🎂  Age?

34

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🌎  Location?

Frankfurt

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🫥  Source ?

Anonymous

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💸  Debt balance?

£31,800

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👂 What will you be sharing?

Spending regret story

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📖  What would you like to share?

"Currently my only debt is a car loan with a 5% APR. I regret purchasing it with my husband in Feb of this year. We both sold our cars and decided to get this one since we are living abroad now and only need one car.

Even still I wish that we bought a used car at £20,000. We sold our condo and used £10,000 to pay down the loan from £42k down to £32k.  

Lesson learned. Go with your gut. Even if it’s not necessarily a “bad” deal. It doesn’t mean it’s the right decision for you.

I know the car is a rare car, low mileage, high resell value, but I don’t care. I would rather have a more affordable car. My goal is to sell it here in Germany without losing any value and buy a cheaper used car."

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❓ What happened for you to be in your current debt situation?

"I'm in this situation because I followed my husband’s lead and didn’t listen to my gut."