that way for too long really can really can stop you from getting what you want in life. And I agree no one is better than anyone we are all human we all have flaws. And material items (even money) definitely doesn't make someone better or less. Character matters! 💕💕💕💕

@Laurelend 2 ай бұрын

@SocialSymone Thank you, I hope so. Sadly, social pressure to "fit in" seems much worse for the younger adults, you would think they would stop judging each other for their clothes and stuff, since they are all suffering. BUT they all have to have the same 250.00 pair of shoes? I don't think there's much thinking going on. I subscribed BTW, you make too much sense to ignore.

@raisinbranturtle5364 Ай бұрын

tbh they probably have better Healthcare coverage for ER or clinics than a lot of people who get it through their employers. sad reality.

@rad-pt6sy Ай бұрын

Report them, stop letting these creeps drain our society.

@mrsoisauce9017 22 күн бұрын

Nothing wrong with a Corolla. A Jetta on the other hand… your son might not be driving that around most of the time…

@adnaloy9025 2 ай бұрын

Another good vid, thanks for sharing! I had a friend who "owned" a bmw at $800 per month payments and owned no house or condo or anything and had bills out the wazoo. I tried explaining it to her and she got mad. (Notice I said "had" a friend). She told me she deserved that car. She bought the same car as another friend of hers but she did not share the interest rate with me. When she bought it, ahe tied a bow around it as a present to herself. 🤷🏾‍♀️ To this day, I still feel bad for her. How delusional!

@SocialSymone 2 ай бұрын

Thank you 🥰 and $800 IS WILD!!! That’s not even with insurance or anything else!? The BOW is wild too. Do you think the bow was to make it look like someone else bought it for her? 🤨 or for the picture? I am sorry that you were not able to get through to her. when you try to talk some people out of things like this they just get mad and sometimes even think you’re hating when you are really trying to help. smh

@adnaloy9025 8 күн бұрын

@@SocialSymone the bow was to make it a good Facebook Pic, in my opinion. Lol

@SwagPapi768 Ай бұрын

What never made sense to me is when people pay off their car and then turnaround and trade it in a few years later when it’s still in GREAT condition. Like, you spent all that money to pay it off just to give it back to a dealership and revert back to having a car payment again? INSANE.

@Snuffles559 2 ай бұрын

I remember a situation from 2020 when my coworker bought a new Dodge Charger base model. Her car payment was an astounding $950😮, which was a huge amount considering that we were only making $15 per hour at a small community bank. I was surprised by the high payment and told her that I barely had enough money left in my paycheck to cover my grocery expenses. This was back in 2020 when inflation was not a major issue yet. After she got her car, I would sometimes buy her lunch or we would share our lunches.😂

@SocialSymone 2 ай бұрын

The Dodge Chargers seem to always draw people in! 😫 Not $950!!! This is BEFORE all the other stuff like insurance. Maybe she had lots of money in her family or something but MORE THAN LIKELY not. That is rouuuugggghhhhh

@Michd0417 2 ай бұрын

😂 I don’t mean to laugh at her expense but that is wild

@MissShark8383 2 ай бұрын

That’s a house payment

@PolishedEdge-yu6yg Ай бұрын

$950 on a base model charger that’s not even a v8? I bet the dealer who closed that deal had steak and lobster with their family that night 😂

@applejellypucci Ай бұрын

She ruined her life.

@chickenapplepie3141 2 ай бұрын

"Treating yourself into broke-dom" had me cackling. Seriously such an important message. No one is telling you not to get something nice within your means every now and then but you know what's going on in your life. Lying to yourself about your financial status is hurting you; other people are not going to care. I'm thankful to have always lived in areas with serviceable public transit and I saved so much money with no car. Enough to invest in me and get a much better job. Now I work from home and could I get a car within my means, yes. But why would I when I've never personally needed one? I understand and support living in and being thankful for the current moment. Not "living like there's no tomorrow" cause if tomorrow comes then where does that leave you. Live life with a little responsibility and forethought.

@SocialSymone 2 ай бұрын

I agree with you 1000% But when people want what they want sometimes all of the truth goes out the window. You are winning out there with no Vehicle cost! And making the best decisions for yourself! 💕💕💕💕

@eliseg0001 2 ай бұрын

completely agree! People are so focused on flexing that they are willing to be stuck with a huge monthly payment for six years when they could buy a cheaper car/beater and spend that money on so many other things

@SocialSymone 2 ай бұрын

If only more people say it like you 💕💕💕💕

@omotayosatuyi252 2 ай бұрын

It's insanely stupid

@kenziefrances5365 Ай бұрын

They flexing on the uneducated, those who truly know what it takes to maintain all the “flashy” things knows it’s everything but a flex.

@BellaJoASMR Ай бұрын

Living in Atlanta I learned to ignore what nice cars people drive. I know SO many ppl in luxury vehicles who are broke as hell. The maintenance $$ on that shit is STOOPID.

@KaiMoni444 16 күн бұрын

Same. Everyone I know that has money and is comfortable within their finances, owns their home etc drives a modest vehicle and lives a normal lifestyle. Everyone that I know that drives a luxury vehicle is broke and struggling to pay their bills or they live with their parents or other family members. It’s mind blowing. I think it all comes down to maturity and responsibility. People are delusional and social media was the worst thing to ever happen to this generation. Regular people are trying to keep up with these social media influencers and completely lost touch of reality.

@jaiarojas5147 14 күн бұрын

That’s a real epidemic here

@Ellivation 2 ай бұрын

Subbed. You talking real life, I love it And I’m currently paying a $640 car note on a 2022 Toyota Corolla. The car is EXCELLENT but sheesh, if I would’ve been more responsible in my 20s, my interest wouldn’t be 14% right now. We need to get it through our generations head that it’s ok to live IN YOUR MEANS not above it!

@alwaysemilia 2 ай бұрын

I’m also a new subscriber and I LOVE her!! I listen to her to keep me on track and fill in the space that all the super consumerism nonsense could be filling up in my life. Much better this way

@cancel.lgbtq.6892 Ай бұрын

Bruh , my 2022 camry payment is $400 / month for 60 months ...

@kerrian4564 9 күн бұрын

14% 😭

@LEMATTOFFICIAL 2 ай бұрын

So glad I avoided this trap. I got only $700 left to pay off my 2015 and Im riding it until the wheels fall off! (Hopefully another 10yrs) Not getting another car unless I have to and until that happens saving tons of money for investments and emergencies until then. This is what too many people need to watch! You nailed it

@gabriellagondolfi6949 2 ай бұрын

I have a client that has 3 huge trucks, all financed. All three of them have notes ranging between $1,000 to $1,600 per month. Nuts!! That’s a mortgage payment!

@MakaykayLAMB 2 ай бұрын

My friend just bought a 2024 Chevy Malibu and his car note is over $750, with insurance that puts him at a stack for a fucking Chevy Malibu. It’s not even about the car, that is by far the dumbest shit I’ve ever heard in my life. But thanks for the reality check that everyone driving these cars is rich.

@eligreg99 Ай бұрын

Not a Chevy Malibu bro. Just sold my 2013 POS Malibu and bought a Jeep for 4k. I will ride it until I can’t repair it anymore and then buy another used car

@Shay416 27 күн бұрын

I nearly passed out when I heard the average car payment in the US is $650-$750 😮 keep in mind I grew up when expensive was $300bucks. It's insane rn. A car ain't worth the stress y'all

@merrytunes8697 22 күн бұрын

Paid off my brand new 2013 Malibu in 2019. $375 a month. I can’t imagine paying that much for a Malibu

@artisttjan 2 күн бұрын

When I got my car I thought, what kinda car can I buy that if I lost my job I would still be able to make that payment.

@willster1863 Ай бұрын

This is so so so refreshing seeing a young sister talking like that! Your money mentality is GOLDEN! Keep doing to the GREAT work! God Bless!

@Bekind94 Ай бұрын

I drive a 13 year old car. Toyota. Paid for. I will never buy a new car. Absolutely wasting money. Buy a year or two old car that is a certified used car with a warranty and save tons I live in a 1966 fixer upper. 2900 sq feet. Paid for. Eliminate your biggest expenses by scaling back your expectations and requirements and stack your cash. I worked in my credit score and saved a down payment. Used a homeowner buyer program to get started. Then sold my house in a high cost of living area and bought an old Fixer upper in a low cost of living. It’s not HGTV but my house is paid for now. I work remote.

@claudiasmith039 Ай бұрын

I'm in the same boat. It feels good. 😊

@jasontrees797 14 күн бұрын

I was caught in the trap in my early twenties. When I tell you I had credit card debt, student loan debt, car payment debt and no savings. Today I’m 29, paid off Honda, no more student loan debt, no credit card debt, 10K emergency fund in my high yield savings account. I had to become a new person mentally.

@CedarMountainsnow Ай бұрын

I'm in my 40s and I've never had a car payment in my entire life. Only owned 3 vehicles and they were all used, paid in full, and lasted me for several years because I got them checked out and did my research before purchasing. One of the best financial decisions I've made in my life. Another thing to consider, you don't actually own that car until it's paid off. So if anything happens, you could lose your transportation. Never had to worry about that.

@vvitch-mist20 2 ай бұрын

I turned 30 and broke. I'm gonna be in my mid 30s and broke. I'm not gonna pretend I'm not broke. I think the thing is that you can't get something nice within your price point. Sometimes the "nicest thing" is the most expensive coffee and cheese at the grocery store.

@SocialSymone 2 ай бұрын

EXACTLY! Nothing wrong with being broke and acting Broke. I feel many are ashamed but you can change alot in a year or overtime you can gain more resources. Shopping within your price-range is wise. I wish some people didn't just straight up ignore what they can really afford and put themselves into big debt while doing it. I wish you all the success! 💜

@stocksxbondage Ай бұрын

Nothing wrong with that. With just a few hundred a month, you can end up a millionaire by retirement. Age 30 is young. You have over 3 decades of compound interest before retirement age.

@vvitch-mist20 Ай бұрын

@@stocksxbondage I get what this was supposed to do and I appreciate it, but I'm literally cheering my newly forming crows feet lol. I'm gonna have fun regardless lol.

@rampageblizzard 18 күн бұрын

Cars in general are a money pit because of the maintenance required to keep it safe and running. But the biggest trap is getting a car loan out on a car that can’t fit in your budget.

@Feed_The_Kids 27 күн бұрын

I sold cara for 4 years in cali. You would be SHOCKED how many people accepted 28% interest rates. Even after i recommended they shouldnt!

@DMBRRN 15 күн бұрын

I drive a 2006 Acura TSX yes it’s very old but I love driving this thing, one of the best cars I’ve ever owned. I’m 21 years old so money is short for me but yet I still keep up with the maintenance and the car runs like a champ. It’s not a bad thing owning older cars, you just gotta do your research and find a good one and you’ll be saving a lot of money on the long run.

@rosettagrey2851 2 ай бұрын

Spot on again. I don't have a car because I don't need it, I live in a walkable city with public transit. I understand if people truly need it but I have some of them around me constantly selling and buying a newer model while trying to make ends meet. Maybe there is a math in there I don't get but the amount of mental real estate it requires seems exhausting.

@SocialSymone 2 ай бұрын

Thank you! And I agree, I can’t figure it out either! Cars make some people forget they have to go work for it or something. And you are really winning living in a walkable city! 🥳 That’s how you really cut back and rack up!

@PrettyPrincess9609 2 ай бұрын

Back in college, I worked a job and saved up to buy my first car and that was the best decision I made. My first car I brought in 2017 was a 2014 Kia Rio ( I graduated college in 2017 as well ) but unfortunately I let my brother borrow my car and he totaled it. I saved up money to buy my second car again and in 2019 I got a 2015 Kia Forte. It’s reliable and in great condition. I also don’t have a car payment. I only pay car insurance. My brother, on the other hand, decided to buy an old 2009 BMW. His car is constantly breaking down and they ripped him off with his car payments. He is paying $500 every month for his car payments and that’s not even including car insurance. I told him he should save up to buy a Kia like I did and get rid of his old BMW but he won’t listen. Now he is stuck with a car that constantly breaks down and a high car payment.

@STScott-qo4pw Ай бұрын

Brand name is what's keeping that BMW.

@Shay416 27 күн бұрын

😂 Reminds me of my Lil cousin. Never had a stable job but "bought" a Q5. Beautiful heavy weight in the driveway because he can't afford to fix it. Smh. He had fun flexing it while it lasted.

@Jamellii 10 күн бұрын

if it's not constantly breaking down is it even a BMW?

@K_Diggy Ай бұрын

“Most people don’t want to be rich bc that takes responsibility. Most people just want to spend a million dollars” - Someone online.

@ryanday3583 Ай бұрын

The big brain move is a brand new motorcycle for $10,000 gets 70 mpg cheap insurance and registration.

@tired690 8 күн бұрын

Until you get flattened by a truck.

@Risse14 17 күн бұрын

This video is a life saver for me. I needed this message. I'm actually in dire need of new car but this video reminds me to be patient. Its better than being upside down.

@slayfaee 2 ай бұрын

Missed living somewhere with reliable public transit, was able to live in Seattle on my own bc of how much I saved. Now it’s more expensive to live in yeehaw Midwest bc a car is a must out here. Even with perf credit the lowest interest for me is 7.5% 😭

@SocialSymone 2 ай бұрын

If you can avoid the 7.5 al together then it's not too bad paying cash at least. But not having the public transportation now I'm sure makes that way harder To save. It is really helpful if people are able to take advantage of It as a resource😔 I hope you are able to find something that works well for you where you currently live.

@AminahMight 2 ай бұрын

Also in the Midwest, Kansas City. I wish we had better public transit.

@chocnass 2 ай бұрын

As a Flint native, thanks for including Eric Mays 🙏🏽 😂😂

@TheDancerGemini 2 ай бұрын

Keep it up! So many people need to hear this raw and honest message! You are helping so many people. Sending love from Houston! ✨💕

@NomadicNowhere Ай бұрын

I’ve been on both sides of this. I purchased a 2013 beetle convertible and pulled out a $17k loan for it. The car DIED on me. Despite having full coverage and even gap insurance, nothing covers mechanical failure. Luckily it was already almost paid off. I had to use my emergency savings to pay that off, and pay for a 2007 Honda fit in full. It runs great on 220k miles! I even detailed the inside and threw on some car seat covers and decor to make it more personable

@mrsoisauce9017 22 күн бұрын

No offense my guy, but even for a car as cheap as a Beetle, buying a VW as a first is pretty fucking stupid. Look into reliability reports before you go deciding on a car. Really that’s one of the main driving forces behind me wanting a Ford Fiesta ST as a first car: it’s reliable (as long as you get the manual; the CVT in that thing is dogwater)

@omostim2385 19 күн бұрын

VWs have screwed a lot of people over. They market themselves like regular Honda, Toyota adjacent cars for people who want something a little different but VWs are just cheaper Audis. And Audis are built like they hate mechanics or any customer that wants to keep their car on the road

@mrsoisauce9017 19 күн бұрын

@@omostim2385 at least Audi has luxury and craftsmanship going for them. VW doesn’t even have that

@omostim2385 9 күн бұрын

@@mrsoisauce9017 Right. Same issues but nothing nice to look at or feel

@eternalhonesty 2 ай бұрын

Me with my paid off Toyota 😮‍💨

@bracedgod4505 24 күн бұрын

I got a Lexus. An old entry-level ES330 all at once with the insurance money after someone totaled my paid off car. Best car I’ve driven though. Leather seats and a smooth ride with Toyota parts/maintenance👌🏼

@afropuffs5228 2 ай бұрын

This conversation does need to be had ✨

@TJLovt 2 ай бұрын

I haven’t watched the video but shopping cheap is such a blessing I believe. Specifically grocery shopping.

@SocialSymone 2 ай бұрын

I agree 💜

@SeparateFarms1 2 ай бұрын

Big Tymers had us getting our roll on 😂😂😂😂 broke and all.

@SocialSymone 2 ай бұрын

This is one TOOK ME OUT 😂 I blame them now cause they were the original “number one stunnas” 💀

@sleepychris3095 Ай бұрын

😂😂😂😂

@SeparateFarms1 Ай бұрын

@@SocialSymone 😂😂😂😂 fr! We had the 4x tshirts and all knowing after school it's back to the hood 😆.

@jojojonmax 21 күн бұрын

I felt that. You're speaking straight facts! Bought my used car for 5000, 5 years ago. I'm definitely getting my money worth and using my money to work for me while I work. Keep pushing that knowledge.

@mbooks5777 2 ай бұрын

The rich ruleth over the poor, and the borrower is servant to the lender. Proverb 22 7

@blaackberry 20 күн бұрын

If your car is the only thing keeping you broke, youre in a much better place than A LOT of people... They dont repossess kids 🤣🤣🤣

@carmenflores8528 2 ай бұрын

I drove a 1996 Honda Accord for 5 years and got rid of it last year. It was costing me $1k a month on maintenance and it would never be truly fixed because I didn’t have enough money to fix everything. The moment I finally got rid it, all the stressed I had immediately went away. And I’ve been able to finally save money. I’m now much happier and wealthier taking public transport and the occasional Lyft/Uber rides. I don’t plan on buying a car for at least a year. Since I’m prioritizing building up my emergency fund and fixing my spending habits. Once I feel ready for a car I will only buy from an owner and have the money already saved up for it. Don’t fall for these tricks from the dealerships ripping you off and trying to impress broke people.

@SocialSymone 2 ай бұрын

Oh my! If you don't mind me asking why was the maintenance on it $1000 a month? None the less it is such a blessing that you do not have to deal with that anymore! 🙌 I am happy for you because I can only imagine the stress. Though you may have dealt with that it seems that you have the mindset to be very successful in the future because you are willing to delay gratification for what you want by saving and fixing your spending habits. So this was a minor setback for a major comeback! 💕💕💕💕 And yes you are so right it's not worth it to get ripped off to impress broke people!

@carmenflores8528 2 ай бұрын

@@SocialSymone Things adding up since I didn’t have enough money at the time to properly fix it at the moment. Instead I was only able to do temporarily fixes. My driver’s window got stuck moving back up. We temporarily pulled the window up since it got stuck but that later down the road caused my driver’s door to not open when getting out of the car. Car battery failing on me a few times. Back tires still needed to be replaced, behind on oil changes, had to replace the front brakes again and it still needed the back brakes and new axles. On top still paying for gas and insurance. After fixing the brakes, my car started not wanting to turn on again. So I decided to get rid of it. It was a lot for me to manage since I live on my own and rely on myself finically. But boy! The relief and joy I felt after getting rid of that headache! It was my first car and I didn’t properly ensure I had even savings for after I bought the car. I rushed into it so that’s way now I’m taking my time. Until I met my savings goal where I’m comfortable is when I’ll buy a car again.

@thadlm2698 2 ай бұрын

A $1000 a month just on maintenance…🤔.

@theprofessor2817 20 күн бұрын

@@carmenflores8528Sounds like whoever sold you the vehicle was dishonest about its state. 5 years ago, I purchased a 2012 Mazda 3 for 2700$. I only had to pay about 1500$ in maintenance. It's been running great since.

@carmenflores8528 20 күн бұрын

@@theprofessor2817 We got the car from a family friend for super cheap. I was 19 at the time and didn’t bother asking about the car’s conditions I just trusted my dad’s word for it. He said all it needed was a new AC… Now I know better to be more informed and bring a mechanic with me to check out the car before purchasing.

@AyoAde777 2 ай бұрын

Treat yourself to nice tub of ice cream, treat yourself to that new movie that just came out, treat yourself to a nice dinner. Above all, treat yourself responsibly at all times. Paying rent or buying a house is already expensive. You'll never be able to buy a house if you choose to drive around in a car that costs the same or even more a house downpayment. A car can easily be repo'd but it often takes months, sometimes years before a house can be foreclosed. A flashy car won't keep your belly filled, clothe or shelter you. Showing off or trying to keep up with the Jones who can't even keep up with their own bills is an eternal black hole of financial destruction. Having a working car is a need, having a flashy car is a want. People need to know the difference and practice financial modesty.

@saintgregory9372 2 ай бұрын

when i tell you, you preached a whole sermon!! 🙌🏼👏🏼👏🏼!! this is truly inspiring and alot of people need to hear this !!!

@malvavisco10 Ай бұрын

I make only about $22/hr and I choose not to have a car. I also have a remote job, so I don’t need to go somewhere every day anyway. Through my work, I can get a discount added-value bus pass - I pay $10 out of my paycheck, and $30 is added to my pass. It does limit where I can go. My city has a decent, not great, public transpo system. If I go get groceries, I have to just buy what I can carry. It saves me so much money though not having a car, it’s the best way for me.

@TR-qq2df 2 ай бұрын

New subbie! I love this video. Nothing but facts spoken. I’ve had my car for 10 years paid it off in 4. I’m so confused when I have conversations with people about money. Like, “ you bought what.. for how much? “ 10:32 you ain’t got it like that.

@nwj03a 7 күн бұрын

My wife and I make enough money that we don’t worry about money. We make enough that a financial planner has been discussed. I drive a 15 year old car, my wife drives a much newer, but paid off, 5 year old car (kid mobile). She shops at goodwill, we upgrade our phones when they die, we get our gas at Costco, I never got a PS5 (PS4 still works), etc. Living below your means doesn’t require massive sacrifice, just thinking about what’s important. I spend less than an hour a day in my car, looking cool for that time isn’t important… my kids having a college fund is.

@barbiekaitie6773 29 күн бұрын

Girl I subscribed some time ago but i've been avoiding watching you content because I know I make really bad finacial decisions. Watching your videos really made me have a reality check. Thanks girl

@mrcorncakez2410 2 ай бұрын

Payed $4,000 for a 2007 Prius with around 200,000 miles (had a new hybrid battery just installed, nice rims, and some other upgrades). Have put on 40,000ish miles on it, keep its maintenance up to date, and I plan on driving that thing into the ground. The fact that so many people decide to buy the newest and hottest car (while also paying the absurd dealership mark ups, for some reason) baffles my mind. I’d like to think I’m well off financially and could easily finance a nicer car, but there’s no need to. All I care about is reliability to get from point A to point B. Never was that into cars, but I can appreciate a nice car. But you paying $859.99 a month with 6.84 APR to show off your hellcat? Nah, that’s just silly.

@armandoweckmann5699 Ай бұрын

I learned this the hard way, but I learned quickly! Fast forward, im 42 now with mortgage paid off vehicles paid off. Huge emergency fund and investment portfolio growing 👏 ... I drive a 2018 camry 😊

@BeyondTheScrubsJourney 6 күн бұрын

I am broke and I am proud 😂❤❤❤ driving an old honda. Honestly I am still not financially there but I am in a better place than before. I used to spend so much on stuff!!!! That is why I love watching these videos. Now I have a backdoor Roth-IRA/contributing to 401k. I have a house and 2 condos overseas for future air bnb rentals. Watching these kinds of videos tames my spending habits. This is so therapeutic for me. I still have credit cards which I pay more than minimum. I am still paying student loans. I just want to echo it out there because I know I am not alone. ❤❤❤

@TRUMPisOPPA 9 күн бұрын

Keep in mind that owning a car is a absolute necessity in the United States. Even for those 16 or 18yr olds. Maybe their parents are unavailable. Got to get to work, school, the grocery store. In many parts of the US, if you don’t have a car you’ll “die” have to bum rides off people or move to a more expensive area that you probably can’t afford anyway. I’m not referring to the BMW and Cadillacs but cars in general.

@JadeAngelina 2 ай бұрын

you balance education and entertainment/humor so well❤

@SocialSymone 2 ай бұрын

I really appreciate that! It’s hard to keep people informed because most people get bored with statistics, articles and etc. Which I understand, but I’ve been trying keep it fun too..So this is a HUGE compliment to me that you received a good mix of both! 💕💕💕💕

@pizzadogma 2 ай бұрын

I live in the suburbs with limited public transportation, but will be moving to a city where there is better buses/trains. i initially thought about buying a car while living in the suburbs but considering how expensive they are and the insurances added on, I decided against it. I am glad I don't have a car now lol

@SocialSymone 2 ай бұрын

Thats a great way to save money, very wise choice 🥳

@emilychen3839 12 күн бұрын

I drive a Hyundai Palisade and it’s a wonderful SUV for my family. It’s beautiful and bought it for $38k. It’s really affordable and have had ZERO issues with it even at 50k miles. It’ll be paid off in 3 years and I can’t wait

@cocochats 2 ай бұрын

Your videos are helping me so much!

@ms.v3307 2 ай бұрын

❤ the info! New subscriber!

@SocialSymone 2 ай бұрын

It's great great to have you here and thank you so much 💕💕💕💕

@tapersaud Ай бұрын

I have had 0 car payments for 3 years and don't think I can go back lol

@TVBjak 11 күн бұрын

This is a hard truth: you don’t deserve everything you want. There are things that you should not get no matter how hard you work for them. And having things isn’t a reflection of who you are.

@Ang417 11 күн бұрын

I have a 2009 Toyota Corolla I love it!! No issues and everything works!! I'm not getting a newer car until I get more raises. I make decent money now but I'm waiting. You don't need a new car, you get a decent used car.

@TyWerks 2 ай бұрын

I just restarted the wheel and got a tesla. I regret it and although not broke the money could have been utilized better

@reenakemp9132 2 ай бұрын

You could gave got a really nice Camry or Sentra for far less. My mom just got a 2023 Nissan Sentra a few months back and it's just as technically advanced as a Tesla, trust me.

@TyWerks 2 ай бұрын

@@reenakemp9132 na I agree with you but I don't think it has everything Tesla has (sentry mode, Netflix, video games for kids). Also Tesla requires little maintenance no oil change, transmission flush etc

@reenakemp9132 2 ай бұрын

@TyWerks It has Netflix. Video games for kids, well, she's 74, she doesn't care about that. She paid cash for it at the dealership, so got 3 years of oil changes. But yeah, gas is an expense. But the insurance cost on it is lower than a Tesla that makes it kind of a wash. I'm not knocking the Tesla by the way. I like them. But all the new model Japanese cars have an awful lot of the same features. And also, awesome job on making it in life and being able to afford a Tesla. That's great.

@TyWerks 2 ай бұрын

@@reenakemp9132 That's dope she def got a good deal then and I'm not knocking it at all because I wish I didn't purchase and restart again. Thanks for that as well the Tesla was definitely a gift to myself

@BrkDownMedia 2 ай бұрын

Hi, automotive professional here. So the issue isn’t the car itself, it’s wanting to have it all without sacrificing something in return. I study this stuff all day, and it typically boils down to cultural status quo. The real problem is that most people don’t understand you only have so much financial wiggle room before it drags you down. Choosing a value system has helped me build wealth without giving up the things I enjoy while getting rid of the things I don’t care for.

@Daniel-tx2vt Ай бұрын

Yeah, buying a super nice car, but also taking expensive vacations in business class, and designer clothes all financed with credit card is the problem most people have. Me personally, I would be miserable in the average Toyota/Honda. I own a BMW M4, i don’t go on any fancy vacations or buy designer, eat out etc. my ideal vacation is fill up my m4’s tank and drive some windy roads. I still have large investments and emergency funding and no cc debt.

@BrkDownMedia Ай бұрын

@@Daniel-tx2vt You’re absolutely correct. You understand your values and that’s what keeps you financially sound.

@mrsoisauce9017 22 күн бұрын

Kind of unrelated, but I have a question if you don’t mind answering. I’m a car guy looking at getting a used car in the future. I was thinking something along the lines of a 2015 Ford Fiesta ST. It’s reliable (as long as you get the manual), it’s fun to drive, it’s practical and it’s efficient by my understanding. Only problem is that the better maintained examples that haven’t been absolutely trashed tend to go for around $10k-$15k. Is this a good idea, or are there better options out there?

@mrsoisauce9017 22 күн бұрын

@@Daniel-tx2vtso you’re a car guy, I assume?

@2stayweird 4 күн бұрын

The algorithm knew I needed this; I sold my car in 2020 when I moved to Washington DC, and lately I've been like, "I miss having a car... someone talk me out of buying one." 🤣

@ironmountain7907 Ай бұрын

Thank you for this video, you quite literally saved me from making a really poor financial decision!

@mvd_01 2 ай бұрын

You are the big sister that we need ❤

@idakt 2 ай бұрын

HACK: If you want a nice luxury car look for a used one that's already bottomed out in depreciation value. You can get SO MUCH CAR for the money and in many cases you'll actually have a better car than someone with a brand new vehicle. Especially if you take care of it and keep it clean. Good ones to look for: Old Lexus, Buick, Lincoln, Acura, even some older BMWs if they were maintained well. Also a lot of those older Hyundai luxury models like the 2nd generation Genesis or Equus are going for under $10k and got more bells and whistles than a Rolls Royce.

@imitationpitaya Ай бұрын

Probably stick with Lexus in that case. Depreciation isn’t the only factor, but also maintenance and repair costs.

@arh1234 Ай бұрын

MaInTeNaNcE... always $$$ with fancy brands. Parts are also less likely to be in stock.

@stocksxbondage Ай бұрын

I saved $100 a month for maintenance on my 10yr old Lexus. My sink fund is always positive so this covers everything, including tires. People don’t know how cheap these Japanese cars really are until you try it.

@idakt Ай бұрын

@@stocksxbondage agreed, Lexus is probably where I’m aiming next. My Benz was OLD, back when they used to make em right 😂

@stocksxbondage Ай бұрын

@@idakt right there with you. My last car was a 00’ SL500. Before that had a ‘94 S420. They’re awesome cars! But full on money pits as you’d expect. After paying for Benz maintenance, Lexus is going to shock you! It’ll be hard to go back to the German cars.

@denzelmotuba5336 8 күн бұрын

Bought my in full straight cash. Best decision I ever made in life. The freedom and the amount of money I'm saving is crazy. Plan on moving out of my folks crib in the next year to year & a half

@kimberlys347 17 күн бұрын

Thank you!!!! I needed to hear this kick in the butt conversation. I will keep driving my paid off 2016 car

@ItHappens473 29 күн бұрын

I had a 16% APR ($664/mo+ins) after trading a car in back in 2021 and I voluntarily repo’d my car last year, I could afford it then and was sold on the fact that I could refinance, nobody would approve me to refi, I would either get denied or they required a HUGE down payment b/c it was such a high APR and I was so upside down that they figured it was too risky to refinance it. ever since I gave that car up, I settled the loan in full and have been so financially set free ever since. Next car will be straight cash.

@rashodmasters4299 20 күн бұрын

What happened after you repo'd? Did they cut the payments down until you paid it off in full?

@ItHappens473 20 күн бұрын

@@rashodmasters4299 after it was repo’d they sold it in auction for 11k and then they forgave 80% of what was left, leaving me w/ only 3k to settle, they put me on a payment plan that had lower monthly payments, that would have took me 13 months to pay off, but I decided to pay it off within 6 months

@camillesantiago636 2 ай бұрын

Ive been driving honda HRv 2018 it’s still amazing and Good

@SocialSymone 2 ай бұрын

Hondas are great cars too 💕💕💕

@user-ej7zv5ff4r 7 күн бұрын

I will need to buy a car soon. I already have the same mindset as you. But it's still so great to hear from someone else in a world of appearances! Thank you

@Kaha-ow1xt Ай бұрын

Thanks for this, so impressive to bring all this together. I saw all this when I worked as a financial counsellor. Other elements are the broke show-offs with the fancy cars would often skip insurance (breaching the loan terms), have an accident they were on the hook for, then have the loan amount become due in full because the finance company realised they breached the terms and changed their risk evaluation. Not sure if it works the same way in other countries (I'm in Australia) but imagine the stress