I started a full-time job right out of college which required me to own a car with a good insurance policy. That weekend, I went car shopping and put only $500 down on my first car. I owed $14,500. Whenever I had extra money, I always put it towards the car. I really didn't want to pay $259 for it every month! In 2 years and 4 months, I paid off the entire balance that I owed and now I have the title.
In August of this year, my significant other and I put down 10 percent on a $200,000 home - no more wasting rent money! Now I continue to pay off my federal and private school loans while attending graduate school.