Finances

In December 2019 I financed a brand new Charger Scat Pack. This was right before inflation really took off so they were cheaper than they are now. Sticker price was only 36k. After the dealer added a warranty, “paint protection plan”, dealer fees, taxes, etc, I ended up financing 51k!

At the time I didn’t know ANYTHING about cars, the only reason I even bought the car was because my v6 2011 camaro that was paid off started having transmission trouble. Replaced it twice and it still wasn’t driving properly, so I bought the scat pack.

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Why I’ve decided to pay off my $55k balance as soon as possible. No 10-20 years of payments. No more hoping “the government” will come through for me.

I graduated from grad school with $105K in student loans. Say what you will about Dave Ramsey. He is right about paying off debt fast. I was only in the workforce for a couple years before the pandemic hit. During that time, I was binging Dave Ramsey videos and realized he’s right about debt. Decided to pay as much as possible toward my student loans. I managed to get them down to $55k in about 2 years. My income was about $65k fresh out of school.

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So I’ve been looking to buy a Porsche 718 Cayman Base, found a 2020 model with 18k miles on it with a price tag of 67k. Porsche CPO and such.

I grew up in a not so well off family and so when I ever ask them for advice there answers are usually along the lines of “no it costs too much blablabla”.

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I went to dental school and did a residency. I have about $200k of debt from college, $500k from dental school and about $300k from my residency.

I make $105,000 / year. I don’t have any other loans. My rent is $900/month (with utilities). Food costs about $500 / month.

I have a car and that costs about $400/month for the insurance and to lease it from the dealer. I should have mentioned this earlier but I am NOT a full time endodontist.

Dental School Tuition at New York University:

You get married and then it’s living happily ever after, right? Well…

A few months after we were married, my wife came home from Target with a couple of large shopping bags.

“What did you buy this time?!”

No, I didn’t say that out loud. I’m not that stupid.

But the thought did run through my mind, and it concerned me.

Why was I so upset over a trip to Target? I love Allison! I trust her, and I know she’s responsible.

She didn’t come home with a new car. She didn’t gamble away all our savings. So what’s the big deal?

Then it hit me.

[Read more…] about How My Wife and I Never Fight Over Money