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Ok_Loquat_8087 OP t1_j2ffn3a wrote

Reply to comment by ku91fanatic in I can no longer afford my car by Ok_Loquat_8087

Well before everything went bad I felt it would be the best option to sell it. I had an extra couple thousand and could pay the difference that was still owed. Truthfully I wish I would have listened to my gut but I didn't. So it is something that I had been thinking about for a long time now

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ku91fanatic t1_j2fi2h7 wrote

You don't have to answer this publicly but if I were in your shoes, here are the tough questions I would be asking myself:

Do I have other things I will need to purchase through debt (most notably a home) in the next few years? Is the car the only problem or is full bankruptcy a better LONG TERM solution? What other controllable expenses (credit card payments, non-essential spending, subscriptions, etc) do I need to get under control? What does my income growth look like for the next few years and how do I change that if it isn't growing? How much has to change for me to be able to consistently save money every month?

I also think that everyone should read the book The Richest Man in Babylon . It is a super easy read but teaches some great fundamentals on which to build your financial future.

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