Shawn | 25 | New York

Shawn talking about his mistake in leasing a car at a young age.

Photo credit: Tiffany Clark

What is one money mistake you made when you were younger?
Probably jumping right into a new car lease.

How old were you?
21.

Where were you living?
Hoboken, N.J.

What made you decide to get a car at that moment?
I had just gotten a job. I had some extra money, so I thought that would be a wise way to spend it—and it wasn’t.

What happened?
It was just a waste of money. I didn’t need it.

What kind of car was it?
It was an Infinity.

If you could go back, would you get a different car?
Yes, something cheaper. It was a two-year lease.

Is it more affordable?
No.

What kind of work do you do?
I’m an engineer in the insurance industry.

So your advice to young people would be: Don’t get a new car lease?
Yeah, don’t get into something that’s a contract for a set amount of time. It’s stupid. Pay off some student loans instead.