Financially Savvy Woman Pays Off Car, Plans to Hand It Down to Younger Cousin for Free to Help Him Get by

• A young woman took to social media to share that she has finally finished paying off her car which she plans to give to her cousin
• Dasha said that she speaks with her family about small actionable things that they can do to help the younger generation build wealth for themselves
• This was one example of helping her cousin who also happens to be a first-time father and just started a new job

Few feelings compare to the relief and satisfaction that comes with paying off debt. A young woman took to social media to share the great news of finally paying off her car installments.

Financial Activist Dasha (@brokeblackgirl_) shared the great news on her Twitter account as well as plans to give the paid-off car to her cousin for free when she buys herself a new one next month.

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She also explained why being financially conscious was so important to her.

“I talk to my family a lot about small actionable things we can do to help the younger generation build wealth for themselves, and this is what that looks like for me.

“He is a first-time father and just started a great job. I don’t want transportation to be a reason he can’t show up for his daughter, or he misses work,” Dasha explained.

She also revealed that she had spoken to her cousin about investing for his daughter, his retirement, and obtaining life insurance.

“I have another little cousin that is a first-time college student. I’ve taken on the responsibility to help him with food each month so that he can focus on his studies without worrying about how he will eat. I helped him get and manage his first credit card over the summer.

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“Unfortunately, my family was not able to pass down wealth in terms of money to my generation, but they were able to pass down the importance of a village and have all equally helped me in ways that money could not,” Dasha shared.

Many netizens lauded Dasha for her thoughtfulness and smart financial decisions which have not only benefitted herself but her loved ones too.

@STaeMJ wrote:

“Adding my nieces to my oldest credit card as authorized users at 18 (kept the card) has already helped them establish credit scores. Added them as tenants to lease to establish rental history. Just small things that have saved them deposits, fees, interest already.”

@wise_diva commented:

“This is so so important, I had my niece live with me rent-free as long as she needed, and I may save my old car for her son too, now that you mention that. I am paying it forward too because my parents blessed me in many ways.”

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@__kingkittyy said:

“That’s amazing! He’s going to appreciate that so much! I couldn’t imagine just being done paying off my car and jumping into another car note!”

@coachmontel replied:

“I gave my little brother my old car & as a result, he was able to save up for 3 years & buy the car he wanted in cash. He didn’t have to rush out & get a piece of junk out of necessity & I think it helped him out a lot financially.”

@__mccartney commented:

“I did this last year with my paid-off car so my sister could have wheels to take herself to/from class + work. FOR FREE. & it was honestly the best feeling.”

Woman celebrates being debt-free at 26, shares with Mzansi how she did it

In another story, Briefly News reported that a local woman has social media buzzing after sharing her impressive journey towards financial recovery. The now-more-sensible young woman had been accumulating unnecessary debt since the age of 24 and found herself in a sticky situation after suddenly being left without a job.

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Heading online, @Musanathi2 shared her very inspiring story.

"At 22, I graduated Honours. At 24, got a nice job and accumulated unnecessary debt. At 25, I lost my job & was unemployed with piles of debt. At 26, I was depressed in debt," she captioned the post in part.

However, after years of struggle, the working girl chose to live more modestly and one day secured an internship. It's clear she's definitely learned a big lesson in financial planning.

Source: Briefly News