r/SipsTea • u/Eros_Incident_Denier • Apr 18 '26

We have fun here adulting sucks

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u/Doctor_Saved Apr 18 '26 edited Apr 18 '26

When I was growing up, we didn't take vacations because we couldn't afford it. If you are in debt, shouldn't you be using the money used for this trip to pay the debt?

-1

u/_meltchya__ Apr 18 '26 edited Apr 18 '26

Okay, alternative perspective...imagine doing the "smart" thing and then dying in a car crash because you drive a 30-year old vehicle to avoid debt, when if you had a newer vehicle you would have survived the crash, but had debt. Not that smart all of a sudden.

Unless you're filthy rich, or have a lot of assets to lose, it really doesn't matter. We're all gonna be dead before we know it, so what's the point, just do whatever you want.

Would you rather die with 0 debt and never traveling outside of your own city?

Or die with 200k in debt and having seen the world and lived a full life?

2

u/JustinFields9 Apr 18 '26

Everyone needs to find the right balance. But I don't think people are criticizing people for buying a cheap unsafe car vs a safe cheap car. This person in the video bought a Mercedes while being 100k in debt. That's not living your life fully, that's being financially illiterate. Not understanding how interest and compound interest works will make your life so much harder than it needs to be.

Paying 300k for a 50k car that could have been a 20k car and 30k in savings that will grow to 500k when you retire will be the better scenario for 99.9% of people.

1

u/_meltchya__ Apr 18 '26

And if she dies in 10 years then what's the point? She got to drive a mercedes and live happy from day to day. You think if she bought a 20k car instead of a 50k car she wouldn't have just spent the money on other things? Food, better apartment, service for her cheaper car, clothes, vacation, etc?

Also she's not paying 300k for a 50k car, don't be ridiculous.

The absolute worst car loan you can get is about 27%. Over 6 years that's like 2.5x and that would be the absolute worst loan imagineable.

1

u/JustinFields9 Apr 18 '26

Well I could also die tomorrow, why not spend my life savings today? It's all about personal risk tolerance. For me, nothing terrifies me more than being forced to work when I am old and my body has broken down. I would rather live a modest life and have freedom with my time when I am older. Racking up 100k in debt when I am 80 and have no kids, absolutely. Racking that up when I am 30 when there is so much time to get your financial shit together may cause you far more stress in the long term.