He had an SUV (I think a 2015) but since he got into a car accident, it got totaled and he needed a new vehicle. He ended up getting a 2020 four door sports car (he has a daughter) and one day when we were driving together getting gas in my car the subject about insurance came up. I asked him since I’m curious how much a 2020 vehicle would be and he said he pays $900 for insurance alone (not including his car note but I was too afraid to ask). I was shocked since I knew it would be high but not almost 1k.
I’m not trying to judge but this is extremely stupid, especially since he has a daughter to financially support. He still lives at home with his parents and could easily rent an apartment for the cost of his auto insurance but he seems to prefer an immediate pretense of wealth than actually being a financially independent adult. He makes around 65k a year so he could afford to buy an average vehicle and rent or possibly own but he’s wasteful with his money. He simply buys things he wants since he doesn’t have any financial obligations besides paying for his wants. His parents are enabling him since if it were me, I would’ve given my kid (not that I have one) an ultimatum by 33 - “you either buy that new car and live in since you’re so rich or you save that money and buy your own place”. He’s half Hispanic so family is huge to them. His mother who is the Hispanic one babies him and hasn’t put her foot down to kick him out but his dad has been wanting him to move out for years. They get into arguments often about his lack of ambition and being too old to live at home but his mom thinks he’s “helping” around the house since they’re older.
When I told him that his insurance was insane his response was “it’s a sports car...what did you think? You gotta fake it until you make it, right?”. Him and I are on different pages financially. I make about 20k less than him but my car is paid off, I have my own apartment, I’m debt-free, and I live below my means. I can’t afford to buy every want that I have and that’s ok. I wish he were on the same page since he has thousands in debt. He even has student loans that aren’t paid off since he didn’t finish college.
Him and the dealerships are the problem. How can I get him on board with being more responsible with money?
November 29, 2020 at 11:56PM
