Two Lessons from my Dad

My last post was about my mom, so I think it's only fair that I also bring in my dad too. Thank you for reading.

1. Savings is a big deal

I was 23 when I got my first car. I had saved up maybe $3k by then. I was so excited to basically give the whole $3k for my down payment because I read that it's better to pay more toward that or as much as you can so you'll pay it off sooner. However, my dad said that I didn't need to and it didn't make much difference. If anything, it was a loss. My dad told me that it is so hard to save or to get the ball rolling and when you are on it, keep what you have.

Being rebellious like usual, I wanted to see it for myself, so I put $1k down. 24 months later, I realized that $1k could've gone toward 4 months of payment instead. If you look at this on the business side, think of someone borrowing $2000 from you. Would you rather they give it to you in one chunk or small payments of $5 and $10. Doing small payments would hurt you because you're just like, "I don't need to run to the bank to deposit this," so you end up using it and by the time you know it, your $2000 in small payments is gone.

2. Do things while you remember it

Buying a car came with other responsibilities; registration, maintenance, driving safe, accident reports, yearly sticker renewal, and other things. I was really bad at my yearly sticker renewal. It took me a $49 ticket to learn. My dad had always been on top of this duty for everyone's car in the family. When my car sticker came, he asked me if I wanted him to put it on my license plate. I must've been busy, so I kept putting it off until I got pulled over for it, and got it. The year after, I decided to save myself a trip to the DMV, by ordering my car sticker online with a .98 fee. The sticker came in the mail, and then I misplaced it. I'm guessing I must've drove without a sticker that entire year until I got a $49 citation for it. Finally, I got my life together the third year. I went to the DMV, waited in line, and paid for my sticker. The moment I got out, I put that sticker on my car. This lesson is so important in other parts of our lives too.