'I Can Afford This, But It Takes Half My Paycheck,' Says A 22-Year-Old Who Calls What He Did His 'Worst Financial Decision'

Core Insights - A 22-year-old Reddit user shared his experience with high car ownership costs, revealing a monthly payment of $450 for a financed car and an insurance bill of $444, totaling nearly $900 monthly [1][2] Financial Strain - The user earns $20 per hour and lives at home to avoid rent, indicating that car expenses consume half of his paycheck, which he described as "the worst financial decision" of his life [2][3] - Commenters highlighted that just because he can make the payments does not mean he can truly afford the car, emphasizing the importance of understanding overall financial health [3] Insurance Costs - The significant insurance cost of $5,300 annually was identified as a major financial burden, with many Redditors suggesting he shop for better rates and consider joining a parent's insurance plan [3][4] - Despite claims of having found the lowest insurance quote, commenters encouraged further shopping around for better deals [4] Actionable Steps - The user expressed determination to improve his financial situation by seeking additional employment to pay off the car loan faster [5] - Suggestions included exploring side hustles like DoorDash or Uber Eats to help cover payments, with advice on setting up automatic payments to manage the loan more effectively [5]