Money Lessons – A Lamborghini and a Loan or no Lamborghini and no Debt?

DollarDan wonders why they can’t have a beautiful new car.

Because he has a bit of a financial education, he is able to spend a bit of time thinking through his options.

In the end he decides that it isn’t really a smart financial decision to get a loan to buy a car.  Maybe way down the line when he has made a lot of money, then he can buy one with cash.

Dream on DollarDan.

If we can get our children to understand :

  • Not to buy non-necessity items if you don’t have the cash.
  • Save up for something that their heart desires and then enjoy every moment of it.
  • A car bought with a loan may end up being worth less than the amount of the loan because of interest.
  • A fancy car won’t make them a better person.  They are enough just as they are.

Enjoy the video and spend some time browsing through our page Money Lessons for Children as you help you child get financially capable.