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Benzinga
Benzinga
Business
Adrian Volenik

'I Can Afford This, But It Takes Half My Paycheck,' Says A 22-Year-Old Who Calls What He Did His 'Worst Financial Decision'

Insurance Reddit
Wuhan.china-may,2021:,Front,Of,Nio,Electric,Car,Store.,Customers,In

A 22-year-old Reddit user recently sparked a conversation on r/personalfinance after sharing a tough lesson in car ownership costs. The young man said he financed a 2018 car for $15,000 and now pays $450 a month on the loan. But it’s the insurance bill that’s breaking him: $444 a month. Combined, that’s nearly $900 a month on a single vehicle.

High Costs, Low Flexibility

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