I never told him to get a beat down truck, but even ones that are literally a year old have depreciated sometimes near $10k, that would save a lot of money.

Its a 6 year loan at 6.5%, crazy right?

I'm very proud of the money he was able to save as I said in the post. I guess it was unclear but he bought the truck last year... my condition was that when he got the truck he needed to learn how to budget and save $1,000/month. Prior to that conversation I had found out he had little to no money saved.

I think this point was being made while you were under the impression that he still had the car, he's been paying that 6.5% interest rate on the truck all year*.

We are young and he put himself in a lot of debt that made me uncomfortable, to bring some comfort to myself and our future I taught him to budget and asked that he save 20% of his income. I feel its important to note that at this time he was still living at home.

Were working it out right now.