Oops… I managed to get myself into debt at 19 years old, and a lot of it. Let's talk about that. Instagram: @BOWLES LIVE Ecom Training (End Of This Month): https://www.ecommseason.com/qa ?SUBSCRIBE To The Channel ► http://bit.ly/2n37hkL
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Snapchat ► hayden123bowles ___________________________________________________________________________ I have $39,208 in debt at 19 years old… By just 19 years old, I have managed to accumulate around $40,000 worth of debt that is NOT student loans. How did I do this, was it smart and what is my plan to get out of it… Well, this debt is actually a car loan, and a very good one. I financed a car for $56,000-ish (give or take) about 16 months ago. I didn't finance it because I couldn't afford it, out was because it was an excellent way to build my credit and I got an amazing loan rate, therefor it made sense. My interest rate is 2.99% which is very good on a standard loan for a vehicle, for a 62 month term. I have no intention of paying off the car as of right now unless I were to sell it, which I don't plan on during the financing term. All 3 of my other cars I purchased in cash, each of those being anywhere from 2-7x as expensive. I purchased those as assets to move my money into, not simply to enjoy as a car and go through the whole process of financing. I got in quick (which I explain in this video), and I want to be able to get out just a quick. That's why I bought a Lamborghini Huracan in cash at 18 years old, along with a few other cars. Having debt is a very mis-informed topic that we were not taught about in school. It's viewed as "bad", which is not, but then you are encouraged to take on student loans (which is one of the worst types of debts). It makes no sense. Become financially literate before you play with money, otherwise you are going to get burned. I hope this helped, leave a LIKE if you enjoyed!
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___________________________________________________________________________ *Disclaimer* I am not in any way a certified financial advisor, nor do I pretend to be one. Any information or advice I give you on any social media platform is simply my opinion based my own own experience and research. There is no guarantee on anything due to the fact that there are many variables that play a factor in your success. Do your own research, do the work and take everything as an opinion.
I am $39,208 in debt at 19 years old…