Proof you are all living in my simulation/fever-dream:
Orman also wishes the millennial hadn’t splurged on a BMW, which sets her back $720 a month. In addition to the car payment, Gonzalez spends about $90 on gas, putting her monthly transportation costs at $810. “What you deserve is a life of financial independence, not some car,” Orman says.
Off all the crack-pots with sensible haircuts and terrible tag-lines, Suze’s financial advice is worth exactly what you pay for it. 
Really? Okay, Suzy
No way I’d be able to justify $720/mo on $80k /year in Pasadena.
Agreed. At least it’s a loan, not a lease. But still a horrible decision.
Some years back I was making about 70k per year and had an $800 per month Subaru loan payment. It was a zero interest loan, so I paid off the car in 2 years. Sometimes it works out.
Did you live in Pasadena at 2020 housing prices at the same time?
Ha ha. Nope. SF. But even then it was pretty expensive.
I assume insurance is included in the payment number. But annual registration and weekly $20 details probably aren’t.
Relax people! It’s probably a hybrid so she will make that money back in gas savings in no time. You go gril!
It’s a 4-series, hopefully a 40i. Also, the article shows a piechart with $367 allocated towards car, health and pet insurance. At least she’s splitting bills with her boyfriend and saving $1k a month towards retirement and such.
People first. Then money. Then things Mark. That’s the Suze way to financial chillax.
The only time I ever had a $700 car payment was when I did a 12-mo loan on my '98 Prelude Type SH back in 2005. I definitely wasn’t making eighty grand, but I was at least living at home, so no rent payment.
I think this is a very fair advice.
I think a lot of millennials are stuck between this “being responsible” and “YOLO” scenarios.
They see all their friends traveling and spending money so they feel the need to match other’s lifestyles.
I think “the need” to gift yourself a graduation gift of an expensive car is a lesson she’ll learn but I don’t think she’s ready to apply that lesson to other aspects of her financial life (i.e. - travel to Europe while complaining about the car payment).
She was in a great financial position coming out of college with no debt and could have really used it to get a jump start.
But I think Suzy is fair in her advice.
I’m gonna make some rivals here, but “being responsible” is not a trait I’d attribute to too many millennials. It’s hard to squeeze it in between mocking boomers and overlooking Xers and asking for a promotion.
And who needs to post pics of their 401(k) balance to Instagram anyway?
Who needs to post anything on Instagram…who cares…lol. Live your life for you, and for you to enjoy. If other’s can’t be there…sucks to be them…lol
some would call that “fictional” money LOL
wow Eddy Murphy got old, didnt know he gives horrible financial advise these days
solid advice…“it’s not about making more money”…she really is a comedian!
When are young people from any generation “responsible”?
Does she give an appropriate amount that the girl should spending on a car payment? I always thought 15% of your take home should be your ceiling. Sounds like she thinks it should be even less.
I think 15% is a bit high
