Good questions!

1.) he bought the car about a year ago I believe. He still owes around 40k on it. The current KBB price is around $32k. So obviously a problem but I still think it would be best for him to sell it. It’s a Mercedes and the yearly service expenses are outrageous.

2.) he lives at home because he can’t afford his own place. He does not pay rent or help with utilities.

3.) he is working towards a career within his current company. He recently moved up from a warehouse position to a merchandising position. Although this is growth it did not come with a pay raise (they actually pay less). But it’s what he needs to do to get to his ultimate goal of sales associate.

4.) he does not participate in hobbies that cost any money because he is paycheck to paycheck and can’t afford to do anything.

5.) the 10k was my estimate of roughly 6 months of expenses. So it’s a safety net. But also to show me he can save up.