Investing in a recession, getting a car loan at 18 & the power of $5 (Investing Q&A)
Australian Finance Podcast
Making Sound Financial Choices in Youth: The Pitfalls of a High-Interest Car Loan
Exploring the costly consequences of a risky financial decision by taking out a $15,000 car loan at 18 with an 11% interest rate, selling the vehicle for half its value, and facing the burden of accumulated expenses. Advising against hasty financial moves, the chapter underscores the importance of saving, informed decision-making, and the long-term implications of debt, particularly when acquiring assets like a car at a young age.
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