Sal

I'm a barber. I'm waiting to go into work after this. But, uh, I called you today, um, cause, uh, last June, um, I was looking for a car vehicle. Um, I kind of get approved for a car for credit. Um, I'm 23 years old. I've been through debt like twice, like in $10,000 worth. And I've read your book, the snowball method.

I got out of like a 10,000 debt twice and then I saved my money a little bit for a down payment for a vehicle. I have a son, I have a fiance. I live with my fiance's mom at her house.

My, my question is I got a loan from my grandpa for like $35,000 for a Jeep grand Cherokee. Um, His folks co-signed for me, but he didn't want the title in his name, so he just paid it off. So I made an arrangement with him to pay him, and he wanted 5% interest. Okay, sounds good, whatever. I paid $687 a month to him with the interest. The principal is like $602.

Because I feel like I'm throwing money. I realize, okay, this is not an asset. It's a liability. I make a decent amount of money where it's like I'm good at saving, but then I save more. I want to get my own house, my own property with my wife.

I know.

I did.

Yeah. And my family's against me because I said, like, okay, I might as well go to CarMax, sell it. All right, I'll take $8,000 loss. That's fine. I will pay my grandpa back in a few months. Then I'm out of that debt, right? Yeah. And then, whatever, I'll carpool my wife or I'll buy a beater. Buy a beater.

No, no, no. My father.

Right, right.

No, it's not my fiancée.

Correct.