Bad financial decisions

[Murdoughnut]

My kid keeps asking me about buying a plane. The same kid bleeding me dry financially for other things.

 

[SteveC]

My kid keeps asking me about buying a plane. The same kid bleeding me dry financially for other things.

When I was turning 16 I had this conversation with my dad (paraphrased):

“Dad, I think I should have a car”
“OK, you have my permission.”
“Well, how much can I spend?”
“Whatever you want, it’s your money.”
“Uh, I don’t have enough money for a car.”
“I guess that limits your options then, doesn’t it?”

A few months later I spent $200 of my own hard earned money on my first car.

 

[Ian_J]

When I was turning 16 I had this conversation with my dad (paraphrased):

“Dad, I think I should have a car”
“OK, you have my permission.”
“Well, how much can I spend?”
“Whatever you want, it’s your money.”
“Uh, I don’t have enough money for a car.”
“I guess that limits your options then, doesn’t it?”

A few months later I spent $200 of my own hard earned money on my first car.

Mine…

“Dad, I think I should have a car”
“I have an extra one. I’ll sell it to you for $7,000.”
“I don’t have $7,000”
“you can make payments. It’ll be $x.xx (don’t remember) a month.”
“Great!”

Two months later.

“Dad, I can’t afford that payment. Can I pay less?”
“No, a deal’s a deal. But I can buy it back from you.”
“Okay, for how much.”
“For exactly what you owe on it.”

So he made a few hundred on the deal. I lost a few hundred and still had no car. But I guess I learned a lesson.

 

[CoffeeIcePapers]

When I was turning 16 I had this conversation with my dad (paraphrased):

“Dad, I think I should have a car”
“OK, you have my permission.”
“Well, how much can I spend?”
“Whatever you want, it’s your money.”
“Uh, I don’t have enough money for a car.”
“I guess that limits your options then, doesn’t it?”

A few months later I spent $200 of my own hard earned money on my first car.

I like his style.